Switching Insurance from Amica to Nationwide?

[bigdude2468]

I have no loyalty to insurance companies. Maybe I am wrong but it seems that once you have a policy they start premium creep.
I switched last year from Safeco to American Family and saved over $1000. The way the rates go up is kind on insidious. Auto goes up $50, property stays the same and then the next year property and umbrella goes up $200 and $25. Over the course of five or six years you wake up and say what the hell happened? This time I put a spread sheet together and will keep track. My premium is due 7-1 and from last year AmFam went up.

Property +$100
Auto + $60
Umbrella + $90

If AmFam does it again next year I will start looking. In the last 40 years we have had one auto claim and one property claim for hail damage. To be fair we did receive a check for $100 on our auto policy due to covid resulting in fewer auto claims.

[ötzi]

Do you get a petrified freeze dried guy discount?

I was thinking of trying Geico for the cars, my friend the Caveman says they're awesome.

[Mazderati]

Geico's website is easy to use and a person was always easy to reach on the telephone. And, they have the best commercials. But, I just saved a bundle by switching my car insurance away from them to the Costco provider which is Ameriprise/Connect/AmFam in my locale.

[fastfred]

fuck insurance again
I talk with my agent every other week
and yes an agent will have pull with the company if there is an issue
I have found the only way to deal with these companies is to scream and yell and the pieces of shit on the other end of the phone
it works wonders but they will tag you as a problem when your policy comes up on there computer screen

insurance companies went to hell when they deregulated the banking securities and insurance industry and allowed them to start gambling with your premiums

[neufox47]

fuck insurance again
I talk with my agent every other week
and yes an agent will have pull with the company if there is an issue
I have found the only way to deal with these companies is to scream and yell and the pieces of shit on the other end of the phone
it works wonders but they will tag you as a problem when your policy comes up on there computer screen

insurance companies went to hell when they deregulated the banking securities and insurance industry and allowed them to start gambling with your premiums

That’s basically the worst advice in dealing with an adjuster. As others pointed out the adjuster is going to have the most influence over your claim. Berating them is rarely going to help and often will make your process much worse.

[Peruvian]

That’s basically the worst advice in dealing with an adjuster. As others pointed out the adjuster is going to have the most influence over your claim. Berating them is rarely going to help and often will make your process much worse.

I figured you could handle that one.

[TNKen]

I deal with insurance companies and adjusters regularly from personal injury cases and property damage cases.

Absolute bottom of the barrel are the TV commercial carriers. Geico, American General, Progressive. Good thing is in a serious case, they just pay up and go away. Typically low limit coverage.

One tier up from the bottom of the barrel is Farm Bureau and Nationwide. Both are pieces of crap for carriers.

I have had multiple cases involving insureds against Nationwide for property damage claims. Nationwide always refuses to cover the loss without a ton of controversy, and low balls everything. Had a client w commercial policy on for a dry cleaning business. Squirrel got into a transformer and killed one leg of three phase power that fried the electronics of a commercial chemical washer. A lawsuit and two years later, we finally got a settlement out of them. Same on a large house claim, same on another business claim.

No different in trying to recover on personal injury claims. In house attorneys that work for nothing. Their business model says settle cheap or try the case, roll the dice in court that Nationwide only gets hit bad on one out of ten cases. Why is this important to you? You will likely have uninsured/underinsured motorist coverage through Nationwide, who will treat you in similar fashion.

Nationwide? Run Forest Run.

[Kevo]

I deal with insurance companies and adjusters regularly from personal injury cases and property damage cases.

Absolute bottom of the barrel are the TV commercial carriers. Geico, American General, Progressive. Good thing is in a serious case, they just pay up and go away. Typically low limit coverage.

One tier up from the bottom of the barrel is Farm Bureau and Nationwide. Both are pieces of crap for carriers.

I have had multiple cases involving insureds against Nationwide for property damage claims. Nationwide always refuses to cover the loss without a ton of controversy, and low balls everything. Had a client w commercial policy on for a dry cleaning business. Squirrel got into a transformer and killed one leg of three phase power that fried the electronics of a commercial chemical washer. A lawsuit and two years later, we finally got a settlement out of them. Same on a large house claim, same on another business claim.

No different in trying to recover on personal injury claims. In house attorneys that work for nothing. Their business model says settle cheap or try the case, roll the dice in court that Nationwide only gets hit bad on one out of ten cases. Why is this important to you? You will likely have uninsured/underinsured motorist coverage through Nationwide, who will treat you in similar fashion.

Nationwide? Run Forest Run.

Damn. Such a bummer to hear that Nationwide are a PIA to deal with.

Like I mentioned, I've been happy with Amica. They have been incredibly easy to deal with over two claims and it feels like they act in good faith in every interaction I've had with them. Are there others like that that you would recommend?

[schuss]

I was an "Emerald" Progressive policyholder for like 17 years on a multiline with zero claims, ever, and then found coverage that was significantly better (2.5x more auto liability and ~4x more UM/UIM and better homeowner's liability) AND which included a seven digit umbrella with another insurer that all cost less than my Progressive coverage, which didn't include an umbrella. And I will turn around and walk away from Travelers if someone ever beats them.

Don't believe what anyone tells you. Insurers' overall "cost ratios" and whatever else nonsense they spew are all built on info nobody has access to and that requires actuaries who are beholden to the insurance industry to spread 'em wide and say yes. And if your state has an elected insurance commissioner, probably nobody is policing the police.

(edit: I really fucking hate how much time I spend thinking about insurance. What a loser.)

I said cost ratio, not premiums. They have the ability to be cheapest, but won't be if you're not seen as a profitable customer.
Cost ratios are easily calculated from stuff on the balance sheet, it's not voodoo math. Just look up p&c insider and you'll get more info than you need.
If you don't like companies gambling, pick a mutual, they aren't allowed as much latitude in investment. That said, current financial regs are stringent enough to keep things solvent, though the technology arms race will likely eliminate many midsize players soon.

[TNKen]

Damn. Such a bummer to hear that Nationwide are a PIA to deal with.

Like I mentioned, I've been happy with Amica. They have been incredibly easy to deal with over two claims and it feels like they act in good faith in every interaction I've had with them. Are there others like that that you would recommend?

I personally have Cincinatti. Good coverage, no issues on claims other than a couple of daughters with multiple speeding tickets and accidents that had to be moved over to another policy.

Erie and Travelers are good as well. USAA if available.

One thing you need to be careful about. If you are obtaining a catastrophic umbrella policy, make sure that it also has UIM coverage. Most, Allstate, State Farm, Farm Bureau, Progressive, etc., do NOT include UIM in an umbrella policy.

Think about getting hammered by someone with no insurance or a minimum limits policy. I have several cases now where the offending party had minimum or no limits, and injured party was woefully underinsured on his/her UIM. It takes a serious accident and resulting injuries about a week to blow through coverage. I've got two motorcycle accident cases right now that have or will have close to $500,000 in medical expenses, one has good UIM, the other virtually none.

[RootSkier]

One thing you need to be careful about. If you are obtaining a catastrophic umbrella policy, make sure that it also has UIM coverage. Most, Allstate, State Farm, Farm Bureau, Progressive, etc., do NOT include UIM in an umbrella policy.

I agree with this 100%. Umbrella policies are relatively inexpensive and every dentist should have one, and the umbrella should include both UM and UIM coverage (that is uninsured AND underinsured motorist). I have recently heard that some companies are issuing policies with UM but NOT UIM coverage. I haven't actually seen it and am not sure if I believe it, but a lawyer told me so it must be true.

[splat]

Unless that was a long long time ago, there’s no possible way for a company like All-State to have a semi-known policy like we “never pay more than 50%”. And there’s no way the CEO had to sign off on a homeowners claim. Didn’t happen.

That's what my friend said. Maybe he was told that by his 'Allstate Settlement Specialist'.
It is undeniable that he had to fight tooth and nail to get enough to rebuild his house.

[4matic]

I was going to cancel my umbrella when I quit landlording but it ended up being almost a wash by bundling it with some other minimum coverages. I forget the details but I just keep it now. I'll review it all later this year.

[I've seen black diamonds!]

I've had Amica 20 years in 3 States for car, apartment, home insurance. Unlike all the other institutions that profit off me (banks, health insurance, etc.) I don't hate them. Won't be switching unless there is a massive difference in price.

[neufox47]

That's what my friend said. Maybe he was told that by his 'Allstate Settlement Specialist'.
It is undeniable that he had to fight tooth and nail to get enough to rebuild his house.

It wouldn’t surprise me one bit if his public adjuster told him that. I don’t doubt that he may of had to fight to get enough to rebuild, especially depending on the state and carrier.

[schuss]

That's what my friend said. Maybe he was told that by his 'Allstate Settlement Specialist'.
It is undeniable that he had to fight tooth and nail to get enough to rebuild his house.

Head of claims - maybe. Too much volume for a CEO to even be looking at it for even a second.

[Peruvian]

Head of claims - maybe. Too much volume for a CEO to even be looking at it for even a second.

Besides the fact that most insurance company’s CEOs have no claims experience and wouldn’t have a clue how to handle a claim. At a company as large as Allstate, I doubt the CEO even gets involved in large loss check approval.

[schuss]

Besides the fact that most insurance company’s CEOs have no claims experience and wouldn’t have a clue how to handle a claim. At a company as large as Allstate, I doubt the CEO even gets involved in large loss check approval.

Typically the signing authority is based on pay grade/position because if you have to get the exec to sign off on a few hundred k you're gonna take a look to make sure you did your due diligence in defending company interests. The reality is that typically there aren't any surprises and your operations should be tight enough to already know the likelihood you'll have to pay out by day 10 or so.