Jan
26
Insurance is a funny thing. We pay for it and pray we do not need it. We want the best coverage, but we do not want to pay more for it then we really have to. So, what should you do? Research, review, compare. Getting stuck with a policy that costs far more than a comparable one is not fun, and something that should never happen to a savvy insurance shopper. Depending on your needs, Geico is not always the lowest costing insurance. There are other, far cheaper alternatives, especially if you just need a bare bone, no frills state minimum policy.
There are many sites that offer side-by-side rate comparisons, and by using those, you can see what insurance company is going to save you the money, and what services each company offers. If you are going to be upgrading to full coverage, then be prepared for a big jump in the rates, but don’t worry, you can still find a pretty good deal if you are willing to do a little leg work for it.
Comparing insurance rates for my own car, I found that Geico was not the cheapest in any situation. I got quotes for both my newer car (an ‘06), and my older car, (a ‘95). I compared both full coverage and state minimum for both vehicles, and tried quotes with and without multiple car discounts. In the case of full coverage insurance, Geico was actually in the upper tier, not the most expensive, but certainly no where near the cheapest either. For the state minimum quote, they did slightly better, but still not in the top three choices for price and comparable services. Esurance, Progressive and Allstate were all far better deals for both of my vehicles. I am a smart shopper, however, and I would rather start looking for a new policy a month or two before my old one expires, just to be sure that I am getting the best policy for the best price.
What about customer service? Does Geico magically hold the edge on customer service to offset their higher prices? How are they rated on neutral industry boards and insurance sites? Are they all raves and multiple stars, or are there complaints listed? Do you know of anyone who has used Geico before? How did they rate their service?
What exactly are you paying for with your higher premiums, if not better service? Could it be the slick television ads that you are sponsoring? Yes, the little talking lizard is cute, but I really would rather go with a lesser named, reliable insurance company that gives good service at a fair price. The savings from not using the talking logos, or the other gimmicks more than offsets the lack of name recognition to most people. Let others be brand name driven and pay higher prices for their insurance. As for me, if I want to see cute animals, I will drive over to the local zoo.
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