INSURANCE Rates for Farm & Ranch? Combined with Auto?

[fried1765]

Ok I got the quote back from American National.

Auto is $60 more than Tx FB, but the liability was increased to 100/300/100k because of the cost of medical/cars.
Ok that is something to consider and probably needs to be done regradless with Tx FB if I stay with them.

The House/Farm/Equipment policy came back $570 cheaper than Tx FB.

I do need to follow back up with American National, I do rent heavy equipment a couple times a year and I can add that Tx FB under Ag advantage, very much cheaper than paying the rental company insurance.
i.e. A rental dozer worth $125 to $150k is only like $60 a month by adding to my policy. The rental company insurance would cost around $750 for the month.

I understand the need to make an upfront premium cost decision.
Unfortunately; the entire issue is really a crap shoot,...... until you have a significant claim.
There is absolutely no way to predict the end result.

 

[Siesta Sundance]

I understand the need to make an upfront premium cost decision.
Unfortunately; the entire issue is really a crap shoot,...... until you have a significant claim.
There is absolutely no way to predict the end result.

Yup.

Spoke with American National, they do have means of covering rental equipment.

She said their deductibles are $500 per piece of equipment vs. TX FB is $250 each.

American National can save me $570.
But if a fire came through, with the cheaper deductibles, I would come out ahead with just sticking with Tx FB.

 

[fried1765]

Yup.

Spoke with American National, they do have means of covering rental equipment.

She said their deductibles are $500 per piece of equipment vs. TX FB is $250 each.

American National can save me $570.
But if a fire came through, with the cheaper deductibles, I would come out ahead with just sticking with Tx FB.

Makes sense!
But.....as before....
The insurance thing is simply a crap shoot......until you have a meaningful claim.
IMHO, the entire auto/property insurance industry is sleezy.

Now....... I must go to call...... "Car Shield"....

 

[Siesta Sundance]

Makes sense!
But.....as before....
The insurance thing is simply a crap shoot......until you have a meaningful claim.
IMHO, the entire auto/property insurance industry is sleezy.

Now....... I must go to call...... "Car Shield"....

Let's take your insurance premiums and go to Vegas!

 

[fried1765]

Let's take your insurance premiums and go to Vegas!

Bring your premiums also!

 

[Siesta Sundance]

Bring your premiums also!

Sounds good. Now pick a 3 day or 4 day wknd in the later part of June.

 

[fried1765]

Sounds good. Now pick a 3 day or 4 day wknd in the later part of June.

At 82+ I am just too old for Las Vegas.

 

[Siesta Sundance]

At 82+ I am just too old for Las Vegas.

Just experienced, 82 is just a number, think as yourself as a young man in your prime!

 

[fried1765]

Just experienced, 82 is just a number, think as yourself as a young man in your prime!

I am not a politician
I cannot lie to myself!

 

[Siesta Sundance]

So in Texas the insurance rates just shot up! Just got my auto policy, 5 autos(3 trucks, 2 suv's) and 1 RV travel trailer, is now $3162 every 6 months. My policy increased $600+ since May of 2023.

Texas greenlit 39 rate hikes in Q2 2023

Rate hikes were approved for Allstate, State Farm and others

www.insurancebusinessmag.com

.

I'm sure this is going to happen with other states as well.

 

[Biker1mike]

New York Sate. Removed the road rat car and added a 2020 Kia Forte. Seventeen year assigned to the Forte. Pickup, Forte, and family car have full collision coverage.
Policy went from 2500 to 5300 with the new car. The teenage driver killed me.

 

[WFM]

With every wildlife or earthquake or hurricane. All our insurances increases.
Hawaii has the firestorm that burns up the town. We all pay. Insurance money goes into a pot. The more paid out of the pot then goes into the pot. Rates increase. It's not our fault there was a wildlife in California. Doesn't matter. We all pay. I live with a insurance agent and I hate insurance. Over the years my hate of insurance has lessened. But not by much.
A sister of mine says she's paid so much in insurance over the years to recoup any of it her property would need to burn flat.
She's not a insurance fan either. Lol.

 

[RCW]

My property (homeowner) premium has gone up 30% (?) in last few years.

Replacement/repair costs have gone up greatly.

Hearing similar with auto, although we haven’t seen big increases yet.

 

[fried1765]

With every wildlife or earthquake or hurricane. All our insurances increases.
Hawaii has the firestorm that burns up the town. We all pay. Insurance money goes into a pot. The more paid out of the pot then goes into the pot. Rates increase. It's not our fault there was a wildlife in California. Doesn't matter. We all pay. I live with a insurance agent and I hate insurance. Over the years my hate of insurance has lessened. But not by much.
A sister of mine says she's paid so much in insurance over the years to recoup any of it her property would need to burn flat.
She's not a insurance fan either. Lol.

From a homeowner only claim (1987) perspective, I estimated that I would need to live at least another 75 years before the total premiums paid would exceed the amount paid out.
That would be age 122 for me.
I am 83 now, but think it very likely that I will win that insurance gamble.

 

[mikester]

New York Sate. Removed the road rat car and added a 2020 Kia Forte. Seventeen year assigned to the Forte. Pickup, Forte, and family car have full collision coverage.
Policy went from 2500 to 5300 with the new car. The teenage driver killed me.

My biggest savings was to get my kids off my insurance and have them take over undr their own names. Better for them in the long run because our insurance here doesn't give them any "years of experienced driving" benefits and I pay higher rates because they are on my policy.

Real kick in the nuts was when I decided to go from 5 vehicles insured down to 4 to save money but my insurance went up overall because my multi vehicle discount went down. BOF scammers.

 

[GreensvilleJay]

In my 'fun' days I had 9 vehicles at the apartment( '67 Mustangs, CJ-5s,Willys PU and a '74 Honda 450-4). One policy covered whatever I drove, for years..then 'they' decided I needed separate policies for each, SOld most of the fleet that year...
Now just a '97 F-150 that costs me 72 Canadian pennies a day to insure. Life is simpler.

 

[Poohbear]

I switched a few years ago from State Farm after shopping. Price difference was substantial until the 1st renewal & the new price was way higher than SF so back I went. I have our land, shops, car/truck, house, tractor & RV bundled . Plus we have a large umbrella liability policy with SF also since my Wife is a co-owner with her siblings on land in NW Arkansas.. I used another specialized insurance for my airplanes and when in business had another insurer.. those 2 policies I shopped every renewal for a lower rate.

 

[Siesta Sundance]

I switched a few years ago from State Farm after shopping. Price difference was substantial until the 1st renewal & the new price was way higher than SF so back I went. I have our land, shops, car/truck, house, tractor & RV bundled . Plus we have a large umbrella liability policy with SF also since my Wife is a co-owner with her siblings on land in NW Arkansas.. I used another specialized insurance for my airplanes and when in business had another insurer.. those 2 policies I shopped every renewal for a lower rate.

Switched to whom?

 

[Poohbear]

Switched to whom?

Farmers , but I no longer shop around just stay with SF.

 

[Siesta Sundance]

Farmers , but I no longer shop around just stay with SF.

I requested auto quotes from; Germania, SF, Farmers, Progressive, American National and USAA.

Germania no longer writing auto, they now use Progressive.

I will post a list, least to most expensive once I get all the quotes back.