GEICO Insurance

[VenomZ302]

Before we got married, my wife was paying $2000/yr for GEICO insurance on her 2006 Hyundai Elantra. I was paying $1600/yr for my 2007 Infiniti G35S at the time with SafeCo.

After marriage, we pay ~$1500/yr to cover BOTH the Elantra and the Camaro!

[abaucom21]

Insurance coverage takes in so many factors. City you are living in is one factor, as well as type of car, your age, etc. I shop prices about every 3 years. Beside lowest price insurance that should be considered is fast and reliable service from your agent. When comparing insurance prices you should also consider not just lowest price but the customer service you will receive.
I have insured both my cars with State Farm for close to 20 years and bundled with both my home owners or at times renters insurance (current renter). In the past 30 years also used Allstate and Geico. Spending time with State Farm has kept my expenses down even though I have made claims for both auto damage and personal property damage (tornado hit my 19th floor apartment 18 months ago).
Years ago when I had a car stripped and to get the car repaired to my satisfaction had to file a complaint with the Pennsylvania state insurance commission to get my Allstate to repair the car with quality replacement parts (took 6 months for Allstate to honor my insurance claim and only after the State became involved). I had moved from Manhattan, Allstate gave me better monthly rates in Philadelphia. After that experience I returned to State Farm
I have a long list of insurance claims during the past 25 years and I will stick with State Farm as my rates have never increased due to filing a claim based on something I was not at fault.
Progressive Insurance: Back in 1998 had a Progressive insured driver rear end me. What could have been an easy settlement turned into a 3 year court battle that resulted in a financial loss to both the other driver and Progressive only because Progressive thought they could overwhelm me with red tape. This kind of thinking from Progressive Insurance turned a straight forward $15,000 rear end crash into a $100,000 three year court action when you factor in legal expenses.
When you consider cost of insurance consider how your insurance company will settle a claim. Every time I have filed an auto claim, or personal property claim, claims have always been fast and effort free with my State Farm.
I was a little shocked when I called State Farm last May and informed them I was trading my 1996 Sebring LXI coupe for a 2011 2LT Camaro and the car would not be delivered until early August. My 12 month rate only increased $250 per year.
I do not suggest one insurance company or agent is best. However, when you have to file a claim, be sure your insurance company & agent is on your side.

[Rogue Leader]

We've had this discussion before, in short every insurance company is different and has different rating categories in different areas, as well as different experiences. Some companies fit some people well some don't.

I worked for one of the major companies for many years and I saw it on a daily basis.

For the record I have GEICO now, 30 yrs old, 1 car, no tix or accidents in the past 5 years, and they are far cheaper than everyone else. And I check every year because I know how things change.

Moral of the story, shop around.

[bkscott]

Originally Posted by CUPRA

I've had the opposite experience.

I am with Geico right now, and every insurance carrier I have called has been way higher.

With Geico I'm at $806 for 6 months for my 2011 Camaro 2SS/RS and my wife's 2010 VW Jetta Limited Edition.

Called State Farm - $997

Called All State - $1326

Called GMAC Insurance - $4217 !!!!

So I'll stick with Geico for right now!

Have you ever had a claim with them?

[DarrenJ]

Originally Posted by bkscott

Have you ever had a claim with them?

Wife hit a deer a few months ago, I hit a turkey back in the spring, thats it.

EDIT: My credit's not blown & I'm past my 30's, too...

[scythezo6]

Dont bash GEICO because of the OP's post! I geico and in my case its cheaper than all other insurance agencies. One thing I will comment on from experience is All-state has no problem leaving you high and dry in certain situations. My girlfriend and I have virtually identical coverage and she is constantly getting griefed for something. Whenever she calls me crying about what her insurance won't do I just think to myself "Damn, that sucks good thing I have GEICO."

Insurance is really variable so what one person gets won't be the same for another.

[Lawdog1911]

My Fav Geiko Commercials

[Mr. Wyndham]

I dunno what your situation is...but I have Geico Insurance for the Cobalt and was quoted for the Camaro SS.

380/6 mo. for the sedan, and 420/6 mo. for the Camaro. For full coverage and both listed as commuters @ 12,000 miles a year.

A friend of mine used to work for the company. He told me that Geico specializes in high-risk drivers. It seems backwards, but these people actually get the better rates on average, he told me. Based on things I've heard about Geico...it seems to be true.

[Rogue Leader]

Originally Posted by Dragoneye

I dunno what your situation is...but I have Geico Insurance for the Cobalt and was quoted for the Camaro SS.

380/6 mo. for the sedan, and 420/6 mo. for the Camaro. For full coverage and both listed as commuters @ 12,000 miles a year.

A friend of mine used to work for the company. He told me that Geico specializes in high-risk drivers. It seems backwards, but these people actually get the better rates on average, he told me. Based on things I've heard about Geico...it seems to be true.

LOL its COMPLETELY the opposite. Progressive is the one that does that, GEICO, is far from it.

[savage71ChevelleSS]

Somebody's gotta pay for those Geico commercials, and it is the people that buy their insurance. Glad I don't live in any of your states. States like taxachusetts, I would move the f*ck out if I had to pay that type of money. Bend over and stick it and don't even have the common courtesy to give you a reach around. Have USAA for my Camaro. 200/500/200 coverage, zero comp deductible, and 500 collision deductible. Pay $214 every 6 months.

[20Camaro11]

Generally speaking, Geico, Progressive, Safe Auto...and such are considered high risk carriers in the industry. They may charge marginally lower rates to high risk drivers compared to other companies, but the drivers who have good records are subsidizing those rates through astronomically higher rates. Insurance carriers like State Farm and All State offer more reasonable rates based on lower risk insurees and offer very high rates to high risk ipeople...if they carry the person at all. The best advice is to shop around, if you have clean record, someone will give you a great deal, if you are speedy gonzalez with uber tickets and accidents...don't expect much. I pay $450 a year for full coverage and comp. Single household with 2 cars...I can only drive one car at a time, and my record is fairly clean.

[fielderLS3]

Interesting numbers. I've been shopping around for quotes and basically got the opposite results. Geico and Progressive there my cheapest quotes, and State Farm was one of the most expensive. God only knows how these companies come up with their numbers.

[Rogue Leader]

Originally Posted by 20Camaro11

Generally speaking, Geico, Progressive, Safe Auto...and such are considered high risk carriers in the industry. They may charge marginally lower rates to high risk drivers compared to other companies, but the drivers who have good records are subsidizing those rates through astronomically higher rates. Insurance carriers like State Farm and All State offer more reasonable rates based on lower risk insurees and offer very high rates to high risk ipeople...if they carry the person at all. The best advice is to shop around, if you have clean record, someone will give you a great deal, if you are speedy gonzalez with uber tickets and accidents...don't expect much. I pay $450 a year for full coverage and comp. Single household with 2 cars...I can only drive one car at a time, and my record is fairly clean.

Theres a bit more to it than that. I will use NY as an example but this applies to most other states. NY has the assigned risk pool, for drivers who can't get insurance since providing insurance is voluntary by companies in NY state. Assigned risk is insurance for those who can't get insurance through the voluntary market. Every company has to take their percentage of their market share in assigned risk.

For example if GEICO has 20% of the voluntary market they need to pick up 20% of assigned risk drivers. Heres the thing that GEICO and others do. They are allowed to have voluntary rating categories that are equivalent to assigned risk. Basically they can sell someone a policy at the same level but the advantage is they can charge more (or less) AND they can drop them at any time. That is a huge advantage because assigned risk insurance is guaranteed, meaning you can go out and get a policy and continually total brand new cars out in stupid accidents and they have to keep insuring you.

These people are not subsidized by the better drivers (at least not at GEICO, Progressive is different, it doesn't have a preferred company so even the lowest payers are subsidizing them), each group is separated into different companies, kinda like High, mid, and low.

I've only talked about the advantage for the company but its also advantageous for the normal customer and even the assigned risk customer. For the normal customer it means that the company can drop at any time people that are causing a lot of losses. Thats huge for keeping down losses so they don't have to raise rates. For the assigned risk customer because assigned risk is price fixed (sort of) they have no chance to save money should their record improve. With becoming a voluntary insured every 6 months it will be reviewed and their rate can decrease if they aren't causing trouble.

I hate that I haven't worked in insurance for over 3 years and I still remember all this crap.

[John Shields]

Originally Posted by DarrenJ

Got tired of all the GEICO direct mail, so I called em for a rate. GEICO was Way more for 6 months than what I am paying with State Farm and that did not include my '67 Camaro and my '78 Trans Am. Here is the breakdown:


GEICO rate first, then State Farm's rate:


2010 Chevy Equinox - $730.00 $497.00
2010 Camaro - $807.00 $397.00
2008 Suburban - $643.00 $488.00
2004 Silverado - $708.00 $405.00
2003 Silverado - (Kids) $1166.00 $708.00
1999 Z-28 - $572.00 $402.00

Same coverage, deductibles on comp with GEICO were higher which should have lowered their premium. Only incident was my wife hit a deer several months ago and I hit a wild turkey in the spring.

I had Farmers and to add my new Camaro would have almost doubled it. I told them I was going to cut them and go with someone else if they didn't match the price and he could only come within $200 of Geico.

So, I switched to them. Pay something like $600 for three cars with Geico (6 months). Not bad for two drivers, both under 30.