I just saved $330 by switching to Geico
Yep, it is true, I just switched over to Geico and saved $330 per year on my car insurance. From what I have seen of Geico so far, they appear to be very promising. But, I don’t think the truth really comes out with insurance companies until you actually have a claim. I will let you know when/if that day comes.
I was with AAA before and I was deliberately paying more than the average for the sake of convenience. I knew my agent well enough that I could email her or call her directly, rather than talking to a random agent, like I will likely have to do with Geico.
I try to shop around once a year for insurance rates, and for whatever reason the price gap increased since last time I checked. For the same amount of coverage $330 was a bit too much to pay for my convenience. To add to that I haven’t had good experiences with AAA anyway, so I figured it was time to make the move.
If you haven’t shopped around in a while, you may be surprised at some of the price variances with car insurance. Some companies rate drivers on different criteria, so you may be able to save a few hundred bucks a year by switching. I don’t necessarily recommend Geico, because I haven’t seen the full picture with them yet. But, they were the best rate that I found - oh and I just love that little Gecko!!
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Comments on I just saved $330 by switching to Geico »
Don’t forget to try and bundle your insurance coverage. Many companies will give you discounts for multiple cars and multiple policies (home, life, etc.).
Yes - Good point - Assuming things continue to go well with Geico, I will be bundling all my insurance with them…
I wish you well; I’m still sore a GEICO from 20 years ago when they told me I was high risk because I was in the Air Force.
But that was back in the day when they had agents..before they got rid of their agents, then decided they needed agents again.
They should do you until the day comes you need a REAL insurace agent.
@Ernesto
Yea, that was the trade-off I made. I am sacrificing the agent to save $330, we will see how it works out. I will keep you updated…
We also saved by switching to Geico. I think it was about $400 annually.
Good article.
But, why does the caption that appears on the browser title bar say “I just saved 0 by switching to Geico” ???
When I saw this I initially thought the article was going to be critical of Geico because you didn’t save anything.
Hey - did you know that Warren Buffet owns Geico? Because they only insure drivers with good records, Mr. Buffet gets all that capital to invest with.
@Paul
I don’t know why it is showing that way - I will have to look into that…
@Cory
Yes, I did know that Warren owned them - It played a tiny part in my decision to switch and I also got a discount because I am a Berkshire Hathaway shareholder…
Weekly Roundup #6 (December 1, 2007) - myinvestingblog.com @ 9:53 am
[...] questions answered. - ChristianPF joins the ranks of Hanks Roundup for an unprecedented 3rd time by saving a bunch of money switching to Geico! Good job! - MoneyRelations posts about the battle between men and women financial bloggers - this [...]
I’ve been a satisfied customer of Geico for years. I’ve never had any problems dealing with them, be it accidents, road side assistance, making changes in my policy or just dealing with representatives. They have all been pleasant, professional and ready to bend over backwards to assist.
@Nancy
Thanks - that is encouraging!!
I googled “Geico complaints” and was surprised by the type and how many that came up. I hope none happen to you. I’m always leary about companies that spend $$$$$ on advertising. I think the consumer isn’t going to wind up getting a good deal for that reason. At least be aware of some of the numerous complaints so you won’t be blindsided later.
Sunday Money Roundup - Three Weeks Till Christmas Edition. | My Two Dollars @ 10:31 am
[...] PF switches to Geico and saves money. To be honest, that is the first person I have ever heard of saving money with them. Maybe [...]
Did you try Liberty Mutual? I saved almost $600 switching from GEICO to Liberty.
@Pinyo
Wow!! I will have to check them out -
Replacement cost: Why’s it important | InsuranceYak.com @ 4:08 pm
[...] I was happy to read JBL of All Finance Matters announce his one millionth hit. While I was visiting All Finance Matters I decided to review some older insurance related articles he’s published. Being inside the insurance industry, I appreciate people from outside the industry sharing their opinions. Especially if they can articulate their viewpoint beyond “insurance sucks” or GEICO is cheaper. [...]
One other idea to save money on insurance, especially for folks with healthy emergency funds, is to raise the deductibles on your coverages. For safe drivers, this can be an effective way to save money.
I saved $700 with geico at http://www.AutoInsuranceQuotesInfo.com