Is it worth it calling different agents within the same company (e.g. different State Farm agents) for quotes. Will they give you differing quotes?
THanks
THanks
Rate discrepancies between agents of the same company
- Thread starter wings
- Start date
I called 3 different agents that worked with Jevco, one gave me 3k+ one gave me $1400+ and the other $1500. I went with the $1500 as i felt he knew what he was doing and he got the quote directly from Jevco by phoning it in.
So sometimes it doesn't hurt to shop around just to make sure you aren't getting screwed due to someone's mistake.
So sometimes it doesn't hurt to shop around just to make sure you aren't getting screwed due to someone's mistake.
Did you compare the details of the quotes side by side? What was the difference?
I gave them the same details so it should be the same but it wasn't. I think it was because some knew what they were doing and some didn't. For example, one person said Jevco only accepted people over 21, so i asked him to give Jevco a call and guess what... he was wrong. That was the person that gave me the high quote.
The difference might have been because some agents have higher fees than others. Some make $200 of facilities while others might be more or less.
$3000 comapred to $14000 hmmm thats a big fee.
Typically the brokerage fees/commision are the same. They get a bit more on the back end based on portfolio performace and volume growth.
The discrepancies are usually do to "assumptions" in coverage. Liability limits, deductables. So, you give the agent your info, age, time licenced, tickets etc. But, one agent may quote you 1 million liability and $1000 deductable while another may go 2 million and $500 deductable.
Keeping in mind the first point, some brokers/agents may discourage some business by quoting the worse possible scenario to try and maintain a clean portfolio. It's not common but, it does occur.
Kind of basic examples but, the principal is the same. The quotes should be the same within the same company as long as all the information they use is consistent.
So, what is the lesson? It does help to call around. Even agents within the same company.
Lastly, the cheapest quote might not be right coverage for you. So, make sure you know what your coverage is to make an informed decision.
The discrepancies are usually do to "assumptions" in coverage. Liability limits, deductables. So, you give the agent your info, age, time licenced, tickets etc. But, one agent may quote you 1 million liability and $1000 deductable while another may go 2 million and $500 deductable.
Keeping in mind the first point, some brokers/agents may discourage some business by quoting the worse possible scenario to try and maintain a clean portfolio. It's not common but, it does occur.
Kind of basic examples but, the principal is the same. The quotes should be the same within the same company as long as all the information they use is consistent.
So, what is the lesson? It does help to call around. Even agents within the same company.
Lastly, the cheapest quote might not be right coverage for you. So, make sure you know what your coverage is to make an informed decision.
I would suggest that anyone looking to quote a bike use the brokers/agents listed in the sticky, since they are most likely to know what they are talking about when it comes to bikes. Sometimes the definition of a "sport" bike can be vague or difficult to interpret for brokers who don't ride or know little about motorcycles.
