A myth of an honest auto insurance
Written: Apr 11 '00 (Updated Apr 11 '00)
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Product Rating:
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Pros: great prices and customer service
Cons: renew every six months (this could be a pro, as in my case)
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| cheburashka's Full Review: AIG - American International Group - Auto |
Auto insurance in New York has never been cheap. When I was in college, under 25, or even under 21, had my car been insured in my name, I would've end up paying more every year just for the liability than the damn thing cost altogether! Of course, a series of speeding tickets didn't help, either. So my dad was generous enough to put the insurance under his name.
Last summer, after I have already turned 25, established jobs and credit, I made sure that my last driving violation was taken off the 3-year record, and I started looking for a new car. At the same time, as I was getting close to lease, I had begun looking for my future insurance company. As my choice of car has become apparent (and, by the way, I'm very happy with my Acura CL - see my very first Epinions review at http://www.epinions.com/auto-review-233B-3C36B99-388EF080-prod1 ), I started requesting Web and phone quotes from insurance companies.
My first few attempts were disastrous. A new car has to be fully insured, of course, liability and comprehensive, and I'm afraid rates for Brooklyn just aren't that low. Even with a clean driving record, all possible safety features on the car, and a promise to park in the garage, many quotes were in excess of $5,000 per year. I even took the "defensive driving" course to reduce it another 10%, but it was still unbearably high.
I checked Allstate, State Farm, AAA, Met Life and many others, but to no avail. One company wouldn't even offer me a quote upon finding out about my almost five-year-old speeding ticket for going 32 in a campus zone of 25. The rest would happily offer me a frustratingly high quote, and the reason has almost always been the same: I never had a car insured in my name before. Then I called Geico, because my Investors Alliance membership (see my review at http://www.epinions.com/finc-review-77F7-FD03BF3-38B9B514-prod4) would give me a 7% discount there. Their quote after this and all other discounts came out to $7,500. You can imagine what I told them. "A-C-U-R-A," I carefully spelled out after a moment's hesitation, "not F-E-R-R-A-R-I! Could you possibly check it again?" Well, maybe I wasn't that nice, but it wouldn't have helped anyway.
Almost desperate, I then called AIG, in response to their offer in the mail. Their questionnaire seemed somewhat shorter, as they didn't seem to care how long I've been at my current employment or apartment, for example. The quote I got over the phone was at least $1,000 less than the best offer I'd heard before. I asked if I could have that in writing. Sure enough, a printed quote good for 30 days was in my mail two days later. The rep said that once my application is approved, it will be renewed every six months, and they can't change the rates until that time comes (decrease OR increase), no matter what happens in the meantime. He also said that six months later the premium will be reconsidered and, since I never had insurance before, it would probably be less from then on. I made a note to myself, but I really just cared about right then.
A few days later I called the rep, he picked up the phone (yey, he gave me his real extension!) and asked me if he could call back in 20 minutes. He actually called back in 15! I don't know about you, but it was definitely a first for me. As I told him I was about to sign the lease in a few days and then use the services of his employer, he checked my quote and it came out $42 less than the printed version. "New York State is cutting one of their requirements, and we're passing the savings on to our customers," he explained. I didn't really mind. The day I signed the lease, my new car's ID number was faxed to AIG and within an hour they have returned the policy number that would start from the following week (the dealer provided me with a seven day insurance of his own).
The following week, I received the AIG application in the mail that I filled out to make my insurance fully official. My payments were split into monthly charges, with $3 fee added on. Then, after about five months passed, I got a renewal application in the mail and a new quote. It was some 40% less for the next six months. I couldn't believe my eyes! An honest auto insurance company, isn't that refreshing.
I never had to settle a claim with them, and I hope to never have to (knock on wood). Insurance is that mystery product that people buy in high hopes to never ever use it. Yet, as far as other aspects of their business go, especially pricing and customer service, they get my most enthusiastic recommendation.
Happy bargain hunting and drive safely.
Recommended:
Yes
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Epinions.com ID:
cheburashka
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Member: Igor Tsukerman
Location: New York, New York
Reviews written: 46
Trusted by: 81 members
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