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The Water Cooler
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Home/Auto Insurance question for the Experts
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<blockquote data-quote="tiasman" data-source="post: 4083486" data-attributes="member: 11114"><p>I’ve been in claims for going on 25 years.</p><p></p><p>Law of large numbers. When you got your quote the insurer was needing more auto exposure in your area (usually by state) and so they are encouraging you to insure your autos with them.</p><p></p><p>Insurance actuaries are a brutal analytical bunch and few of their decisions will make sense to an individual insured.</p><p></p><p>Actuaries are void of feelings, they only believe in numbers which is why they will exclude your precious pitbull “that would never hurt anyone”, because the large numbers say that doggie is not profitable to insure.</p><p></p><p>It’s never personal with insurance and if you can deal with them without emotional attachment you can keep your costs down and coverages up. I’ve never used the same company more than 2 years in a row in 25 years, I ruthlessly shop around every year for the best rates with the best coverages, and so should you.</p><p></p><p>You get no special treatment for being loyal to them and you don’t build up any credit with them for longevity. Any disappearing deductibles and other stuff you think you are getting, you are being charged a premium for. It’s all marketing.</p><p></p><p>The policies are governed by the Oklahoma dept of insurance and are mostly all the same. There are some small differences so you should always read the policy BEFORE you buy it.</p></blockquote><p></p>
[QUOTE="tiasman, post: 4083486, member: 11114"] I’ve been in claims for going on 25 years. Law of large numbers. When you got your quote the insurer was needing more auto exposure in your area (usually by state) and so they are encouraging you to insure your autos with them. Insurance actuaries are a brutal analytical bunch and few of their decisions will make sense to an individual insured. Actuaries are void of feelings, they only believe in numbers which is why they will exclude your precious pitbull “that would never hurt anyone”, because the large numbers say that doggie is not profitable to insure. It’s never personal with insurance and if you can deal with them without emotional attachment you can keep your costs down and coverages up. I’ve never used the same company more than 2 years in a row in 25 years, I ruthlessly shop around every year for the best rates with the best coverages, and so should you. You get no special treatment for being loyal to them and you don’t build up any credit with them for longevity. Any disappearing deductibles and other stuff you think you are getting, you are being charged a premium for. It’s all marketing. The policies are governed by the Oklahoma dept of insurance and are mostly all the same. There are some small differences so you should always read the policy BEFORE you buy it. [/QUOTE]
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