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help..insurance rates in Texas suck.

Discussion in 'Chit-Chat' started by patride71, Jul 21, 2005.

  1. patride71

    patride71

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    after being up in IL for the past two years i have forgotten how much more expensive insurance is down here.

    i just changed my current auto and renters to my San Antonio address. my rates went up from $150 per month to $215 :eek:

    this is with no claims in the past 3 years on auto and no claims ever on homeowners/renters. i'm going to have a heart attack when my daughter turns 16 and goes on our coverage next year.

    i have shopped around in the past by going online....any other suggestions or particular insurance companies that seem to have good rates?

    currently i am insured with Travelers. they don't seem to be that competitive rate wise, but their service is quality. i don't want to go to some second rate carrier that has awful service if i have a claim.
     
  2. firetruck41

    firetruck41

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    American Express, with a Costco membership discount, had good rates when I checked. It is also worth calling a local insurance broker (represents several companies, not just one).
     
  3. swank60

    swank60

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    Don't you work for an insurance company???
     
  4. Brentbba

    Brentbba Former Golfer SILVER Star

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    Don't move to California then!
     
  5. Mr. Toad

    Mr. Toad

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    That's about the same percentage rate increase I had with USAA going from New Braunfels (Comal County) to San Antonio (Bexar County). Switched to Progressive and got way more coverage for way less moolah.
     
  6. stinkyfj60

    stinkyfj60

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    I am an insurance agent in Colorado and I see this when people go from state to state and the rating and laws are different. Travelers is pretty good, but I would still shop around. I agree, find a broker that handles a few companies. Thats what I work for. We sell several companies and can shop around. Although sometimes just talking to someone you already know which company to place them with...
     
  7. patride71

    patride71

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    yeah, but on the claims side. i even get a discount with my company, but the discount is not so great and the rates are not competitive.

    right now i'm going to stick with Travelers and then shop around once i get settled in.

    so now i'm shopping around for cable/internet and this is more expensive too... :mad:
     
  8. Cards81fan

    Cards81fan

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    My employer is nearly 400 dollars higher than my carrier for 6 months worth of insurance.

    Some states don't allow employee discounts on insurance. If you do, it's only like 10 percent.
     
  9. dieseldog

    dieseldog She idles just fine . . .

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    I feel your pain. I'm currently fully insuring seven vehicles and a motorcycle at Houston rates. Big OUCH! I finally switched the motorcycle over from USAA to Progressive. That saved a bunch of money. I've been with USAA for over 25 years; however, then have become very motorcycle unfriendly of late.
     
  10. Cruisin'Carolina

    Cruisin'Carolina

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    Sucks, don't it?

    M
    O
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    Should have strung up that insurance commissioner a long time ago?

    Pat knows what I'm talking about, but for those that don't, Texas had specific policy verbage unlike the other 49 states, who mostly use a standard form, that lawyers, judges, mold remediators, contractors went crazy with a few years back. Those types tried to spread it around to other states, but the policy read differently, and most have been amended to be clearer.

    End result was most of the big guys stopped writing HO policies. Some companies had to threaten to leave altogether.

    I had moved when it happened, but imagine trying to buy a house and delaying closing because no one would insure it. This was a major factor in tracking losses for specific properties. Some houses with prior water losses were uninsurable.

    Now my Texan brethern get to pay something like 300% for a comparable policy, or 200% for a very restricted one. (I have a cousin that was paying $600/year for $180K house, under an HOB. Now he pays $1900/year for much less coverage)

    Gotta love those wacked juries and judges and commissioners.

    Seems only a fraction of the population understands that if you make the ins co pay something they hadn't figured on or had collected a premium for, everyone suffers. Glad most other states took steps to prevent it from happening elsewhere.

    Think auto insurance rates in NJ.....yikes!
     
  11. srafj40

    srafj40

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    Then wreck the thing. :D
     
  12. Cards81fan

    Cards81fan

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    My employer bailed out of texas HO policies for nearly 5 years. Just started writing again less this past year. They just had to bail out entirely to reorganize thinfs.

    All because of the mold fiasco
     
  13. PolterGeist

    PolterGeist

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    We go thru a company called Answer Financial.

    They set us up with homeowners and car insurance, and a discount for having both with them. (We had trouble getting homeowner's insurance-- companies kept telling us they wouln't insure us cause we paid cash for the house and never had a mortgage. WTF is that all about?)

    OUr Auto policy is thru The Hartford-- No complaints. They were very helpful to us and gave great service when the semi truck rear ended us on purpose.

    OUr homeowner's policy is thru a company called Foremost.

    Both policies were setup for us by Answer Financial. They had very good rates and like I said, no complaints about the service.

    Steve
     
  14. patride71

    patride71

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    yep..i moved to IL before they rolled out the new VERY restrictive and VERY expensive policies down here. but it looks like things are slowly swinging the other direction as far as some more "liberal" endorsements..of course the premiums for those endorsements will be sky high...
     
  15. Cruiserdrew

    Cruiserdrew On the way there SILVER Star

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    Truth, that.

    When my 16 year old daughter, honor student, no claims, started driving this year, our auto rate INCREASED by $1400 per year. Very Ouch!
     
  16. Cobra Jet

    Cobra Jet

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    Don't move to NJ if you think TX insurance rates are high - that's NOTHING compared to NJ rates...

    The insurance rates here SUCK BIG TIME. In fact, I think NJ is the most expensive state (or was) to insure any motor vehicle.

    I traded in my prior 1996 Mustang Cobra on a 1995 BMW M3 a couple of years ago. On the M3, I had full coverage, $1k deductibles, no points or accidents - and I was paying $3500.00 per year for a SINGLE vehicle! No kidding. I went back to a Mustang Cobra, because I did not want to put myself through the monthly agony of paying the insurance on the M3... I miss that M3 too... damn.
     
  17. Cruisin'Carolina

    Cruisin'Carolina

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    You can thank your state legislature for that.

    I often get flamed for trying to explain how insurance works, and the impact of state governments on the money you have to pay.

    All insurance rates are approved by the states. They have the final say in what coverage is offered, what coverage is mandatory for their citizens, and what ins cos can charge.

    Yes, insurance cos are in business just like everyone else, to make a profit. Only they are regulated and the profit therefore controlled by state government.

    NJ and TX are prime examples of your local politicians at work. At some point most major ins cos finally figure out that there is no way to survive there, so they have to file their intent to withdraw from that state. Face it, if a big co cannot survive, it is only a matter of time the same economies of scale catch up to those who try and stick it out.

    After these extremist states finally wake up, after all they can only regulate those that WANT to do business there, what you have in most cases are that the mandated coverages are left in effect (instead of fixing what was broke), but they have to allow the ins cos to charge the citizens an adequate premium to cover that exposure.

    That equals high rates for all, because of what government did to protect you.

    I am all for fairness, but I believe unregulated competition is the best solution, not more government interference.