We have been with GEICO for approx 10 years, and I have to say that their TV adds and mailers need to be stopped by federal regulators and investigated for dubious inside practices on rate increases on policyholders.
Now we live in NC, and we bought a (used) 2004 GMC pickup last Spring for my small business and this is a bottom line type truck with no power windows or power mirrors, etc. As we sold another vehicle to purchase this one at the time, we kept our Geico insurance in play. However, we just received our new policy renewal statement for January and now our rates are increasing higher.
MY wife called Geico as she worked in insurance for many years as did her father with Prudential, and Geico stated because of our 2004 pickup truck, that they used a statistical analysis program on our make & model pickup truck saying in our region of the country, it places us in a higher risk category owning it as far as being in a potential accident, thus now having to pay even higher annual premiums for it! This is crap! Insurance premiums are supposed to be based on the individual policyholder's risks as far as accidents, driving habits, other offenses, etc as neither myself or my wife has any of these, and my credit score in fact is 155 points higher this year than a year ago even because I paid all of my credit card debts off in full throughout last year... We are low risk people. No tickets, no accidents, no bad credit either.
So you would think we would receive the best rate as our agent told us last year buying this truck, leading us to believe at renewal time our rates then would drop even further, not go higher as they now are...?? Heck they talk of multi policy discounts and this is not true either as we got our fire insurance through them (subsidiary) too and nothing affected our rates. Then they talk of student discounts and last night told my middle aged wife who has been in college the last 4 years she was too old for these discounts and they only applied to students under 24 years of age! Is this not discriminatory when you say "student" it should NOT matter what your age is...?
These adds about "15 minutes could save you 15% or more" are deceptive, as us being long time customers of Geico, have noticed in past of reduced customer service efficiency and problems even with info on our policies and such we had to constantly go after them to correct properly. Already our odler two sons who were with Geico originally because of first being tied to our family plan when first driving, and now on their own, went elsewhere too after they started to receive higher rates for no real reason as we now are.
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