Their insurance rates are phenomenal.
A few things that may effect differences in INS Rates:
A bad credit score directly affects your insurance score, also if you have anything in chexsytems and such that figures into it as well, insurance scores are based off whats in your credit profile, then whats in your insurance file which can be found in Lexisnexis which will have figured in whats in chexsystems. Then, its based on your driving record, and all of that encompasses your insurance score which then negates your rates.
Second, Geico is pretty much Insurance in name only, kind of like The General, Geico is Number 18 on the Bad Faith Insurance List and The General isnt even on there. More than likely they are Non-Standard Insurance Based. Google that. Basically, with rates that low one must know somewhere deep down it is a payment for proof of insurance, not actually for insurance. However higher rates also does not depict good faith insurance either.
I have had Insurance with a several of Insurance companies that just would not pay leaving me high and dry, and it is a complete waste of an investment.
Allstate (#1 Bad Faith Insurance Rating)-1999 200$ Mo
Full coverage insurance on a 1991 Ford Exploder. 200$ mo back in 1999. This vehicle had 2 car fires(#1 Ignition fire that had less than 1000$ damage. Second caught fire while I was driving on the freeway) with the second one totaling and stranding me 500 Miles from home. First said they would take care of everything, then stuck me with the bill a week later. I had to settle with the finance company a month later for less than the balance due, another 5K to pay off this vehicle that was financed for 10K. Out of a way to work and out 5K for money left paid on the vehicle and still no transportation.
Progressive Insurance(#21 Bad Faith Insurance) 2002 120$ mo
I had insurance with them PLPD Uninsured Motorists coverage,underinsurance Motorist Coverage. I lived in college housing. My Truck was hit in the middle of the night when i was asleep, my roommates were coming home from the bar downtown. There were 7 of them, they all saw it happen, police came made a report and I picked it up the next day. I called my INS Company, they said to send in the report and they would cover it. I sent it in and they denied coverage saying i had to find the uninsured motorist and then let them know where this person lives.
Blue Cross Blue Sheild PPO-2003 150$ Mo (#27 Bad Faith Insurance)
6K OOP/1KDD/35$ Co-Pay
Refused to pay all costs associated with my pregnancy . Left me with a 218K Bill that I filed BK over 2 years later.
In every instance, awareness of the reputation of the insurer would have a made a difference in the outcome of the situation. Also understanding how the industry works regarding INS.
People pay insurance not just for the proof on paper, but for actual coverage when you need it. People pay insurance in good faith that if it is needed to make a claim against- the company will pay. USAA is actual insurance. They are listed as 48 on the Good Faith List. Amica is number 1. So how I see it is we are on the better side of the odds with them. Compare USAA to say AA or Allstate quotes and you will get a better picture of where they stand in rates.
Some of these things may apply maybe not, but at the very least maybe you can factor in some of these things as possibilities. Good Luck.
