Why Don’t Agents Have to Stick To the Given Quote? - Nationwide - Auto
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My twenty year old daughter has just purchased her first car. I was very proud of the fact that she was shopping for a reasonable car, and she enlisted the help of my father. Since he was going to co-sign for her, it was important that he approve what she was purchasing.
They finally settled on a 1998 Ford Escort Sport, but she was also looking at a 1997 Ford Probe. We knew that the insurance on the Probe would be higher than the Escort since it was classed as a sports car.
My dad got the car payment into a price range she could afford, but then we had to look for insurance for her. I called about 10 local insurance agents, all ranging anywhere in price from $250.00 per month to over $300.00. Since she is under 21, and has had no insurance on her own before, she was going to have to go on high risk insurance. There was no way this was going to work into her budget. She only makes slightly over $200.00 per week, and the car was going to take one full weeks check.
Until I heard back from our local Nationwide agent, they quoted me $175.00 per month. Now as I go on with this little tale, please keep in mind, that when you call for insurance quotes they request the following information; drivers license number, social security number, and the vin (vehicle identification number) of the car.
Well we totaled up her expenses, $200.00 for the car plus $175.00 for the insurance is a total of $375.00, she makes approximately $800.00 per month, so she was going to need to save about $90.00 per week to make all of her payments. That would leave her $110.00 per week for gas and any other things she may need. Now granted she lives at home, but she does do things with her friends. Plus she will be responsible for oil changes, inspections and car maintenance.
We agreed that she could cash in several of her older savings bonds to purchase her first month”s insurance, since she hadn”t saved any money in preparation for the car purchase.
We went into the insurance agency before we picked up her car to do all of the paperwork needed. The lady at the agency was extremely friendly and helpful. She was going to have full coverage insurance (which is mandatory with a financed car), with $500.00 deductible, and limited torte, fairly basic insurance.
The next month when the car insurance bill came instead of the expected $175.00, the bill was over $300.00! I immediately called my friendly neighborhood agent and asked what in the world was going on. She explained that when they punched the car into their computer, it did not show up as an Escort Sport, just a regular Escort. When it got to the main companies” computer, they picked up the Sport package. The Sport package (which is a spoiler on the rear of the car, and a very small front ground effect front spoiler) was going to cost my daughter and extra $100.00 per month, plus she was being charged for what they had undercharged her last month. I explained to the lady, that we had figured my daughter”s entire car budget on her quote. If the price was going to go up $100.00 per month, she was not going to be able to afford the car. Our agent said she was terribly sorry, her hands were tied, there was nothing she could do.
So we cashed in another savings bond to make up the difference between what my daughter was prepared to pay, and the actual cost.
The third month”s bill came, and it was $295.00, higher yet. Needless to say we got her insurance through the company handling our new homeowner and new commercial insurance policy, for $209.00 per month. Next year when she turns 21, it will go down an additional $40.00 per month. Granted this is higher than she had first planned on paying, but this company does not see any difference between an Escort and an Escort Sport. Which other than the two things I mentioned before, there is no difference. The 4 cylinder motor is the same, they both come in either a two or four door body style, side by side the two cars are basically identical.
I guess this review is rather a buyer beware type of thing. It angered me greatly that once a price is quoted, the insurance company does not have to stick to that price. When shopping for a new car, the insurance costs can mean the difference between being able to afford the car, or not affording the car. All this is figured into your budget. So what are you supposed to do, when one of the budgeted items is way above what you had originally figured.?
My daughter was fortunate that we were able to find insurance that she could afford, after the fact. But how many people has this happened to that weren”t so lucky?
Also I am not saying that this is a problem specifically with Nationwide Insurance, I have a feeling this happens quite regularly with many insurance companies. But more of a warning, to perhaps have the local agent run your specific car through the main computers before accepting the quote. I am not even sure if that is possible, but if anyone can give any other suggestions that will help first time car insurance buyers, please feel free to comment.
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