That has to be one of the dumbest reasons I have ever heard for ordering a rate decrease. People can’t afford it? So what? I can’t afford a lot of things so I shop elsewhere or don’t buy them. What idiots in the la la state think they can simply continue to vote themselves decreases and maintain the market forever? I’m glad my company decided not to write there.
That’s okay. The DOI is ignorant to the insurance concept because it is a state agency run by a politician.
Allstate can just manipulate the replacement cost calcs higher to offset the decrease in premium for everyone. That’s how companies in California have gotten rate increases and decreases. The DOI and Californians fail to understand the concept of one house…one fire…one cost to rebuild.
The DOI is the same when it comes to the idea that everyone has the same exposure to loss regardless of where they live. I’m embarrassed that they and other Californians fail to understand the shear difference in cost of living differences between given areas of any state.
And out comes the Magic Wand to miraculously lower insurance prices while allowing the companies a ‘fair’ profit. Why not just charge $5 a property? Everyone can afford that, just make the companies shift costs to other states!
Señor Rick,
You are a man lacking in compassion. Getting help from others is not an indication of not being self reliant. One day you also will give thanks that someone else reached out to help you.
Allstate is not writing new business in CA under their umbrella of companies (now selling Pacific Specialty) and that is all that matters. They wanted 9% and were forced to lower them by 28%. This is gonna kill their loss ratios and I love it. Allstate, Farmers and Statefarm are your best salesman. If you have Travelers, Kemper, Allied, Safeco or Hartford like I do, this is nothing but good news. Rejoice indies. Customers will shop them and drop them for your product…oooh yah
Okay Steve. You make it sound simple. From my experience with these companies they look askance at anything coming from Allstate because they know that it basically residual business that cannot leave. Those folks have been in “good hands” for awhile and may only be “slapped” by those other companies. Allstate will have to raise rates outside California to offset what they lose here. Don’t be givin’ those folks flase hope. You shoulda left your phone number on your posting if you were going to prospect them.
I have been taking this business from the overpriced Allstate,Statefarm and Farmers for at least 6 years now and speak from experience. There is no false hope here when I look at the numbers I have written and the contingeny checks I get for a running 4 years loss ratio in the low 20s, most of the business in homeowners. Either you dont have a clue or you dont write this line of business in this state. In either case, stick to what you know – whatever that is- and in this case you dont. Word up fool
Prospecting insurance from Allstate, family, and friends quickly come to an end. My personal lines production commissions exceed $300,000. per year. So who’s crying now? By the way you misspelled that word.
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That has to be one of the dumbest reasons I have ever heard for ordering a rate decrease. People can’t afford it? So what? I can’t afford a lot of things so I shop elsewhere or don’t buy them. What idiots in the la la state think they can simply continue to vote themselves decreases and maintain the market forever? I’m glad my company decided not to write there.
That’s okay. The DOI is ignorant to the insurance concept because it is a state agency run by a politician.
Allstate can just manipulate the replacement cost calcs higher to offset the decrease in premium for everyone. That’s how companies in California have gotten rate increases and decreases. The DOI and Californians fail to understand the concept of one house…one fire…one cost to rebuild.
The DOI is the same when it comes to the idea that everyone has the same exposure to loss regardless of where they live. I’m embarrassed that they and other Californians fail to understand the shear difference in cost of living differences between given areas of any state.
And out comes the Magic Wand to miraculously lower insurance prices while allowing the companies a ‘fair’ profit. Why not just charge $5 a property? Everyone can afford that, just make the companies shift costs to other states!
I feel sorry for those that cannot help themselves. However being too lazy to shop around does not place one in that group.
Sorry, Dia, this country was made great by being self reliant.
Señor Rick,
You are a man lacking in compassion. Getting help from others is not an indication of not being self reliant. One day you also will give thanks that someone else reached out to help you.
Allstate is not writing new business in CA under their umbrella of companies (now selling Pacific Specialty) and that is all that matters. They wanted 9% and were forced to lower them by 28%. This is gonna kill their loss ratios and I love it. Allstate, Farmers and Statefarm are your best salesman. If you have Travelers, Kemper, Allied, Safeco or Hartford like I do, this is nothing but good news. Rejoice indies. Customers will shop them and drop them for your product…oooh yah
Okay Steve. You make it sound simple. From my experience with these companies they look askance at anything coming from Allstate because they know that it basically residual business that cannot leave. Those folks have been in “good hands” for awhile and may only be “slapped” by those other companies. Allstate will have to raise rates outside California to offset what they lose here. Don’t be givin’ those folks flase hope. You shoulda left your phone number on your posting if you were going to prospect them.
Money homey – Money
I have been taking this business from the overpriced Allstate,Statefarm and Farmers for at least 6 years now and speak from experience. There is no false hope here when I look at the numbers I have written and the contingeny checks I get for a running 4 years loss ratio in the low 20s, most of the business in homeowners. Either you dont have a clue or you dont write this line of business in this state. In either case, stick to what you know – whatever that is- and in this case you dont. Word up fool
Prospecting insurance from Allstate, family, and friends quickly come to an end. My personal lines production commissions exceed $300,000. per year. So who’s crying now? By the way you misspelled that word.