What car insurance companies don't want you to know
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- Опубликовано: 8 июн 2024
- Many insurance companies are fighting for your business but there are some things they just don't like. What car insurance companies don't want you to know will go through the 10 things insurance companies don't tell you.
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Please comment below with any questions you may have.
Disclosure: Please consult your agent before making any changes you feel you are not knowledgeable with. Due that the laws being different in each state, I am not responsible for any changes or updates that may have occurred after the making of this video.
This is a great breakdown. Nice job!
Thanks
Tickets is hard to not get in NYC
Where's your video "Liability Limits 101" video that you mention at @2:10? I couldn't find it in your video section
Thanks for the question! :0)
The liability limits 101 is covered in the beginning of “car insurance 101”. If you search in on RUclips or in my library it will show up.
Can you advise me on what to do if my car was damaged do to a storm. My deductible is $500 and the insurance company quoted me 2300 to fix it and referred me to their sister company. This is the company quoted 4300 and I feel like I should have the insurance company issue me a check and go and do my own estimates, the insurance company told me that they are only going to issue me a $1900 check because of my deductible and I know $1900 won’t cover the windshield and scrapes from my head from the storm. Should I just let the insurance company sister company do my repairs or should I go out and do my own research and get some estimates?
I would get my own estimate so you have an idea of the cost. The. Decide which company is best for the repair. A lot of the time if you go with their recommendation they’ll give you a longer warranty on the repairs but if they’re not evaluating it correctly you may need to go to your own shop
good work
Thank you
If I'm already working with Farmers Insurance and I bought a brand new vehicle and I could ensure that same vehicle with a different company for a lot cheaper can I have two different insurance companies keep Farmers for my other two cars and use a different company for just one car
Yes, you can do it. Farmers I believe has/had an all or none policy but that you would want to talk to your agent for more details.
I would recommend matching the liability limits on both policies.
I was told recently that it’s important to switch insurance every two years. I have been with the same insurance company since I was 19 years old, with different cars. It it true that it’s good practice to switch insurance every two years??
Not always. Some of the top companies base price based on loyalty as well. If you’ve been with a company for 5 years or more you usually with get a better price.
It’s smart to check them every 3-5 years to see what options are available but shop however often you feel you want to spend time Doing so. It never hurts
@@ThinkInsurance I use to pay 67 a month 3 years ago but now they want me to pay 120 a month they said cuz of inflation . I been 3 years with them no accidents pay always on time . I cancelled mine they wanted me to pay 400 for 3 months I was like 😒
so if i raise my liability limit, my monthly payment will decrease?
With most companies If you carry a higher bodily injury liability limit yes it is a lower risk in turn is cheaper when you go to switch to a different company.
Even so, you should get as much liability coverage as you can. If something happens, you won't be exposed. Also, make sure your uninsured/underinsured motorist coverage is high as well. You want to make sure your bills get paid if you are injured by an uninsured motorist.
Because i have only been driving for about a year car insurance? Nothing but questions with no end to them. Besides that very informative video coming from a new subscriber.
i clicked for the girl stayed for the information
What software do car insurance use i want to insure
My car myself
What software? Each company has its own.
Unless you live in Kentucky you’ll have to go to the government to figure that one out. I couldn’t even imagine how much large of a process that would be
@@ThinkInsurance i wanna self insure
Go to NAIC website and look into it. I wouldn’t even know where else to look.
I’m retired now, but I was an independent insurance agent for 38 years. The idea that insurance companies hide information from the general public is absolute nonsense. Competition, if nothing else, assures the agent is going to find their clients the best price available because they want to obtain and retain their customers businesses.
Independent agents represent multiple insurance companies and that gives them a significant advantage over single company agents, but that doesn’t mean a single company agent can’t have the lowest cost for a particular customer. State Farm, Allstate, & Nationwide, for example, have millions of customers. They have to compete in the market place just like every other company and agent does. And that competition is fierce.
But the idea insurance companies hide information from the public is absolute nonsense. The insurance business is highly regulated by state insurance departments. Their job is to protect the public from illegal and deceptive insurance practices and they do a good job. All insurance rates (cost of insurance) must be approved by the States Insurance Departments. This requires extensive financial information from Insurance Companies that prove a rate increase is necessary for the company to remain solvent and thus financially able to pay their claims.
As far as “high risk” drivers are concerned, such as DWI, multiple at fault accidents, multiple traffic violations, there are companies that specialize in this business. The General being one of the better known ones.
My agency paid out multiple millions of dollars in claims during my career. The very idea that companies are out to screw the general public is absolute nonsense. Insurance companies and agents are some of the most highly regulated businesses in the country.
The person presenting this video knows the insurance business. I can only assume his negative comments about insurance companies is his version of a click bait marketing strategy. As I noted I was an insurance agent for 38 years. I’m proud of what I did to make a living and my efforts to protect my clients from financial disaster kept a lot of people out of bankruptcy.
I’ve pretty much see it all. Total fire losses where the insured lost their home and all their personal property, fatal auto accidents where my insured was at fault. Stolen vehicles, home invasions, etc.
Because of what I did for a living my clients received financial compensation for their losses. Insurance companies aren’t your enemy and neither them or their agents are out to screw anybody.
I use to pay 67 a month like 3 years ago m now they want me to pay 400 for 3 months I have always pay on time no accidents when I ask they said cuz of inflation . I use to have Fred loya now I don't have any .
Audio has echo/lag
Your date is WAAAAAY off. Mandatory insurance didn't become law in Illinois until the late 1980s. I still think it is a violation of the RICO act.
Prior to 1991,only 16 states had compulsory auto insurance!! Massachusetts,Connecticut,New York,New Jersey,Georgia,Michigan,Indiana,Kansas,Idaho,Nevada,Utah,Arizona,New Mexico,Colorado,Iowa and Nebraska!! All others were added from 1991 to nowadays with Virginia and New Hampshire still not being compulsory!!
"Comprehensive" coverage is also known as "other than collision." I never liked the term "comprehensive" coverage, because it is somewhat misleading. However, it isn't something the "insurance company doesn't want you to know" as the title of the video suggests. The title of the video makes it sound like the insurance companies are intentionally "keeping secrets" from their customers, which is just another blanket statement intended to alienate the public with insurance companies for no reason (or so it seems). Not all insurance companies are bad, not all adjusters are bad. There are plenty of grubby attorneys who make terrible blanket statements against insurance companies.
What insurance company do you work for? SMH.
Where’s the girl ! ?
She left me! 😞
maybe you should rename this vid "how an agent can save you $"
Thanks for the suggestions. I think I should just make a new one :-)
Why don't I understand anything you just said??
🤷🏽♂️. That what my wife says too!! 😉
@@ThinkInsurance lol!!
Same here. They make it confusing to rip you off.