Hello, I am shopping around for insurance as I am about to get my model S in 3 weeks. I received a quote from Geico that is $450 cheaper for 6 month premium compared to my current insurance company. However, I read the Geico doesn't use original factory parts when there is need for replacement. So would like to hear what you guys think about this. Do Tesla after the market parts even exist out there? Thank you.
Does anyone use Geico insurance
- Thread starter happycamper
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jeffro01
Active Member
Yep, been with them for years. Have had two claims over that 10+ year time period. One was a no-fault, the other was an at-fault and both times Geico did a fantastic job from start to finish.
Jeff
Jeff
I also have Geico insurance and recently had a collision. They definitely are using original parts for my repair.
I'm also with Geico. Haven't had any claims thus far with my Model S but had a total loss on an Acura last year and they were phenomenal start to finish.
TaoJones
Beyond Driven
I did. For about a day until reading about the fellow that wrapped his P around a tree after encountering the ol' wet leaves around a curve. Geico paid his monster claim of about $113K for a 4-month old car that cost $111K plus $6K in aftermarket receipts. Great advice in that thread, btw, about getting the car home pronto and how estimates were done on the flatbed (Tesla first, then body shop, then Tesla again) - it was about $110K in damage if I remember right - $30K mechanical, $40K body shop, then $40K as the battery got jacked up as well.
Anyway, the point was that Geico paid this monster claim in 25 days. I reasoned that rates, they would be going up with a quicknezz for all Tesla owners similarly insured at least in that region. And sure enough, they did.
So I left Geico very early on for Costco Ameriprise, only to see my rate almost double when I sold my ICE (dropping from 2 cars to 1 and thus losing the 45% multi-car discount), and then on to Wawanesa - which has been fine although no claims filed yet and of course hopefully ever.
When I did file a claim for a hit and run with a previous Volvo, with Geico, aside from delaying for 90 days in case the responsible party magically decided to pay up (it didn't), I have no complaint with the check the adjuster wrote me on the spot in my office's parking lot.
Geico, Costco Ameriprise, and Wawanesa's quotes were within $75 of each other and were the 3 best. AAA was absurd, with the collision portion alone exceeding the aforementioned 3 complete quotes by DOUBLE. If you want stated value coverage (which means that in the case of a total loss, the company cuts you a check for the purchase price (stated value) of your car), I found Allstate and Chubb to be within $1,000 of each other - both quotes were 2.5x higher, mas o menos than a "regular" policy. At that point, self-insuring against the depreciation almost makes sense, but not really - it's all about your level of risk, I suppose. Note that Liberty Mutual has that sketchy New Car Replacement gimmick which is sort of like a limited stated value policy - but there's a mileage restriction and who knows what else in the fine print. Lastly, I think both Geico and Costco Ameriprise had gap coverage for 2-3 years - can't remember those details atm tho.
Anyway, the point was that Geico paid this monster claim in 25 days. I reasoned that rates, they would be going up with a quicknezz for all Tesla owners similarly insured at least in that region. And sure enough, they did.
So I left Geico very early on for Costco Ameriprise, only to see my rate almost double when I sold my ICE (dropping from 2 cars to 1 and thus losing the 45% multi-car discount), and then on to Wawanesa - which has been fine although no claims filed yet and of course hopefully ever.
When I did file a claim for a hit and run with a previous Volvo, with Geico, aside from delaying for 90 days in case the responsible party magically decided to pay up (it didn't), I have no complaint with the check the adjuster wrote me on the spot in my office's parking lot.
Geico, Costco Ameriprise, and Wawanesa's quotes were within $75 of each other and were the 3 best. AAA was absurd, with the collision portion alone exceeding the aforementioned 3 complete quotes by DOUBLE. If you want stated value coverage (which means that in the case of a total loss, the company cuts you a check for the purchase price (stated value) of your car), I found Allstate and Chubb to be within $1,000 of each other - both quotes were 2.5x higher, mas o menos than a "regular" policy. At that point, self-insuring against the depreciation almost makes sense, but not really - it's all about your level of risk, I suppose. Note that Liberty Mutual has that sketchy New Car Replacement gimmick which is sort of like a limited stated value policy - but there's a mileage restriction and who knows what else in the fine print. Lastly, I think both Geico and Costco Ameriprise had gap coverage for 2-3 years - can't remember those details atm tho.
Plan B
Active Member
I had Geico as well until they doubled my rate because of all the high payout claims they have had with Tesla's.
I moved to Nationwide.
I moved to Nationwide.
Gizmotoy
Active Member
I shopped around with all the usual nationwide firms. I'd been with Progressive for a decade, but they wanted a huge amount for the Tesla, ultimately 2x what GEICO wanted. State Farm, essentially asserting they had no interest in my business, wanted 3.5x GEICO. The others fell in between GEICO and Progressive.
So I don't know if it's as true as it was 3 years ago, but shop around. Get quotes from everyone, and then decide. It's a pain in the rear, but the insurance companies are pretty uneasy still on the Teslas.
I haven't had a claim with GEICO so I can't comment on how happy I am with them. They accept my checks, and that's pretty much all they've done. Note that they DON'T have an OEM Parts rider, but we don't really have to worry about that with the Model S yet. Might apply to your other vehicles, though.
That said, I essentially replaced a Civic with the Model S, doubled my coverage, and still ended up decreasing my auto insurance cost slightly, so I'm pretty happy.
So I don't know if it's as true as it was 3 years ago, but shop around. Get quotes from everyone, and then decide. It's a pain in the rear, but the insurance companies are pretty uneasy still on the Teslas.
I haven't had a claim with GEICO so I can't comment on how happy I am with them. They accept my checks, and that's pretty much all they've done. Note that they DON'T have an OEM Parts rider, but we don't really have to worry about that with the Model S yet. Might apply to your other vehicles, though.
That said, I essentially replaced a Civic with the Model S, doubled my coverage, and still ended up decreasing my auto insurance cost slightly, so I'm pretty happy.
This is timely - I just got quotes from MetroMile, Geico, Wawanesa, Allstate and StateFarm. Geico and Wawa were the lowest. Geico was easiest and had best overall coverage (and had the Tesla in their system - Wawanesa didn't).
Think I'm going with Geico.
MetroMile has been good for me, but their highest coverage doesn't cover the lease minimums Tesla requires. And it would be about $30/mo more.
Think I'm going with Geico.
MetroMile has been good for me, but their highest coverage doesn't cover the lease minimums Tesla requires. And it would be about $30/mo more.
TMobe
I have forgotten more than I remember
I have had Wananesa for 5 years and for my Model S for a year. I am surprised to hear they didn't have the Model S in their system. I have also considered changing to Geico since they seem easier to get a hold of. I have had no claims with Wawanesa.
Dr. Pete
Member
I have GEICO insurance, and it has always proved less expensive than its competitors whenever I have done comparisons, however not ridiculously less (i.e., not in the too-good-to-be-true category). I have not had a claim, so I can't comment about OEM parts. I would draw your attention to your legal right to choose your own repair shop, and that choice is dictated by the limited shops approved by Tesla. I'm sure a Tesla-approved shop would use original factory parts.
NikeWings
Active Member
I just secured a Geico polcy for pending 90D. No other policies with them and it was still a few hundred less than Progressive per 6 month term. So simple too.....a few clicks and boom, i had a policy. All other policies (houses, cars, umbrella) are with Chubb and even with a multi-policy discount, they were almost $1000 higher.
Bridor
Member
Geico is more expensive than Costco Ameriprise for me. I love Ameriprise and they have taken great care of me for many years. They also have much better coverages than Geico, so you get a better bargain in my opinion. If you are an Executive Member like me, you also get free road side assistance (which is not needed in the Tesla, but perhaps you have other vehicles).
Brent
Brent
Costco Ameriprise doesn't show Tesla on their list of automakers. How did you get around that? Did you call them.
wdolson
Well-Known Member
I'm currently shopping for insurance too. So far Amica wasn't too bad (we have our homeowners through them), but Safeco was a bit better quote, though there were a number of errors in my information and I'm waiting for the agent to get back to me. Out house has stucco on the front and a lot of insurance companies won't insure houses with it here in the Northwest, though it appears Safeco will insure stucco so I may be switching the home owners policy too. We have the old fashioned stucco which is essentially concrete, and the problems were with some plastic stuff that was sold for a few years, but the insurance companies often don't make any distinction.
I have Geico but my one claim experience with them was horrible, and specifically related to their unofficial practices regarding Dallas-area Tesla repairs. I wrote up my experience here.
I have GEICO currently, but we will be changing shortly. Here's my rant on why:
We were involved in an accident last year where a young girl ran a red light. We T-boned her at about 35 mph in her passenger side rear quarter. From the moment my wife called to report the claim, the GEICO rep (not even the claims adjuster, just the person who took down the details of the claim) noted that it was probably our fault based on where we hit the other car. I don't see how this is possible -- had the girl been going 10 mph faster we would have missed her entirely, 10 mph slower and we would have hit the front portion of her car. Well lo and behold, the outcome of the investigation is that GEICO was not able to determine fault, despite the fact that (1) we had a witness (a pedestrian who saw it), and (2) there were traffic cameras (not red light still cameras, but video traffic cams) at the intersection. They just never tried to get the footage. (I did to no avail.) The conspiracy theorist in me thinks that the fact that the other driver had GEICO was not irrelevant, as denying fault on both sides means they don't have to pay any diminished value claim.
After the bad experience, we looked for other insurance companies only to find out GEICO had put in whatever public database insurers use to give you quotes that were WERE at fault, despite the adjuster telling me it was no-fault all around. So we were stuck with GEICO, as all other companies were twice as expensive because they thought I had an at-fault accident with $12k in damage.
A couple months later I get a letter from a law firm in Indiana, I think, who are GEICO's attorneys. The letter says they are going to file a subrogation lawsuit against my wife and I unless I log on to the law firm's website and make an immediate payment of ~$12,000. I was livid. I wrote a very angry and lawyer-y letter to the adjuster explaining essentially that this was BS. She claimed the letter was sent in error, and they were not pursuing subrogation. I asked for a written confirmation of this and after a follow up call received it. I also called and talked to enough people so that they claim they have "fixed" the "error" listing us as at fault for the accident, so we will be able to once again see competitive rates from other companies.
tl;dr: Poor claims experience and questionable treatment afterward.
We were involved in an accident last year where a young girl ran a red light. We T-boned her at about 35 mph in her passenger side rear quarter. From the moment my wife called to report the claim, the GEICO rep (not even the claims adjuster, just the person who took down the details of the claim) noted that it was probably our fault based on where we hit the other car. I don't see how this is possible -- had the girl been going 10 mph faster we would have missed her entirely, 10 mph slower and we would have hit the front portion of her car. Well lo and behold, the outcome of the investigation is that GEICO was not able to determine fault, despite the fact that (1) we had a witness (a pedestrian who saw it), and (2) there were traffic cameras (not red light still cameras, but video traffic cams) at the intersection. They just never tried to get the footage. (I did to no avail.) The conspiracy theorist in me thinks that the fact that the other driver had GEICO was not irrelevant, as denying fault on both sides means they don't have to pay any diminished value claim.
After the bad experience, we looked for other insurance companies only to find out GEICO had put in whatever public database insurers use to give you quotes that were WERE at fault, despite the adjuster telling me it was no-fault all around. So we were stuck with GEICO, as all other companies were twice as expensive because they thought I had an at-fault accident with $12k in damage.
A couple months later I get a letter from a law firm in Indiana, I think, who are GEICO's attorneys. The letter says they are going to file a subrogation lawsuit against my wife and I unless I log on to the law firm's website and make an immediate payment of ~$12,000. I was livid. I wrote a very angry and lawyer-y letter to the adjuster explaining essentially that this was BS. She claimed the letter was sent in error, and they were not pursuing subrogation. I asked for a written confirmation of this and after a follow up call received it. I also called and talked to enough people so that they claim they have "fixed" the "error" listing us as at fault for the accident, so we will be able to once again see competitive rates from other companies.
tl;dr: Poor claims experience and questionable treatment afterward.
Bridor
Member
Hello Dr Pete, i read online that there is a clause in Geico's insurance policy that states they don't have to use OEM parts. See bleow.
"2. Will Not exceed the prevailing competitive price to repair or replace the property at the time of the loss, or any of its parts, including parts from non-original equipment manufactures, with other like kind and quality and will not include compensations for any diminution of value that is claimed to result from the loss."
