Need Insurance Advice

[Jodi1980]

I've gotten two estimates for home and car insurance from two different agencies; the estimates are from the same insurance company-Allied:

Auto:

It's $30 difference in premium but the difference in coverage is Personal Injury Protection-one is 60; one is 50. Plus the liability of 300 CSL's difference is about $30 difference (they are from the same company so I don't understand why one agency go a cheaper rate).

Home:

It's about $135 difference in premium but the difference in coverage is one package is Platinum; one is Gold. Personal Property is $72,750 for one; $67,900 for the other. One has earthquake for 5% ded; the other has no earthquake (we live in Kansas). One has Premier Extra for $15 per year; the other does not.

Help!

 

[Jodi1980]

bump bump

 

[DizzieDizney]

I'm sorry I don't have any help to offer... but I was just curious (if you don't mind) what state do you live in?

 

[Dan Murphy]

If I read correctly, two offerings, one from each of two different agencies, same carrier. One has higher coverage/benefits and higher premium. Sounds correct to me.

 

[Jodi1980]

Should I go with the higher coverage?

 

[DebbieB]

I work for an insurance company but in Commercial Lines. In our company, 2 agencies are not permitted to quote for the same person. Applicants are supposed to be screened, if one agent is already working on it, the second agent can't quote without getting a "broker of record" letter, which you sign saying which agent you want to quote.

 

[ahutton]

A couple questions to clarify...

On the Auto - you indicated a CSL of $300,000. Is one quote for a Combined Single Limit while the other policy is $100,000/$300,000 for Bodily Injury and then $50,000 or $100,000 for property damage? Let me know, and I'll be glad to explain the difference in coverage there. On you PIP (Personal Injury Protection) for the 50 or 60 - what are the actual limits of coverage? Is it a per day limit, or number of days limit? Most often you see PIP coverage with a limit of $2,500 - $10,000 but some will only pay for certain aspects of coverage for a predefined number of days.

For your homeowners coverage, keep in mind that "earthquake" coverage is actually often called "earth movement" coverage, and covers more than just a traditionally defined earthquake. Often the Platinum or Premiere packages throw in a bunch of extra little coverages thay you may not expect you'll need, but for the amount of coverage offered and the price charged it is really nice to have.

I've worked for many companies, and now a large agency, so I'm glad to answer any questions. By the way, Allied is part of a much larger, and well respected company, so they are a good carrier to be with.

 

[Jodi1980]

Thank you so much, Ahutton!

CAR QUOTE 1

Premium $482/6 months

Liability: 300 CSL; $263.
Prop Damage: Combined; $0.
Uninsured Motorist: 300 CSL; $16.
Personal Injury Protection: PIP-60; $48.
Comprehensive: 500 Ded; $151.
Collision: No Cov (I do not want any)
Towing & Labor: 50; $4. (I do have AAA-do I also need this?)

CAR QUOTE 2

Premium $452/6 months

Liability: 300 CSL; $255.
Prop Damage: Combined; $0.
Uninsured Motorist: 300 CSL; $14.
Personal Injury Protection: PIP-50; $44.
Comprehensive: 500 Ded; $136.
Collision: No Cov (I do not want any)
Towing & Labor: 50; $4. (I do have AAA-do I also need this?)

* Note: The 2 quote has under Rating Information, Yes for Multi-policy discount; 1 quote does not.

HOME QUOTE 1

Premium $755/1 year

Package: Platinum
Dwelling: 97000
Other structures: 9700 (?)
Personal Property: 72750
Loss of use: Up to 12 months
Personal Liability: 500000
Med Pay each person: 5000
All Perils ded: 500
Dwelling Replacement: 125%; $7
Earthquake: 5% ded; $15.
Premier Extra: $15.

HOME QUOTE 2

Premium $620/1 year

Package: Gold
Dwelling: 97000
Other structures: 9700 (?)
Personal Property: 67900
Loss of use: Up to 12 months
Personal Liability: 500000
Med Pay each person: 5000
All Perils ded: 500
Dwelling Replacement: 125%; $6.
Earthquake: NONE
Premier Extra: NONE
Pretective Devices (credit): - $12.

 

[doxdogy]

I am not an insurance expert. But, I do remember when we purchased our home my SIL (she works for an insurance company) and my mother told me to make sure that we add replacement costs on the dwelling and replacement costs on the content of the home. So when we purchased our home we requested this type of coverage. We also don't live in a flood zone, we bought addtional hurricane coverage for our home too. I know laws vary from state to state.

 

[ahutton]

So sorry for the delay - very busy in the office and didn't have a chance to check the thread over the weekend...

The first important thing to know is it is very rare that two agents approach the same company for quotes with the same information and get two different rates. In 99.999% of the cases it is because one agent took a little more time to factor in your personal information or included discounts you would be eligible for if you bought both your auto and home from the same place.

The difference between the auto quotes is going to be the difference in PIP premium and the fact that one gave you a Multi-Line discount, which actually can be up to 15%.

I'm not finding information on KS policies and what the difference between PIP50 and PIP 60 is, so here is some additional information about the coverage, and the agents quoting you can probably clarify the difference. In Kansas here is the minimum protection you are required to carry on you PIP coverage:
• $4,500 in medical expenses per person
• $900 per month for loss of income (max. 1 year)
• $25 per day for in-home assistance
• $2000 in funeral expenses
• $4,500 in rehabilitation expenses
• some loss of income "survivor benefits"

Since it is a no fault state, unless or until your medical bills exceed $2000 you don't even have a chance to make a claim against someone else for an injury, even if you have no fault at all in the accident. So when making your decision about your auto coverage, please remember you are paying to insure YOU, and take the best care of you and those who would be in your car, or you (or a household member) if you are in someone else's car.

The agent you select when he binds, or purchases, the coverage can request the multiline discount along with any other discounts that are available.

Hope that is helpful - I'm going to respond to the home question in a new post - this is getting a bit long, but I would rather give too much information than not enough!

 

[ahutton]

Okay - on the home policy, just like the auto, it is unlikely that the two agents quoted the same thing and got different prices. It looks like the differences are in the "coverage form" or what is included, the amount of personal property, and the earthquake/earth movement coverage.

Other Structures would usually be things like sheds, gazebos, and such that you may have on your property. Almost every policy will include a percentage of the house value.

In looking at their web site, it looks like the "Premier Extra" coverage adds in some specialty coverages that you may not "need" but are nice to have and offer good piece of mind. That would be coverage for credit card fraud, and may include things like identity fraud.

Their web site has a worksheet that you may find very useful.

http://www.alliedinsurance.com/content/inventory.pdf

It would be a good idea to take the time, whether you buy their policy or not, to complete this form. It will give you a complete inventory of what you have, and a number assigned to it that you can use to determine your appropriate coverage amount. If possible I suggest filing a copy in a fire proof safe or someplace more than 5 miles from your home. Also, if you have a digital picture take pictures of everything and keep a CD or prints (if not digital) with your "protected" inventory list. This way if, God forbid, you ever have a total loss, you will have excellent documentation of what you had, and what it looked like to start with.

Make sure you ask the agent you decide to work with about any available discounts. There are things for good students, college graduates, having more than one auto, having more than one policy, having smoke/fire detectors, sprinkler systems, burgler systems (and some offer additional for monitored services.)

 

[ahutton]

So there is the "coverage" information and differences between the quotes.

My best advice is decide who you really like working with. Who is really responsive to your questions? Does one explain things in more clear terms than another? Is one closer to you, or offer better hours? Some more complicated questions to ask would be have you ever had to respond to a disaster claim, like a tornado? Do you have anyone on staff who is claim licensed, or has appraisal training? These are things that in the event of a claim they can help you expedite locally until the catastrophe team can arrive and set up.

Hope that helps, and let me know if there is anything else!