CSAA (CA AAA) Insurance rate jump

[Addictedto6]

I was going through my insurance renewal and my boat portion of my homeowners jumped 32% for 2009, despite no claims on any policy. I talked to the agent and she said it was part of a general re-rating. They also tried to jack up my dwelling coverage limits by 40%....Solved that problem, but they can't adjust the boat rate because it's simply based on Agreed Value (which I don't want to change) & boat specs.

Any one else seeing this? I am considering shopping around, but need to keep everything with a single company. Little leary on some insurance companies as well, given the state of financial services.

Edited December 10, 2008 by Addictedto6

[D-GOOSE]

A friend who has farmers said his rates jumped huge this yr and changed his deductable just to same some cash.

[BuFootin]

i'd say shop around. Try SkiSafe. They are great to deal with and have very fair premiums.

[Addictedto6]

i'd say shop around. Try SkiSafe. They are great to deal with and have very fair premiums.

Unfortunately, I can't go with one of the boat only insurance companies.

Edit: Just checked an online quote for SkiSafe and it was $100 less, but with 300k liability vs $1m on my current. My guess is they will end up being close.

That just steams me, because I haven't had a boat or house claim ever, and only auto claims have been no-fault (rocks, etc).

Edited December 10, 2008 by Addictedto6

[Pistol Pete]

I've got State Farm (going on 8 yrs.) for everything. Car, boat, bike, truck, renters. No claims ever.

No claim increases for me, in fact, just last week I re-upped my truck and it was the exact same amount to the penny as 6 months ago.

[LiQUiDSX]

i'd say shop around. Try SkiSafe. They are great to deal with and have very fair premiums.

No complaints about Ski Safe (although I never had to file a claim), but I saved a few hundred switching to progressive.

Edited December 10, 2008 by LiQUiDSX

[Addictedto6]

I've got State Farm (going on 8 yrs.) for everything. Car, boat, bike, truck, renters. No claims ever.

No claim increases for me, in fact, just last week I re-upped my truck and it was the exact same amount to the penny as 6 months ago.

I'll have to give them a call. My auto (renewed in Aug) did not change for this year either. The homeowners (which the boat is part of) is a 2009 renewal.

[stewart]

We have the House and Autos w/ Hartford. No increases. We just renewed the Auto last month.

The bikes are w/ Progressive.

The boat has been w/ Westmar for a few years. They have good limits and when I filed a claim a couple of years ago, they were prompt in paying. Plus, no increase in premium. http://www.westmarinsurance.com/boat_yacht/

I don't know why you stay with one company, that's up to you. But to not shop around for the best deals especially when it comes to CSAA.

[Mike00LXI]

i'd say shop around. Try SkiSafe. They are great to deal with and have very fair premiums.

Unfortunately, I can't go with one of the boat only insurance companies.

Edit: Just checked an online quote for SkiSafe and it was $100 less, but with 300k liability vs $1m on my current. My guess is they will end up being close.

That just steams me, because I haven't had a boat or house claim ever, and only auto claims have been no-fault (rocks, etc).

Sounds like they filed with the state to change the base rates they charge all customers. You probably get credits for no claims, etc. but at the end of the day if the credits applied last year are the same this year but the base rate is higher your premium goes up. You have to remember that the concept of insurance is a pool of money everyone pays into. Your premium ultimately goes to pay someone else's loss and vice versa. Insurance companies have tons of actuaries that determine rate needs and that's what probably occurred. Most insurance companies operate near a 100% loss ratio which means for every dollar of premium in the door a dollar is paid in claims and they rely on investment returns on the money they take in to make a profit.

[Pistol Pete]

A little addendum here... I just got the bill for my Ducati, exact same dollar amount to the penny as 6 months ago. State Farm.

Bad news is, G.F. backed into someone (who was also backing) in a parking lot last week, up goes her premium $10 a month for who knows how long. This girl has had Sate Farm for ~25 yrs. never a claim, and has homeowner's with them.

[Adam]

I have my Yamaha R6 with state farm... no claims, its the same in two years..

I have liberty mutual for the Audi and the Land Rover..

As for the house I have switched a couple times and am looking for a new company...

no boat insurance for me, so sorry i cant help there

Edited December 15, 2008 by Adam