Can we talk insurance?

I have been with Farmers for 5yrs now (with no lapse or late payments for over a decade) but I believe I should have a better monthly rate than they are offering on my '04 525i. I have a clean driving record with no accidents or tickets yet they want $220/month and since I will be turning 50 this year I feel I should be paying less per month by at least $50-$75, what am I missing but I confess insurance has always baffled me on how they bounce around and in a sense try to confuse thus leading to a more expensive rate.

With my Miata I had full coverage plus uninsured motorist yet my monthly rate had increase from $80 to $100 between 2011 and 2014. Now they want an extra $120 per month so long story shortened I need a carrier with lower payments yet equal coverage, suggestions?

Thanks in advance.

 

$220/mo? thats too much. i am with farmers and i have 3 cars for less than that. But, my 1cent. Every renewal I shop. but i have not left farmers as they have given me the best rate.

btw, my scuderia is cheaper than what u are paying for ur 5 series. you need to shop around.

 

Call and ask for a "deck sheet."

That's a code that you're shopping around.

You'll be in a much better position to negotiate.

Matt

 

Holy **** that's absurd. I think the most my yearly insurance was for my e92 335 was $1600/year at most.

There is something weird going on with insurance prices right now though because I just re-upped my insurance with travelers and didn't go up that much. Just a hair over a grand. However, my agent looked for cheaper prices because she thought that was a little high. But get this. The cheapest she found elsewhere for 2 other carriers was $1700/year!!!!!

She didn't get it and neither do I.

 

Thanks for the advice guys and that is why I asked for assistance because $220 is just offensive imho with my immaculate driving record. The rep I spoke with at my local Farmers office today really did not have clue from my impression and she was not the person I normally deal with but I do not know if that has any relevance. I upped my deductible from $500 to $1000 and I accepted a $24/year window coverage (possibly foolishly) for any and all window replacement with a $100 deductible.

This is the email I was sent regarding my new coverage...
Hello Gregg,
You have a couple of options on your payments. Your prorated premium for February is $157.30 plus your regular payment of $99 total for a total of $256.30. You can make your regualar payment of $99 in February, then in March your payment will b $381 and then after your regular premium will be $220.

 

Needless to say Farmers has been walking on thin ice since my payment increases started with no real reasoning/justification or explanation.

There has been something weird going on with insurance prices for the last couple of years imho. My impression from my elders is that ones rates should decrease with age and keeping ones driving record clean. I can fathom a minimum rate increase, lets call it a "price of living" increase but an extra $120/month and no mention of lube or free drinks is uncalled for.

Farmers day's are numbered!!!!!!!!

 

I was with Farmers.
Renewal time at Farmers was always a bad experience, I guess I thought that is the way it was supposed to be.
I decided to do some comparison shopping.
My F430 premium dropped in half when I quoted USAA.
The Homes and others cars were about the same but I went ahead and moved it all because of the horrific customer service I was getting at Farmers.
I have been at USAA about a year now. I have been through 1 renewal, so far so good.

 

Thanks to everyone's help FARMERS is history tomorrow as GIECO has cut my payments from $220/month, for the same coverage I currently have, to $80/month!! Account/activation fee is a mere $118.30.

 

Nice. What does your policy cover? Limits?

 

I've got my home and truck insured w/ Farmers but the F-car is with Hagerty and my Binz is w/ Geico. Only reason I have my truck insured w/ Farmers is for the auto/home discount. They are not competitive w/ auto at all and in fact, their rates are substantially higher (like 3x) than Geico. Not a fan of Farmers at all but the home insurance is a decent deal for me...

 

Contact an independent insurance agent. They can shop coverage for you with several different insurance companies at one time. Its not worth the trouble of you doing this on your own 1 company at a time.

 

Independent agents are a good resource for quotes but they cant shop the captive insurance companies for you. Most of the big companies are captive. These include State Farm, Farmers, USAA, Nationwide to name a few. You wouldnt want to leave these companies out of the comparison process.
This is why the insurance shopping process is so painful, you have to make contact with multiple companies.

 

+1

Along with a few other fchatters, I use Susan Schroll. Based in Dallas, she shops around my insurance rates for home and cars. Sold a car? Just send her an email. Bought a car? Send her an email with the VIN and pictures. Too easy. [email protected]

 

Try this company. They have saved me thousands on all my cars!! They are the best I've ever worked with. Based in Austin but I am sure they can cover your area as well.

HOME - BenjaminFryInsurance

 

Think it may have something to do with your new job?

LoL!

 

Contact Melanie at BRIA.com in Austin; [email protected] she may be able to help.

 

i was surprised, but allstate gave me a the best rate when i got my car last summer. they are generally more, but not for mine.. so anybody looking in texas, check with allstate..

 

I can let you know the details tomorrow but naturally its full coverage since the BMW is financed and I also carry uninsured motorist protection.

I did not think about that !! Good thing I did not tell them that I drove a '83 512bbi yesterday.

 

Account activation fee? huh?

 

facepalm

 

Why the facepalm?

 

what is an account activation fee? never heard of such a thing.

 

I paid online to start/activate my new policy. My terminology may be incorrect so my apology.

 

Call Susan Schroll at Essential Insurance. A bunch of us use her for insurance. 469.647.4020.

She saved me big bucks when I switched to her after 12 years with State Farm.

 

I really didn't care about the captive insurance companies once Susan Schroll saved me $2700 a year on our policies! And to be honest, we weren't paying that much since we were with State Farm for over 12 years with no tickets and accidents.

Thanks JIMPO for getting me hooked up. I did buy you lunch didn't I?