Topic: Anyone Have Experience with GEICO Auto Insurance? (Read 1679 times)

kmelew · « **on:** August 17, 2004, 07:10:53 pm »

Good or Bad?

After 30 years GEICO is now back in the NJ auto insurance market. I recently got an online quote from them and it was less than half of what I pay now! Right now I pay over $1700 a year in insurance (and that's with a perfect driving record and a 2001-year vehicle--NJ has the highest auto insurance rates in the country), so when I get a quote that less than half of what I'm paying now I wonder, is it too good to be true?

Any insite would be helpful. Thanks.

Gambler · « **Reply #1 on:** August 17, 2004, 08:29:02 pm »

I've had GEICO for two years now. No claims so I don't know how they are handled. We did use their roadside towing once that went fine.

For half the money it's definitely something for you to consider.

NuclearWessels · « **Reply #2 on:** August 17, 2004, 08:56:34 pm »

The only problem we had with them was that they kept accidentaly <cough> increasing my wife's payments (she was getting them directly debited from an account).

We had to phone them several times a year, whenever they had mistakenly increased the amount to be debited. They were always very nice about correcting things, but you have to wonder how many people never check their statements and don't realize they're paying more than the agreed amount. (Maybe that's just me being cynical of course

)

dave

Capt. Mike · « **Reply #3 on:** August 17, 2004, 09:18:36 pm »

Biggest problem (?) with GEICO is they are picky..i.e. they prefer good driving records, no accidents, DUI's, etc...of course, that's how they keep costs down, only sell to good drivers...have had GEICO since '83, only one accident, and it wasn't my fault...but they won't take just anyone

Mike

Gambler · « **Reply #4 on:** August 17, 2004, 09:19:09 pm »

Note to self:

Don't sign up for automatic direct debit of GEICO premiums.

Mentat Jon · « **Reply #5 on:** August 17, 2004, 09:26:14 pm »

Cant get GEICO in MA.

Capt. Mike · « **Reply #6 on:** August 17, 2004, 09:30:22 pm »

That's because MA state law says the insurance company has to insure everyone...no matter what..so they raise everyone's rate to cover bad drivers..that's what NJ changed..companies can deny or charge a much hight premium for poor drivers..

Gambler · « **Reply #7 on:** August 17, 2004, 09:35:00 pm »

Seems to me that's logical. Why should a company be forced to cover everyone and charge everyone equally.

As a good driver I shouldn't have to subsidize the bad ones.

Of course I live in Mississippi where they just recently enacted a law mandating auto insurance.

E_Look · « **Reply #8 on:** August 17, 2004, 10:14:23 pm »

People I know who've had them say they're very good with handling claims, but if you have a couple of accidents, they drop you like a hot potato. One of those people really wasn't such a good driver, think about that before deciding.

AlienLXIX · « **Reply #9 on:** August 17, 2004, 11:58:23 pm »

I've been with them since '99 and I have never had any problems with them. And yes it's always a good idea to check your bank statement if you are doing a direct payment to them.

I've only had one claim with them and they took care of me with no problems. My monthly only went up $20. But we still only pay less than $100 a month. Can't beat that really.

Hope that helps.

Dash Jones · « **Reply #10 on:** August 18, 2004, 12:31:57 am »

I had a friend on Geico. He got into an accident that wasn't even his fault. Geico dropped him like a stone. Suddenly he didn't have insurance. If you want a company that won't support you if you get in an accident...go Geico. If you only want something to show an officer that you have insurance, get Geico...

But if you want insurance that actually wants to help you...well, there are other places then Geico, at least that's the impression I got from the way the handled my friend. It wasn't a major accident either, which was the funny thing. He was under the age of 21 however...a little older then me, not by much.

I wasn't there at the accident, but I saw the results of it. I was rather shocked how Geico dropped him. He had insurance one moment, the next moment he did not. From that, personally, I would never go Geico...however, it depends on what you want the insurance company for, AND of course, my only experience with Geico has been from the experiences of another, and nothing personally.

kmelew · « **Reply #11 on:** August 18, 2004, 01:33:10 pm »

Quote from: Dash Jones on August 18, 2004, 12:31:57 am

He was under the age of 21 however...a little older then me, not by much.

Insurance companies as a whole are not too keen on insuring young drivers. Heck I wasn't considered an adult driver until I turned 30!

NJAntman · « **Reply #12 on:** August 18, 2004, 09:10:07 pm »

FYI Geico and Mercury are the only companies allowed in NJ to consider your credit rating as reason for acceptance/denial.

Aldaron_Nirantani · « **Reply #13 on:** August 19, 2004, 06:36:07 pm »

Haven't used Geico and haven't had to submit claims so really can't help with how things go but I' with State Farm, full coverage, 2004 Ion and renter's insurnace and I pay around $80 /month for a 38 yr old driver with nothing on the records. Was $60 before I bought the new car

Grand Master of Shadows NCC37385 · « **Reply #14 on:** August 19, 2004, 09:46:24 pm »

Ive never paid more than $400/yr for car insurance.

Just plain old Punisher · « **Reply #15 on:** August 21, 2004, 03:20:55 am »

I think I killed their mascot the other day...scared the crap out of me damn lizard crawling along the wall.

I wonder if they'll still give me a good driver discount.

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