Any experience with Geico/HomeSite homeowners insurance?

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Alto Astral
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Joined: Thu Oct 08, 2009 10:47 am

Any experience with Geico/HomeSite homeowners insurance?

Post by Alto Astral » Wed Nov 18, 2015 8:40 pm

Hi,
I am looking to buy a homeowners insurance. Since I have my auto insurance with Geico, I got a quote from them. In the fine print, I saw that HomeSite/AmFam was the company underwriting the insurance. I did some search on HomeSite. I came across these:
1 star at ConsumerAffairs based on 164 ratings out of 219 reviews: http://www.consumeraffairs.com/insurance/homesite.html
A small mention in this bogleheads post: viewtopic.php?t=71675

I've compared Geico/HomeSite, Liberty Mutual, StateFarm, Travellers. StateFarm had the highest premium and Travellers did not seem to have sufficient types of coverages (sump pump etc). I tried getting a quote from Amica but their site does not let me go past the personal information page. So far Geico/HomeSite seems good with coverage and premiums. However, I was concerned with the ConsumerAffairs reviews above. I wanted to see if anyone had experience filing claims with them and how the experience was.

Thanks for your time
Alto

skinhealer
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Joined: Mon Sep 01, 2014 3:41 pm

Re: Any experience with Geico/HomeSite homeowners insurance?

Post by skinhealer » Wed Nov 18, 2015 9:33 pm

I was in a similar situation recently. Looked at all the other companies and had geico for more than 8 yrs and every single year insurance went up. Geico doesn't have their own for home owners it's from a third party. My thought process is why would I need a middle man when you can go to the source. Even with their discount it was still more as compared to going separately.

August
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Re: Any experience with Geico/HomeSite homeowners insurance?

Post by August » Wed Nov 18, 2015 10:02 pm

Please don't take this as a recommendation for one carrier over another, but working in the insurance industry I know that Travelers does offer sump pump coverage as an endorsement. It is part of their Enhanced Home package endorsement for HO-3 policies and can be purchased as an additional coverage in the High Value Policies. Your best bet, if you are not familiar with Homeowner's Insurance policies and endorsements is to find a reputable independent agent who can shop several carriers policies for you and help you pick the best one for you. Working as an adjuster, I can't tell you how many claims I've denied due to folks shopping for policies online who thought they had coverage for something and didn't.

Disclaimer: I am not recommending any insurance carrier over another, just speaking from my experience working as an adjuster with several different carriers. I always recommend people shop for insurance with a reputable independent agent. Also sometimes agents can offer policies through smaller regional companies who you may not think of to search online for.

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fandango
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Location: Greater Atlanta area

Re: Any experience with Geico/HomeSite homeowners insurance?

Post by fandango » Thu Nov 19, 2015 2:08 pm

Several years ago, I checked out the home insurance offered through GEICO.

The provider was Hartford, and the policy was more costly than my State Farm policy.

Nordmain
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Joined: Wed Apr 11, 2018 11:31 am

Re: Any experience with Geico/HomeSite homeowners insurance?

Post by Nordmain » Wed Apr 11, 2018 11:40 am

During the recent Noreaster of 3/2, House suffered some damage. It took Homesite 40 days to resolve the claim. The claim assessment and resolution is inherently flawed because undue delay makes it difficult to adequately and fairly assess any homeowner concerns. Perhaps, the delay is engineered to minimize any claim payout. It is one thing to sell a policy and another to service it, i.e, claims. In a situation where damage has occured, time is of the essence. What good is a Homeowner's policy if claim assessment and resolution are tardy at the best. This has left a bad taste in my mouth. I picked Geico because of its ties to Mr. Buffett. My counsel to anyone that picks Geico or Homesite, exercise caution because claim resolution is slow, inefficient and unfair.

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LadyGeek
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Re: Any experience with Geico/HomeSite homeowners insurance?

Post by LadyGeek » Wed Apr 11, 2018 3:47 pm

Nordmain, Welcome! FYI - This post is from 2015.
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