Stillwater Insurance Company

[AZDave]

Anyone selling for this carrier? I have never heard of them until now. Looking at a quote they provided to a new home buyer. Talk about giving it away! $250K coverage A - $300/year! My best is Travelers, at $600.

Of course the mortgage broker brought this quote in.

 

[insurance1822]

I ran into them 6 months ago & they were also SUPER cheap. They've also been calling my agency & others in the area for new appointments. No production requirements etc. The person I quoted against that had them (while their price was still really REALLY cheap..) it had increased like 30% at renewal.

 

[HCCIA]

I have had them for 6 years. They come in cheap then raise rates each year. Then they completely pulled out of the 3 coastal counties we write in. Stating they couldn't get the reinsurance to write in these counties. Waste of my time. We still have about a dozen of their policies on the books.

The rates are now not competitive for the most part and we have been moving them.

 

[Dave864]

They're usually pretty solid in my state rate wise but always have a high wind/hail deductible of $2500 or 1%. This can be enough to win the client.

 

[indienoise]

They're usually pretty solid in my state rate wise but always have a high wind/hail deductible of $2500 or 1%. This can be enough to win the client.

864 I assume means youre in the same area I'm in. I've never tried to sell them bc of the deductible but I see their rates when quoting with superior access. I wondered if they would do any lower than 2%, that's as low as superior access allows. They're pretty low on premium but I'm not a big fan of the wind/hail deductible. I've been able to sell home policies priced higher because of the deductible. Most folks I run across would rather pay more to not have to possibly pay 5 Or 6 grand out of pocket. They usually just got sold on price only without having the policy fully explained to them.

 

[insurance1822]

Superior access doesn't allow less than 2% or only in reference to writing Stillwater with them?

 

[AZDave]

Thanks for the input on these guys. History does repeat itself in the P&C world. Super low rates, get the premium on the books, see the claims take their bite, watch the rates go up to match the rest.

 

[indienoise]

Superior access doesn't allow less than 2% or only in reference to writing Stillwater with them?

Only for Stillwater.

 

[Dave864]

864 I assume means youre in the same area I'm in. I've never tried to sell them bc of the deductible but I see their rates when quoting with superior access. I wondered if they would do any lower than 2%, that's as low as superior access allows. They're pretty low on premium but I'm not a big fan of the wind/hail deductible. I've been able to sell home policies priced higher because of the deductible. Most folks I run across would rather pay more to not have to possibly pay 5 Or 6 grand out of pocket. They usually just got sold on price only without having the policy fully explained to them.

Yeah same area code; I helped you with an Allied home policy for a family member if I remember correctly

I believe direct writers with Stillwater can do 1% wind/hail for some zip codes--I do not represent them but know of at least two other local agents who do. Geico used to provide Stillwater quotes which is why I always ask to see other quotes my referrals are getting so I can advise them on what's wrong with the other quotes. If they get it online, they likely have a high deductible, no personal property replacement cost, or no water back up coverage. These are usually all things that people expect, but don't know it's not automatic.

 

[indienoise]

Yeah same area code; I helped you with an Allied home policy for a family member if I remember correctly

I believe direct writers with Stillwater can do 1% wind/hail for some zip codes--I do not represent them but know of at least two other local agents who do. Geico used to provide Stillwater quotes which is why I always ask to see other quotes my referrals are getting so I can advise them on what's wrong with the other quotes. If they get it online, they likely have a high deductible, no personal property replacement cost, or no water back up coverage. These are usually all things that people expect, but don't know it's not automatic.

Gotcha. Sorry, forum aliases start to run together after a while.
Great idea about asking to see their other quotes. Helps establish you as the true expert I'm sure. I need to do that.