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skew
LIF Adult
Member since 5/05 6794 total posts
Name:
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Changing Auto Insurance - $800 difference. Too good to be true?
I have been quote shopping for auto insurance. I currently pay $1,800 ~ p/yr (Travelers) and was quoted $1,000 ~ p/yr from Geico for the SAME coverage. Too good to be true and there is a catch later down the road or am I seriously WAY over paying for current policy?
I also received a $1,500~ p/yr quote from Progressive for same coverage.
ETA: Credit score is top tier and have totally clean record so received max discounts
Message edited 10/5/2015 6:21:07 PM.
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Posted 10/5/15 6:18 PM  |
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DaniJude
You're My Home <3
Member since 11/06 14815 total posts
Name:
Danielle
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
Same thing just happened to me.
Had State Farm. Got a quote from Geico and I went from paying $140 a month to $85 a month for the SAME COVERAGE. Crazy. I'm super happy lol!
Switched in June :)
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| Posted 10/5/15 6:21 PM |
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mrsboss
my little love
Member since 12/09 5054 total posts
Name:
Me
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Changing Auto Insurance - $800 difference. Too good to be true?
You're overpaying now. Rates are very competitive, so if you're getting the exact same coverage and same deductible, go for it.
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| Posted 10/5/15 7:19 PM |
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JDubs
different, not less
Member since 7/09 13160 total posts
Name:
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
I just did the opposite. Geico kept raising my rates every 6 months, I went through a broker and switched to travelers and saving $600 a year
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| Posted 10/5/15 7:25 PM |
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longislemom
LIF Adult
Member since 8/06 912 total posts
Name:
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
Nope. No catch. I switch to GEICO from AllState and saved $650, that was 2 years ago and no rate increases. In fact my premiums went down a little..
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| Posted 10/5/15 8:11 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
It's true. Geico is phenomenal and so much less than other companies, they can't beat it. And you get great service too.
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| Posted 10/5/15 8:23 PM |
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BargainMama
LIF Adult
Member since 5/09 15660 total posts
Name:
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
Posted by JDubs
I just did the opposite. Geico kept raising my rates every 6 months, I went through a broker and switched to travelers and saving $600 a year
I need to switch, they raise me every year also, and I have zero tickets or accidents.
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| Posted 10/5/15 8:29 PM |
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ppm80
LIF Infant
Member since 9/09 336 total posts
Name:
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Changing Auto Insurance - $800 difference. Too good to be true?
I switched from State Farm to Allstate for our two cars a several years ago and we saved almost $1,400 a year for the same coverage, even though State Farm was giving us a lot of discounts! Allstate has barely raised our rates.
Message edited 10/5/2015 9:06:27 PM.
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| Posted 10/5/15 9:05 PM |
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MrsB12614
LIF Adult
Member since 4/14 1986 total posts
Name:
Mrs
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Changing Auto Insurance - $800 difference. Too good to be true?
We just switched from geico to Allstate saving ourselves $1900 a year with even better coverage. Our rates kept going up for no reason with geico
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| Posted 10/5/15 9:05 PM |
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BsMomma2014
Fly high little one
Member since 6/10 2662 total posts
Name:
nicole
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Changing Auto Insurance - $800 difference. Too good to be true?
It is definitely possible. Just triple compare both policies side by side to make sure you are getting everything the same. Make sure if you had these options that they are still there: your glass is covered, original parts are covered in case of an accident, loss of use in case you need a rental if you are in an accident eye. Sometimes those "smaller" coverages get forgotten or overlooked to save you money.
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| Posted 10/6/15 6:48 AM |
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skew
LIF Adult
Member since 5/05 6794 total posts
Name:
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
Thanks for all the replies.
MrsV - When I spoke to the Geico agent we compared and matched my current coverage line by line. The only thing we changed was the collision deductible from the current $1,000 to $500.
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| Posted 10/6/15 9:16 AM |
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busymomonli
Resident Insomniac
Member since 4/13 2052 total posts
Name:
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Changing Auto Insurance - $800 difference. Too good to be true?
I just switched from State Farm to Progressive and the savings was about $1200 for both cars. The only downside is that the homeowners rate was still much lower with state farm, so I left that policy there. Since I did that, I lost the "multi-policy discount" and my homeowners went up by $300. Still an overall savings of $900.
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| Posted 10/6/15 9:35 AM |
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ineedababynow
LIF Infant
Member since 9/15 328 total posts
Name:
ap
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
Travelers is THE MOST expensive out there. I saved over $50/month switching to Geico. so I'll say do it.
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| Posted 10/6/15 9:56 AM |
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ineedababynow
LIF Infant
Member since 9/15 328 total posts
Name:
ap
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
Posted by skew
Thanks for all the replies.
MrsV - When I spoke to the Geico agent we compared and matched my current coverage line by line. The only thing we changed was the collision deductible from the current $1,000 to $500.
Being that you have a lower deductible, your insurance essentially went up from what it would be with a $1,000 deductible.
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| Posted 10/6/15 9:57 AM |
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DaniJude
You're My Home <3
Member since 11/06 14815 total posts
Name:
Danielle
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
Posted by JDubs
I just did the opposite. Geico kept raising my rates every 6 months, I went through a broker and switched to travelers and saving $600 a year
Funny - same here years back.
I was with Geico from the moment I got my license until I was like 28 or so.
No accidents. No tickets. Spotless record.
They just started raising me.
I was like eff this noise. I switched.
IMMEDIATELY they started sending me "back come back"  mailings. I was too stubborn and annoyed at them for the fact that I had to switch to begin with. Stayed with State Farm for a few years and then BAM - they started to do the raise my rate game. So, that's when I called Geico and we "got back together"
It's annoying to have to play the sign up for a bit, then switch, then go back game but it saves money. I do the same thing with cable and verizon 
I'm sure in a few months or so you'll be getting letters from Geico begging for your business back and promising you low rates.
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| Posted 10/6/15 10:24 AM |
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skew
LIF Adult
Member since 5/05 6794 total posts
Name:
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
Posted by ineedababynow
Posted by skew
Thanks for all the replies.
MrsV - When I spoke to the Geico agent we compared and matched my current coverage line by line. The only thing we changed was the collision deductible from the current $1,000 to $500.
Being that you have a lower deductible, your insurance essentially went up from what it would be with a $1,000 deductible.
Collision, yes. However, overall it is still $800 less than my current policy.
Message edited 10/6/2015 10:35:27 AM.
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| Posted 10/6/15 10:33 AM |
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skew
LIF Adult
Member since 5/05 6794 total posts
Name:
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
Oh and I have been a loyal Travelers customer for 10 years (home, umbrella and auto). No claims filed, bills always paid on time and in full but was dropped last year from HO and umbrella this year.
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| Posted 10/6/15 10:44 AM |
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DaniJude
You're My Home <3
Member since 11/06 14815 total posts
Name:
Danielle
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
Posted by skew
Oh and I have been a loyal Travelers customer for 10 years (home, umbrella and auto). No claims filed, bills always paid on time and in full but was dropped last year from HO and umbrella this year.
Exactly!
It's such horse!!
WTF?!
Why they do this shit, I'll never understand.
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| Posted 10/6/15 10:48 AM |
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soontobemommyof2
My boys...my everything <3
Member since 4/15 3635 total posts
Name:
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
I'd say go for it, just make sure that you're covered for the same things. I was paying $380 a month with nationwide and then decided to switch insurances, my best quote was with State Farm, now I'm paying $212 a month.
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| Posted 10/6/15 11:24 AM |
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skew
LIF Adult
Member since 5/05 6794 total posts
Name:
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
I feel like we are at their mercy and it sucks. Was dropped from HO due to the underground oil tank and pool.
I know many companies won't write a new policy if an oil tank isn't abandoned but again this was an existing policy and wasn't an issue for 10 years. Then one day....BAM.... "thanks for being such an awesome customer for 10 years. to show our gratitude and appreciation, we are dropping you!"
Message edited 10/6/2015 11:36:22 AM.
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| Posted 10/6/15 11:30 AM |
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
I work for one of the insurance companies named in this thread. I have my auto/homeowners bundled with them and as a current employee with the standard 10% discount or whatever it is, I still get sacked with at least 2-5% increases in my rate every year.
Every ins company plays this game and I agree its terrible. My parents have switched auto ins companies every 2 years for this reason -GEICO usually has the cheapest rates but even if you are with them for more than 2-3 years, you will end up paying more than if you switched to another company as a new customer.
Just like cable companies are doing now when you sign on for Triple Play Cable/TV/phone service and your rates skyrocket after 2 years, you end up switching to FIOS only to find yourself jumping back again for better rates w/ cable. Its such a racket.
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| Posted 10/6/15 11:41 AM |
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
Posted by DaniJude
Posted by skew
Oh and I have been a loyal Travelers customer for 10 years (home, umbrella and auto). No claims filed, bills always paid on time and in full but was dropped last year from HO and umbrella this year.
Exactly!
It's such horse!!
WTF?!
Why they do this shit, I'll never understand.
Because there is no loyalty in the insurance industry unfortunately. Insurance companies, like any other major corporation, only care about the bottom line (Profit) and part of calculating that profit is how many NEW policies they issue in a specific year/quarter. The insurance industry is extremely competitive and the Liberty Mutuals, State Farms, Progressives, eSurance/Allstates, Travelers, GEICOs, of the country are in constant war with each other to attract the lowest risk customers by teasing them with lower rates. This is why you see so many companies offering different discounts and rates to different people. They all want to boast about having xxx,000 new customers instead of focusing on keeping the ones they already have happy.
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| Posted 10/6/15 11:45 AM |
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dctead
It's 5 o'clock somewhere!
Member since 11/10 2139 total posts
Name:
Emily
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
I've been with Geico since I've had a license and insurance (24 years) and I've never had any major increases. Sure, my ins would fluctuate when I got new cars or my leases - sometimes up and sometimes down but its always been reasonable to me.
I every few years I try and quote out new insurance and what I'm paying is always lower than any other company out there.
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| Posted 10/6/15 11:46 AM |
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BsMomma2014
Fly high little one
Member since 6/10 2662 total posts
Name:
nicole
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Re: Changing Auto Insurance - $800 difference. Too good to be true?
Posted by skew
Thanks for all the replies.
MrsV - When I spoke to the Geico agent we compared and matched my current coverage line by line. The only thing we changed was the collision deductible from the current $1,000 to $500.
Then you should go for it. I work in insurance and usually when I see people switch those coverages I mentioned are the first to go. Just wanted to make sure you didn't get stuck or something. Enjoy the extra money in your pocket
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| Posted 10/6/15 1:18 PM |
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Mrs&MrsK
i need sleep ;-)
Member since 2/14 2008 total posts
Name:
L
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Changing Auto Insurance - $800 difference. Too good to be true?
i had geico forever (15 yrs). i asked them PLEASE adjust to what state farm gave me (not even including the multi policy discount) they wouldnt. i left them
that being said, geico was a good company and their rates usually are that much cheaper!
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| Posted 10/7/15 2:00 PM |
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