Geico just raised my rate another 40%

[mswlogo]

However they arrive at your rate, by applying discounts because of home or not, doesn’t really matter. Simply compare total marginal costs:

1) given all home etc. insurance from current Acme insurance co, how much MORE will they charge you for total insurance after they add your car? That marginal cost is X.
2) collect quotes from other insurance cos and find the lowest quote for your car insurance. That marginal cost is Y.

If Y << X, then switch.

It would be more work, but you can also do the same exercise with all your insurance.

Don’t succumb to the cognitive error of chasing perceived “discounts” vs. simply comparing marginal costs.

Of course. But that is NOT easy. Some stuff we found out later. With a notice months later. We see you dropped your car policy and therefore raising your rates on umbrella because you no longer qualify for the discount.

Some of it is just automatic. Not a trick. These are the rates. They need to know what coverage you have to set umbrella price.

I’m sure everyone here has an umbrella policy. It’s the one that got impacted the most.

They ask very different questions and come up with different replacement value for the house. But they say you’ll be covered regardless of the estimate they come up with. You have no idea how to compare. Cars are easier but there are subtle differences too.

It’s a nightmare.

 

[bhzmark]

<---- See my avatar

Of course. But that is NOT easy. Some stuff we found out later. With a notice months later. We see you dropped your car policy and therefore raising your rates on umbrella because you no longer qualify for the discount.

Some of it is just automatic. Not a trick. These are the rates. They need to know what coverage you have to set umbrella price.

I’m sure everyone here has an umbrella policy. It’s the one that got impacted the most.

They ask very different questions and come up with different replacement value for the house. But they say you’ll be covered regardless of the estimate they come up with. You have no idea how to compare. Cars are easier but there are subtle differences too.

It’s a nightmare.

 

[dark cloud]

One has to wonder how low the premiums might be if they stopped all those commercials.

 

[Liquidsx]

I just purchased a policy with Wawanesa for $537 per 6 months.

50k/100k (50k Property damage) 500 deductible.

38 year old in California with clean driving record.

The next closest was progressive for me and then Geico. I think I got a quote with nearly every insurance company.

 

[jeffro01]

Funny, my Geico rate on my Model X keeps going down... Insurance rates are a funny, confusing, enigma...

Jeff

 

[nio796]

Lucky you.