Shop 4 New LL Insurance (by Mot [CA]) Jun 5, 2021 12:12 AM
Shop 4 New LL Insurance (by P.B. [MI]) Jun 5, 2021 2:45 AM
Shop 4 New LL Insurance (by Robert J [CA]) Jun 5, 2021 6:08 AM
Shop 4 New LL Insurance (by Mot [CA]) Jun 5, 2021 4:19 PM
Shop 4 New LL Insurance (by Kevin [FL]) Jun 6, 2021 10:54 AM
Shop 4 New LL Insurance (by ed [CA]) Jun 6, 2021 7:57 PM
Shop 4 New LL Insurance (by Mot [CA]) Posted on: Jun 5, 2021 12:12 AM Message:
A survey of sorts...
We just asked a broker who already has our commercial LL policy to quote on 5 other SF or duplex properties & umbrella, so we could see if we could save some $.
After some back & forth communication, the bottom line would be about 4% savings, but it's tied to moving our personal home & auto policies as well.
We're figuring that's less than $600 savings, so I'm leaning towards leaving all policies as is, with our long-time broker.
What kind of savings would make it worthwhile for you to go to the trouble of moving your insurance business to a new broker?
--99.89.xx.xx |
Shop 4 New LL Insurance (by P.B. [MI]) Posted on: Jun 5, 2021 2:45 AM Message:
We just changed our insurance, last month. It was not to save money. It was because our agent lied to us. I will not go into detail about that.
The bottom line is that we now have better insurance and we save $900.00 per year.
Our policies are also bundled with our home, autos and 5th wheel. I do believe that amount was well worth my time.
In fact, we just received a bill from our old company, even after we received a refund check. So I filed a complaint. When she stated an agreement about the policy I hardly believed what I heard so I asked her to repeat what she said and I put the phone on speaker, so we do have witnesses to her statement. All conversations are now recorded, so we are waiting to be contacted. --67.22.x.xxx |
Shop 4 New LL Insurance (by Robert J [CA]) Posted on: Jun 5, 2021 6:08 AM Message:
Some real estate insurance agents can only work with 1 or a few underwriters, not free to quote from an open unlimited market.
So it is very wise every 2 to 3 years to get competitive quotes from independent agents, and then COMPARE Policies -- don't rely on what they claim is your coverage!
I have many properties covered by many carriers. I work with agents that only work for 1 insurance company, Like Farmers Insurance, and other agents who have dozens of carriers to get quotes from.
In one case I kept on getting around $5,000 in premiums by my same agents for different carriers. So when I tried someone new, he asked about my needs. I didn't need "water damage coverage" for a burst pipe or over flowing toilet -- only from a storm, roof or water used to put out a fire. He came back with a new quote from a different carrier, only working in my market place, for HALF the Premium -- around $2,200. I had them for 9 years.... AAA rated company.
Also when I move around from agent to agent, carrier to carrier, I expect to save 20% or I can just stay put and renew.. --47.155.xx.xxx |
Shop 4 New LL Insurance (by Mot [CA]) Posted on: Jun 5, 2021 4:19 PM Message:
Robert J, Thanks for your response. I always learn something from you.
I'm curious, tho, how much more would "water damage coverage" for a burst pipe be that it made such a price difference. --99.89.xx.xx |
Shop 4 New LL Insurance (by Kevin [FL]) Posted on: Jun 6, 2021 10:54 AM Message:
If you stay with the same company for years Clark Howard says they call you a sticke and raise your rates knowing you don’t shop around and can jam it to you. --47.205.xxx.x |
Shop 4 New LL Insurance (by ed [CA]) Posted on: Jun 6, 2021 7:57 PM Message:
Two years ago, I was very happy with the rates I was quoted by Western Gold Insurance. I moved all my rentals there and have been happy ever since. YMMV --108.201.xx.xx |
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