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03-21-2012, 05:58 PM
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#1
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Montana Fan
Join Date: Mar 2011
Location: Rising Fawn
Posts: 353
M.O.C. #11268
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CW insurance
Got my new policy today and noticed that CW's carrier (GMAC) is charging a $1 fee per payment when you pay your premiums in monthly installments.
Then I saw my policy included a $50 "acquisition fee." When I called GMAC, they told me that fee is added to every policy renewal.
So not only are they charging me a dollar for every payment I make, they are adding a $50 fee every time the policy renews.
That stinks.
They also have a $50 cancellation fee, but I think I'll feel better paying the cancellation fee when I find another insurance carrier.
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03-21-2012, 06:49 PM
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#2
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Montana Master
Join Date: Jun 2004
Location: Benson
Posts: 3,121
M.O.C. #1658
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Any way to get more money out of your pocket
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03-21-2012, 07:49 PM
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#3
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Montana Master
Join Date: Aug 2011
Location: Vancouver
Posts: 1,284
M.O.C. #11675
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I just went with Explorer RV recently and they have a $20 "policy fee" added to any new policy and renewal. I tried to get it waived, but they didn't budge.
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03-22-2012, 02:55 AM
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#4
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Montana Master
Join Date: Feb 2008
Location: Winthrop Harbor
Posts: 1,832
M.O.C. #8160
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We switched from State Farm, which was our primary for all coverages, to Progressive 3 years ago. State Farm charges $1/month for payments but no add. fees. I also pay an extra $1 for Progressive w/o fees and really enjoy working with Progressive. I had 2 claims last year and my rates did not increase.
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03-22-2012, 03:00 AM
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#5
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Montana Master
Join Date: Jun 2010
Location: Colorado Springs
Posts: 3,335
M.O.C. #10496
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Think about the money they are raking in with these fees AND there's no value added for the fees. What a racket. They should be ashamed of themselves.
__________________
2010 3150RL
LevelUp, Dual 6 volt batteries, Progressive Industries EMS HW50C, Honda EU2000i Generator, Bridgestone Duravis R250 tires, Torklift Glowstep Revolution Stairs, LED Tail lights
2015 RAM 3500 Laramie SRW LB CC Cummins 6.7L Aisin Trans B&W RVK3600
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03-22-2012, 03:20 AM
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#6
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Site Team
Join Date: Jun 2011
Location: Wilsey
Posts: 18,799
M.O.C. #11455
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Just another example that most of the thieves in the US don't need to use a gun or work with a mask!
Thanks Pat for the info! They were on my list to check out when we get the house sold and have to change carriers. They're off it now.
__________________
Dick, Joyce, Diego, Picatso and Gustav
2017 3720 RL, and 2013 HC 343RL
Pullrite Hitch, IS, Disk Brakes, 3rd AC, Winegard Traveler, Bathroom door mod, Dometic 320, couch for desk swap, replaced chairs, sun screens, added awnings, etc.
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03-22-2012, 03:26 AM
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#7
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Montana Fan
Join Date: Feb 2012
Location: Homosassa
Posts: 307
M.O.C. #12211
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That way they can advertise low rates, but forget to tell you about the add ons.
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03-22-2012, 03:41 AM
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#8
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Montana Master
Join Date: Mar 2010
Location: Land O Lakes
Posts: 2,783
M.O.C. #10246
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Quote:
quote:Originally posted by CORattler
Think about the money they are raking in with these fees AND there's no value added for the fees. What a racket. They should be ashamed of themselves.
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Agree.
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03-22-2012, 08:27 AM
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#9
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Montana Master
Join Date: Nov 2007
Location: Kville
Posts: 2,865
M.O.C. #7871
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Quote:
quote:Originally posted by patbarton
Got my new policy today and noticed that CW's carrier (GMAC) is charging a $1 fee per payment when you pay your premiums in monthly installments.
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That's normal. You'll pay no extra fee if you pay annually, a small fee to pay semiannually, a slightly larger fee to pay quarterly and the largest fee to pay monthly. All things considered, a buck a month extra is not bad.
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03-22-2012, 12:15 PM
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#10
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Montana Master
Join Date: Dec 2007
Location: Kansas City, Missouri
Posts: 2,708
M.O.C. #7992
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Quote:
quote:Originally posted by CORattler
Think about the money they are raking in with these fees AND there's no value added for the fees. What a racket. They should be ashamed of themselves.
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The $20 and $50 fees sounds to me like a rate increase. Regarding the monthly payment fee I don't know why the provider should be ashamed of themselves for covering their expenses. There may not be a valued added for the fee but the carrier's expense increases when they have to handle 12 payments instead of one. Doesn't matter if they are doing it manually or electronically. Jim
__________________
2006 3000RK
2009 Ram 2500
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03-23-2012, 09:23 AM
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#11
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Montana Master
Join Date: Jan 2009
Location: Vermontville
Posts: 1,129
M.O.C. #9045
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Don't believe the problem is with the added $1.00 for monthly payments. The problem is adding a $50.00 fee to renew and existing policy. Now that is a problem for me also. In fact I have GMAC as of now and reluctantly but because they were less expensive I went with them. My bad, I should know better. Will be changing my policy to someone else. I also had a problem with GMAC once before when some salesman, top manager or whatever took his laptop home left it in his car and it got stolen with 1000's of clients names, Social Security numbers and info on it. Why in the world would you leave that kind of info in your car unattended? Again, my bad for staying with them. They are on there way out now. USAA looks pretty interesting, will check them out.
Dave
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03-24-2012, 08:07 AM
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#12
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Montana Master
Join Date: Aug 2004
Location: Cedar Rapids
Posts: 4,876
M.O.C. #1944
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Quote:
quote:Originally posted by denandannie
I used to work as an auto underwriter for State Farm. Of course I am insured with them on the Monty. The premium is not as high as Progressive and not as low as others. Like some said, it depends alot on the cost of the Monty, plus what coverage you need. I have stayed with SF because I know what their customer service is like, and that is worth alot of peace of mind. I know they don't charge $50 bucks to renew your policy. They do charge $1 a month if I pay monthly. My suggestion is to stay with your insurance company because the longer you are with them, the better it is. Meaning, you build up seniority. And they bend over backwards to keep long time policyholders happy.
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I would have loved to stay with SF but when we went full time in 2000 they dropped us. We'd been with them 30 years and yes, it was because of their customer service. However I could not get anyone with SF to clarify for me just why being full time in an RV should change your insurability.
Orv
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