Talk of The Villages Florida - Auto insurance comparison of 8 companies

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Auto insurance comparison of 8 companies

My auto policy is due next month and I started doing some comparisons of companies rates for a new policy. To compare "apples to apples" my coverages included on all quotes:

1 Vehicle (2020 Kia Soul Ex)
2 Drivers (wife and I ages 71 & 72)
7-10,000 miles driven per year if asked on application form
No accidents, claims, tickets in 6+ years
Bodily Injury 250,000/500,000
Property Damage 100,000
Uninsured Motorist 250,000/500,000
PIP 10,000 no wage loss included
Comp 100 DED
Collision 1000 DED
+ A few other minor services that only made $20 or so total difference.

These are the quotes I got from 8 (make that 10 now) companies confirmed by phone from lowest to highest based on 1 YEAR with paid in full discount:

Geico $700 (the obvious winner)
AAA $940 Just added
Progressive $1100
The Hartford (AARP) $1150
State Farm $1200
Travelers $1300
Southern Owners (my current company) $1700
eSurance $2000
Allstate (same company & price as eSurance) $2000
Liberty $2000
Amica $2800 !!!!!
xFarmers (couldn't "customize" policy limits online so no "fair comparison" - waiting for callback from rep)
xSafeco (would not quote online, requires calling an agent)

NOTE: All the above offered ADDITIONAL 10-15% discount off some of the coverages for their plug-in "safe drivers" device (or phone app) to track where you go and how fast you get there so I declined all of them for privacy reasons. Also does not include 2 policy discount (having homeowners etc with them).

For those who will say "I pay $400 from xxxxxx company" you need to compare exactly what coverages you have, what type/age vehicle you are driving for a fair comparison of what you pay and if your amount paid is based on a 6 month policy or 1 year. If my quote was based on 6 months I just doubled it (to get the yearly rate listed above).

Thanks for sharing your data with us. The difference in quotes was surprising, especially GEICO's. Thought it would be much higher.

Thanks. Would be nice if we all provide our pricing research on various purchases. Though all situations are different, it provides a starting point.

GEICO usually writes 6 month policies. Is that $700 for 6 or 12 months?

MORE IMPORTANT (well almost) than the coverage are the exclusions. This is a critical section which goes unread.

Excellent!

Now retired but having been in the property and casualty auto insurance marketplace, as a multiple agency owner for 25+ years, I shop the auto insurers upon every renewal.

For the past few years, I too have been with Geico.

Thanks.

Quote:

Originally Posted by EdFNJ (Post 1771803)

My auto policy is due next month and I started doing some comparisons of companies rates for a new policy. To compare "apples to apples" my coverages included on all quotes:

1 Vehicle (2020 Kia Soul Ex)
2 Drivers (wife and I ages 71 & 72)
7-10,000 miles driven per year if asked on application form
No accidents, claims, tickets in 6+ years
Bodily Injury 250,000/500,000
Property Damage 100,000
Uninsured Motorist 250,000/500,000
PIP 10,000 no wage loss included
Comp 100 DED
Collision 1000 DED
+ A few other minor services that only made $20 or so total difference.

These are the quotes I got from 8 companies confirmed by phone from lowest to highest based on 1 YEAR with paid in full discount:

Geico $700 (the obvious winner)
Progressive $1100
The Hartford (AARP) $1150
State Farm $1200
Travelers $1300
Southern Owners (my current company) $1700
eSurance $2000
Allstate (same company & price as eSurance) $2000
Liberty $2000
Farmers (couldn't "customize" policy online so no "fair comparison" - waiting for callback from rep

NOTE: All the above offered ADDITIONAL 10-15% discount off some of the coverages for their plug-in "safe drivers" device (or phone app) to track where you go and how fast you get there so I declined all of them for privacy reasons. Also does not include 2 policy discount (having homeowners etc with them).

For those who will say "I pay $400 from xxxxxx company" you need to compare exactly what coverages you have, what type/age vehicle you are driving for a fair comparison of what you pay and if your amount paid is based on a 6 month policy or 1 year. If my quote was based on 6 months I just doubled it.

Just a comment. I think your uninsured motorist coverage is way too high. Do you know how much you are paying for it and what it covers? It is required in some states, but it is not required in Florida. Basically, it duplicates the health insurance that you already have, and doesn't provide you with any liability coverage at all. Also, if you are injured in an accident, your auto insurance company will become your primary health insurance provider, not Medicare. I believe in having good liability coverage, but I don't have any uninsured motorist insurance at all.

I switched over to AAA (combo home and auto) a couple of years ago and saved a lot

I too suspect that GEICO quoted for 6 months...

thanks for sharing though

Quote:

Originally Posted by davem4616 (Post 1771894)

I switched over to AAA (combo home and auto) a couple of years ago and saved a lot

I too suspect that GEICO quoted for 6 months...

thanks for sharing though

Yes, and I would verify all of the quotes regarding the term of the policy. There are a few companies who sell 12 month policies, but most of them only sell 6 month auto policies.

If you or almost any family member have ever served in the military you should include USAA in your search to see if you are eligible. While I haven't done so in a few years, when I called GEICO in the past for a quote and they learned I was currently with USAA they stated they could not beat USAA's prices.

Quote:

Originally Posted by smurphy (Post 1771865)

GEICO usually writes 6 month policies. Is that $700 for 6 or 12 months?

$350 x 2 as noted in my post. A couple are 6 month so I just doubled them. Yes, I am aware that after 6 months they can raise them.

Quote:

Originally Posted by dewilson58 (Post 1771878)

MORE IMPORTANT (well almost) than the coverage are the exclusions. This is a critical section which goes unread.

Like what exclusions so I can check? Not quite sure what they can exclude under collision, comp, bodily injury, PIP, UIM. Obviously this isn't intended to sell anyone insurance, just what I found in a few days of pricing using (relatively) equal coverage amounts that I thought MIGHT be interesting info. I've seen lots of posts over the years saying things like "I pay $200 a year from XYZ" without listing the OBVIOUS AND MOST IMPORTANT data points to make the comparison as "apples to apples" as one can get. OF COURSE there may be some differences which is why I chose MAJOR companies rather some fly-by-night low ball insurers. Not sure there could be too many exclusions that would change pricing by hundreds of dollars. Sorry that I was unable to post each full contract so an attorney can inspect all the details.

The Allstate Mayhem gives a lot of good examples, but the best thing is ask for the list of exclusions. They must spell them out very clearly. "They are on the hook, unless they exclude them."

Quote:

Originally Posted by retiredguy123 (Post 1771892)

Thanks, Interesting. Using GEICO (the cheapest) it's $100 for 6 months so $200 less a year. When I spoke with Villages Insurance 3 years ago she suggested that coverage but I forgot the reasoning. Most of what I have been reading since your post recommends it.

Quote:

Originally Posted by davem4616 (Post 1771894)

I switched over to AAA (combo home and auto) a couple of years ago and saved a lot

I too suspect that GEICO quoted for 6 months...

thanks for sharing though

Geico was $350 for 6 months X 2 = $700 year (as I noted in my original post "If my quote was based on 6 months I just doubled it")