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Since COVID, I seldom drive anywhere, maybe 10% of what I did last year. My insurance company offered an inconsequential discount, but when they bragged about with my renewal I wondered if they were joking.
My question is this, if insurance companies (by their own assertion) base our rates on their risk, and their risk in my case approaches zero, how do we argue for a more realistic basis on our coverage?
Or maybe a better question, has anyone found an auto insurance company with really low rates recently?
Details:
I currently insure with Geico
No tickets in 30 years (only ticket was 60 mph in a 50 mph zone)
No accidents in 60 years (and then it was my truck, but I want driving)
"I'm at that stage in life where I stay out of discussions. Even if you say 1+1=5, you're right - have fun." - Keanu Reeves
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Insurance is available "per-mile" from Metromile, Allstate, etc. Tracking device required. Not sure it's available in Hawaii.
Otherwise, I use this spreadsheet from the State CCA:
https://cca.hawaii.gov/ins/files/2019/12...-Guide.pdf
The deal for Travelers as a Costco member used to be pretty good.
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01-04-2021, 12:24 AM
(This post was last modified: 01-04-2021, 12:33 AM by terracore.)
USAA if you can get it. They issued a 20% rebate during the lockdowns. They also have an annual rebate if the insurance claims were less than forecast.
I checked, Metromile isn't available here.
The problem with car insurance in Hawaii is that the nanny state has legislated away most of the discounts companies are allowed to offer. The intent, for example, was that people with a low credit score shouldn't have to pay a higher rate than somebody with a good one, even though the link between credit scores and claims is well established. So the insurers just eliminated the discount so nobody gets it. (We all pay the higher "low credit score" rate). Social justice!
It's also a "no fault" state, so your history of no accidents isn't going to help your rate. If somebody runs a stop sign and causes you to break your neck, YOUR company has to pay for your injuries. We're all effectively only as insurable as the worst drivers out there.
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We have Liberty Mutual. It's a bundled policy with Auto, Home and Umbrella coverage.
I recently inquired about the "hot lava setting the house on fire" thing to my agent and he was a little evasive, but it sounded like it was covered under the fire clause.
Not feeling good about his answer, I contacted the insurance agency mentioned in an article from 2018 regarding insurance claims. I talked to Pablo Sanchez. We talked for quite a while about it. I sent him my current policy and he said it was a good policy and that most likely we would be covered in the event of loss. He also said we had a good price that he couldn't match and that we should stick with them.
I then asked about our hurricane insurance (iCat), which is through a different broker. He again said I should stick with them, but gave me some other scenarios such as content insurance that is not included in my current policy. Seeing as how my current insurer has never even contacted me (the bank got the insurance as a condition of the mortgage), I decided to switch that policy over to him.
The reason I did this was because he was so honest and up front about everything. He spent a great deal of time researching and explaining things even after he knew he couldn't beat my current premium cost. As I said before, he actually told me I had a really good policy and would be best served by NOT switching the homeowner's insurance.
If you want to check with him, his number is 808 825 8800. Pablo Sanchez, Hawaii Islands Insurance.
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When I was shopping for home insurance with hurricane coverage, Liberty Mutual was within a few dollars of Dongbu, which was the cheapest quote we got.
After Iselle I contacted our Dongbu agent about some damage we had (fences down, catchment cover shredded, etc) and he reported back that wind storm / hurricane coverage was limited to the structure only.
This thread is a good reminder to shop around. I should probably check to see what is the best deal now because things may have changed since I checked last.
Another good question to ask if you're like us that own more than one lot: Does the homeowners policy confer liability coverage to another (but vacant) land lot you may own? Many of them do. Dongbu and USAA do without any additional riders, though you may need to provide the TMK to the insurance agent to activate the (no additional cost) coverage.
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Dongbu changed their name to DB insurance. Don’t know why unless they did what Lucky Goldstar did to change their name to LG — to get away from some bad history.
Puna: Our roosters crow first!
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(01-04-2021, 12:24 AM)terracore Wrote: It [hawaii] is also a "no fault" state, so your history of no accidents isn't going to help your rate. If somebody runs a stop sign and causes you to break your neck, YOUR company has to pay for your injuries. We're all effectively only as insurable as the worst drivers out there.
good looking out, I was considering a poor policy although I didn't know it.
