Should I Report It?

[Norwayguy]

You never did tell us if you bought online or from an agent.

I think he mentioned before that he purchased his policy direct...But thats just my recollection from some of his previous posts. And to be fair it could be that he hasn't yet found a P&C agent that has brought enough value to the table...

Personally I have bought from an agent and have been totally underwhelmed...When I search for car rates I called every agency in the phone book none of them could take my call when I called ie licensed agent not available then no problem I left my contact info and less than a quarter of them called back. So I purchased my policy and put the homeowners policy there as well...a couple of years ago we had such a tremendous amount of snowfall (I am in Maine) I built up around and broke off one of the stacks on the roof letting water into the house....I called my agent.

I gave my agent my policy info and started to explain what was going on and she stopped me and told me to call this other number...The number was direct for the carrier. I had to leave my contact info they called me back the next day and I gave them my policy info and they told me they were assigning it to an adjuster and gave me the number for the adjuster...I called the adjuster told me she hadn't been informed by the insurance carrier about the claim yet and to leave my contact info and she would get back to me once the carrier provided (And I don't remember exactly what she wanted but if had to do with her being assigned the claim) whatever she needed...So two days goes by and she calls me back. She informs me she is in Mass and asks if I have a digital camera if I can document the damage inside and out as well as scan in the estimate and email them to her.

All I can remember is interviewing with P&C agencies to be their Financial guy Life/securities and being told how much service work is done.

Found it: Progressive TV AD

 

[Mark]

Okay, They can fix it for $512. I guess I wont report it and just fix it.

Yes, I bought online and didnt use an agent. I save 20% to do so.

 

[Norwayguy]

Okay, They can fix it for $512. I guess I wont report it and just fix it.

Yes, I bought online and didnt use an agent. I save 20% to do so.

Any Progressive agents...I notice on the ads they list both a way to go direct and a pitch for agents...Do you guys have to kick in on the commercials?

 

[Cornelius]

Don't forget about CLUE Reports:
CLUE and You: How Insurers Size You Up | Privacy Rights Clearinghouse

 

[jiminfla]

Definitely pay for it yourself. The other posters are correct, between the CLUE report and an At Fault Accident, when you go to change companies, they will look at those negatively.

I sold P&C for 10 years and accidents that were not at fault and with nothing paid out can negatively effect your rates, so you will save more than the $525+- over the next 5 years by taking care of it yourself.

From my experience with Progressive, the rates you get on Progressive.com are almost always better than a rate you get from an agent. The way many companies do this is using different companies to write your policy in. (If you quote/buy online you are placed with Progressive Company #1, if you buy through an agent, you get Progressive Company #2.)

 

[Newby]

Mark, Why do you have such a low deductible in the first place?

As an insurance agent you should understand that you don't insure chickenshit risks. When you have a $500 deductible instead of a $1,000 you are buying insurance on $500. Does that make any sense? It also tempts you into considering turning a small CS claim that will eventually raise your premium.

 

[Mark]

Mark, Why do you have such a low deductible in the first place?

As an insurance agent you should understand that you don't insure chickenshit risks. When you have a $500 deductible instead of a $1,000 you are buying insurance on $500. Does that make any sense? It also tempts you into considering turning a small CS claim that will eventually raise your premium.

You are right. Just never thought about it. I've always tried to get the most coverage out of all my insurance, but now that this has happen and your bring it up, I need to change it.

So let me ask you this...on an avg persons health insurance, what should their deductible be?

 

[arnguy]

IMO on health insurance the insured should self-insure by maximizing the deductible to the extent that they can handle comfortably.

 

[Lyn]

IMO on health insurance the insured should self-insure by maximizing the deductible to the extent that they can handle comfortably.

Arnguy, why do you say that? Is there a comparable "clue report" for heath insurance that causes your premium to go up when you file a claim? I would think that with health insurance you buy it because you know you're going to use it and with auto insurance you buy it hoping you will never use it.

 

[VolAgent]

Arnguy, why do you say that? Is there a comparable "clue report" for heath insurance that causes your premium to go up when you file a claim? I would think that with health insurance you buy it because you know you're going to use it and with auto insurance you buy it hoping you will never use it.

Really, you plan on using your health insurance? Personally, I hope to never have a claim that would cause me to hit any deductible. Office visits are one thing, but whether the deductible is $5,000 or $500, I really hope that nothing happens to my family to cause me to hit either.

Picking your deductible isn't just about not filing claims and keeping future premiums low due to rateable surcharges. It is about keeping your current premium low because you know you are unlikely to have a large claim such that you'd even need insurance. Going from a $1000 to a $2000 per person deductible in health insurance really is a not event for most people. The majority of the population isn't going to hit either one, so why not keep the difference in premium in your pocket? Odds are, one or two years at the higher deductible will save you more in premium than the difference between deductibles.