I feel like Geico pulled a bait and switch on me. When I first signed up with Geico They offered me a $400 annual savings on the same coverage I had with my other auto insurance provider. This year when my policy renewed I was given a huge rate increase despite no claims or tickets that could justify a rate increase. I called Geico and was told it was mainly the State I am in that resulted in the rate increase.
So out of curiosity I called the 800# for my prior insurance company and asked for a quote for the same coverage. Low and behold the quote is $774 less per year than Geico for the same period. That's a huge chunk of change for insurance differences.
Now I could understand if the difference wasn't that much, say a hundred dollars or so, but this is a significant difference. I feel Geico is bilking it's customers and whether or not that's the case, I feel I was the victim of a bait and switch. Geico must think people won't want to go through the hassle again of switching insurance companies. Well for $774, I took the time to change. Goodbye Geico.
In all states except for California, insurance filings have to be public. You can contact the insurance department for your state and can see GEICO's rating plan at the time that you first got your policy and at the time that you tried to renew. I'm sure that you will find that you were a victim of bad timing and not malicious business practices by GEICO. Please inform this board (and your insurance department) if you find differently.
I hate tight asses like you. "I need more information", "document that" "show me the link" You are a douche bag. I hope you go broke. Let the man tell his tale. I bet your wife loves your asking for every detail and proof.. "I wont xxx in your mouth" show her the proof.
Goood luck investing
Sounds like you need to change insurance conpanies every year, taking the lowest quote that you can get. There's no loyalty in surance companies to you, so why should you feel any to them?
Low bid wins!
That's capitalism for you. You are free to go elsewhere if price is the biggest concern to you. But myself, I don't mind paying a little more for an insurance company I can trust.
And yes, I agree with you that customer experiences should be important to owners of a company.
Thanks for the concern. I have discussed it with Geico who basically shrugged their shoulder as if saying take it or leave it...
I think it's quite appropriate to share my experience here since Geico is, after all, part of the BRK family of businesses. Is that not correct? I would think that those who invest in stocks, as I do, would welcome a dialogue of actual experiences - and not shun it away.