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Geico premium decrease!

New Member

Geico premium decrease!

On advise of a friend I called esurance to get a car insurance quote...the quoted a monthly premium of $123 saving me approx $50/month....i then called geico to cancel they transfered me to a retention specialist that then quoted a monthly premium of approximately $60! I was astonished, all coverages are all the same for all figures...i then asked why the huge difference and he said illinois recently changed some laws about how insurance companies can quote you and for a lot of people out saves money...you have to call and inquire about the new way of quoting to be eligible......anyone else have a similar experience lately? I kinda feel like geico bamboozled me a little.....
23 REPLIES
Contributor

Re: Geico premium decrease!

thanks for posting this! I'm gonna give this a try later this week.



I'll be in the garden... FICO Score | TU-08: 732 in May 2013
New Member

Re: Geico premium decrease!

Old monthly payment - 173.15
New monthly payment - 64.12

Full coverage on 2011 chevy aveo, minimum coverage on 2003 ford focus...
Frequent Contributor

Re: Geico premium decrease!

Way to go i tried to get geico to reduce my rate when I got a quote from state farm from half the price . Geico wouldn't reduce them at all. Glad it worked out for you I really liked them.
New Member

Re: Geico premium decrease!

Maybe someone with an insurance background could explain the wild variations in quoted monthly premiums....
Epic Contributor

Re: Geico premium decrease!

Getting information on how you are rated for insurance is about as likely as finding out how your FICO score is calculated.

 

GEICO has always been about $50 a month higher for me than USAA.  However, after I had them for about 4 months my premium dropped to half.  I thought it was a mistake and called them and they told me no, it was accurate.  Something about the length of time I had had insurance with them.

 

 

Regular Contributor

Re: Geico premium decrease!

Yes that si true.

I used to pay 135 dollars a month for full.

Now I pay 85.

 



"Its your AAoA, Sir. It seems, Sir, that it is so short that i dont think it would hurt for it to get a little shorter"
Frequent Contributor

Re: Geico premium decrease!


guiness56 wrote:

Getting information on how you are rated for insurance is about as likely as finding out how your FICO score is calculated.

 

GEICO has always been about $50 a month higher for me than USAA.  However, after I had them for about 4 months my premium dropped to half.  I thought it was a mistake and called them and they told me no, it was accurate.  Something about the length of time I had had insurance with them.

 

 


Bahahaha!

Sounds like I might need to switch to GEICO....

2/16/13 Scores EX: 594, TU:513, EQ:563 -- Cap One Secured: $200, Kay's: $400

GOAL #1: 625 -- CHECK!

3/31/15 Scores TU: 621 -- Cap One Secured: $750, Kay's: $900, CareCredit: $1000, Aerie $350, Fingerhut $1350

Goal #2: A travel card. REC ME!
Epic Contributor

Re: Geico premium decrease!

Highlighted
Frequent Contributor

Re: Geico premium decrease!

Negative. I'm not paying a crazy amount anyhow, but less is always better!
2/16/13 Scores EX: 594, TU:513, EQ:563 -- Cap One Secured: $200, Kay's: $400

GOAL #1: 625 -- CHECK!

3/31/15 Scores TU: 621 -- Cap One Secured: $750, Kay's: $900, CareCredit: $1000, Aerie $350, Fingerhut $1350

Goal #2: A travel card. REC ME!