MIDWEST, OKLAHOMA -- Dear Fellow Consumer,
Thanks to my3cents dot com, we have this wonderful place for expression, I often wonder if the financially voracious social clubs we call banks and insurance companies actually listen and respond to public concerns.
For me, it's not about the money. We make more, we spend more... and we take none when we go! So where did our society go wrong, who decided we "must be insured"? And are we better now then we were before?
My past experience with Geico was rather benign. I received insurance coverage from them for two years without incident. I even insured my teenage daughter at a reasonable rate.
Without going into great details, which seems to be what the future of insurance is all about, I will keep this simple. I let my insurance laps. I was driving a company pickup that was covered on a separate policy. Later, after getting a new (used) personal vehicle, I contacted Geico for insurance. Wow! my premium about doubled. The used pickup is a little smaller, less power and I have a clean driving record.
Then the notice came... "FAIR CREDIT REPORTING ACT NOTICE" I couldn't believe what I was reading. I was wrong, it is about the money. It turns out insurance monsters are now evaluating us from our credit score.
In a 2000 report, James Monaghan, ACAS, MAAA, conducted a study of 170,000 drivers and came to the conclusion that, individuals with bad credit and clean driving records actually caused 27% more in claim losses per premium dollar than people with good credit and poor driving records.
Okay, now where do I fit into these statistics? I'm 40+, I have no tickets and no accidents in the past 6 years. I drive less than 5 miles round trip to work and travel only once a year. According to Mr. Monaghan's study, I need to get busy crashing and making claims! I'm lagging about 27% behind the national average.
How did man/women make it thus far without insurance? Oh, for the love of money.
ps. you can't take it with you...
I was rear ended by a van August 10, 2009 by a woman insured through Geico. She was cited and an accident report was filed with the police department. Geico seemed pretty nice until the medical bills then the adjuster told me that Geico would only pay $3,400 of the $7,800. The adjuster told me that they would not pay more than that because the doctor charged too much. I have dealt with insurance companies before but never have I heard such garbage in my entire life.
The adjuster seemed really angry and tried to downplay my injuries saying it was just a very minor accident according to her insured. I have filed a complaint with Division of Insurance in Alaska and am really upset with the shoddy treatment by the Geico representative. The thing is this is only the second time I have been in an auto accident the other time was in 1986 and as I recall the other insurance company had no problem with paying medical expenses. I hope to God that if there is a next time the person who hits me is not insured with Geico. I know I would never go through an insurance company like them.
TAMPA, FLORIDA -- I was a loyal Geico customer for over 10 years. I never had a claim. In a one year period, my wife and I were hit twice while our cars were not moving. First I was hit at a stoplight when a driver passed out and plowed through an intersection and hit a turning car in front of me. Again, my car was at a dead stop. Later that same year, my wife's car was hit in her parking lot at work, when she wasn't even in the car.
Would you like to know what GEICO did? Cancelled my coverage. When I called up and talked to them, their reason was that there were two claims against my policy. What? Basically, after even talking to a supervisor, I was punished because both accidents were caused by other GEICO insured drivers. I will never ever do business with this company again. They took $15,000+ of premiums from me and then cancelled me because I had the misfortune to be hit twice by other Geico customers.
I recently decided to check around to see if I could get a better deal on my insurance than I currently have. Two of my children have insurance with Geico and so I decided to go online and get an online quote. When asked for my Social Security Number I did not provide it. I did not want them to run a credit report, I only wanted a quote, not to purchase insurance at that time. They came in higher than my current insurance company and so I did nothing else. Two weeks later I receive an e-mail indicating that they had run a credit report through Trans Union. I contacted them and asked why they ran a credit report without my authorization. They said that I authorized them to do so. Since I never gave them my Social Security Number I asked how they could run a credit report. I keep getting the same message back. That I authorized them to do so. Well, I'm really stumped as to how they could do it without me giving them my number. Beware, even if you don't give out your Social Security Number they seem to be able to manage to run a credit report. This is very deceptive and dishonest. I could have understood them running a credit report had I chosen to purchase the insurance but I did not. I'm very upset that they would do this. So beware, even if you don't give them authority to run a credit report they seem to be able to find out what your SSN is.
Just a warning to persons who purchase GEICO's road hazard coverage which provides towing for mechanical breakdown or lock service - just like AAA. I used the lock service for my son (who was in college) 2 times and recently when I was receiving new quotes for insurance learned that GEICO reports this as a claim to the insurance indexing bureau.
This interferes with your ability to retain insurance as other companies look at this as if you have made a claim. It equates to misinformation on a credit report which interferes with your credit rating.
Don't purchase this coverage from GEICO or any other insurance company, you are better off simply buying a policy from AAA.
Well, I guess every situation is different. I just got my renewal for my auto insurance. Guess what, It went up $50.00. Ihaven't had a claim of any kind for over 10 years. Haven't even had any tickets. I called Geigo, I asked them why my premium went up, since I had done nothing to cause this. Their answer: "We have paid out more in premiums in your area, so we had to increase." Fine, I understand that. But, increase the premiums on those that caused the payouts, don't increase it on the ones that saved you money. Yes this is different from my other posts. Because what I DO HAS A DIRECT EFFECT ON WHAT I AM CHARGED. I don't take the chances that most people do. By that I mean: If the speed limit is 75, I don't do 80. Someone wants to cut me off at an intersection, I let them. It only takes once to get a ticket, or have an accident, I don't plan on being that one. So, when Geigo told me my premium was going up to $454.00 for the next 6 months ($900.00 for the year) I called AIG. Now, with Geigo, I had no "Frills". I had just what the state required. I have a 1994 vehicle so I don't need full coverage. When I called AIG and told them my situation look at what I received:
15/30,000 per person per accident $143.00
10,000.00 property damage 99.00
Comprehensive w/$250.00 ded. 59.00
Total cost $301.00
I got the comprehensive because with it I get FREE OF CHARGE:
Road side service (Towing, flat repair, etc)
Extended Transportation expenses
per day/max amount $30.00/$900.00
My advise: When it comes time to renew your policies, CALL AIG!!! They will give you what you earn.
PENNSYLVANIA -- I was hit headon by a 17 year old with minimal insurance. I'm a single parent who worked 2 jobs. From being hit headon my foot was broken and had injured my left holder and back. I'm not asking for a major payout... what this is about is the insurance company owes me my lost wages since I cannot work but it has been now almost 4 mo and still nothing. I have spent my savings on trying to keep my house running but the funds have now run out... My insurance is paying my medical and Geico is just sitting back with no regards to what happens to me or my daughter...
THIS IS WRONG. I didn't cause the accident but the 17 year old who did just walk away after the accident with no consequences. I have bills to pay... a child to raise and now no income. We the injured should not have to wait more and sometimes years to get our lives back. GEICO YOU SHOULD BE ASHAMED OF THE WAY YOU TREAT THE INJURED... I'm telling my story so ppl see this and think twice about having GEICO as their insurance co...
Simply because I was accidentally hit and knocked down by a car door in which my husband was driver and since pain was minimal I paid it no attention. Well 3 weeks later I had to go to dr. due to pain and contact insurance company that gave me a hard time as to why I didn't go to the dr. right away and call the insurance company when it happens. Well because didn't think at the time it was something to make a big deal out of. Have had an investigator come and take my statement and 3 weeks later get a letter stating that we both need to take this examination.
This insurance company that my husband and I have been with for 12 years has or is trying to make us feel like a criminal. Can anyone shed light on this exam and what I should do? Can I request a copy of 1st report? Can I have a recorder with me to protect myself? Please anything that you can share with me as to what this exam is all about and what happens if I don't go. I know what happened and I told them the honest truth, but this has really depressed me, because I have NOT DONE ANYTHING WRONG.
I'll keep it short: a lady runs a solid red light and flies full speed in front of my truck. My truck was totaled even after slamming on my brakes as hard as I could and trying to swerve out of way even though I have a solid green. There were tons of eye-witnesses. The other driver admits to not even seeing the light as she was preoccupied with mother's recently installed pacemaker. GEICO "insured" other motorist. I try to go through GEICO as I think this should be cut and dried, as did the responding police officer on the scene. The GEICO representative after talking to the other driver tells me to get a rental, that they will pay for.
After 4 days of 'investigation', GEICO claims I am 25% at fault!?! Huh?!? They claimed I could have done more to avoid accident. What?!? They had 4 business days to mull it over, and I had 1.5 seconds. And I think I made a better decision in 1.5 seconds than they did in 4 days. After I argue with the GEICO claims adjuster for 15 minutes, he changed it to me being only 20% at fault. Huh?!?! Liability is now negotiable after a 4-day investigation??? Something seemed very fishy about the whole thing. I hung the phone up, called MY insurance company (a REAL one: USAA).
They took care of 100% of vehicle loss and waived my deductible because other driver was at fault. The check is in the mail now. Now they are going after GEICO. And now the best... after a week, GEICO calls Hertz and says they aren't paying for the rental that THEY TOLD ME TO RENT!!! Unreal. Don't use them if you will actually ever NEED your insurance!
I was involved in a car accident of which a woman went through the red light and hit me head-on. There were no witnesses and because of no-fault they say the accident was 50-50. I was hit the hardest, I passed out and needed to be taken to the hospital by ambulance. The hospital took 2 Xrays and the ER Dr. said I had a broken arm that will need surgery to repair.
The Ins co only paid about $240 of that bill for Dr. and ER. I went to my ortho surgeon the next day and he only did knees not arms and referred me to the Dr who did my surgery, they wouldn't pay some costs, wouldn't pay pre-surgical exam that I needed due to my age. The total bills come to about $12,000. They then dropped me... I had plenty of medical coverage and additional personal injury coverage. This is an outrage!