State Auto - The Saga Continues...

[AZDave]

Is it just me, or are there other frustrated State Auto Agencies out there?

Just announced in AZ: 19.2% increase.

Every year, double digit hits.

Then there is the new quoting and issuing 'Platform'. A huge disappointment - not making it easier to do business with.

They have been in serious loss trouble for years, more so than any other carrier I have, so I guess this was to be expected. But what a pain in the A gency!

I really do hate personal lines!

Oh happy day!

 

[adjusterjack]

See if you can get appointed with Pekin Insurance Company.

Even with all the rate increases you'd be hard pressed to find a carrier that beats them though I am speaking only from my own personal auto insurance experience over the last 3 years. I get quotes from at least a dozen companies at every renewal.

You might also review the AZ Ins Dept's annual premium comparison and see if there are competitive companies with which you can get an appointment.

https://insurance.az.gov/sites/defa...remiumComparisonandComplaintRatiosFor2017.pdf

I don't know why Pekin doesn't appear on the list. It should be up at the top with the lower priced companies. Pekin has been in AZ for about 3 years now.

 

[AZDave]

Thanks Jack, but I don't have a shortage of competitive carriers. I believe Pekin wants $250,000 first year or so and like 8 life apps. Plus, you wait Jack - Pekin will not be cheap for long!

My issue today is State Auto and the need to do a complete book roll to other carriers due to non stop large increases.

Not the Valentines Day love I was looking for!

 

[adjusterjack]

Pekin will not be cheap for long!

I know. I have followed the cycles since I got into the insurance business over 40 years ago. Upstart insurance company comes into a market, buys the business with low rates, keeps them low for a few years until the claims catch up, then raises rates. Meantime, a new upstart comes into the market, buys the business with low rates, keeps them low for a few years until the claims catch up, then raises rates. (Repeat the chorus about every 3 years.)

I hope that there is a new upstart in AZ by the time of my next rate increase.

 

[Markthebroker]

Auto rates everywhere are on the rise and will continue to as long as cars become increasingly expensive to repair and people keep fiddling with their electronic devices while driving.