Did Geico Ins raise your rates after the first year?

Question

I have State Farm now, and thinking of getting a quote from Geico. But I'm curious if they'll give me a low rate now, then raise it next renewal.

Answer 1

I've had Geico car insurance for a year and a half. After saving me 27% from the rate I was paying my previous insurance company, they did not raise my rates for the first two 6-month renewals. I just renewed my policy for another 6 months, and my rate went down by $17.

Answer 2

There's no telling. It's really easy to say that you left a company because they raised and raised and raised your rates, but no one ever says if they found out why. Sometimes people move, which changes the rate if you go into a higher risk area. Sometimes you change your coverage and that changes your rate. It could be anything. Insurance companies don't regularly adjust rates higher "across the board" without a really good reason. That might happen in a place like New Jersey where for many years a lot of the big companies would not write policies there. Well, in the past two years they have all started writing there, and I'm sure they hope that they are charging the right premiums for the risks, but sometimes after claims come in and they learn more about the other factors in the state they could find that they are losing money there because they didn't have a handle on the right rate for the risk. It doesn't happen much now as it's a pretty exact science, but make sure that you know why the rate went up and don't just get your bill and switch companies. You may find if it's widespread it's an industry-wide increase.

And, let's not forget, sometimes people don't tell the truth when they get a policy and later the company finds out about that other accident or ticket or something and should have been charging more. But you wouldn't do something like that, right?

Answer 3

I'm no longer with GEICO but when I was with them for a number of years. The first few years my rates actually dropped as I got older and my driving record improved. I was moving quite often in those days so it's hard to say beyond that as insurance rates are based upon location among other factors.

Answer 4

they probably will ,,they did a friend of mine this way and since he drooped the other company he was with ,,now they wont take him back either,,so he is screwed both ways,,on this deal,they raised his 125 dollars more every 6 months,,for no reason,,and they did it after only 9 months,,they said it was a increase everyone got,,not so,, he,s really sorry he left his sold company,,he had insurance with them for 15 years,,and they wont even consider taking him back,so now he,s stuck,,id think it over if i was you,,you could wind up the same way,,if your not real care full,,good luck,,i hope this help,s

Answer 5

I have asked the same question 4 times, and didn't receive a good answer

Answer 6

Yeah it might be correct