Geico auto insurance? UPDATE in #1

[Susan in TN]

Anyone have this? Comments? Other options?

Our insurance is going up to $3000 per year for our two vehicles and 3 drivers (one teen driver). Next summer we will have to add another teen driver which will add who knows how much more. Dh believes we can get our yearly premium down to around $1800 for all 4 drivers with Geico.

 

UPDATE:

Dh talked to a Geico rep for a firm quote and called our insurance agent to ask them to see what they can do to bring down their price.  Turns out our agent was able to get a price $50 cheaper than the Geico quote with all the same variables.  I am glad because I do like our agent (though I wish we didn't have to go through this rigamarole), and our insurance will be $900 less per year than originally stated. 

[SKL]

I have Geico, and have for some years.  It was a substantial saving for me.  For just myself, my premium has always been roughly $300 per half.  I have only had one claim that I can recall - I hit a mailbox.  As far as I know, it was handled reasonably.

 

One thing that happened when I switched, though.  There was a fine charged by my old insurance for dropping them before the end of my 6-month coverage period.  They also said, "why didn't you ask us to re-quote you to keep your business?"  So I would recommend that you contact your current insurance and find out what happens if you give them notice of dropping them.  You could probably avoid the fine if you timed things better than I did.

[VeganCupcake]

We've had Geico for several years and are happy with it. We found them to be a better price than anyone around, and our claims (we've had two in the 10 or so years we've had it) have been handled really well.

 

We have two vehicles and two drivers, and our premiums are about $600 for 6 months. One of our vehicles is a late model mini van, so it's more expensive to insure than our older commuter car.

[Ellie]

One cousin-in-law has had Geico for years and says it's great...although I'm not sure she's ever made a claim.

 

The other cousin-in-law (they are each married to one of my first cousins) works for Geico...and says she will never be insured by Geico.

 

Right now it's only Mr. Ellie and me, but we changed from Allstate to AAA (for both home and vehicles) and saved almost $1000 per year. I did not compare it to Geico, however, because of my cousin's comments.

[TheReader]

Ellie, I'd be curious why your cousin-in-law feels that way. 

 

We've had Geico for decades, even maintaining storage coverage on our vehicle in the US these past six years. We have had numerous claims we've had to file over the years, and we've been happy with how they've handled each one. We've had minor accidents (our fault, not our fault, both), a vehicle got stolen (it was still very new, and Geico gave full new value of the car/paid off the loan with some left over to use towards replacing the car); windshield claims; even once in the US, our rental car got vandalized. Since we had called when we arrived and activated our insurance as "in town" that was taken care of as well (I think it was less than our deductible to pay the rental company, so we did that, but had it exceeded, they would have handled the claim; we called and spoke with them prior to deciding and it would have been covered). 

 

Anyway, we are quite happy with them. I can't speak to what our rate is, since we're right now in a storage option, but it's always been very reasonable for us. 

[ThisIsTheDay]

Ellie, I'd be curious why your cousin-in-law feels that way. 

 

 

I've had GEICO for two separate periods over the last 20 years and have been happy.  I used to get quotes every year, now I just look every couple of years.  I'm happy with GEICO, but I've never had to file a claim.  That's when you really find out whether you have a good company or not.

 

I've worked for a medium sized law firm representing another major insurance company.  It was common knowledge in the office that the staff avoid that company. (As they were our biggest client, however, it was strongly recommended that the attorneys use that company).  They were that bad, in that state, at that time.

 

It really comes down to claims, how they are handled, and even more importantly, imo, how medical claims are handled.  Being truly hurt in an accident is stressful enough without having to fight battles with the very people (company)  you've been counting on to help.

 

[milovany]

We had Geico for awhile and had no problems.  We switched to Allstate for a time and then the rates went up so much, and it was time to add our first teen driver, that we wanted to see what else was out there.  I checked out both Geico and Progressive and we went with Progressive.  I asked a Geico vs. Progressive question here at WTM and Progressive won out.  When we added the (male) teen driver, it was only $50/mo. more.  We recently added a female teen driver and it only went up $40/mo. more.  We have everything with Progressive now. 

[Carrie12345]

We've had it for a few years. Around $1600 for 2 adults, 2 paid-for vehicles, no accidents, no moving violations, in PA. I don't know how that translates to other situations.

[Pamela H in Texas]

We've had Geico for many years.  A big selling point was that a kid didn't count against our rate when they had learning permits.

Anyway, we had two claims last year.  One was an act of nature and the other my fault <sigh>.  Both claims were easy enough.  

[milovany]

We've had Geico for many years.  A big selling point was that a kid didn't count against our rate when they had learning permits.

 

This is true with other insurance companies as well.  It has been the case with Progressive anyway. 

[Ellie]

Ellie, I'd be curious why your cousin-in-law feels that way. 

 

We've had Geico for decades, even maintaining storage coverage on our vehicle in the US these past six years. We have had numerous claims we've had to file over the years, and we've been happy with how they've handled each one. We've had minor accidents (our fault, not our fault, both), a vehicle got stolen (it was still very new, and Geico gave full new value of the car/paid off the loan with some left over to use towards replacing the car); windshield claims; even once in the US, our rental car got vandalized. Since we had called when we arrived and activated our insurance as "in town" that was taken care of as well (I think it was less than our deductible to pay the rental company, so we did that, but had it exceeded, they would have handled the claim; we called and spoke with them prior to deciding and it would have been covered). 

 

Anyway, we are quite happy with them. I can't speak to what our rate is, since we're right now in a storage option, but it's always been very reasonable for us. 

 

She didn't go into any details. She's the person on the other line when you call to ask questions and whatnot, and she's been working long for them enough that she's able to retire. Next time I talk with her, I'll ask. :-)

 

Sounds as if you have had a great Geico relationship. :-)

[kewb]

We have had Geico for years.  We even had a couple of claims.  They were easy to work with.  We have never had any issues.

[Lady Florida.]

A big selling point was that a kid didn't count against our rate when they had learning permits.

 

 

This is true with other insurance companies as well.  It has been the case with Progressive anyway.

 

It's true for us with State Farm too.

 

I checked both Geico and Progressive a while back and found that switching wouldn't save us a significant amount. I like that State Farm uses original manufacturer parts when paying for a vehicle repair. Most companies don't. When we were rear-ended last November, our van's back door was replaced with an actual Toyota door, not an aftermarket one.

[Susan in TN]

Wow - thanks, everyone!

 

Right now we go through an independent agent who has done all our insurance for many years and we've been very happy with them.  We hate to leave, but honestly, if what they are offering is the best they can do, we just have to find something cheaper.

 

We will also check out AAA, Progressive, and others - always best to look at all the options.  Our current agent is also checking on rates, but it doesn't sound hopeful.

[QueenCat]

We've had Geico for many years.  A big selling point was that a kid didn't count against our rate when they had learning permits.

 

 

Liberty Mutual does not charge when a child has their learner's permit. Only when they get their actual license.

[Journey]

First of all most companies do not charge for a person with a learner's permit.  Secondly this is generally how auto insurance works with new drivers....say for instance you have 2 cars and 4 drivers....the company will put the two most experienced drivers on each car and then rate the two inexperienced drivers as occasional drivers, thus creating a lesser premium.  The expense comes in when you have say....4 cars and 4 drivers...each driver, whether they are experienced or not, have to be rated as a primary driver on each car thus driving the rate up, especially with the inexperienced driver surcharge that most companies add on.  I sell insurance for a large company and geico is one of our competitors.  We can never beat their rates 99% of the time.  I don't know how they keep their rates so low but i have heard that they have terrible customer service and i've also heard first hand that when they do finally end up raising rates they jack the prices to at least double.  I would love to go to them to save money but i just don't trust them.  I'm not even insured by the company i work for!  Also, no company will charge for an accident that is an act of God, that's what comp is for.  The charges start when the collision portion of your insurance is utilized.

[Barb_]

My husband was in an at-fault accident (ran a stop sign while visiting San Francisco).  I got a ticket at a speed camera for 11 miles over.  They didn't raise our insurance for either incident because they have a forgiveness policy for I believe three years.  Our premiums have gone up incrementally but we are only paying maybe 200 more a year than we were when the policies were first written when we moved to this state 7 years ago.

[Susann]

We've had Geico for 20-25 years and they're excellent. We've have 3 or 4 claims over that period and have transferred approximately 15 times between cities/states. Very easy to work with. Something we discovered when oldest DD went off to college was that, because her school was over 100 miles from home and she wasn't taking a car and would only be home for weekends/holidays to drive, we didn't have to pay for her on the policy but she was still covered when she was home and drove. Hope that makes sense! We regularily check cost with other agencies. I highly recommend them!

[Tammi K]

We've had GEICO since back when it was only open to gov. employees.  We've had excellent service all through the years. They have covered claims fairly. Their employees have been responsive to requests, calls, etc. And, our rates have always been lower than we could get elsewhere - we compare every time we move and we've never found more favorable rates.

 

I don't want to sound like a commercial but we've used GEICO in 4 different states and we've never had a bit of trouble.

 

Edit: I noticed several people commenting on their company not raising rates for drivers with learner's permit. Geico doesn't either. We've had 4 of our six kids get their licenses while we were Geico customers. We're familiar with the process. :crying:    Also, Geico has 'away at school - not driving the car right now' rates.

[Amy in NH]

I looked into it.  Their prices are lower because their coverage is too.

[TheReader]

I looked into it.  Their prices are lower because their coverage is too.

 

Can you expound on this? When we compared rates, we always make sure we are comparing apples to apples, as in same amount of coverage, same deductible, same limits, etc. They certainly offer whatever range of coverage you want/need. 

[MomtoCandJ]

We use liberty mutual, they were the cheapest for Us. We pay 142/month for full coverage on Dh's truck and comp on my car along with roadside assistance (the roadside is $12/year for both vehicles). We also live in Michigan (land of no fault and lifetime medical coverage).

[Stratford]

We've had Geico for ages and have never had a problem with them.  We had one big claim (totaled vehicle) and one small and both were handled quickly and easily.  

[Amy in NH]

Can you expound on this? When we compared rates, we always make sure we are comparing apples to apples, as in same amount of coverage, same deductible, same limits, etc. They certainly offer whatever range of coverage you want/need. 

 

DH had Geico when we first consolidated households 15 years ago.  I had a standard auto insurance policy through State Farm, which I had had for 15 years with no accidents or moving violations.  When I investigated consolidating the two plans, I was surprised to find that his coverage was much lower than mine.  I compared the rates of both companies with the better level of coverage that I had, and Geico cost about the same as State Farm.  The reason their rate was lower was because their coverage was lower.  I checked what a "normal" amount of coverage is supposed to be and found that Geico had been underinsuring him.

 

We have Progressive now.

[MomtoCandJ]

Just curious... What bodily injury coverage do you have?

 

I thought my insurance was amazingly low, but this beats it!

25000/50000 for each. We have 500 deductible. We also have a discount through our credit union.

[Ravin]

Is either of you active or retired military or a veteran? Because USAA is better, hands down.

[MomtoCandJ]

Ah ok. We have 100,000/300,000 and a 500 deductible. Ours is $359 per 6 months (2 cars).

Ours is each month... I think Michigan has one of the highest insurance rates in the nation

[Amy in NH]

Is either of you active or retired military or a veteran? Because USAA is better, hands down.

 

Not sure what their auto insurance is like, but I personally know two people who have had USAA homeowners' insurance refuse to pay out on house fires that were both total losses. 

 

[Big Buckin' Longhorn]

I've had Geico for years . . . since it used to be Military only insurance when I was a military dependent.  Now as an adult I have my own policy.  When I first learned to drive, I spent the first 5 years or so crashing into anything and everything on the road, on sidewalks, in driveways, etc . . . they never cancelled me - but did raise my rates considerably, LOL. 

 

Anyway I've had plenty of claims and they've always been professional, courteous, and quick with me.  Also, I'm not sure I understand about having less coverage, when I do an insurance quote I make sure to get the exact coverage limits that I need and compare apples to apples rates that way. 

 

I don't use an agent.

[Journey]

25/50 is terrible coverage.  We don't even offer that to our customers.  you shouldn't really go any lower than 100/300 and the increase is literally pennys.  Again, another reason why geico's rates are lower, because the coverage is lower. 

[Big Buckin' Longhorn]

25/50 is terrible coverage. We don't even offer that to our customers. you shouldn't really go any lower than 100/300 and the increase is literally pennys. Again, another reason why geico's rates are lower, because the coverage is lower.

I don't understand. If one doesn't want 25/50 they shouldn't get that. Geico doesn't make you get 25/50. I have way more coverage than that.

[Susan in TN]

25/50 is terrible coverage. We don't even offer that to our customers. you shouldn't really go any lower than 100/300 and the increase is literally pennys. Again, another reason why geico's rates are lower, because the coverage is lower.

For the record, I believe the person with the 25/50 coverage has Liberty Mutual, not Geico.

 

I know there are many factors that go into a company's rates...no real need to get defensive. We are all able to make decisions that best fit the needs of our families.

[MomtoCandJ]

We have that because that's what we can afford, Michigan's insurance rates are sky high. We pay more because we don't have health insurance right now (well I have Medicaid for the pregnancy but they don't count that). I'll let some one more knowledgeable explain that whole mess.

[Tree Frog]

Not sure what their auto insurance is like, but I personally know two people who have had USAA homeowners' insurance refuse to pay out on house fires that were both total losses. 

 

 

We also have USAA and it's been good to us. However, our realtor and her husband had their insurance canceled due to someone else driving their car (with their permission) and having an accident. When his father, a longtime USAA member, requested someone look at the cancellation, his insurance was also cancelled. We have sometimes lent out our vehicle to unrelated persons, but USAA has always told us it's the vehicle that's insured, not the once in a while driver, so I'm not sure why they cancelled.

 

My husband's brother is a doctor. A few months ago, someone drove into their waiting room, causing significant damage. USAA cancelled their insurance, saying the waiting room had too much liability to continuing insuring. They also refused to go after the driver of the vehicle who caused all the damage. The driver had USAA insurance.

 

We've been USAA members for over 20 years and up until about 3-4 years ago, we never heard anything bad about them. Now, it seems like every other person I talk to about the company has been dropped by them for one reason or another or has had a bad experience, so I don't recommend them anymore without a caveat.