If you’re a credit union customer, you may get a solicitation in the mail saying that you’re paying too much for car insurance and can get a better rate through the TruStage Auto & Home Insurance Program.
But can you really save with TruStage? We got quotes from them and some competitors to find out…
TruStage: How their quote stacks up against the competition
Many credit unions partner with third-party industry organizations like CU Solutions Group and its LoveMyCreditUnion.org portal to offer their members discounts on cell service, tax prep, home security monitoring and any of a variety of other services.
One part of this affinity program for credit union members is a potential discount on car insurance through TruStage.
Recently, I got the following letter in the mail pitching me on how TruStage could save me up to $509 on car insurance:
I wanted to find out if it was true. The only way to know that was to get a quote from TruStage and several other car insurance players. Since they name-checked State Farm, Allstate and GEICO in the letter, I decided to go with those options.
I obtained quotes from each player online, except for TruStage, for which I used the 800 line and my personal invitation number on the letter.
The quotes you’ll see below were obtained for:
- A 43-year-old man, widowed
- Driving a 2007 Hyundai Sonata
- Commuting four days a week to/from work and school
- A daily one-way commute of 30 miles
- 15,000 annual miles
- Employed full-time
- Master’s degree
- One speeding ticket in the past 12 months (less than 14 miles per hour over the speed limit)
A couple of notes before we get into the quotes from TruStage and the others: Even though you can typically save by bundling both your home and auto policy with the same insurer, I specifically declined this option. I felt it was the most honest way to assess the claim TruStage made in its letter, which honed in specifically on auto insurance.
Another caveat: You may see minor differences in the level of coverage from quote to quote. That’s because the insurer’s website defaulted me into preset amounts during the application process. I left these minor variances intact to reflect exactly how the quotes came to me.
So without further ado, here are the quotes:
$694.30 for a six-month policy
$712.94 for a six-month policy
$852 for a six-month policy
($742 if paid in full)
$633 for a six-month policy
($1,266 for a 12-month policy)
Analysis of quotes
Well, there you have it. TruStage was indeed cheaper than three other competitors and beat the next nearest company (GEICO) by $61.
Membership in a credit union really does have its benefits!
One final thought: The quotes above all included comprehensive and collision coverage with a $500 deductible. Because of the age of my vehicle, I’m going to drop comp and collision at the time of my next renewal, which is coming up in a few months. That will save me several hundred dollars by itself.
Money expert Clark Howard has a rule of thumb when it comes to when you should drop comp and collision.