Increased insurance rates? (GEICO)
 

Has anybody else had their rates increase recently? Mine went up considerably recently, despite the fact that I just turned 30. I called GEICO, and they said the car had been reclassified or something. So my personal rate actually went down because of turning 30, but the car went up so much, I now pay almost $200 more every 6 months.

Anyone else with or without GEICO see the same. I'm going to shop around when I'm up for renewal this fall.

Mine went up significantly, so I switched to USAA. I'm paying 10 bucks more per month, but Im getting way better coverage. I'm 24 Male

GEICO has been raising rates across the board for quite a while now. There are probably 10 threads on it. Saying the car was "reclassified" is bullshit since they are doing it to everybody not just Twins. They did it this time last year as well.

Last year - http://www.insurancejournal.com/news.../04/366720.htm

This year - http://www.ibamag.com/news/buffett-t...ses-28822.aspx

The killer quote from the article is this (also shows it is not that your car was "reclassified"):
"The company’s underwriting profit dropped from 2014’s $1.16 billion to $460 million in 2015."

yeah mine also went up, around $30 more per month, I'm turning 31 this year too, no tickets or accidents either.

My rates haven't changed for at least last two years, or maybe by a buck or two a month. Nothing significant. They have changed a bit just now but only because I adjusted coverage.

There are dozens of write ups on the subject so not sure how you have escaped.

http://www.dumpaday.com/wp-content/u...-soon-meme.jpg

Mines in for a comprehensive repair right now. I bet I'm gonna get loved tenderly next renewal.

Just checked... My annual went up $~215 dollars. Talked to Insurance agent (Father) about it. Insurance companies brought in only half the revenue in 2015 in comparison to 2014. Because of this rates went up for all vehicles for specific insurance companies -- Has nothing to do with the individual cars.

That's guys. I thought I would have heard something if it was the car specifically.

I just switched to Progressive from whatever one I had before(some cheap company or so I thought) and my rate was cut to less than half of what I was paying before for 3 vehicles.
$1200 every 6 months to $550. It's a good idea to shop your insurance rates frequently.

Shop insurance rates every 2-3 years. You may be in for a surprise.

Loyalty doesn't pay and for some lines, like house insurance, the providers have access to your claims history which influences your rate.

Alot of this can point to a lazy agent to. I used to bounce around alot then I got with state farm and with my agent every time I have shopped around (once a year for the last 3 years) they have been the lowest by a wide margin.

I got the same bullshit from Geico today after i saw my new renewal policy for the next 6 months. So instead of paying 160$ per month, i'll be paying 162$ per month. As per Geico, they say that the car is lister as 'performance' (LOL) and if something happens to the car, it cost more to repair.

Only $2 a month more? That's not bad.