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Car Insurance and Geckos
Posted by: Markintosh
Date: February 12, 2020 07:19PM
Thoughts on Geico for car insurance?

Our latest policy from 21st Century went up about 12% for no reason this renewal period. We started shopping and Geico comes in pretty solid with a rate a full $1000 a year cheaper for almost identical coverage, plus their website actually works correctly.

I know USAA gets a lot of mentions here but getting my 80 year old mother to do the hoops required to get us access to USAA is probably wishful thinking.

What I really need is to own less than 5 cars but that is not happening just yet...



“Live your life, love your life, don’t regret…live, learn and move forward positively.” – CR Johnson
Loving life in Lake Tahoe, CA
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Re: Car Insurance and Geckos
Posted by: mattkime
Date: February 12, 2020 07:45PM
Which state?

If my car insurance dropped $1,000 they'd be paying me!







Edited 1 time(s). Last edit at 02/12/2020 07:45PM by mattkime.
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Re: Car Insurance and Geckos
Posted by: Sarcany
Date: February 12, 2020 07:49PM
Would not have recommended them a couple of decades ago. They were expensive and inefficient. I've got horror stories. But they've changed.

I was in an accident a few years ago and the other driver was a GEICO customer. GEICO was incredibly efficient and provided more services to me than my own insurance company did.

So, I called GEICO and they gave me better coverage at about 30% what I was paying previously.

Forward a couple of years and some guy in little sportscar rams my car on the freeway. Submitted all documentation and got claims status online. They arranged for a local shop to do the work and gave me a loaner. The only time I had to pick up a phone was to check my text messages for status updates.

Count me a GEICO fan now.



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Re: Car Insurance and Geckos
Posted by: Markintosh
Date: February 12, 2020 08:01PM
argh Wrong side...



“Live your life, love your life, don’t regret…live, learn and move forward positively.” – CR Johnson
Loving life in Lake Tahoe, CA



Edited 1 time(s). Last edit at 02/12/2020 08:02PM by Markintosh.
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Re: Car Insurance and Geckos
Posted by: Markintosh
Date: February 12, 2020 08:04PM
California....5 vehicles....and my wife drives a ton of miles...

Quote
mattkime
Which state?

If my car insurance dropped $1,000 they'd be paying me!



“Live your life, love your life, don’t regret…live, learn and move forward positively.” – CR Johnson
Loving life in Lake Tahoe, CA
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Re: Car Insurance and Geckos
Posted by: graylocks
Date: February 12, 2020 08:55PM
i was with GEICO for 30 years. i had no complaints. i left about 8 years ago purely because their rates kept going up and up. like with most insurers loyalty is punished and as rates go up they bank on your inertia. i finally bolted and cut my rate in half.



"Success isn't about how much money you make. It is about the difference you make in people's lives."--Michelle Obama
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Re: Car Insurance and Geckos
Posted by: Acer
Date: February 12, 2020 09:38PM
When we got dropped by our old insurance, GEICO bid the lowest among the 3 or 4 I got quotes by a significant margin. This is with two teen drivers in the house and a couple recent smallish claims. Rates have not gone up much so far, three years into it. A totaled car was processed and paid within a week with a very fair payout. I can do most transactions, even claims, through the app.
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Re: Car Insurance and Geckos
Posted by: mrbigstuff
Date: February 12, 2020 11:43PM
Never go with a company that spends 100s of millions on advertising. They are paying for that through you.
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Re: Car Insurance and Geckos
Posted by: Ombligo
Date: February 13, 2020 05:04AM
Go to an independent insurance agent and have them check rates, especially if you can bundle homeowners or a second policy (such as life) for a discount. Then compare what they find with Geico to make an informed decision.



“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld

"WE CALL BS!" -- Emma Gonzalez
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Re: Car Insurance and Geckos
Posted by: mattkime
Date: February 13, 2020 07:46AM
I had geico but got lower rates and vastly better coverage through an independent broker. But I don’t live in CA



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Re: Car Insurance and Geckos
Posted by: Markintosh
Date: February 13, 2020 08:49AM
Quote
Ombligo
Go to an independent insurance agent and have them check rates, especially if you can bundle homeowners or a second policy (such as life) for a discount. Then compare what they find with Geico to make an informed decision.

This is generally a good solution. I can't get life insurance at any decent rate. I also can't risk changing homeowners right now when many of my neighbors are getting cancelled due to fire danger.

As to the car insurance thing, I don't know that I want to involve an agent either. I'm not just looking for the best price, I also want easy. I want a great app and/or website so I don't have to interact with people during business hours. Life is busy.



“Live your life, love your life, don’t regret…live, learn and move forward positively.” – CR Johnson
Loving life in Lake Tahoe, CA
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Re: Car Insurance and Geckos
Posted by: mattkime
Date: February 13, 2020 09:27AM
Quote
Markintosh
I don't know that I want to involve an agent either. I'm not just looking for the best price, I also want easy. I want a great app and/or website so I don't have to interact with people during business hours. Life is busy.

You might as well price out how much that convenience will cost you.

Then again, maybe you interact with your insurance company a lot more than I do. :-)
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Re: Car Insurance and Geckos
Posted by: Ombligo
Date: February 13, 2020 07:36PM
Then your three best online bets -- Progressive, Geico, and Esurance (it is owned by Allstate).

Progressive does offer a substantial discount for going online versus an agent.



“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld

"WE CALL BS!" -- Emma Gonzalez
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Re: Car Insurance and Geckos
Posted by: rjmacs
Date: February 14, 2020 03:00PM
Quote
Sarcany
Would not have recommended them a couple of decades ago. They were expensive and inefficient. I've got horror stories. But they've changed.

I was in an accident a few years ago and the other driver was a GEICO customer. GEICO was incredibly efficient and provided more services to me than my own insurance company did.

So, I called GEICO and they gave me better coverage at about 30% what I was paying previously.

Forward a couple of years and some guy in little sportscar rams my car on the freeway. Submitted all documentation and got claims status online. They arranged for a local shop to do the work and gave me a loaner. The only time I had to pick up a phone was to check my text messages for status updates.

Count me a GEICO fan now.

I've mentioned this before, but in some states (including MD), GEICO can offer much lower rates than other companies because it's overcapitalized (owned by Berkshire Hathaway, has virtually unlimited cash reserves) and can undersell other companies.

State insurance regulators often require insurers to maintain cash reserves sufficient to cover very high levels of claims, and many corporations are forced to rely on premiums to maintain those reserves. Not GEICO.



rj
AKA
Vreemac, Moth of the Future
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Re: Car Insurance and Geckos
Posted by: Markintosh
Date: February 14, 2020 06:12PM
We did pull the trigger on Geico...hopefully it all works out. I can't say I would recommend 21st Century...



“Live your life, love your life, don’t regret…live, learn and move forward positively.” – CR Johnson
Loving life in Lake Tahoe, CA
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