by nfs191 » Mon May 11, 2009 07:00 pm
Hi All,
Is any one in here have a coverage by Merchants Auto Insurance....recently I got a quote from this insurance and it is saving me more than $500 when compared to AllState, Geico & Progressive....
So not sure how there customer service and claims dept is....
Is any one in here have a coverage by Merchants Auto Insurance....recently I got a quote from this insurance and it is saving me more than $500 when compared to AllState, Geico & Progressive....
So not sure how there customer service and claims dept is....
Posted: Tue May 12, 2009 04:11 am Post Subject:
Hi nfs191,
When you'd compare them all, you should compare them from all quarters. Don't give in to any carrier without doing a bit of shopping. Even when the settlement record goes smooth you should check in a couple of other things like-
did you compare the deductible that you'd need to bear for the same worth of coverage with this company?
Steven
Posted: Tue May 12, 2009 07:00 am Post Subject:
Nfs, Steven is right; when you compare the rated between the carriers compare it for all the quarters available since some of the insurers might use lower rate as a teaser for the customers. You may find out later that they would charge you higher for every occasion.
Posted: Tue May 12, 2009 11:37 am Post Subject:
nfs, make sure you are comparing apples to apples, ie ALL coverage limits, and deductibles EXACTLY the same with each quote...as to the customer service part, check your states dept of ins web site, it will list complaints by company...personally I've never heard of them.
Posted: Tue May 12, 2009 03:23 pm Post Subject:
Hi all,
Thanks for the responses...I compared the rates and the coverage provided in Merchants is more than other major carriers.
Merchants coverge is - Bodily injury 50K/100K - 50K Property dmg
Sup unins. 50K/100K -
Coll 500 Ded, Comp 500 Ded w/glass , rental
$30/1200, road side service... all for $950/year
Other service I called was AllState & StateFarm
Bodily injury 25K/50K - 25K Property dmg
Sup unins. 25K/50K -
Coll 500 Ded, Comp 500 Ded w/glass , rental
$40/1600, road side service... all for $706/6 months (All state is giving this price only if paid in full, StateFarm has no restriction)
The Merchants insurance is offering the best deal in all perspects...so thats why I am not sure if its a safe bet or should I not take any risk with this new startup.....(The agent said it has been in for just past 3 yrs)
Posted: Tue May 12, 2009 08:50 pm Post Subject:
Your state has stringent rules for all insurance carriers...has your agent seen any claims handled with this company yet?
Posted: Tue May 12, 2009 09:02 pm Post Subject:
Be careful not to buy discount auto insurance coverage. I like to get cheap auto insurance rates not cheap auto insurance coverage. Some companies are willing to save you money over other companies and there is no single better way to lower car insurance cost than to comparison shop. However, make sure you are comparing apples to apples. What I mean is, make sure you are getting the same coverages instead of getting lower coverage amounts. You may more than the state minimum coverage now and when you shop the company may offer you a rate with just the minimum coverage. This is all good, however, if you need the additional coverage than this quote is no good to you. Others may raise your deductibles to $1k or more, which is fine as long as you know that it will cost you $1,000 to get your vehicle fixed when filing a claim. Just be smart, research the rates and the company as well. Good places online to check a company out are the bbb.org and ambest.com
Posted: Thu May 14, 2009 03:47 am Post Subject:
Good places online to check a company out are the bbb.org and ambest.com
That is indeed a very good advice, Justong. I think the OP should also check with the state DOI.
Nfs, every insurer should get the license from the DOI to operate in the state. You must check whether Merchants is licensed in the state or not. Also the DOI would be able to tell about the customers complaints against the insurer.
Getting cheaper rate isn't all if you don't get prompt service from the insurer at the time of need.
Posted: Thu May 14, 2009 10:50 am Post Subject:
nfs191,
The agent said it has been in for just past 3 yrs
Is there any possibility that your agent could tell you about their claims history? Actually it's very important for you to know their settlement success rate before you'd step in with them.
Steven
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