My wife and I have been with State Farm for over 10 years now. I feel like we pay a lot towards insurance so thought it was time to shop around and potentially switch.
The first agent who fielded my request for a quote (via Traveler's locator) took a look at what I was looking to have insured (autos, home, term life, umbrella) stated that I shouldn't be with State Farm but instead really should be with CHUBB, Berkeley One, PCS and/or Cincinnati. Is he trying to upsell me on something I don't need?
So a few questions based on that interaction and a perusal of answers in this subreddit – what does these 4 companies offer over the standard State Farm, GEICO, etc? I haven't had to interact with insurance much, thankfully – other than getting rear-ended by a neighbor's daughter who was insured by CHUBB. I can't say there was anything special about how my claim was handled, but I don't have a reference point.
Am I more likely to get denied by State Farm than the others? Am I wrong to assume that it might take more time, but eventually I'd get paid out on a claim from State Farm?
Insurance Company Tiers
byu/Consistent_Cycle_682 inInsurance
Posted by Consistent_Cycle_682
4 Comments
ur probably approaching or on the upper end of what standard carriers are looking to insure
those are all high net worth carriers
sounds like ur agent is trying to get you to move over voluntarily before u get forced
You should work with a local independent agent to help you find the right policy for you. If they evaluated your needs and made that suggestion, they did right by you by not shoehorning you into a Travelers policy. They likely suggested those companies based on your demographic (home value and location, vehicles, professions, etc). It’s not an “upsell,” it’s entirely possible you’d pay less in premium with those companies because you’re being pooled with like risks.
Why are you going to an agent if you want us to answer your questions?
Your agent is make 15-20% commission and you want use to do a breakdown for free??? Would you trust the answers of anyone that took that deal?
The carriers they are suggesting are high value. What’s the Coverage A limit on your homeowners policy?