Switch Insurance or Not?

[flower04]

Hi all-

We are going to be filing 13 in about 6 weeks. I can't believe how many little things we have questions about and I am so grateful for this forum and all of you who answer.

We currently have home, auto, etc. insurance with USAA. We also are bk a 2 cc's from USAA. We received quotes from State Farm (a recommended insurance agency from our attorney) and the quote was much higher than what we currently pay with USAA...about $60 more a month for the same coverage.

We pay month to month so it is worth spending the extra $60 a month with State Farm before we have a BK on our credit or should we wait it out to see if USAA cancels our policy. I want to just move to State Farm and cut all ties with USAA, but my DH thinks we should stay with USAA until our policy is up in about 9 months.

THanks

[BK2008]

I'd leave your insurance alone. CC has nothing to do with insurance, plus you are probably receiving hefty discounts because you have your HO and auto together. If you are a long time USAA customer on your insurance, they might not even change your rates. I know allstate didn't on mine because of BK.

Deal with insurance when and if it actually becomes an issue.

[mynameainttracy]

We were in the same situation, 2 ccs and insurance with USAA. As much as we hated to do it, our attorney recommended we change and it was a calculated risk. We could stay with USAA and if they cancelled us then we would be faced with switching after our credit had been destroyed. We chose to go ahead and switch to State Farm. They are a little higher but we get a little better coverage. I had them for years before my husband and I got married so for me it wasn't a big deal. One bright spot is that exactly 6 months after we cancelled with USAA we got $3200 back from them and the subscriber savings account.

[nchpycampr]

I work for a State Farm agent. If you plan to switch to them do it before you file. After you file the rate would be even higher for a new business quote. Once you are with SF, the bankruptcy would not affect your rates. It is only a problem with new business. You should double check that with the State Farm agent's office you are working with. I am in NC and some rules, etc. vary by state.