Insurance Costs - Avoid Geico
09-22-2018, 09:19 AM
#21
Don't move to SC! I used to live in Charlotte, NC moved to SC, Hartford went up $600 a year (for 3 vehicles each has full coverage).
Last edited by mikeam; 09-22-2018 at 09:22 AM.
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CorvetteBrent (09-24-2018)
09-22-2018, 09:48 AM
#22
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No accidents, no ticket violations. In the past 18 years the only claim I had was a windshield chip of $60. This year I turned age 65 so that was one excuse for the increase based on their statistical data base. Living in SW Florida my zip code was near a hurricane last year, another excuse for Geico's increase. In spite of their ads I got a competitor quote and saved over 20% in fifteen minutes. Aloha to them! (policy includes my 2002 vert and 2017 Ram 1500 Hemi)
I do make it a practice to shop my Insurance every year and also make sure they know I will.
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CorvetteBrent (09-24-2018)
09-22-2018, 10:18 AM
#23
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I tell people all the time, it's not really about the name of the company, it's more about the office you are working with directly.
In 28 years and probably near a half million miles of driving, I've had 6 or so tickets and my insurance has never gone up because of it.
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CorvetteBrent (09-24-2018)
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CorvetteBrent (09-24-2018)
09-22-2018, 05:27 PM
#25
Le Mans Master
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CorvetteBrent (09-24-2018)
09-23-2018, 08:28 PM
#28
Hagerty for 30 years with different cars . I would never use another company for my performance cars . Made a few claims that were handled fairly and quickly . And they have a cool magazine .
09-23-2018, 10:35 PM
#29
You guys getting in a lot of accidents or getting a lot of tickets? My rates have never fluctuated more than 10 bucks a year. Nothing that made me even raise a brow.
i have Geico and my rates have only hiked once and that was after I backed my wife’s car into a pole. Woops.
i have Geico and my rates have only hiked once and that was after I backed my wife’s car into a pole. Woops.
Last edited by MikeG37; 09-23-2018 at 10:45 PM.
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CorvetteBrent (09-24-2018)
09-24-2018, 06:36 AM
#30
Burning Brakes
Insurance rates like many consumer products, increase their price because of a sh*t full or reasons. Personally, I have insurance cost increased almost each year and so far I have determined they are reasonable based on the market, inflation, and the cars I own. The insurance companies are in the business to make money, not lose it for their shareholders just like all other public owned companies.
09-24-2018, 06:40 AM
#31
Burning Brakes
For many of my younger years I was in "Good Hands with Allstate" and was satisfied with their price and service. Prices on both my car and homeowners insurance continued to rise at a modest pace. About the time I turned 50 and joined AARP I found their Hartford Insurance had good coverage for a lot less money so I switched. Fast forward ten years and AARP rates got excessive and Geico did a lot better for me. After a few years with Geico even their rates got stupid in spite of all their TV ads. I think my premium had a big increase just to fund their ad campaign. Earlier this week I contacted AARP for a car insurance quote and was pleasantly surprised.
AARP/Hartford offered better coverage for $584 less/year. Geico only does six month policies so they can jack you up twice a year and they usually do. I got the expected nonsense story as follows:
"This rate change is a result of a statewide increase and is not specific to you or your policy. Due to rising claims costs, this rate increase was necessary to ensure funds are always available to pay for the liability, injuries, and vehicle repairs of our policyholders.
If you feel like you've heard this explanation before, it's because you likely have. We have had to file for similar increases over the past few years for the same reason. But, much like the majority of goods and services lately, costs continue to climb, and all insurance companies must react accordingly. While tenured policyholders cannot be exempted from these statewide increases, we always work diligently to reduce the impact on you as much as possible."
Then they offered me a reduction in rate of $12.80 for six months. I thought they were joking so I fired them and gave them the feedback they deserve. If you are a Geico customer do yourself a favor and get another quote at renewal time or continue to pay for all their annoying FALSE TV ads and big profits. Maybe I'll use the $584. I saved on MODS? (or NOT)
AARP/Hartford offered better coverage for $584 less/year. Geico only does six month policies so they can jack you up twice a year and they usually do. I got the expected nonsense story as follows:
"This rate change is a result of a statewide increase and is not specific to you or your policy. Due to rising claims costs, this rate increase was necessary to ensure funds are always available to pay for the liability, injuries, and vehicle repairs of our policyholders.
If you feel like you've heard this explanation before, it's because you likely have. We have had to file for similar increases over the past few years for the same reason. But, much like the majority of goods and services lately, costs continue to climb, and all insurance companies must react accordingly. While tenured policyholders cannot be exempted from these statewide increases, we always work diligently to reduce the impact on you as much as possible."
Then they offered me a reduction in rate of $12.80 for six months. I thought they were joking so I fired them and gave them the feedback they deserve. If you are a Geico customer do yourself a favor and get another quote at renewal time or continue to pay for all their annoying FALSE TV ads and big profits. Maybe I'll use the $584. I saved on MODS? (or NOT)
09-24-2018, 08:20 AM
#32
If you are active, retired or former military you may want to check with USAA. Their rates are not always the lowest, but they are very competitive and their service is excellent. They are always rated either #1 or #2 on customer satisfaction surveys.
(I believe you are also now eligible if you were not military but have an immediate family member who is or was in the military. Might be worth checking).
(I believe you are also now eligible if you were not military but have an immediate family member who is or was in the military. Might be worth checking).
09-24-2018, 08:25 AM
#33
09-25-2018, 05:19 PM
#35
Racer
It's called "Price Optimization". They slowly/periodically raise rates to determine the level their customers will bear before leaving. This maximizes their profits.
https://www.npr.org/2015/05/08/40359...r-can-cost-you
Being a loyal customer doesn't pay anymore.
https://www.npr.org/2015/05/08/40359...r-can-cost-you
Being a loyal customer doesn't pay anymore.
09-25-2018, 06:46 PM
#37
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Another insurance thread but, I'm not complaining. If there's one common denominator we all share, it's handing over money grudgingly to your carrier. I spent years at USAA dating back to the late '80's, and hands down, no one could come close to the rates they offered. When rival companies called vying for your business and you told them you were with USAA, the conversation ended pretty quick. I left USAA a few years ago, and don't miss it a bit. They jacked up their rates to the point where it's laughable to say they are even competitive anymore. If you shook hands with a service member, you could get probably get insurance with them. As soon as they relaxed their standards and let everyone in, so went the quality of the driver's they insured. I've been with State Farm for a few years now and (knock on wood) have not gotten a shock from rate hikes, like I saw with USAA. 2 Corvettes, S10 ZR-2 , and a Nissan Maxima, and I pay less than $500 for 6 months. Of course being 50, with a lily-white driving record helps to.
USAA- is Ok, not great but, Ok....If your looking for a car loan or credit card with USAA, their rates on those are definitely good
State Farm- I find their customer service and rates to be very competitive. Probably not the best company out there but, YMMV.
Geico-They sure advertise like crazy, and honestly I can't remember any policy holder ever saying anything good/great about them. Someone must like them for something?
Just my .02
USAA- is Ok, not great but, Ok....If your looking for a car loan or credit card with USAA, their rates on those are definitely good
State Farm- I find their customer service and rates to be very competitive. Probably not the best company out there but, YMMV.
Geico-They sure advertise like crazy, and honestly I can't remember any policy holder ever saying anything good/great about them. Someone must like them for something?
Just my .02
09-25-2018, 08:28 PM
#38
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Another insurance thread but, I'm not complaining. If there's one common denominator we all share, it's handing over money grudgingly to your carrier. I spent years at USAA dating back to the late '80's, and hands down, no one could come close to the rates they offered. When rival companies called vying for your business and you told them you were with USAA, the conversation ended pretty quick. I left USAA a few years ago, and don't miss it a bit. They jacked up their rates to the point where it's laughable to say they are even competitive anymore. If you shook hands with a service member, you could get probably get insurance with them. As soon as they relaxed their standards and let everyone in, so went the quality of the driver's they insured. I've been with State Farm for a few years now and (knock on wood) have not gotten a shock from rate hikes, like I saw with USAA. 2 Corvettes, S10 ZR-2 , and a Nissan Maxima, and I pay less than $500 for 6 months. Of course being 50, with a lily-white driving record helps to.
USAA- is Ok, not great but, Ok....If your looking for a car loan or credit card with USAA, their rates on those are definitely good
State Farm- I find their customer service and rates to be very competitive. Probably not the best company out there but, YMMV.
Geico-They sure advertise like crazy, and honestly I can't remember any policy holder ever saying anything good/great about them. Someone must like them for something?
Just my .02
USAA- is Ok, not great but, Ok....If your looking for a car loan or credit card with USAA, their rates on those are definitely good
State Farm- I find their customer service and rates to be very competitive. Probably not the best company out there but, YMMV.
Geico-They sure advertise like crazy, and honestly I can't remember any policy holder ever saying anything good/great about them. Someone must like them for something?
Just my .02
09-25-2018, 08:40 PM
#39
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Glad to hear that, I was wondering where the good reviews were. That's odd about the Vette though. Is it something within Geico that doesn't like insuring Corvettes? Out of all my vehicles I own, the Vettes are the cheapest to insure. Something State Farm indicated to me that they are built safer than a lot of other cars. I'm guessing that plays a big part why the premium is cheaper. Just relaying info that I found out today, as I paid the 6-month renewal fee earlier this afternoon.
09-25-2018, 09:04 PM
#40
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State Farm wasn't in the ballpark in prices. They also will not pay for agreed value.
Ripped my cousin off big when his car was totaled.
Ripped my cousin off big when his car was totaled.