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  #1  
Old 05-19-2020, 11:36 PM
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Default Motor people, do you buy your motor insurance from your employer?

Do you?
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Old 05-19-2020, 11:58 PM
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I did briefly, then I stopped. I'm probably going to keep it that way. Would be kinda weird if a claim ever got a bit adversarial.
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Old 05-20-2020, 12:01 AM
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I could take the easy way out of answering the question by observing that my employer is not licensed to do personal auto business in the state where my car is garaged/registered.

But...even though employee discounts can be very attractive, consider the challenges that could arise if you have to file a "difficult claim"...and things go badly. Lots of potential conflicts of interest, particularly if you are in a role that requires you to mine data from open claims and if your employer doesn't have the necessary safeguards in place. Been there; done that. 0 stars. Would not recommend.

It's a potential low-frequency/high-severity risk. Whether it's worth it for a given employee is a matter of personal risk preference...but generally I like to minimize the amount of business/investment I do with/in my employer, in the interest of risk diversification.
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Old 05-20-2020, 12:05 AM
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I had coverage from my employer long before I became an employee.
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Old 05-20-2020, 08:50 AM
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...But...even though employee discounts can be very attractive, consider the challenges that could arise if you have to file a "difficult claim"...and things go badly. Lots of potential conflicts of interest, particularly if you are in a role that requires you to mine data from open claims and if your employer doesn't have the necessary safeguards in place...
Yeah, around when I was hired there was an actuarial analyst who submitted a claim that the company thought was fraudulent. I dunno, maybe it was. But I don't want to risk my job just because I get into a fight with my insurance company.
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Old 05-20-2020, 11:16 AM
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I don't work in P&C, but my employer sells P&C in addition to life products.

Even with an employee discount, USAA is far cheaper for us. So no.
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Old 05-20-2020, 12:36 PM
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I did briefly, then I stopped. I'm probably going to keep it that way. Would be kinda weird if a claim ever got a bit adversarial.
Yeah like what happens if you get into an accident with a coworker, would the company be able to sue itself, like twice?
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Old 05-20-2020, 01:49 PM
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Originally Posted by Maphisto's Sidekick View Post
I could take the easy way out of answering the question by observing that my employer is not licensed to do personal auto business in the state where my car is garaged/registered.

But...even though employee discounts can be very attractive, consider the challenges that could arise if you have to file a "difficult claim"...and things go badly. Lots of potential conflicts of interest, particularly if you are in a role that requires you to mine data from open claims and if your employer doesn't have the necessary safeguards in place. Been there; done that. 0 stars. Would not recommend.

It's a potential low-frequency/high-severity risk. Whether it's worth it for a given employee is a matter of personal risk preference...but generally I like to minimize the amount of business/investment I do with/in my employer, in the interest of risk diversification.
This. I've been there as well but not with an auto policy. I would also rate 0 stars... not even close to worth the $100 or so I saved annually.
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Old 05-20-2020, 01:52 PM
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Originally Posted by Colonel Smoothie View Post
Yeah like what happens if you get into an accident with a coworker, would the company be able to sue itself, like twice?
This isn't any different that two non-employees having coverage from the same insurer. Which happens more often than one might suspect, I imagine.

And to be clear, the "law suit" in any accident isn't against the insurer. It's against the driver and/or owner of the vehicle. So all the insurer needs to do is ensure that the legal representatives for each party have no conflicts of interest (most likely, the insurer is using "outside" counsel for each party from two different firms).
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Old 05-20-2020, 01:59 PM
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way back when I worked pp auto and homeowners, the experience of the employee population was significantly worse than company wide. If I remember correctly, they ended the discount. but that was 20 years ago...so my memory may be fuzzy.

Also, I am old. carry on.
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