Benefits to having continuous insurance with one company?

[VifferFun]

When i purchased insurance for the SV I shopped for quotes, I got 2 from different brokers both quoting Kingsway, and one was about $125 less than the other, and also happened to be the same broker handling my auto. This broker also promised me I could make 4 payments... Well I made my first payment, and picked up the bike. A month later I recieve my official policy documentation and what do ya know... the policy is costing exactly the same as the other broker quoted me and I have to pay for it in 3 payments not 4... I wanted to break stuff... $500+/mo coming out of my account vs 300+/mo

The broker doesn't know it yet, but he will not get next year's business and likely won't get the auto either.. I think more often than not loyalty is abused, all you need to do is sign on the dotted line and reach fer your ankles.

So sick and tired of companies and these practices of late...

Ok no more chapters...

The brokers/agents for a company should be quoting the same premium, given that the coverage is the exact same (limits, deductibles, endorsements, etc.). The broker messed up when entering your information (like a McDonald's order) into his rate calculator (like the cash register), but the underlying rates are still the same. If you are "buddy-buddy" with an agent/broker, they can't give you a special rate on insurance just because they like you . . .

Cheers!

[Skurj]

Yeah I guess if I was well aware of that going in I wouldn't have made the mistake. Either way, that broker has lost next year's policies. I don't care whether he made a mistake or not, what matters is he didn't say a word... Just sent the bill.

[VifferFun]

Yeah I guess if I was well aware of that going in I wouldn't have made the mistake. Either way, that broker has lost next year's policies. I don't care whether he made a mistake or not, what matters is he didn't say a word... Just sent the bill.

Are you seriously paying $125 a MONTH in addition to what you were originally quoted? I'm sure that you could have easily canceled the policy in this situation. Hopefully you are talking on an annual basis, and not monthly :S

Cheers!

[Skurj]

No its $125 over the year.
I received 2 quotes, one was around $1220 the other $1340, the one at 1220 happened to be the same broker who handled my auto insurance. The higher quote came from a broker who said I could make 4 payments, the one at 1220 said 3, so I came back and said make it 4 payments like the other quote I received and I would sign with him, which he did. Then I get my bill about a month later, the 4 payments have been changed to 3, after the first 25% had been paid, so instead of 3 more payments of around $325 I now have 2 payments of 500+ and the rate went up to the exact same as the other broker quoted.

[VifferFun]

No its $125 over the year.
I received 2 quotes, one was around $1220 the other $1340, the one at 1220 happened to be the same broker who handled my auto insurance. The higher quote came from a broker who said I could make 4 payments, the one at 1220 said 3, so I came back and said make it 4 payments like the other quote I received and I would sign with him, which he did. Then I get my bill about a month later, the 4 payments have been changed to 3, after the first 25% had been paid, so instead of 3 more payments of around $325 I now have 2 payments of 500+ and the rate went up to the exact same as the other broker quoted.

OK, $125/yr isn't nearly as bad as $125/month :P It sounds like this was simply an error. I would get your broker to explain the difference in premium over what was quoted to you originally.

Cheers!