ALL THOSE insurance ads........

.... the and hoes ... the insurance agents and .....

The Patrick price and Rodgers rates .....

WHY DONT they just REDUCE the $$$ they steal from us and stop paying those HANDSball players those huge nutT $$$$ ....

Ur thoughts ? ...

If you listen to the whole commercial they say they didn't get a special rate they got the same (low?) rate as everyone else.That's supposedly the whole idea of the ad.

But stumpy .... if you think EITHER OF THOSE pay a thin dime for ALL THEIR INSURANCE NEEDS ... plus get paid big bux

LOOK at that Liberty Mutual ad .... in Florida... they are not competitive at all

It must be exhausting constantly worrying about how much money other people make.

nutTcharger..... I will BEAR THAT BURDEN.....travel that highway ....it’s my MISSION IN LIFE !

And I see that you’re ENJOYING THIS TOO .....

Moving it from the UNmoded section to here ...

It doesn't belong in the current events forum.

But nutT ... the way these insurance companies are CURRENTLY BLANKETING the air ways with these ads ..

THEN .. how about the State Farm one on that postage stamp island

It's advertising. What company out there that sells retail doesn't advertise?

But for such a huge industry... some of their advertising is flat out dumb-azz !

Rodgers rates .. Patrick price ?

Just how much do those two actually pay for their insurance coverages ?

And Patrick? ... hoping that overpaid HANDSballer goes down in flames !

500m $....

Every now and then a commercial appears that is so irritating that I have to change the channel or leave the room whenever it comes on, thanks to whatever insurance company it is that’s running those obnoxious “clogging problem” and “fencing problem” commercials now.

My mom hates those! And the SUV ad where they change the setting and they are in different locations

mS ... actually THE WORSEest ads are the MY PILLOW ones ....

that guy is creepy

Ever thought of seeing a shrink? EDIT... Wrong section.

Why do you care? How does what they make for being on the commercials, or what they pay for their car insurance, impact your life in any way? Honest question.

Because nutT ... it’s my LIFES MISSION !

And poTOE ... who TINKLED in your corn flakes ?

dS ... creepy? ... but that cHeEzY burgherguy LOVES his pillow !

He MOSTLY uses that on the starting line racing his DUSTpan !

Yes he is.

What's with all the black and white couples in the insurance commercials?

That’s called DIVERSITY !

All the moparts winter sparring aside, it would be interesting to know how effective TV advertising actually is toward bringing in new customers.
I don’t turn away or switch channels when the Duster and emu commercials come on, but without looking online to find out, I don’t remember what company it is running that series, so at least for me it wouldn’t influence me to get a quote from them. I remember one year after watching the Super Bowl I saw a online quiz about the commercials, listed the commercials and you were to match the commercial to the company it was for, I failed the quiz miserably and yes I watched most of the commercials during the broadcast.
Around 10 years ago I started looking into a collector car insurance company as I was getting nervous about my State Farm “stated value” policy. Hagerty’s quote wasn’t much more than State Farm but I didn’t pull the trigger. It still on my mind, so I requoted a few times in following years, my State Farm rates stayed about the same but Hagerty went up and up until at some point it was near double what they quoted me just a few years earlier.
I saw more and more Hagerty advertising during that time, sponsorships at auctions, as well as booths at car shows giving away piles of their swag and magazines and wondered if their rates were jumping to pay for all of that?
I eventually talked to an insurance broker and they got me a very reasonably priced collector car policy. All was fine and good, but last year Hagerty bought that company’s collector car business, and for my renewal they offered to continue for a year at my previous rates, but next fall when I am up for renewal I expect my rates to skyrocket unless my broker finds me another company. I appreciate their sponsorships and swag, don’t mind their commercials, but I won’t pay a higher rate for their product to fund their advertising.

Its called BS.

Doc.... Just a lil cranky this am, I am.

For companies that are good at it? Very. They wouldn't spend the money on it if it wasn't.

Maybe its my closed mind but never has a commercial or ad on the level you mention has influenced me, all they spew about helping me and this and that is really about them making money off me. USAA has been great through the years and with zero issues or headaches with them on home or auto EVER and vs what I hear others pay...im good.

Seems like a couple ins. companies use TV ads far more then others.

Ads influence just about everyone, whether they realize it or not. The psychology behind marketing/advertising fascinates me. It's why I majored in it in college.

Ads influence just about everyone, whether they realize it or not.

So how does no response from a TV ad show influence on me? Does it make me want to stick with USAA more, helping them? Id say no because I was happy with USAA before I heard the AD.

Lets here it, but dont get all JCC like on me here please.

One possibility is what you mention, that it helps influence your decision to continue to stick with USAA. It also increases name recognition, it associates the commercials with the brand. It plants a seed. Advertising is designed to increase business over the long haul, not just today. The fact that people recognize the ads and associate the company with the ad is an indicator of a successful ad.

The subconscious mind works in ways that we don't often stop to think about. That's actually the point.

Well Mr Rodgers just gave $500,000.00 to small businesses in WI yesterday

Maybe that was his Discount Double Check

And look at that...a slogan from an ad campaign that hasn't been used in a few years makes an appearance and is associated with both the brand and the spokesperson. Like I said...

I don’t understand the car/home insurance business at all. Brokers for home and car insurance seem to always represent one company. In my aviation life a person buying a plane calls a broker who works with them to determine their needs then shops around to find the best insurance company for their needs. I don’t think too many people if anyone buys a plane and then calls Avemco to buy insurance for it because they saw an ad in Flying magazine or were given a Coozie at an air show. You use a broker.
Same with the broker I use to find my collector car insurance, they search among insurance companies for the best policy for the customer.
I’ve been with State Farm almost my whole driving life because they’ve been good to me and helped me on several claims, but if I was in the market I’d rather use a broker who could shop many companies than call a company because I saw a cute commercial or because an Allstate or American Family broker sends me some junk mail.

2 different kinds of agents/brokers:

- Captive - these are aligned with only 1 company, which is required by the company. State Farm, Allstate, Nationwide, and a few others all require their agents to be captive agents.
- Independent - these are aligned with multiple companies, but they can only sell companies that do not require captive agents. You won't see someone selling Allstate and Met Life, for example, but you might see someone selling Met Life and Progressive. Met Life and Progressive don't require captive agents. Allstate does.

I’ve noticed that some of the insurance guys at Hagerty booths at car shows handing out all the swag have business cards listing some other large company like I think remember one was Allstate. Do some “captive” companies allow their brokers to sell other specialty insurance that they aren’t into?

If Allstate doesn't "own" Hagerty they have some sort of marketing arrangement. My premiums still go through an Allstate agent somehow despite having dumped Allstate over a decade ago.

Get a DVR (or two) and you'll never have to watch another commercial.

DVR ? ... I’m yesterTECH in VCR land !

Still looking for the elusive one that pauses recording on the commercials

Good question. The answer is yes. There are multiple companies, some that are captive and some that are independent, that have agreements with other companies like Hagerty. It allows the major carriers to sell specialized products without having to actually own the specialty insurer.

... kinda like sharks ... with bloody chum in the water !

Flo sure has worked for Progressive - there's an awful lot of adult Flo material out there

The most successful marketing campaign this century.

TIVO has a "skip" button...pretty much the same thing.

https://tivoidp.tivo.com/tivoCommunitySupport/s/article/SkipMode

Well you do have the option of taking on all the risk and self insure yourself if you feel insurance companies are so crooked.

Ahhhh .... yur bringing up an option that the in the insurance biz DONT LIKE ...

Remember THIS HOUSE ?

Why would insurers care if you chose to self-insure? The # of individuals who qualify to self-insured AND choose to do so is tiny.

One of these days, you might actually think something through before you post it. I doubt it, though.

Oh my gooooness... a little TOUCHY THERE nutT ....

There’s LOTS OF BUILDING going on here .. especially out with GulfOmex waterfront.....

MOST are being overbuilt and SELF INSURED ...,

And YOU SAY the insurance companies DONT CARE ?!!

PANTS ON FIRE !

News flash...insurers aren't excited at all about insuring buildings in Florida. The ones that do so, do so for a combination of two reasons:

- because the state won't allow them to sell other insurance products without offering honeowners insurance as well
- the insurer doesn't want to lose the "I keep all of my stuff insured with the same company" customers

The state does allow them to charge a premium amount to reflect the risk inherent in insuring buildings in Florida, which creates a price that makes self-insuring more attractive AND avoids upsetting the "I keep all my stuff insured with the same company" crowd. Thus, the insurer keeps all of the more desirable business,and loses the business they don't want, and they do so while following the state department of insurance requirement that they offer homeowners insurance. So no, insurers don't care about a small segment of the market choosing to self-insure a risk that the insurance company would rather not have on their books.

Come on now ... you work in a business that gives CHEAP OUT and TIGHT WAD new meaning

And that’s fine ... but don’t make it out to be that you guys are SANTA CLAUS. !

What are you blabbering on about now? My answer has nothing to do with anything along those lines.

BLABBERING ?

How about some more ? .. just how much do insurance companies COLLECT ..,, then PAY OUT in claims ?

20% ?

The REST in consumed IN HOUSE ..... I suggest !

I answered that question before. I don't know what the goal is for other companies, but ours is to make $0.04 on every premium dollar earned, which means that our goal is to pay $0.96 of every dollar. If we make more, it allows us to reduce rates and get more new customers, and to retain existing customers for a longer period of time. This is one of the reasons State Farm has been bleeding market share for years. They suck at underwriting. They pay out far more than they earn in premiums.

Not sure why you continue to waste time responding to him?

He has shown he is unwilling and incapable of understanding.

Define ... premium dollar earned ....

And you are suggesting that the regular insurance company ONLY NETS 4% ?

And then PAYS OUT out of that 4 points all overhead ... salaries bonuses etc ?

Premium dollar earned = Your insurance costs $1,000 per year, as an example. That's the amount of your insurance premium. When you take out the policy, that $1,000 represents $1,000 premium dollars written, aka sold. However, premium dollars earned only represent the amount you've paid to that point. If you pay in full each year, as I do, the premium dollars written equal the premium dollars earned on day 1 of your policy period. If you don't, the premium dollars earned are whatever you've paid toward that $1,000, and the premium dollars earned amount increases with each payment you make toward your $1,000 total premium.

The net underwriting profit goal is 4%, at least where I work. If you are making more money off of the premiums than you intend to, it's an indicator that your prices are too high relative to the risks you have underwritten. In the short term, that might sound great, because who doesn't want more money, right? However, if you're making "too much" money consistently over the course of several months (NOT years, months), you're going to hurt your chances of getting new business, which is not good. Much worse, however, is you run the risk of chasing off your existing customers, and THAT is where you will go from making too much money to losing money very quickly.

The goal is to price properly so that you can keep your existing customers while earning new customers at the same time. That's what we've done for years, as has Geico. We're better at underwriting than any other major company. That's the reason we've taken so many customers from State Farm. It's also why SF will have gone from having 34% of the auto insurance market...at one time, though to be completely untouchable, as 2nd place at the time had about 18%...to being in 3rd place within the next few years. Us and Geico will both pass them. It's just a question of when. There's nothing SF can do to stop it. It's a horribly managed company that sucks at underwriting, is extremely adverse to change, has never had to aggressively earn new business until maybe 15 years ago, and is not held accountable because they are not publicly traded.

THX for the yadi yadi yada .... but WHAT are the bottom line numbers ... on the whole ?

What are your GROSS SALES numbers ?

I must have missed it, but who do you work for Not a Charger?

I honestly don't pay much attention to it, but we're one of the few Fortune 500 companies (maybe the only one? we used to be the only one, I think) that report financials monthly instead of quarterly. It's all public info. You're welcome to look it up.

I pay attention to growth rates, and I pay attention to the underwriting profit #'s, because those are the two things that determine how much my bonus will be (if any). Make a ton of $$ but no growth? Not much of a bonus. Grow like crazy while losing money? Not much of a bonus. Grow consistently and profitably? Pay for kids' college and not have to work until I'm 70 years old.

The #2 (or #3, depending on the day) auto insurer in the US.

Actually State Farms goal was always to have a small underwriting loss every year. They easily recovered that in investment income. Last year they lost almost million policies. Guess what they did don't care. Most of those were policies they didn't want. As to poor underwriting that is a two fold problem. A poorly written policy with over generous pay out for additional cost of living expenses, poorly written covered loss descriptions to name a few. Some of this was addressed in the last policy rewrite. Add in a claims force that is poorly trained and almost completely elimination of field underwriters. The place is sh!t show now. Retired in May of this yr w/28 yrs on the job because I couldn't stand to work there any longer. Some of the unethical stuff upper management is forcing on claims will eventually come back to haunt them. I uave my pension and nice 41k and enjoying Florida in the winter qnd Ohio in spring, summer and fall.

Just for S and G's when I started with the Farm in 1992 they were worth 4 billion. Today its over 100 billion.

Right. Was that way for many, many decades The problem with that is they no longer have 34% of the market. That model works when you're double the size of 2nd place. Not so much when the competition starts taking your customers, and you all of a sudden HAVE to be able to underwrite. They can't.