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Traps-Bundling Insurance with One Company

Posted by scarab4life (My Page) on
Wed, Jun 4, 08 at 20:17

I've had my auto insurance with the same company (Company A) for the past 25 years. When I called Company A to place my new car on the policy, I was sold an umbrella policy. I then called my home insurance company (Company B) to make sure my home was insured for the minimum amount stipulated by the umbrella policy. I was then quoted a lower home insurance rate and auto insurance rate if I purchase an umbrella policy from Company B.

I thought I had read an article somewhere about the pitfalls of changing to a new insurance company after years of being with the former company or am I just being paranoid?

Your thoughts please.

Follow-Up Postings:

RE: Traps-Bundling Insurance with One Company

I don't see any problem, I've switched companies. I do some looking every couple of years.

Maybe company C will better both A & B,

RE: Traps-Bundling Insurance with One Company

Jut as important as the rates - what data does your state dept. of insurance show as the rankings on customer service complaints?

RE: Traps-Bundling Insurance with One Company

After being with the same company for 20+ years (and getting shafted when I had a claim), I've learned to review my ins every few years.

I see no problem at all with switching, just take jkmom's suggestion about cust service complaints...

One deductible for same instance

I bought homeowners insurance from the same person I had car insurance with for years. A couple weeks ago my home was hit hard by a hail storm (it did over thirty thousand dollars worth of damage). Apparently two of my vehicles were totalled as well. On the bright side I only paid one deductible for all three things (2 cars / 1 home). My claim for the cars is done and work will commence on my roof in less than a week. We still need to choose siding colors, etc. before that work can start but that is not the insurance companies fault. It was a good thing for us.

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