Help switching Insurance - anyone use Geico??

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Beerwolf
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Help switching Insurance - anyone use Geico??

Post by Beerwolf »

After 20 years with Allstate, and constant increases, I'm looking at Geico and Ameriprise. Does anyone have opinions or experience with using internet insurance companies?
Of course my agent tells me it will be a calamity using an internet insurer.
For car (6 month), house and umbrella (1 year), I'm looking at around $1080 for internet folks, $1240 for Allstate and State Farm.
Grateful for any help,
Beerwolf
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roymeo
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Re: Help switching Insurance - anyone use Geico??

Post by roymeo »

I've used GEICO for many years for auto insurance (and partnered renter's insurance), with a brief jump to esurance when it was cheaper. I haven't had any problems with claims, though not many claims. I suppose the dorky newsletter they send out uses different stock images, but I really haven't noticed. I'm not sure how often I'd expect the local State Farm agent to come out and personally wash my car, but it must be pretty often for the difference in rates. Or maybe a yearly awkward telephone call where they act chummy by reading topics to mention from their notes is what that money is for?


(Actually that awkward phone call was from my, unused as yet, mortgage broker.)
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lindisfarne
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Re: Help switching Insurance - anyone use Geico??

Post by lindisfarne »

Do a search for Geico on this site; there have been a number of mentions in various threads just in the last month. I use Geico for auto & home. Other than emergency road service or glass (which word just fine; emergency road service can be a bit slow at rush hour but that's not surprising), I've never had a claim. With home owner insurance through Geico, the agents don't seem really informed & there doesn't seem much room to add/modify coverage (this might vary depending on which options are available through Geico in your area). Thus, if you want more personalized interaction with your home owners insurance, going through Geico might not be your best option. With auto, I like the fact I can go in online and select various coverage options & see how the price on each changes. For me, Geico gives me very good rates, but it all depends on your driving & credit record: they want the drivers who are statistically less likely to have claims, and rates for those drivers are very competitive, often beating all other companies.
Last edited by lindisfarne on Wed Sep 04, 2013 6:40 pm, edited 1 time in total.
yosh99
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Re: Help switching Insurance - anyone use Geico??

Post by yosh99 »

After a disastrous experience with State Farm, we looked at both Progressive and Geico. Progressive was much cheaper and we went with them. After 10 years with Progressive, we've had nothing but excellent service.
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Toons
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Re: Help switching Insurance - anyone use Geico??

Post by Toons »

State Farm for over 12 years ,switched to Geico about 5 years ago,auto ,home,umbrella,State Farm could not come close to matching Geico premiums,excellent service,no complaints.Go for it.
Not affiliated with Geico :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Anon1234
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Re: Help switching Insurance - anyone use Geico??

Post by Anon1234 »

I've used Geico for 10+ years. No issues for me.

I have 2 family members hit, while parked, by Geico insureds. Geico has an annoying habit of denying their insureds coverage if the insured does not call them to inform them of the collision. In both cases below the Geico insured exchanged insurance information with the not-at-fault party, yet Geico denies coverage to not-at-fault party if their insured does not call them.

Experience 1: Geico has denied rental coverage to my sister-in-law until their insured called. Result 5 days without car. That was resolved by my mother-in-law hunting Geico insured down and shaming him into calling Geico.

Experience 2: Geico currently denying repair cost for a parking lot fender bender due to insured not calling them (my brother,as bystander, observed his car being hit in parking lot).
Grt2bOutdoors
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Re: Help switching Insurance - anyone use Geico??

Post by Grt2bOutdoors »

Used to have State Farm for auto, switched to Geico about 13 years ago, haven't looked back. Not only are premiums less, service is good and when I was involved in a no-fault accident, they honored the terms of the policy and paid for the repairs on my car - with OEM parts, none of this we'll patch it with a part from here and a part from there. Even the adjuster told me to fix the car and not total it. Also have them for umbrella - good service, haven't had to claim on it yet (knock on wood), good pricing.
I have State Farm for home, never made a claim - and lately, I'm starting to get tired of these constant insurance premiums increasing at rates far above inflation and market returns. It's the same song and dance from the agent - low fixed income market rates, low market returns, increased claims, yada yada. My premium has increased about 100% over a 6 year period - that tells me two things: 1) it was artificially priced or under priced at time of original underwriting - they were taking market share by mispricing their revenues as a loss leader and miscalculating their underwriting risk :oops: and 2) they still don't know how to match liabilities correctly. But they do know how to do what they do best - jack premiums up.
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Grt2bOutdoors
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Re: Help switching Insurance - anyone use Geico??

Post by Grt2bOutdoors »

Anon1234 wrote:I've used Geico for 10+ years. No issues for me.

I have 2 family members hit, while parked, by Geico insureds. Geico has an annoying habit of denying their insureds coverage if the insured does not call them to inform them of the collision. In both cases below the Geico insured exchanged insurance information with the not-at-fault party, yet Geico denies coverage to not-at-fault party if their insured does not call them.

Experience 1: Geico has denied rental coverage to my sister-in-law until their insured called. Result 5 days without car. That was resolved by my mother-in-law hunting Geico insured down and shaming him into calling Geico.

Experience 2: Geico currently denying repair cost for a parking lot fender bender due to insured not calling them (my brother,as bystander, observed his car being hit in parking lot).
Can't blame Geico in either case, would you give money to an anonymous person just because they said your brother Joe called and he said it was okay to give it to them? You'd want to verify the story first, right? The insured didn't want to call, because they didn't want their records to be marked as having been involved in an accident and they don't want their premium costs to go up.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
lindisfarne
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Re: Help switching Insurance - anyone use Geico??

Post by lindisfarne »

Anon1234 wrote:Experience 2: Geico currently denying repair cost for a parking lot fender bender due to insured not calling them (my brother,as bystander, observed his car being hit in parking lot).
As a word of advice: states have laws that state if damage is beyond a certain $ amount, police must be called. Many "fender-benders" these days can be quite expensive. Someone drove into my sister's back bumper (sister driving a Toyota hybrid SUV (can't remember the name)) at a fairly low speed. Just looking at bumper, it didn't seem too bad, but it ended up being fairly expensive as the bumper needed to be replaced (not to do so would have compromised vehicle safety). The other driver (who was clearly at fault) had said she didn't want to have a report on her insurance & wanted to handle it without insurance companies getting involved. Luckily, my sister did end up getting paid, although the other driver was also surprised by the cost.
I'd say, when in doubt, call the police, especially if you think there might be anything shady about the other driver. The laws of your state may require they be called.
wander
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Re: Help switching Insurance - anyone use Geico??

Post by wander »

yosh99 wrote:After a disastrous experience with State Farm, we looked at both Progressive and Geico. Progressive was much cheaper and we went with them. After 10 years with Progressive, we've had nothing but excellent service.
I switched to Progressive for one year because the cost was lower than GEICO, but then it jumped the following year. I am now happy with GEICO.
jdouge
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Re: Help switching Insurance - anyone use Geico??

Post by jdouge »

Been with Geico 23 years, never found a lower rate. Two claims in that period, both handled with speed and courtesy.
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mike143
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Re: Help switching Insurance - anyone use Geico??

Post by mike143 »

Include Amica in your quotes.
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Anon1234
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Re: Help switching Insurance - anyone use Geico??

Post by Anon1234 »

lindisfarne wrote:
Anon1234 wrote:Experience 2: Geico currently denying repair cost for a parking lot fender bender due to insured not calling them (my brother,as bystander, observed his car being hit in parking lot).
As a word of advice: states have laws that state if damage is beyond a certain $ amount, police must be called. Many "fender-benders" these days can be quite expensive.
Police reports were filed. They still deny coverage until the insured calls.
Grt2bOutdoors wrote: Can't blame Geico in either case, would you give money to an anonymous person just because they said your brother Joe called and he said it was okay to give it to them? You'd want to verify the story first, right? The insured didn't want to call, because they didn't want their records to be marked as having been involved in an accident and they don't want their premium costs to go up.
Police reports were filed. They knew they were liable. What they were doing was playing the odds that their insured wouldn't call. In that case, they invoke a clause in the contract that says they can deny the insured coverage if the insured does not report the accident to Geico.

The reason I am frustrated with Geico on this point is that they are not trying very hard to contact the insured. If my mother-in-law can track down a guy from 500 miles away, with zero bounty-hunting experience, then Geico isn't acting in good faith. They are hiding behind red tape.

I would quote my policy contract on this point, but Geico does not make policy contracts available online.
lindisfarne
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Re: Help switching Insurance - anyone use Geico??

Post by lindisfarne »

Anon1234 wrote:Police reports were filed. They knew they were liable. What they were doing was playing the odds that their insured wouldn't call. In that case, they invoke a clause in the contract that says they can deny the insured coverage if the insured does not report the accident to Geico.

The reason I am frustrated with Geico on this point is that they are not trying very hard to contact the insured. If my mother-in-law can track down a guy from 500 miles away, with zero bounty-hunting experience, then Geico isn't acting in good faith. They are hiding behind red tape.

I would quote my policy contract on this point, but Geico does not make policy contracts available online.
Did you report this incident to your state insurance commissioner (assuming you live in a state which has an insurance commissioner who protects consumer rights & which is funded adequately (through taxes) to hold companies accountable?) Doing that and sending a copy to Geico might get a better response.

Ultimately, Geico would have had to insure, even if the "insured" never called Geico, if you could prove it was someone carrying Geico insurance. It might have taken your auto insurance company to force them to. I agree with you that Geico should have been more pro-active - they have to have contact info. for their policy holders. The police report would have helped, had they denied there was an accident.
CUBuffs
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Re: Help switching Insurance - anyone use Geico??

Post by CUBuffs »

Beerwolf,
I've had GEICO for our car and home insurance for about 20 years. I had an accident in July of this year. The accident was my fault, since I backed into someone in a parking lot. The damage to my bumper was $550, but I have a $500 deductible, so it only cost GEICO $50. The damage to the other car was more extensive, i.e., the right passenger side rear was pretty damaged.

I just got my renewal notice a few days ago and my rates didn't increase. I'm thinking that it might have been because I've been with them for a long time. Or else they haven't gotten around to analyzing my rates.

I would whole-heartedly recommend GEICO.

Mike
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bottomfisher
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Re: Help switching Insurance - anyone use Geico??

Post by bottomfisher »

Been with Geico for over 11 years for auto insurance and pleased with service. No collisions or noeworthy tickets to affect driving record and insurability.
Anon1234
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Re: Help switching Insurance - anyone use Geico??

Post by Anon1234 »

lindisfarne wrote: Did you report this incident to your state insurance commissioner (assuming you live in a state which has an insurance commissioner who protects consumer rights & which is funded adequately (through taxes) to hold companies accountable?) Doing that and sending a copy to Geico might get a better response.
The current one is my brother's. I will suggest that to him as an option.
lindisfarne wrote: Ultimately, Geico would have had to insure, even if the "insured" never called Geico, if you could prove it was someone carrying Geico insurance. It might have taken your auto insurance company to force them to.
I don't know if that is true. I have not experienced that before.
lindisfarne wrote: I agree with you that Geico should have been more pro-active - they have to have contact info. for their policy holders. The police report would have helped, had they denied there was an accident.
Yep, The PITA factor is high.
Gnirk
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Re: Help switching Insurance - anyone use Geico??

Post by Gnirk »

We just switched our auto insurance to GEICO from Hartford (AARP) because of Hartford's huge increases in premiums. We insure four cars. GEICO saved us a bundle, bring the premiums down to almost where they had been previously. We do have a GEICO office about 20 miles away, so we didn't have to do anything over the internet.

I hope GEICO will be a good insurer!
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Info_Hound
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Re: Help switching Insurance - anyone use Geico??

Post by Info_Hound »

Been with GEICO for 20+ years with cars, only 5 years with umbrella coverage. Would highly recommend them for auto, i've had no claims for the homeowners policy. Homeowners went up $50 this past year due to the wildfires that burned so many homes in the nearby mountain foothills.

My past experience with GEICO auto claims has been excellent. Fast, through and no hassle and my rates did not increase when renewal rolled around.

Even after adding a new teenage driver to the policy (no, she does not own a car) they helped find ways to reduce the cost of adding her. I have not considered them an internet insurance company because they have storefront offices with real people available to help you if needed.
investor1
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Re: Help switching Insurance - anyone use Geico??

Post by investor1 »

I have been with Geico for less than a year. I switched from Progressive because they attempted to raise the premium. That prompted me to shop around. Geico was about 25% cheaper. I haven't had a claim (I didn't with Progressive either over the ~6 years I was with them). I don't have any complaints about Geico so far. Other than attempting to raise the rates, I don't have any complaints about Progressive either.
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Re: Help switching Insurance - anyone use Geico??

Post by jlawrence01 »

Of all the companies that I have shopped over the years, GEICO's representatives over the 800 number have been some of the sleaziest that I have encountered. I get all of the typical "high pressure" tactics like, "if you don't sign up today, your rates will go up" and the like. They have asked me very few questions other than the typical ones about my car. Their rates have not been competitive with the other high volume insurers - State Farm, Allstate, and Progressive.

When I retired, I decided to take a completely different approach. I called an independent agent who represents eight different carriers. I sent him the declaration sheets for my current insurer. Before quoting any carrier, he had about 45 minutes worth of probing questions to see if my insurance coverage was adequate. Two days later, he provided me with two different quotes from different carriers. Both were about 15% lower than the Big 4 above with HIGHER policy limits on the umbrella and condo policies.

I will admit that the West Bend Mutual does not have as entertaining commercials.
Randomize
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Re: Help switching Insurance - anyone use Geico??

Post by Randomize »

I used Geico for several years and had no issues. My only claim was a roadside/towing job and it worked flawlessly. The only reason I left them was Progressive shaved 50% off my premiums :happy
Gleevec
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Re: Help switching Insurance - anyone use Geico??

Post by Gleevec »

I have had excellent premiums and service from GEICO for my auto insurance and have my umbrella policy through them as well. I am always shopping for a better deal though
dandan14
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Re: Help switching Insurance - anyone use Geico??

Post by dandan14 »

We're in the middle of a claim with Geico now. (Geico is our insurer and my wife tapped someone who is now claiming 2 weeks lost wages.) I've been pretty impressed with their responsiveness so far.
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Quasimodo
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Re: Help switching Insurance - anyone use Geico??

Post by Quasimodo »

We've been with GEICO for several years. Recently I contacted them by phone and described the lower mileage we drive since my wife and I retired, and the representative immediately reduced our premium by a substantial amount based on our phone conversation.

In addition to having a user-friendly website and phone reps, I feel comfortable with GEICO's financial stability and overall integrity as a subsidiary of Berkshire-Hathaway.

We haven't had any claims, so can't comment on that aspect of their service.

John
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Re: Help switching Insurance - anyone use Geico??

Post by Cyclone »

I had a very bad experience were the other party was at fault and was insured by GEICO. They dragged their feet on paying me for a year even after an arbitrator ruled against them. Nothing but a bunch of crooks in my opinion. State Farm, too. Farmers was good, though. Personally I use 21st Century (now owned by Farmers).
amarone
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Re: Help switching Insurance - anyone use Geico??

Post by amarone »

I swapped my auto/home/umbrella from All State to GEICO when All State's premiums went up significantly, although I had never had a claim with them. I also have never had a claim with GEICO.

Note that GEICO does not actually provide home insurance - they resell for several other companies. The first quote I got was from Traveler's. They sent a guy round who walked around the outside of the house and then revised their price substantially upwards. I canceled and went with a company I've never heard of - ASR (still provided through GEICO).

I have recently moved from GEICO because I bought a house in a coastal region and none of the home insurance companies available through GEICO would insure it. It worked out cheaper to move all my insurances to another company to get the discounts for having multiple policies.
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Re: Help switching Insurance - anyone use Geico??

Post by Grt2bOutdoors »

Anon1234 wrote:
lindisfarne wrote: Did you report this incident to your state insurance commissioner (assuming you live in a state which has an insurance commissioner who protects consumer rights & which is funded adequately (through taxes) to hold companies accountable?) Doing that and sending a copy to Geico might get a better response.
The current one is my brother's. I will suggest that to him as an option.
lindisfarne wrote: Ultimately, Geico would have had to insure, even if the "insured" never called Geico, if you could prove it was someone carrying Geico insurance. It might have taken your auto insurance company to force them to.
I don't know if that is true. I have not experienced that before.
lindisfarne wrote: I agree with you that Geico should have been more pro-active - they have to have contact info. for their policy holders. The police report would have helped, had they denied there was an accident.
Yep, The PITA factor is high.
Geico's responsibility is to it's policy holders. You have the insured's contact information - if they fail to acknowledge the accident, you could force the issue one of two ways - 1) you report Geico to the state insurance commissioner and 2) you file suit naming the defendant who caused the damage to your property. The defendant will be two parties - party A is the person driving the vehicle, party B is the insurance company. Guess which method garners a faster response?
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
marek
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Re: Help switching Insurance - anyone use Geico??

Post by marek »

Try Amica.
eddiejov55
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Re: Help switching Insurance - anyone use Geico??

Post by eddiejov55 »

I shop around every year, or two, for most competitive rates. My wife and I recently purchased our first home and we now have car insurance through progressive and home insurance through USAA. I haven't been able to beat the progressive rates for car insurance (not even close) and the home insurance rate was pretty close through the big suppliers. So I would shop around and see what you get.
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midareff
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Re: Help switching Insurance - anyone use Geico??

Post by midareff »

I shopped car insurance when I had my latest ride ordered. I had been with Liberty Mutual for 46 years for all insurance needs. I used to quote around every year or two and was aleays happy. Apparently things have changed and after i retired and had plenty of time to do these things I quoted State Farm, Hartford and Geico. When I got the results I called Liberty Mutual to ask W T F. They said they could rewrite the policy rather than renew it and save me about $900 a year. The new rate was slightly higher than both State Farm and Hartford and still significantly higher than Geico. I'm a Gecko guy now for the car. I went to the Florida state pool for home owners as they were another $600 a year or so cheaper than Liberty.

Edit Note: Already had my first car insurance renewal since Geico does 6 month policies. No raise.
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