GEICO rate increase of over 30%

[Kirk*Mojave]

I dumped geico 3 months ago for this exact reason

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[sdk131]

$955/year for two adults mid 40's, in Maryland about 40 miles outside of washington DC. 2021 gladiator sport and 2018 subaru outback. Subaru listed at over 12k miles per year, jeep listed as 6,000 miles per year, neithjer listed as a commuter car (work from home). Well above minimum coverage, but all deductibles set at $1,000 and we pay annually in full. Erie Insurance. We also have home and umbrella coverage with them.

 

[Challenger85]

Mines like $90 a month through State Farm for my Mojave.

 

[Lunentucker]

We have everything with Erie. Same agent for 30 years. I'll have to check the rates, but they've been perfect for three decades on the few small claims we've filed.

As far as I know, your credit score is the second biggest price factor, after a safe driving record.

Update from the wife.
$1352/year
2019 Crosstrek
2021 Mojave
62 years old
Both are lower mileage
Credit scores ~850

 

[Escape.idiocracy]

We have everything with Erie. Same agent for 30 years. I'll have to check the rates, but they've been perfect for three decades on the few small claims we've filed.

As far as I know, your credit score is the second biggest price factor, after a safe driving record.

Update from the wife.
$1352/year
2019 Crosstrek
2021 Mojave
62 years old
Both are lower mileage
Credit scores ~850

For what it’s worth- USAA has never pulled a soft or hard credit check for insurance. ??‍

 

[ecidiego]

Geico is consistently the lowest cost of major providers, so I doubt you'll have much luck shopping around. FWIW we pay about 1,000 for a Jeep and a VW Golf. So two Jeeps at 1000 seems about right or even cheap (of course, location playing a huge role).

Oddly, our 2017 Golf with 80k miles on it costs us more for full coverage than the Jeep. The latter I have registered as a non-commuting 2nd vehicle though (golf as commuter).

AAA smoked Geico for me. Mid 40s no record. 30 % higher for Geico. Maybe it's a California thing.

 

[Rusty PW]

I had Erie insurance for a few years until they drop me. The agent I had just decided one day to retired and left everyone hanging. Erie dropped everyone he had.

 

[ShadowsPapa]

Geico is consistently the lowest cost of major providers,

Really? Not what my son and I found out.......... maybe if you "switch" or start out with them, but as my son found, after a while, costs keep going up. He ended up with the same company I've had for decades (it's not always about costs - service, support, etc. are as important to me)

We pay under $2,000 (I think it's about 1800) for my 2022 JT, my wife's 2021 Grand Cherokee, my 1982 SX4 and my 1973 Javelin with "declared value" (I need to get that changed)
But good grief, this is Iowa - not a huge metro area, extremely low risk for thefts or vandalism and so on.

Here we are on yet another insurance thread comparing rates and people fail to keep in mind- location location location, as well as age and OTHER factors.
Bundles count. Accident free counts, we've got at least a half dozen or more "discounts" listed at the bottom of the page every year.
Oh, and location matters. If you live in a big metro area or in some certain states I won't mention for fear of being BANNED, it matters.
Theft rates where you are, accident rates, repair cost rates and STATE laws governing what they must or must not do all matter.

 

[ShadowsPapa]

I am curious, how do they come up with a value for diminished value?

and besides filling out a form, what else do you need to do for that?

You have to do that. You have to prove what it was worth immediately before the accident, and then what it's worth after it's repaired. Good luck with that. III (an insurance institute) says it takes time and usually an attorney. You need to show it's worth less after repairs due to an accident than before the accident. It gets complex at times and can vary with where you live (state) the laws, the court rulings in the past and so on. There is no simple SINGLE answer and yet - look at all of the lawyers here LOL. Each state can be different, and different companies may handle things differently.
Best advice anyone can or SHOULD give is don't ask arm-chair attorneys on the web -find a real attorney.
There, I just ruffled more feathers.

 

[Trailman]

Really? Not what my son and I found out.......... maybe if you "switch" or start out with them, but as my son found, after a while, costs keep going up. He ended up with the same company I've had for decades (it's not always about costs - service, support, etc. are as important to me)

We pay under $2,000 (I think it's about 1800) for my 2022 JT, my wife's 2021 Grand Cherokee, my 1982 SX4 and my 1973 Javelin with "declared value" (I need to get that changed)
But good grief, this is Iowa - not a huge metro area, extremely low risk for thefts or vandalism and so on.

Here we are on yet another insurance thread comparing rates and people fail to keep in mind- location location location, as well as age and OTHER factors.
Bundles count. Accident free counts, we've got at least a half dozen or more "discounts" listed at the bottom of the page every year.
Oh, and location matters. If you live in a big metro area or in some certain states I won't mention for fear of being BANNED, it matters.
Theft rates where you are, accident rates, repair cost rates and STATE laws governing what they must or must not do all matter.

Of course there is variation, which I pointed out. But it is also easy to find out who is on average the cheapest:

https://www.nerdwallet.com/article/insurance/cheapest-car-insurance

 

[Jimko71]

Mid 30’s- $135 a month USAA
22 jtrd 12k miles per year
14 vw tdi sportwagen 40k miles per year

$0 comprehensive
$500 collision

$300k under insurance
Bodily liability $100k/300k
Property $300k
Under insure bodily 100/300
20% vehicle replacement insurance

Yea my son is in the Air Force and dropped GEICO and went with USAA. They were over 50% cheaper then GEICO.

 

[Hootbro]

Just checked my Liberty Mutual policy and it went up about $50 or 6%. Not too terrible.

 

[ColoradoDennis]

With GEICO, it is particularly important to check their list of available discounts and make sure they are being applied to your policy. They are numerous and, to some extent, “stackable.” Eventually, one maxes out on discounts, but it is definitely worth checking the list.

In my case, I’m eligible for a discount through my membership in a social organization, but have never benefited from it because numerous other discounts (good driver, multi-vehicle, etc.) are already in place.

The list of available discounts is here:
https://www.geico.com/save/discounts/car-insurance-discounts/

 

[Lunentucker]

 

[ShadowsPapa]

Of course there is variation, which I pointed out. But it is also easy to find out who is on average the cheapest:

https://www.nerdwallet.com/article/insurance/cheapest-car-insurance

Heck, cheap means so little, I can't see why people bother comparing the cost per year and never bother to give any detail on deductibles, limits of coverage or the fine print.
I know people who went for cheap, and then later when push came to shove, they read their policy after they got stuck for a bill.
People are so stuck on the "cheap" part - yet they cry and kick and scream when there's a cheap part on the shelf - they question the quality - must be made in China and be crap. Insurance, no, they simply look at the annual costs.
There's a reason I'm still with the same company since 1982, and there's a reason my son tried the 2 constantly running ads on TV. He switched back to the same company I'm with after trying the others.
But for those who want cheap - go for it.
I love our coverage, our agent is top-notch (and they tried to fire his father for being TOO HONEST) and they've even stepped up and given me way more than any listed value for a total loss in the past.
Will all other companies do that? I got way over top book value for a WJ years ago - thousands over.

If all that matters is the annual dollars spent - may as well shop HF for everything.
I go for value and service.

Just checked my Liberty Mutual policy and it went up about $50 or 6%. Not too terrible.

They save money on their TV commercials and pass the savings to you

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