GEICO sucks!

Swisstrader · #1 (**permalink**) 17-05-2010, 22:50

Got a notice in the mail today that GEICO has decided to raise my rates by 300%!!! No, that is not a typo. Said it was for two main reasons: 1) my daughter got her drivers permit and 2) I got a recent ticket for not yielding. That ticket i just (stupidly) did not fight. This increase is for the 3 cars i own and they are clear about the fact that my daughter will not be driving the Spyker anytime soon.

I was blown away...on the tickets front, I have a couple, not a lot...GEICO seemed particularly concerned with me having "equipment tickets", which turned out to be tickets for not having a front license plate! For that plus my daughter getting her permit and driving perhaps 2 hrs per week, they raised my rates over 300%

Even after I spoke with underwriters, supervisors and everyone but that obnoxious gecko, I still got a "gee, thats our policy response.". Needless to say I called one of their competitors and got a quote that was cheaper than my original quote from GEICO.

So much for all the BS competitive pricing commercials!

IVR007 · #2 (**permalink**) 17-05-2010, 23:59

That's one way to get rid off your customers..

panoz1 · #3 (**permalink**) 18-05-2010, 02:47

Here is a hint go buy your kid a beater and put it in your kids name as a primary ride that will remove her from your newer cars. But because she lives at home she will still be covered on all cars. Talk to your agent your child will always get assigned to the most expensive car unless you have a car designated for her use. P.S. that why God made Saturn....

mrobin33 · #4 (**permalink**) 18-05-2010, 22:37

Progressive allow me to specifically exclude my daughter (who has an at fault accident at 17!) from all but two cars (hers and my wifes) which lowers the premiums a lot - I also have my Camaro and the Spyker on that policy.

Everything else (Bentley, Jag XK and Vette) are now on a Hagerty classic policy - they too allow her to be excluded from all those cars but I had to send them the Progressive policy to prove she had another car to drive.

It's worth the hassle to shop around.

Swisstrader · #5 (**permalink**) 19-05-2010, 15:26

Good news! - the (shocking) good news is that a much more informed SVP from GEICO corportate phoned me with a deep apology and indicated that while I was a bit "on the edge" of dropping into their assigned risk pool, they have decided to keep my policy at my old rate

More a case of a computer model making (lousy) decisions based on a pattern of tickets more than anything else. So basically, insurance companies don't care whether or not your ticket was for speeding or for a busted tailight, they simply see that you have a pattern of X tickets over X time, end of story.

Laviolette GT2R · #6 (**permalink**) 19-05-2010, 15:41

Quote:

Originally Posted by Swisstrader

...Needless to say I called one of their competitors and got a quote that was cheaper than my original quote from GEICO.

Quote:

Originally Posted by Swisstrader

Good news! - the (shocking) good news is that a much more informed SVP from GEICO corportate phoned me with a deep apology and indicated that while I was a bit "on the edge" of dropping into their assigned risk pool, they have decided to keep my policy at my old rate

So, what's the good news? You're still paying too much

!