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I had state farm (auto) for a few years and at some point their algorithm just decided to screw me more than doubling my premium. My agent couldn't explain it
by siliconc0w 10y ago
I had state farm (auto) for a few years and at some point their algorithm just decided to screw me more than doubling my premium. My agent couldn't explain it so I just had to switch providers. Even this is basically a submarine for lemonade it'd be interesting to know how many insurers are using Machine learning and if not why not.
- toomuchtodo 10y agoI've always wondered if there was a market for a startup like Credit Karma for car/renters/homeowner's insurance. Instead of checking for cheaper rates at policy expiration, the broker startup would check constantly (daily? weekly?) across as many insurers as possible, and automatically have a new policy written for you if it was able to find another policy matching your existing coverage at a lower price.
- pkaye 10y agoWhy would the rates change so often? I thought they are based on some risk profiles that don't change that quickly.
- Spooky23 10y agoThey did you a favor, State Farm sucks at claim payment. Different insurers have different underwriting models. When I was a dumb kid, Progressive was the best deal, they sucked once I got married. If you have a good record/credit, you should get Amica, USAA or Erie, period.