CW insurance

[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.

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.

[8.1al]

Any way to get more money out of your pocket

[seahunter]

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.

[c214dick]

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.

[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.

[DQDick]

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.

[southern thunder]

That way they can advertise low rates, but forget to tell you about the add ons.

[CamillaMichael]

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.

Agree.

[TLightning]

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.

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.

[jimcol]

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.

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

[Champ_49]

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

[ols1932]

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.

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