Looking for New Property Casualty Insurer

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Topic Author
Goodman60
Posts: 252
Joined: Mon Jun 03, 2013 8:53 pm

Looking for New Property Casualty Insurer

Post by Goodman60 » Tue Mar 12, 2019 9:25 am

I recently had a small claim with Kemper Insurance regarding an issue on my Renter's Insurance policy. I THOUGHT I had a "robust" policy, which I am told is sold to upper income customers with good credit, safe residence neighborhood and low claims history/probability. The "premium customer" as one agent put it to me. It's beyond the scope of this post as to what the issue was, but I was unhappy with the way Kemper handled the claim, how much they finally allowed after 40 days of processing a relatively small claim, how they treated me, how they treated my agent (although I'm not sure it wasn't just a good guy/bad guy game) and what they were finally willing to pay. Bottom line is that they whittled down a $3500 claim to pay about $1000 and I rejected the claim (because it would have raised my premiums about 30% for 3 years and maybe subjected me to other bad stuff, perhaps if I had another claim). For $1000 recovered, I said "forget it" and I ate the whole $3500 loss. My calculation is that I should have gotten $2500. Anyway, I've decided it's not worth my aggravation to fight any more, but I do want to move on. Again, because I revoked the claim before accepting payment, my insurance record still shows as "never had a claim".

My policy (Renter's on a luxury apartment, Auto on a luxury car and a $5M Umbrella policy all in 1 package) renews at the end of July. Between now and then I'd like to find both a new agent and carrier. As mentioned above, it's not clear if the agent was the good guy who just didn't win for me or was a bad guy playing a good guy. Either way losing my account is collateral damage for the agent because, at the very least, the robust policy that I thought she sold me wasn't that at all.

What companies should I be looking for that look for customers like me? I'm too cheap..er..."value conscious" to go for Chubb. I have no USAA/military connection. And the last time I priced Amica it was much higher than everyone else. Also my 24 year old young adult son, in graduate school, needs to have auto coverage with whoever I get because he's still pseudo my responsibility (officially lives with me but attends grad school out of state) and if there's ever a question should he get into liability trouble, I don't want a "his carrier versus my carrier" problem.

talzara
Posts: 798
Joined: Thu Feb 12, 2009 7:40 pm

Re: Looking for New Property Casualty Insurer

Post by talzara » Tue Mar 12, 2019 11:49 am

Goodman60 wrote:
Tue Mar 12, 2019 9:25 am
What companies should I be looking for that look for customers like me? I'm too cheap..er..."value conscious" to go for Chubb. I have no USAA/military connection. And the last time I priced Amica it was much higher than everyone else.
Erie and Auto-Owners both score very highly in the Consumer Reports and JD Power surveys.

Are you still "value conscious" after your experience with Kemper? If a company is more generous at paying claims, then it has to charge higher premiums.

Leesbro63
Posts: 5988
Joined: Mon Nov 08, 2010 4:36 pm

Re: Looking for New Property Casualty Insurer

Post by Leesbro63 » Tue Mar 12, 2019 11:52 am

talzara wrote:
Tue Mar 12, 2019 11:49 am
Goodman60 wrote:
Tue Mar 12, 2019 9:25 am
What companies should I be looking for that look for customers like me? I'm too cheap..er..."value conscious" to go for Chubb. I have no USAA/military connection. And the last time I priced Amica it was much higher than everyone else.
Erie and Auto-Owners both score very highly in the Consumer Reports and JD Power surveys.

Are you still "value conscious" after your experience with Kemper? If a company is more generous at paying claims, then it has to charge higher premiums.
I always thought Kemper was a higher-end insurer.
Last edited by Leesbro63 on Wed Mar 13, 2019 8:15 am, edited 1 time in total.

talzara
Posts: 798
Joined: Thu Feb 12, 2009 7:40 pm

Re: Looking for New Property Casualty Insurer

Post by talzara » Tue Mar 12, 2019 12:08 pm

Leesbro63 wrote:
Tue Mar 12, 2019 11:52 am
Great suggestion. As to Kemper, I thought they WERE a more premium experience 🤷🏻‍♂️
The statistics disagree. Kemper has higher complaint ratios than State Farm.

Code: Select all

Homeowners Insurance
Complaint Ratios

                       2016  2017  2018
Amica Mutual           0.20  0.19  0.32
Kemper Independence    0.83  0.58  0.37
State Farm Fire        0.37  0.35  0.26

https://eapps.naic.org/cis/

boglerdude
Posts: 773
Joined: Fri Jul 10, 2015 1:28 am

Re: Looking for New Property Casualty Insurer

Post by boglerdude » Wed Mar 13, 2019 2:58 am

So you dont tell us what happened (required for a proper evaluation) and also you dont want to pay more for the better insurers (Amica, Chubb, PURE)

:)

Topic Author
Goodman60
Posts: 252
Joined: Mon Jun 03, 2013 8:53 pm

Re: Looking for New Property Casualty Insurer

Post by Goodman60 » Wed Mar 13, 2019 8:18 am

boglerdude wrote:
Wed Mar 13, 2019 2:58 am
So you dont tell us what happened (required for a proper evaluation) and also you dont want to pay more for the better insurers (Amica, Chubb, PURE)

:)
You make a good point. I just did not like the customer service for a small potential claim. In the end you are probably right that I need to pony up for a more highly rated carrier. Agreed!

Saving$
Posts: 1788
Joined: Sat Nov 05, 2011 8:33 pm

Re: Looking for New Property Casualty Insurer

Post by Saving$ » Wed Mar 13, 2019 6:05 pm

Agree that if you were not happy with the customer service, vote with your wallet.

However, if the details you posted are actual, and not just an example, consider revising your insurance strategy. If you have a $3500 claim and think they should have paid $2500, it indicates a $1k deductible on your renter policy. The main coverages a renter policy provides for a higher income person are a) catastrophic coverage (ie loss of everything if you own things of value) and b) underlying liability coverage to your umbrella policy.

Consider a strategy where you self insure up to $5- $10k or so on the renters/homeowners via a $5-$10k deductible. The advantages are:
1. MUCH lower premiums. Mine paid for itself in 7 years, but I've never had a homeowners claim in 30+ years.
2. Much less chance of your premiums increasing due to claims. Regardless of whether you actually went through with accepting a payment for a claim, this claim is on your CLUE report. Even calling your agent and asking about potentially filing a claim (without actually filing it) supposedly goes on your CLUE report. Insurance companies attach the CLUE report to both the property address and the person filing. So it goes with you if you move, and your premiums are partially based on the claims history of prior occupants of your address. Raising your deductible removes many issues from even considering a claim so fewer calls to your agent, fewer marks on your clue.
3. Much less hassle with a low cost issue. You are not limited to the insurers contractors, etc. Just resolve it and move on.

quantAndHold
Posts: 3438
Joined: Thu Sep 17, 2015 10:39 pm

Re: Looking for New Property Casualty Insurer

Post by quantAndHold » Wed Mar 13, 2019 7:27 pm

We don’t love State Farm, mostly because when our agent got promoted to the corporate office, we were assigned an agent we don’t really care for, but when we had a couple of claims in 2017 (1 home, 1 car) they paid the amount I would have expected, without fuss, and didn’t raise our rates.

mgensler
Posts: 94
Joined: Sun Aug 20, 2017 9:17 pm

Re: Looking for New Property Casualty Insurer

Post by mgensler » Wed Mar 13, 2019 7:36 pm

+1 find an agent that will quote you Chubb and Pure. Set the deductible at 5k or 10k. You can also change the coverage on your contents if you find you have lower than their default policy. You'll be with a premium company at less than premium rates.

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