Your opinions on Geico Car Insurance?
I have State Farm at the moment and thinking of going to Geico.
I have State Farm at the moment and thinking of going to Geico.
What do you think about Geico Car Insurance?
- Thread starter Mayfriday0529
- Start date
Right now they are quoting me almost $400 less every 6 months. I have a print out of it and going to my local State Farm office to see if they can match it.
Horrible company. If you get a quote from them they will not stop harassing you. Their quotes in my experience are slightly higher than Progressive. They also jacked up my rate $400 for not signing some form they mailed me, they said they legally had to get my signature. That was a lie apparently as when I switched to Progressive I was allowed to sign electronically.
I had the local agent known for the cheapest rates through mercury in LA (called AIS). Then I married my wife who had GEICO and got a quote from them and it was 20% cheaper.
Heh, I recently switched from Geico in favor of state farm. One thing we noticed about Geico was they seemed to be looking for reasons to raise our rates. We moved within the same city twice and our rates went up each time (only $2-$5 a month) When we moved again - out of the city to an area with significantly less auto breakins - they wanted to raise our rates again by over $20 a month. We got some quotes and went with State Farm for $38 a month less than Geico wanted to charge us
QueBert
Lifer
- Jan 6, 2002
- 22,889
- 1,090
- 126
as BoomerD said, locals have great great prices. But usually come with a trade off, mine is next to impossible to actually get someone on the phone. And if I got in an accident at night I couldn't because they're not 24/7. Also no road side assistance or any extras. But so far I haven't needed any of that, and Geico quoted me $112 a month and here I'm paying $47. The savings was worth losing the perks to me 
BoomerD
No Lifer
- Feb 26, 2006
- 65,627
- 14,020
- 146
We've been with a small independent company for many years. We save several hundred $$ every year on our cars and nearly $1000 on our home insurance. EXCELLENT customer service, OUTSTANDING claim service, low rates. So far, the ONLY problems we've had is getting them to apply the various credits for things like air bags and anti-lock brakes. We have to PROVE eligibility for every single discount. (even though a simple running of the VIN would tell them what features each vehicle is equipped with. :roll: They are good about applying the discounts retroactively though...and a couple of times, we end up with no monthly bills because of the accumulated discounts.
DainBramaged
Lifer
- Jun 19, 2003
- 23,454
- 41
- 91
Gibson486
Lifer
- Aug 9, 2000
- 18,378
- 2
- 0
FYI....most insurance companies do not "match" prices. They usually say walk if you want too....
BTW...you kind of get what you pay for...geico and prgressive are usually known to have better prices, but they lack in support. Liberty Mutual is usually has high prices, but they are usually kown to have top notch support. If you are familiar on what you do when you file a claim, then support should not be an issue.
I got a quote from state farm and now I get a letter in the mail from them every couple weeks. Desperate much?
They were the best I could find with $500 deductibles for a 25yo male with a 6 year old DUI. I switched over last month.
In most states, auto insurance companies cannot legally "match" rates. They have to give you the rate based on their filed demographic factors according to their filed rates, and tiers. There is a little bit of proprietary factoring in the model, but how else do you think that Progressive can give you "your competitor quotes" without that publicly filed information?
Working in this sector for one of the other companies (top 5 in size), Geico is better than Progressive. Geico is a solid company, but as with all insurance they will do things you don't like. From a consumer perspective they are fairly solid.
Geico and Progressive operate different than Allstate and State Farm. Geico/Progressive offer their "lower rates" (which aren't always lower, which is why it pays to shop around) by not offering as many "freebies" included with any policy among other things. So, if you don't need the "roadside assistance" or those "fringe benefits" then go with the cheapest insurance. Just make sure you don't skimp on coverage (un/under-insured motorist coverage or medical coverages for example).
Legally we require signatures for forms. If your company sends you a form saying "please fill this out, and mail it back to us completed in x days", you need to do it. As you found out, not sending the form back in can increase your rates. Hate to tell you, but that wasn't Geico's fault. It was your own fault, but being the consumer you can place the blame on them and go elsewhere (as you did). You say it was a lie they legally had to have you sign this document, but then go on to say Progressive had you sign the same thing just electronically. So, apparently legally the form is required, you just didn't want to have to sign it on paper.
Was it due to getting married? Getting married or turning 25 drops rates by about that much on average.
Be careful with small companies like that. When shit like Katrina hits the fan, they are the first to go bankrupt and you'll be asking the government to cover it for them. Just an FYI.
Exactly.
Currently USAA has the highest customer loyalty in the industry. Then way below them you get to State Farm, Allstate, Liberty Mutual, and the rest. I'll see if I can find the public link to the customer loyalty index that's used in the industry (IIRC it's a public company that does it).
Geico/Progressive insure the "riskier" customers compared with State Farm and Allstate for example. Progressive is having issues now primarily for this reason.
Geico and Progressive operate different than Allstate and State Farm. Geico/Progressive offer their "lower rates" (which aren't always lower, which is why it pays to shop around) by not offering as many "freebies" included with any policy among other things. So, if you don't need the "roadside assistance" or those "fringe benefits" then go with the cheapest insurance. Just make sure you don't skimp on coverage (un/under-insured motorist coverage or medical coverages for example).
Legally we require signatures for forms. If your company sends you a form saying "please fill this out, and mail it back to us completed in x days", you need to do it. As you found out, not sending the form back in can increase your rates. Hate to tell you, but that wasn't Geico's fault. It was your own fault, but being the consumer you can place the blame on them and go elsewhere (as you did). You say it was a lie they legally had to have you sign this document, but then go on to say Progressive had you sign the same thing just electronically.
So, apparently legally the form is required, you just didn't want to have to sign it on paper. Was it due to getting married? Getting married or turning 25 drops rates by about that much on average.
Be careful with small companies like that. When shit like Katrina hits the fan, they are the first to go bankrupt and you'll be asking the government to cover it for them. Just an FYI.
Exactly.
Currently USAA has the highest customer loyalty in the industry. Then way below them you get to State Farm, Allstate, Liberty Mutual, and the rest. I'll see if I can find the public link to the customer loyalty index that's used in the industry (IIRC it's a public company that does it).
Geico/Progressive insure the "riskier" customers compared with State Farm and Allstate for example. Progressive is having issues now primarily for this reason.
No insurance company looks to raise your premium if they can help it. The only reason that would happen is because their rates are just different for the areas you were moving around into, and not every company is going to rate every area for the same factors exactly the same.
Insurance is a takeaway business, and people shop. Nobody tries to jack your rates hoping you won't notice and just pay it.
I spent a good amount of time in the insurance industry, and I can tell you the above with certainty. But for the same reason that the person on the phone/internet app quotes you a higher rate when you move is the same reason that they also can't bargain for rates with you over the phone. It's illegal, they have to stick to their rate filings, with little exception.
I have Geico and they're the lowest rate I've found for our particular situation - I've never had an accident, and my 19-yr-old drives to work and to school. Progresso had good rates for my son, but Geico has an extra tier of discount for people with no accidents for 10 years or something.
They do bump the rates up every chance they can get, so you have to do a lot of research and keep on top of them with their tweaking. Things like good student discount, air bags, all the discounts - you have to keep applying for them. And they sneakily change the coverage so that the rates go up - keep an eye on it. But most companies do this stuff too.
oops - Progresso is a food company, Progressive is the insurance co.
They do bump the rates up every chance they can get, so you have to do a lot of research and keep on top of them with their tweaking. Things like good student discount, air bags, all the discounts - you have to keep applying for them. And they sneakily change the coverage so that the rates go up - keep an eye on it. But most companies do this stuff too.
oops - Progresso is a food company, Progressive is the insurance co.
had a minor accident (my car slid off road, no others involved) and they handled it quickly. i was very impressed. their rates have been creeping up lately, might shop around a bit soon. they need to stop running commercials and save me some dollars instead.
DV's post was spot-on. There is little else that can be said on the topic. It's going to come down to people "liking" the company that quotes them lower, and "disliking" the one that costs more. A bad claims experience will do the same. But there are bad claims experiences to be had anywhere.
Whoever said GEICO wasn't 24/7 is also mistaken. I am insured with them, and they definitely have 24 hour service. I've had to call late before.
Whoever said GEICO wasn't 24/7 is also mistaken. I am insured with them, and they definitely have 24 hour service. I've had to call late before.
It's the "moment of truth" so to speak. It's the time when customers expect something for all the $ they have paid, and to be treated fairly.
If a insured has a bad claim experience, they are much more likely to switch insurance companies. They also are more likely to tell others about it, and we get told that it takes 10 customers with good experiences to make up for one negative one.
Correct.
We have rules and rates that we file with each states Dept of Insurance as to how we rate customers. They say "if a customer has x, we add y to the base premium", and then thats thrown in an algorithm that you put information into and gives you the quote.
What Progressive does is basically "guess" what the other companies would charge. Granted they aren't usually way out of the ballpark, it's still just a guess.
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