Insurance experts, I have a question

[88GT]

I'm switching insurance carriers for home and auto, and one of the companies told me that they had to "point rate" me for the auto quote. What the hell does that mean?

She said she did it on a single vehicle, and the end result is that the insurance for that vehicle is more than [STRIKE]twice[/STRIKE] two and a half times (I just did the math) what I pay with the old carrier. (Incidentally, it's also the cheapest of the four vehicles currently covered.) I'd be paying as much for 3 vehicles with the new carrier as I'm paying for 4 now.

And, yes, I've asked her for an explanation, but I wanna hear it from someone who's not counting on earning my business and has nothing to lose and nothing to gain.

Thanks.

 

[rhart]

Im not an expert but I just went through changing carriers myself. I was told that the insurance companies have thier own rating system that evaluates your risk. It involves lots of things like weather we are smokers, our geographic location, me and my spouses occupation, the claims we have made in the past, the "type" of vechicles we drive and even ourcredit score.
I suggest getting your Declaration sheets and get more than 1 quote.
By shopping around and changing companies, we saved about 35%. I think our old company, Farmers got a little greedy and assumed that after 20 years of loyalty, we would just assume we were getting a fair deal. Wrong!