Geico insurance increase

[Common_Loon]

We just got the Geico statement for the next 6 months. Our 2 tesla and 1 Lexus household, has seen an increase from $1100 to $1450. The model 3’s we have used to cost around $330 each for 6 months. It’s now $550. Anyone seen this?
I just got off the phone with them. Of course they told me it’s based on their stats of repair costs and blah blah blah.

My Geico premiums kept on going up. Switched to Progressive and saved a LOT of money.

 

[hlin07]

Regardless of what you have, it PAYS to shop around.
I had a no name regional insurance for a while and then they exited the market, I was like - shiiiit. Then I started shopping around including getting insurance broker to look for quotes for me.
Never would I thought that the cheapest rate came from *All State*. I actually saved close to 700 a year switching to all state.

 

[talkingevs]

We've had Geico for over 2 years now. We pay about 1350/6mo for a 19 Chevy bolt, our 18 model 3, and a Nissan nv200 van.

 

[calidreamz808]

Same. Geico was really cute and only upped my coverage 40$ then renewal hit.. Felt like they threw a brick at my forehead, so I said goodbye and did Tesla Insurance.. I saved an insane amount of money and my ins is like 80$ a month, but keep in mind, i don't have any other cards home boats etc to insure so i might be an anomaly. I recommend Tesla Ins if you don't have an umbrella policy etc. Worked for me.

 

[Nocturnal]

I've had Geico for a year and it hasn't changed.

 

[Jazz_MIII]

We just got the Geico statement for the next 6 months. Our 2 tesla and 1 Lexus household, has seen an increase from $1100 to $1450. The model 3’s we have used to cost around $330 each for 6 months. It’s now $550. Anyone seen this?
I just got off the phone with them. Of course they told me it’s based on their stats of repair costs and blah blah blah.

We have Geico and called them re: the insurance rate increases. They told us they auto-pair drivers with cars to determine rates even if each driver doesn't use the car they are paired with. They said this was in an effort to guarantee lower insurance rates. Not sure how much I really believe them considering they also told us our rates would be unaffected if one were to leave the group policy, which turned out to be a lie.

So there's my 2 cents...

 

[SD_Engnr]

Interesting. I was told the exact opposite from the main Tesla repair shop here in San Diego. Must be a matter of knowing how to navigate Tesla's process.

Also a Geico customer, and no rate increase since getting my 3 last August. Next billing cycle is coming, so we shall see what happens.

Just got my latest policy renewal. Premium has increased $165 per 6 months. Will shop around, but it's seemingly not as bad as others. Maybe they're going with a more gradual increase method?

 

[ElectrekPanda]

Yeah, it is common. It will go up. I switched to Tesla and I saved about 30%.

 

[SD_Engnr]

Yeah, it is common. It will go up. I switched to Tesla and I saved about 30%.

Yeah, it had just been more than a year without an increase, so I was hopeful it would remain that way. Switching to Tesla with comparable coverage is actually more expensive for me.

 

[JWSM3Owner]

Two weeks out from taking delivery on a Model 3 SR+. I actually got quoted for insurance before making the decision to buy and was floored by what Geico was asking for. They wanted $1,800 more from me a year for actually less coverage and higher deductibles. Shopped around, Progressive’s quote was the best, by far—$550, which is higher than my coverage for my Mazda3, but I was expecting that and the increase is reasonable. Plus, Progressive offers gap insurance, which is more valuable to me than Geico’s mechanical breakdown insurance.

Idk why Geico has no desire to be competitive. I spoke with two agents on the phone and they just told me they don’t price match. One put me on hold, I assumed to talk to a manager and get permission to offer a lower rate, but no! She was just pulling up talking points on how Progressive will eventually raise my rates and I should pay astronomical rates now instead. I mean, they might! But even if they do, I’ll still have saved nearly $700 over the next six months. This car, plus Northern Virginia’s utterly ridiculous property tax rate, is already expensive enough.

 

[Nocturnal]

Two weeks out from taking delivery on a Model 3 SR+. I actually got quoted for insurance before making the decision to buy and was floored by what Geico was asking for. They wanted $1,800 more from me a year for actually less coverage and higher deductibles. Shopped around, Progressive’s quote was the best, by far—$550, which is higher than my coverage for my Mazda3, but I was expecting that and the increase is reasonable. Plus, Progressive offers gap insurance, which is more valuable to me than Geico’s mechanical breakdown insurance.

Idk why Geico has no desire to be competitive. I spoke with two agents on the phone and they just told me they don’t price match. One put me on hold, I assumed to talk to a manager and get permission to offer a lower rate, but no! She was just pulling up talking points on how Progressive will eventually raise my rates and I should pay astronomical rates now instead. I mean, they might! But even if they do, I’ll still have saved nearly $700 over the next six months. This car, plus Northern Virginia’s utterly ridiculous property tax rate, is already expensive enough.

Insurance is such a weird business. Geico was substantially cheaper than my other options.

 

[DopeGhoti]

She was just pulling up talking points on how Progressive will eventually raise my rates

I've had Progressive for years and years. My rates have generally only ever gone down; the one time they went up as when I moved to an area with a higher crime rate and no secured parking.

I was expecting my rates to go up when I traded in a '14 Prius c for a '19 Tesla 3; I was floored when they ended up increasing by negative two hundred dollars (for the arithmetically challenged: this means I am paying less now) for a six month term, and that is with comprehensive coverage with a $0 deductible on all glass. Which includes the roof- I checked.

 

[BZM3]

We just got the Geico statement for the next 6 months. Our 2 tesla and 1 Lexus household, has seen an increase from $1100 to $1450. The model 3’s we have used to cost around $330 each for 6 months. It’s now $550. Anyone seen this?
I just got off the phone with them. Of course they told me it’s based on their stats of repair costs and blah blah blah.

Geico sucks

 

[LACALawyer]

I dumped progressive and went with Tesla insurance for the massive savings

 

[Wennfred]

With Wawanesa, my increase was $18.00 higher then what I paid for insuring the Nissan Leaf.

Fred