Significant increase in collison coverage (Geico)?

[tzhu07]

I just got a notice from Geico that it's renewal time.

I looked at the new policy details, and while everything else had little to no increase, the collison coverage went up by 38% from 6 months ago. My circumstances haven't changed. No tickets, no claims, etc.

I live in the Seattle area.

Has anyone else whose renewal time is around the August/Sept timeframe seen the same increase?

[WhiteFRS69]

in july my insurance with Geico went up, didnt see the reason why, no points, one minor accident (not at fault)

i actually did a defensive driving course thinking it would decrease my insurance, but in July when it was time for my policy to renew itself, i noticed my insurance stayed the same, when i looked into it. it actually increaded but with the defensive driving course i took, the discount i got for it took care of the spike

with Geico, its actually cheaper for me to have 2 cars on the policy than it is for just one (same with every other insurance company i have looked into)

pay 125 per month, 25 years old, no points, no accidents

[tzhu07]

I've heard about these defense driving discounts. Unfortunately, Geico doesn't offer the discount in Washington state for people under 50 years of age.

People with Geico can check here:
https://www.geico.com/information/di...ver-discounts/

[WhiteFRS69]

Originally Posted by tzhu07

I've heard about these defense driving discounts. Unfortunately, Geico doesn't offer the discount in Washington state for people under 50 years of age.

People with Geico can check here:
https://www.geico.com/information/di...ver-discounts/

damn.... geico offers a driving course for 19.95... the one i took was 39.99

[soulreapersteve]

Originally Posted by tzhu07

I've heard about these defense driving discounts. Unfortunately, Geico doesn't offer the discount in Washington state for people under 50 years of age.

People with Geico can check here:
https://www.geico.com/information/di...ver-discounts/

Same here with State Farm... I asked and lady said "You have to be as old as me to qualify"

-_-

[WhiteFRS69]

Originally Posted by soulreapersteve

Same here with State Farm... I asked and lady said "You have to be as old as me to qualify"

-_-

damn, my neighbor who is 17, already took a defensive driving course to help take care of a reckless driving ticket he got aka... he was driving at dusk with just his fog lights on... no headlights....

wonderful cops we have today!

[PNW FRS]

As the number of claims increases (theft, crash, etc.) and statistical data about moving violations (e.g., speeding), the industry rating of the 86 has been changing enough to have most insurance companies increase their rates. I have State Farm and have also seen a minor increase over the last year.

Geographically... being down in Olympia (more rural) equates to not a big an increase as one would see in more metropolitan areas like Tacoma or Seattle.

[Pickleahoy]

http://www.insurancejournal.com/news.../04/366720.htm

Guess they finally did it

[Tcoat]

Originally Posted by Pickleahoy

http://www.insurancejournal.com/news.../04/366720.htm

Guess they finally did it

Well done!

So not specific to the 86 but across the board. Now that little gecko will be even more annoying to see.

[Impureclient]

They are increasing rates because their profit needs to be higher. Says so in the article Pickleahoy referenced to. Do like I did when they do that and kick them to the curb. I switched from Progressive to a smaller company that doesn't have a billion dollar a year advertising and now I have all three of my vehicles covered for about what Progressive had me paying for just one. I bought a car new and for 15 years, my monthly charges stayed the same. Not having any accidents or tickets or the fact that the first car was 15 years older as was I and the monthly charge stayed the same and actually crept up made me say enough is enough. Also, there is no magical age of 25 or 30, when your insurance rates drop as I can testify for.

Edit- Directly quoted by a poster who works in insurance from that article which proves my point about unnecessary increases

"The new watchwords in our industry is “Price Optimization”. It works like this. Take a loyal, long term customer with no claims, pays their bill promptly and give them a rate increase and hope it is not so high that the customer leaves. Then, you write someone new that you know nothing about and give them better rates to put them on the books. Allstate has been doing that for a while now and I would imagine many other carriers as well. That is how actuaries think and it is abominable."

[Tcoat]

Originally Posted by Impureclient

They are increasing rates because their profit needs to be higher. Says so in the article Pickleahoy referenced to. Do like I did when they do that and kick them to the curb. I switched from Progressive to a smaller company that doesn't have a billion dollar a year advertising and now I have all three of my vehicles covered for about what Progressive had me paying for just one. I bought a car new and for 15 years, my monthly charges stayed the same. Not having any accidents or tickets or the fact that the first car was 15 years older as was I and the monthly charge stayed the same and actually crept up made me say enough is enough. Also, there is no magical age of 25 or 30, when your insurance rates drop as I can testify for.

Edit- Directly quoted by a poster who works in insurance from that article which proves my point about unnecessary increases

"The new watchwords in our industry is “Price Optimization”. It works like this. Take a loyal, long term customer with no claims, pays their bill promptly and give them a rate increase and hope it is not so high that the customer leaves. Then, you write someone new that you know nothing about and give them better rates to put them on the books. Allstate has been doing that for a while now and I would imagine many other carriers as well. That is how actuaries think and it is abominable."

I gotta ask! What car did you keep for 15 years? I can not totally comprehend such a concept.

[Impureclient]

1999 Cavalier Z24 with 110K miles, it's my sons now. It's in the garage parked right now next to the FR-S! Actually 16.5 years, bought it on Feb of 99.
Tranny went at 75k, motor went at 85k, second used motor lasted a year, 3rd used motor lasted a year and the 4th went in a couple months ago and I said "done" and it was time for a new car(FR-S) and he also just got his license.
He went from sitting in the back seat of it in a baby carseat to actually making it go vroom.

[Tcoat]

Originally Posted by Impureclient

1999 Cavalier Z24 with 110K miles, it's my sons now. It's in the garage parked right now next to the FR-S! Actually 16.5 years, bought it on Feb of 99.
Tranny went at 75k, motor went at 85k, second used motor lasted a year, 3rd used motor lasted a year and the 4th went in a couple months ago and I said "done" and it was time for a new car(FR-S) and he also just got his license.
He went from sitting in the back seat of it in a baby carseat to actually making it go vroom.

There are a shit load of those things still on the road around here. Most are riced beyond recognition but still on the road. They were a good car though.
Love the 110k miles since I will break that in a little under 3 years.

[Dadhawk]

Originally Posted by Tcoat

I gotta ask! What car did you keep for 15 years? I can not totally comprehend such a concept.

I haven't quite made it 15 years yet, but I have had two cars I kept (and DD) for right at 12 years each. I had an 1989 Chevy Astro (dealer demo car, had 3,000 miles on it) I drove until 2001 (250,000 miles) that was replaced with a 2000 Chevy Astro (purchased with 16,000 miles at just slightly above half the price of a new one) until 2012 (289,000 miles).

I owned other cars during that time, but those were the family and commuting cars.

Maybe I'll make 15 years with the FR-S. 3 down, 12 to go!