[davioh2001]

I have heard "Root" insurance advertised the heck out of themselves and I tried the app. After about a month they gave a quote that was clearly a bit cheaper. I have heard a lot of mixed reviews and my payment was due. I just went ahead and paid my current "traditional" provider another 6 months. I guess I am concerned something would happen and Root would either drop me or not handle the problem sufficiently. Anyone have experiences with Root insurance yet? Also, for the heck of it I ran another quote with a 3rd insurance and was told because I had a wreck in 2018 I have to wait a total of 39 months before that drops off of my record. The 3rd insurance provider was about DOUBLE of my current provider. So at that point according to them it would be May 2021 before I would want to try again. They also claimed they were NOT running my credit history which was somewhat a surprise. Also I'm not sure how the insurance company comes up with 39 months but that's their story. Anyone know anything about the 39 month record keeping requirement?

 

[ARob]

Former underwriter here.

DMV records typically reflect tickets and reported accidents for 3 years and longer for major cites like DUI.

Most companies report claims to the Comprehensive Loss Underwriting Experience CLUE database maintained by Experien. Those records generally go three years.

Insurance regulators hold companies accountable to fairly use data in rating, and since there would be no public record of incidents over 3 years, that is the cutoff. But if they already know about incidents, some may extend the period a bit, generally lowering rates on the next renewal following things dropping off.

Not all accidents appear on DMV records, and not all use CLUE, but might verify claims history in other ways.

All companies use their own practices, for instance many forgive an accident if you have a long-standing positive experience with you.

States tend to keep info on complaint rates with companies, but only for disciplinary reasons. Unfortunately not much consumer reporting of their reputation.

The incidents are used to either select or reject, or rate drivers in different rate bands. Statistics clearly demonstrate that incidents have a significant correlation to predicting future losses. Similarly, years of experience, married status, and sex in young drivers have significant correlation to losses. how far you drive, where you live (high crime or accident areas) impact rates too.

 

[shocker]

Speaking of lowering insurance costs.... due to insurance reform in Michigan my yearly premium dropped from, are you ready? 2900 to 691 bucks.

 

[ARob]

Speaking of lowering insurance costs.... due to insurance reform in Michigan my yearly premium dropped from, are you ready? 2900 to 691 bucks.

Did you have a DUI fall off your record? Or did they actually reform insurance in MI properly?

As a former insurance guy, most reforms made rates go up, not down. When the uninformed take control, they make a real mess of things.

Congrats on your windfall!

 

[shocker]

Did you have a DUI fall off your record? Or did they actually reform insurance in MI properly?

As a former insurance guy, most reforms made rates go up, not down. When the uninformed take control, they make a real mess of things.

Congrats on your windfall!

Real reform. My driving record is clean, credit immaculate, and I live in a low risk area.
Michigan was the first state to do the "reform" of no fault insurance. Obviously, the system spun out of control over the decades and wasn't till this year that the legislature and governor could overcome their love of lobbyist $ and normalize us with most states in the country.

 

[ARob]

Real reform. My driving record is clean, credit immaculate, and I live in a low risk area.
Michigan was the first state to do the "reform" of no fault insurance. Obviously, the system spun out of control over the decades and wasn't till this year that the legislature and governor could overcome their love of lobbyist $ and normalize us with most states in the country.

No fault has been a wolf in sheep clothing for 30+ years due to Trial Lawyer lobby. The idea was to force everyone to work with their own insurer for routine claims, and only permit lawsuits for serious injuries. The lobbyists got the laws passed with $200 thresholds in many cases, meaning suits were permitted for hangnails. Then, when rates didn’t go down like promised, insurers were blamed.

If they’re finally getting it right, great.

 

[Mountabolt]

Interestingly, my wife and I have a Leaf and a Bolt with Allstate. Full insurance, comp, collision, uninsured.

2015 Leaf is $600 and 2017 Bolt is $400. Still scratching my head on this one.

I really need to get new insurance quotes...

 

[redpoint5]

I should to. I'm always saying if you've had insurance for more than 2 years, you're paying too much. Insurance companies like cable and internet companies offer teaser rates to hook you, then creep the premiums up over time. Jumping ship almost always yields better rates.

 

[jcsims]

Real reform. My driving record is clean, credit immaculate, and I live in a low risk area.
Michigan was the first state to do the "reform" of no fault insurance. Obviously, the system spun out of control over the decades and wasn't till this year that the legislature and governor could overcome their love of lobbyist $ and normalize us with most states in the country.

at $2900 per month, then suddenly, $691??? i don't know which is the lowest on the slime hierarchy...attorneys, or insurance companies. if you are both, you are the lowest...that much is clear.

 

[p7wang]

Interestingly, my wife and I have a Leaf and a Bolt with Allstate. Full insurance, comp, collision, uninsured.

2015 Leaf is $600 and 2017 Bolt is $400. Still scratching my head on this one.

I really need to get new insurance quotes...

Probably means they have Leaf as primary car and Bolt as secondary in the policy. If they reverse the order, price would probably inverter. Found this out when removing collision in my cars due to non use during Covid.

 

[jcsims]

Probably means they have Leaf as primary car and Bolt as secondary in the policy. If they reverse the order, price would probably inverter. Found this out when removing collision in my cars due to non use during Covid.

I did not know that. Thanks. don't drop comprehensive though, i just got hammered by hail...auto almost cost as much as total roof replacement.

 

[azikormaz]

I pay eight hundred dollars per month for the insurance for my Corvette C8. Many people say that it is a pretty high price, but I want to be sure that my car is in safety. Whatever will happen to my car will be repaired by the insurance company, so I don't need to take care of anything, but recently I had a problem with the insurance. My windscreen cracked, and the insurance company didn't want to repair it. I was arguing with them until I have read an article on moneyexpert.com, and I understood that not in every case the windscreen could be replaced.