Liberty Mutual Home Insurance Premium Edit??

Agentrogue

New Member
5
I came across a client who is currently with Liberty Mutual. I was able to quote the client at a lower price for both home & auto. Client comes back to me telling me that somehow Liberty Mutual was able to reduce the home premium from 1100 down to 500...This sounds ridiculous and absurd. Client is getting the same amount of coverage and same deductible. How is it possible that Liberty Mutual can even do that?

Has anyone come across this problem with them?
 
Rewrite the policy for the exact same coverage amounts and deductibles in the HOME INSURANCE market and got the premium down from 1100 to 500... You can't be that naive, can you?
 
Surely not. there is no way in seven levels of hell they were given a premium half of what they were paying in return for coverage that is anything comparable to what they had before. they need to get their new declarations page and you need to use it as leverage showing them the Liberty Mutual's loyalty is not with their customer but themselves if they're willing to put their insured at that kind of risk just to keep a few dollars. and if by some bizarre happenstance they actually got the same coverage for that much less then you need to plant the doubt in their mind of why they weren't being charged that much to begin with.

either way, nothing about this sounds legit I would be as surprised as you if I were faced with this
 
That is the thing that baffles me.
I saw the dec page:
-same coverage values
-replacement cost
-same deductible
-liberty guard deluxe form

Somehow... HALF the premium of before.
 
If I have a client who's shopping me then I'll rewrite it & I've cut their price in half (for the same coverage w/ the same coverage) probably hundreds of times in my career.

If you haven't experienced that then you've either not been in business long enough, never appreciated retention enough to even consider rewriting, or been stuck w/ 1 company who doesn't allow rewrites.

Allstate's old AIC book, Encompasses Edge Book, Travelers older auto product (I mean the list is extensive..) of old BOB's who's prices just suck when compared to rewriting in current books.

So really if you consider that "naive" then I can only conclude you're inexperienced, suck at your job...or you're just stupid (maybe a combination of all 3?)
 
If you have the power to rewrite same coverages for half of the premium... and at whatever price you want then you are the man. You are quite the Fckin man aren't you.
Strict state filings by insurance companies and here you are the bad ass agent that can write any policy at any price he wants...

My question to you would then be.... How much are you paying for your insurance then, hot shot? Shouldn't be anything more than the price of a Big Mac since you call the shots and throw whatever premium you want on it.
 
If you have the power to rewrite same coverages for half of the premium... and at whatever price you want then you are the man. You are quite the Fckin man aren't you.
Strict state filings by insurance companies and here you are the bad ass agent that can write any policy at any price he wants...

My question to you would then be.... How much are you paying for your insurance then, hot shot? Shouldn't be anything more than the price of a Big Mac since you call the shots and throw whatever premium you want on it.

I have zero control over the premiums. But the fact remains...it's ENTIRELY possible to rewrite somebody, keeping them w/ the same carrier & the same coverage's (and maybe even better coverage) for half the price. I have done it PLENTY of times. Obviously I don't just "make" prices you clown.

Do you think a rewrite means a company just manually "changes" a rate? of course not, that would be against their filings. A rewrite is taking from one book of business (w/ it's own filings) and re-writing into a newer book of business that may have better rates (and it's own filings.) On homeowner's policies where the inflation guard & annual insurance adjustment has increased way too much over the years makes it VERY PLAUSIBLE that a re-write could cut the price in half. Again, I've done it PLENTY of times especially when I was pressed by a captive to write life (it frees up money for people to put into life premiums.)

Take somebody in Insurance company A who's been w/ them for 20 years. Their policy has crept up slowly every year, maybe that carrier got murdered by Hurricane Sandy so they also took a 50% rate increase a few years back. Maybe that person also had a claim w/ Sandy so that compounds it. Now they're literally paying 3x what they could be if they were simply re-written. Certain carriers don't allow rewrites for price, others don't mind.

It's sufficient to say that your bit*ch a$$ has just been served. And welcome to the Forums. My name is insurance1822 & I take pleasure in serving fools all day long. But I'm also here to help & the fact remains.

Like the previous poster mentioned, use that as ammunition & ask why they knowingly had a better rate for them but never made it available? That unfortunately doesn't work too well as many times the people who fall into this category are those who've been w/ that same company for a LONG time. They normally will stay anyway. Good Luck..:biggrin:
 
You typed up a bunch of bullsht just to further prove how much of a dumbass you are.
But I'm not here to debate with you on the reasons why your agency is shitty therefore you have time to spend ignorantly blabbing on forums.
But then again, you couldn't have known that this client was only with liberty mutual for 2 years PRIOR to the re write. But of course, 1100 on HOMEOWNERS policy cut down to 500 is SO feasible and common in your neck of the woods.

Again, I'm not here to argue with the fact that you, "clown", believe that a 200k home can (frequently) be re-written with same coverages for a $500 premium in the home insurance market. Please find a new hobby.
 
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