Using a "No Name" Insurance for your Car

[Michael G.]

A podcast I listen to talked about "name brand" insurance Companys, (Gecko, State Farm, Progressive etc.)
that are ripping people spending their income that's spent on ads with the customer paying for through premiums.

They suggest go with a "no name" insurance company for cheaper premiums that advertises less,

Check the top-rated Companys in the U.S.

Your Thoughts

https://www.crashnetwork.com/irc/

[Stu from NYC]

I have been wondering about this but a no name insurance company could be a risk on top of a risk

[RedChariot]

I have been wondering about this but a no name insurance company could be a risk on top of a risk

Please explain.

[scubawva]

It’s easy to research insurance companies, all the info you need is online.

Compare prices for exact same coverage, research the best priced, make an informed decision.

[dewilson58]

It’s easy to research insurance companies, all the info you need is online.

Compare prices for exact same coverage, research the best priced, make an informed decision.

Only if you read the fine print and understand it.............no so easy.

[Altavia]

Interesting, best from the repair shop point of view.

I had Erie at one point in time, no problems.

Was there info on premiums?

[Caymus]

The ratings list was compiled by repair shops. I remember a repair shop I used a few years ago, would not do work for Geico, Progressive and Allstate. They must have lower reimbursement rates or may mandate lower quality replacement parts.

When I lived in Pennsylvania, I used a company on the list (Erie) for many years without any issues.

[dougjb]

Insurance companies, by and large, simply pay off the little claims. But, on the big claims, they will stall, deny and otherwise not settle claims. It does not matter if they are big or small or well known or not. Too often insurance companies lay the blame for higher premium rates on law suits. But, if the insurance company paid the proper claims appropriately, there would be no need for injured parties to seek legal counsel. Anyone who has ever been involved in a car accident knows insurance companies are very unscrupulous. They simply delay, delay, delay...until the injured party just gives up. Great for the insurance company, bad for the insured!

[Caymus]

Insurance companies, by and large, simply pay off the little claims. But, on the big claims, they will stall, deny and otherwise not settle claims. It does not matter if they are big or small or well known or not. Too often insurance companies lay the blame for higher premium rates on law suits. But, if the insurance company paid the proper claims appropriately, there would be no need for injured parties to seek legal counsel. Anyone who has ever been involved in a car accident knows insurance companies are very unscrupulous. They simply delay, delay, delay...until the injured party just gives up. Great for the insurance company, bad for the insured!

Even with the recent mini market selloff, Progressive and Allstate are trading at all-time highs. Geico is owned by Buffett, but I assume it is also doing well.

[Cuervo]

I'm not going to get into specific, most of my neighbors I believe have well established insurance companies. I never thought much about it, but when it came to have major repairs, my deductible was less than the others paid. Most likely that is because my monthly premiums were hire. Unfortunately, one of my neighbors, I'm assuming was not with a well-established company and is going through litigation to get the same repairs this rest of us had done. What I suggest is to do your homework before you sign on the dotted line. You don't want to overpay, but you do want whoever you sign with is reputable and is there when you need them.

[bowlingal]

it's Geico Insurance.....not Gecko lol

[ithos]

Go online and check complaints.
How to Find Complaints Against Insurance Companies - NerdWallet (https://www.nerdwallet.com/article/insurance/find-complaints-insurance-companies?ajs_uid=51b6900a3fd0e7b98382ab54dd7a8e29 09082f99c929bc70120ae69d231ceae6)

[Cliff Fr]

it's Geico Insurance.....not Gecko lol

I like the name Gecko better!

[waterflower]

We would have cheaper car insurance if we used strong steel. Research Ford's hemp car.
Ford’s 1941 bioplastic Model T was made of hemp, flax, wheat, and spruce pulp, which made the car lighter than fiberglass and ten times tougher than steel, wrote the New York Times on February 2, 1941. The car ran on ethanol made from hemp or other agricultural waste. Ford’s experimental model was deemed a step toward the realization of his dream to “grow automobiles from soil,” wrote Popular Mechanics in their December 1941 issue and reduce greenhouse gases—already known to occur by then.

[Regorp]

A podcast I listen to talked about "name brand" insurance Companys, (Gecko, State Farm, Progressive etc.)
that are ripping people spending their income that's spent on ads with the customer paying for through premiums.

They suggest go with a "no name" insurance company for cheaper premiums that advertises less,

Check the top-rated Companys in the U.S.

Your Thoughts

Insurer Report Card (https://www.crashnetwork.com/irc/)

Prefer The Villages Insurance as they research and are super helpful. Always happy in their ability to save me some cash .

[GWilliams]

If they are not rated A+ they will go under during a crisis.

[Glowing Horizon]

Insurance is only worthwhile if they pay claims.

If they don’t pay claims, you are not “saving” money.

[Dgodin]

A podcast I listen to talked about "name brand" insurance Companys, (Gecko, State Farm, Progressive etc.)
that are ripping people spending their income that's spent on ads with the customer paying for through premiums.

They suggest go with a "no name" insurance company for cheaper premiums that advertises less,

Check the top-rated Companys in the U.S.

Your Thoughts

Insurer Report Card (https://www.crashnetwork.com/irc/)

Gecko (GEICO) and State Farm are "no name"
I dont understand.

We've used GEICO for years. They handled our auto accident claim promptly, paid all the bills, and gave us a rental during repairs, which took 3 weeks.

They are a good insurance company.

[CoachKandSportsguy]

I have been wondering about this but a no name insurance company could be a risk on top of a risk

We have Amica at home, no name ranked B+
Have never had issues with them and just a few accidents.

[Aces4]

We went with a "no name insurance company" about 5-7 years ago and will never go back to the big names.:BigApplause:

Ever since big name insurance companies went public, there is more interest in feeding the stockholder vs the insured. IMHO.

[Michael G.]

Trouble with ANY insurance, you pay and pay for years, then when you have a claim with them,
they give you a song and dance because you're not covered, bastards. :mad:

[dewilson58]

Trouble with ANY insurance, you pay and pay for years, then when you have a claim with them,
they give you a song and dance because you're not covered, bastards. :mad:

That's why you: have to read the paper.
Don't assume.

The best paper in the industry is Chubb.

[Two Bills]

Insurance is only worthwhile if they pay claims.

If they don’t pay claims, you are not “saving” money.

But you never find out until after you pay the money with any insurance company.
Big, small, or indifferent!