Geico rate increase on ISx50
12-01-11, 10:26 AM
#1
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Geico rate increase on ISx50
Hello members,
I've got a couple of questions to ask:
1. I just got my policy renewal from Geico and I saw a dramatic price hike on my 6 month policy. A $150 difference for 6 months and $25 on my monthly from my old policy. At first I thought the hike came from a no fault claim I filed a few months back. When I called Geico they told me that hike came from a new formula/calculation for rating our IS's? BTW, I'm in the LA area. I told the rep its absurd for something so dramatic? She gave a different answer in the beginning and then told me the new formula answer! BS!! Are there any other members here with Geico that may have renewed a policy and seen a hike?? Trying to figure out what to do next?
2. Does anybody have any experience with filing a diminish value claim after an accident? I've been getting different answers from Geico, first I was told Geico would help me then they told me that I have to go through the at fault insurance company.
I've got a couple of questions to ask:
1. I just got my policy renewal from Geico and I saw a dramatic price hike on my 6 month policy. A $150 difference for 6 months and $25 on my monthly from my old policy. At first I thought the hike came from a no fault claim I filed a few months back. When I called Geico they told me that hike came from a new formula/calculation for rating our IS's? BTW, I'm in the LA area. I told the rep its absurd for something so dramatic? She gave a different answer in the beginning and then told me the new formula answer! BS!! Are there any other members here with Geico that may have renewed a policy and seen a hike?? Trying to figure out what to do next?
2. Does anybody have any experience with filing a diminish value claim after an accident? I've been getting different answers from Geico, first I was told Geico would help me then they told me that I have to go through the at fault insurance company.
12-01-11, 04:08 PM
#4
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My policy (Geico) went up about $10 for the 6 month renewal. Last time it went up about the same amount as well. If I were you I would call and tell them you were going to be shopping around and see if they will lower it, if not start looking around and see if you can get it cheaper.
12-01-11, 04:51 PM
#5
Bingo! Unless you pay 6 months up front for a discounted rate you can shop around cuz you're not locked into a "plan" like a cell phone. I personally just sold my second vehicle and am down to one car now. No more multi-car discount, but with full coverage and roadside assistance through Nationwide I pay $83.xx per month.
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12-01-11, 11:45 PM
#9
If you meet their good drive requirements, Wawanesa insurance will probably give you the best price if you live in CA.
I disagree with AAA having great rates though. I have AAA, it is expensive then most others i find (At least in my situation). But i stick with AAA because they have excellent customer service, and they have always taken care of me and my car with 0 BS. Great customer service is worth the extra cost, IMO. The last thing i want to do during a claim is have to fight with an insurance company lol.
I disagree with AAA having great rates though. I have AAA, it is expensive then most others i find (At least in my situation). But i stick with AAA because they have excellent customer service, and they have always taken care of me and my car with 0 BS. Great customer service is worth the extra cost, IMO. The last thing i want to do during a claim is have to fight with an insurance company lol.
12-02-11, 07:49 AM
#12
Lexus Test Driver
yeah I'm with State Farm and have the multi car discount, home discount, life insurance discount.
I'm basically given free life insurance because of all the discounts. And the rates on my IS350 and my wifes GX470 are incredibly fair. In fact, my wife's08 GX470 costs less to insure than a 06 Envoy Denali. Figure that one out.
I'm basically given free life insurance because of all the discounts. And the rates on my IS350 and my wifes GX470 are incredibly fair. In fact, my wife's08 GX470 costs less to insure than a 06 Envoy Denali. Figure that one out.
12-02-11, 08:55 AM
#14
Another vote for State Farm. My 2008 IS350 rate has only gone down every 6 month renewal. I'm looking into a 2011 IS350 F Sport and called to see what the difference would be. Was told it would be a $43 increase, over 6 months, for the new car. Seems fair to me.