barncobob

recently switched from ALLSTATE for 25 years,,to USAA...waiting to see if my yearly rate will increse with USAA after the billing in a few months...no tickets, etc.

Fooshe

You would only see a change at the renewal of the policy.

Once the carrier has issued the renewal, that is your rate for the term they are offering it. (6 months or 12 months) That price can change if you make a material change to your policy (add a car, add a driver, remove either, etc.) The only other way I have seen them change (this is all in CA, NV and AZ), is if there is a filing needed due to a court action, DUI, etc.

Finally, even if the rate changes, you need to find out why. Remember, there are a host of rating factors that can change your rate and they fluctuate like airline ticket prices...just not as often. Consider these things:

• MVR change (ticket or accident)
• Vehicle symbol change (fancy way of saying the vehicle multiplier and/or average cost per claim change)
• Years licensed
• Usage type change
• Annual mileage rating change
• Loss of a discount for one of a number of reasons
• Change of address
• Change of Occupation

Just to name a few.

Holger B

Interesting commentary, but this isn't accurate. I signed up with these guys earlier this year after getting frustrated shopping around. I only had to submit an odo pic at the start of the policy and will have to do so again when it renews soon (I'm ok with that).

I fully agree that I won't know how good it is until I have to use it (i.e. submit a claim) and it's probably priced too cheap in order to gain some traction in the marketplace (price probably goes up some soon...like everything else). It's a really good deal for me because I don't put a lot of miles on the car. I also liked the declared value aspect. And I thought the company was a little sketchy too, but Porsche must've done some due diligence to put their name and reputation behind it.

Fooshe

Not really...they do two types of coverage...by the mile and traditional. The cheapest rate they offer is by the mile and you will be submitting mileages monthly. If you choose their other product, they will ask you for them at specific times. I just hung up with their rep and confirmed this. Their parent company (Mile Auto) does that, too. So I guess it is possible that if what I was told is wrong, the person was speaking about the wrong company.

And there you have it...I was waiting for this. No, you don't know how good it is until you have a claim. So far, the number of complaints about claims service that have surfaced is showing a trend of it being a negative experience. What I like most is "it's a really good deal for me..." again, until you need the one thing that policy is supposed to provide...CLAIMS SERVICE. I am also very curious what type of defense the carrier will provide if you need to draw on your liability coverage.

If Porsche did their research, they would have seen the MGA's track record and looked deeper. Now if the salesperson who pitched it did a great job or they are being paid a nice part of the profits, Porsche won't care as it is simply a dollars and cents decision for them and if they want to push, I am sure there is another MGA that will come in and try to take it over. The background on managed programs of insurance is something the public just doesn't get introduced to, nor do most know it exists.

I'll reserve my final conclusions until further down the road and let those who wish to test the waters be the jury.

Holger B

I pay by the mile. They make adjustments at renewal to the amount I guesstimated and was charged for. I've only submitted one odo pic.

I'm fully aware of the risks. I'm willing to take those on. Life is full of tradeoffs.

737gdog

I pay by the mile and submit an odometer pic every six months.

asellus

this x100

Progressive, Geico, any of the other "we farm out to 50 underwriters for the lowest bidder" style insurers, even USAA... all of them are garbage when it comes time you actually need to use their services.

Sure I pay a few bucks more per month with State Farm, but the few times I've needed them when I've been hit? No questions asked, no bull**** delay tactics, they were on it immediately and covered everything. Can't say the same for the few people on the other side using USAA, Progressive, and Geico...

Fooshe

Asellus makes a point that can be true today and false tomorrow. Not that Asellus is lying, but that is how things go with insurance adjusters/companies. The company may be great, but the adjuster could be a total pin head in their first job or a hyper focused over-achiever who thinks saving the company money is their sole purpose in life. Or, you can get a seasoned adjuster who is a professional and knows they are there to investigate losses, apply the law and logic in their evaluations and then pay meritorious claims in a timely and fair fashion. It can happen at any company, at any time, so I tend to question blanket statements. Not to say some carriers don't have that reputation, and for good reasons, I'm just saying that just like policies vary from State to State, so do the adjuster staff. Yeah, we usually get bachelor number 1, but because the industry pays a relatively low wage for the work type and load adjusters have, it's hard to find the needle in the hay stack. But believe me, they exist...just like good Agents.

A good Agent can be worth their weight in gold for the help they can provide you, especially if they have prior underwriting and claims service on their resume. Remember, when you speak with a direct writer, you are speaking with the company (who notes and records everything you say) and the person who you are asking to help you gets paid regardless of you staying a client or not. Whereas an Agent has a duty to you to service your needs and a moral obligation to simplify the process while looking out for your best interest. NEVER LEAVE A GOOD AGENT!

911dude41

Two phenomenal posts right here.

Geico is absolute scum of a company though.

Holger B

Question for you insurance guys...

I've been lucky and in four decades of driving and owning vehicles, I've only been in involved in a very small number of minor accidents (none my fault). When I get my car repaired, the shops always run the same scam. They tell you that the repair always requires more work than the insurance company will pay them for so that the work completely matches, lasts, etc. So they hit you up for a few hundred bucks to do the repair properly and completely on top of the couple thousand they get from the insurance company. I know there's a 99% chance this is pure BS and there's nothing incremental they are doing (how would I know?), but I don't want to be penny wise and pound foolish for a car I might own for many more years. They ask for just little enough money that it's not worth the hassle to battle with the insurance company and their bureaucracy to get the additional funds. What's the best way to deal with this situation? I'm thinking that in the future maybe it's best to get it in writing at a minimum (I doubt the repair shop would do that).

Diablo Dude

I've had this happen too, but my insurance (Mercury) has always made allowances for the body shop making "adjustments".
Moreover, it just so happens that the guy running the show at my body shop is a friend of mine so I know that these "adjustments" are legit and not trying to screw me.

FredRenn

Thanks for this great discussion regarding insurance. I'm the CEO of Porsche Auto Insurance and appreciate everyone's passion for Porsche vehicles. In 2019, Porsche Auto Insurance was created in partnership with Porsche Financial Services to enhance the Porsche ownership experience. In conjunction with the team at Porsche, and with input from Porsche owners, Porsche Auto Insurance was designed from the ground up to meet the unique needs of Porsche owners. That’s why our policies offer agreed value coverage and Porsche OEM parts, along with bespoke concierge claims and customer service professionals.

As of today, Porsche Auto Insurance is available in 9 states: AZ, CA, GA, IL, OH, OR, PA, TN and TX. We are adding FL and WI within the next 60 days, with more states to follow. Customers who select our pay-per-mile offering can choose to report mileage monthly or once every six months.

Porsche Auto Insurance policies are written on regulated insurance “paper” of Spinnaker Insurance (rated A- “Excellent” by AM Best), however all claims, customer care, regulatory rate filings and policy systems are handled solely by Porsche Auto Insurance. And, all Porsche Auto Insurance policies are backed by one of the world’s largest reinsurance companies, Swiss Re.

Your Porsche is worth being protected like a Porsche by a program specifically designed for Porsche vehicles (sorry, couldn't resist the plug).
___________________
FredRenn
2015 Macan S

911dude41

CEO and driving a Macan? Bleh. Sorry, had to.

Good to see you are now in my state. I will be taking a look your policies. What separates you from State Farm in terms of insuring my 991 Turbo S?

Jack F

Please add Colorado.

FredRenn

LMHO (laughing my head off) with you making fun of my 2015 Macan S. I love my daily driver. Differences between Porsche Auto Insurance and State Farm: (1) Agreed Value coverage, (2) Porsche OEM parts, (3) Porsche concierge claims service, and (4) an amazing, intelligent, good-looking & humble CEO