I have four small trucks (Tacomas) insured for my business with State Farm in Florida. I am adding an additional truck (tacoma) and is quoted 3 times more in premium than the exisitng vehicles. The agent tells me that they have a new underwriting system that does not recognize the existing policy so the vehicle is underwritten as a single vehicle and as such does not receive any "fleet" discount. When the existing policy comes up for renewal they will underwrite the five vehicles together and the rate should come down.
It sounds crazy that a large company such as State Farm would roll out a new system that would ignore exisitng policies and in essence make them loose business. Any State Farm agents out there with some insight? Could this really be right?
State Farm Insurance – new underwriting system does not allow to add vehicle to exisiting policy???
byu/Lanky_Conflict_7204 inInsurance
Posted by Lanky_Conflict_7204
2 Comments
I don’t work for SF anymore and haven’t for about 5 years so something could have changed. But likely one of two things:
1- You can typically only have 4 cars on one policy, so the 5th has to be a new one. They aren’t underwritten together eventually so not sure about that, it will always be separate.
2-This stopped being a thing when I was leaving but might have come back, we had two different UW division, the new car might be on the other.
Ask if they can move the entire policy to the new system now instead of waiting for the renewal date to more the rest of your vehicles out of the legacy system. This is more work for the agent, but it forces the fleet discount to apply immediately if it’s going to.