Does anyone have experience with The Economical Insurance Group Waterloo?

[Mikel]

I just got a quote from them and it was really good! I am currently with statefarm, and by switching to the Economical Waterloo I will save over $1000 on car insurance alone. My only concern is how reliable of a company they are for making claims and emergency cases.

I have:

2006 Audi A4 2.0 quattro
2009 Toyota Corolla XRS

Statefarm charges approx $1200 for the audi / year, and $2100 for the Corolla. With the new company they are charging approx $1100 for each car, so $2200 approx in total, its actually a bit less than that.

I just want to know if anyone else here is using them and if they've ever had to make a claim?

[LittleSaki]

Used to work for them - they're pretty good. Just like dealing with any-other insurance company when submitting a claim.

[ABadjusterrider_5]

Used to work for them - they're pretty good. Just like dealing with any-other insurance company when submitting a claim.

Didn't they get bought by someone?

[VifferFun]

Didn't they get bought by someone?

I think they are going through a de-mutualization right now. From what I've heard, it's kind of messy :P People an still be confident that their claims will be paid though . . . I wouldn't be concerned.

OP, I presume that the Corolla was being operated by a more risky driver than the A4? That's a big premium difference between the two cars.

[Mikel]

It is a big premium difference. Both cars are in my name and just myself and my wife drive them. We both have immaculate driving records. At first I thought it was high because its the sport version of the corolla with the bigger engine in it. The one thing I don't like about state farm is that you have to assign mileage to each vehicle. In my case that's hard because we have a 2 car single lane driveway. So it's a 50/50 chance which vehicle I'll be driving to work and all depends on which one was last in the driveway. The audi is setup to be driven like 15km daily while the corolla is much higher (apparantly that didn't affect the premium that much). In reality I probably put much more mileage on the audi, when I asked my agent about this they told that we should just leave the cars the way they are because if we start changing things, auditors could start looking into my coverage.

[VifferFun]

It is a big premium difference. Both cars are in my name and just myself and my wife drive them. We both have immaculate driving records. At first I thought it was high because its the sport version of the corolla with the bigger engine in it. The one thing I don't like about state farm is that you have to assign mileage to each vehicle. In my case that's hard because we have a 2 car single lane driveway. So it's a 50/50 chance which vehicle I'll be driving to work and all depends on which one was last in the driveway. The audi is setup to be driven like 15km daily while the corolla is much higher (apparantly that didn't affect the premium that much). In reality I probably put much more mileage on the audi, when I asked my agent about this they told that we should just leave the cars the way they are because if we start changing things, auditors could start looking into my coverage.

The Audi is a more expensive vehicle to insure, so you are paying much more on the Corolla due to other rating characteristics (such as the assigned driver or the stated use). If you have a high commute and/or a high annual mileage on the Corolla compared to the Audi, that could cause some of the difference. Perhaps the operator of the Audi is over 25yo and the operator of the Corolla is under 25yo?