I’ve been with Geico for over a decade and never had an accident. I drive very little (less than 6k miles per year) because I find driving stressful. I’m currently paying $570 for a six-month premium (~$95/month) on a 2022 Honda CRV, but they keep raising the rates by 6-7% every cycle. Recently, they increased it to $661 for six months (~$110/month), a 16% hike!
So I started looking for other quotes, and Progressive offered me $533 for almost the same coverage as Geico. That makes me wonder: Is there a catch? Will they just lure me in with a lower rate and then jack it up after six months? Also, how’s their customer service? I read a 5-year-old thread that was mostly positive, but I want to know if things have changed since then.
Also, why do insurance premiums keep going up by 6-7% every six months, even though the car’s value goes down? I know inflation and liability costs are factors, but it feels like we’re being taken advantage of. Is it worth negotiating with car insurance companies like we do with internet providers?
Insurance companies don’t seem to care about keeping customers, just getting new ones. A lot of people just cycle between Progressive and Geico every year to get the best rates for the same coverage.
Oak said:
Insurance companies don’t seem to care about keeping customers, just getting new ones. A lot of people just cycle between Progressive and Geico every year to get the best rates for the same coverage.
I didn’t realize switching every now and then was the norm with car insurance. Based on what you and others are saying, I’ll probably do that. It’s a hassle, but I guess it’s what we need to do to save money.
@Val
You don’t always need to switch every 6-12 months. Sometimes, sticking with one company works. I’ve been with the same company for nearly a decade because no other company has been able to beat their rates for me.
I used to have Progressive for 5 years. Had a ticket (for going 5 over) and then a claim when someone backed into my parked car. The claims process was great, quick and smooth. But when it came time to renew, my rate jumped by $70 a month, so I left. I get why my rate went up, but I couldn’t justify it.
I usually switch between Progressive, Geico, and State Farm to keep my rates low. I’ve had Progressive for a while now, and when I had a deer hit my car, they handled it well. Odd thing though: when my renewal came up, the price was $70 higher. I used their own comparison tool and ended up getting a new policy for $100 less than the renewal notice! So I’ve stuck with them, for now.
I was with Progressive, but they kept raising my rates even though I didn’t have any accidents or changes. Eventually, I switched to another company. Car insurance is one of those things you need to shop for every few years.
Thanks for sharing what you know about them. I live near Miami, so with the expensive cars and higher risk factors around here, we want to make sure we’re covered for worst-case scenarios. I hope that makes sense.
I’ve been switching between Progressive, Geico, and State Farm over the last several years to keep my rates down. It’s funny because when I was about to renew with Progressive, they sent me a quote that was $70 more than what I paid previously. I used their comparison tool and somehow got a cheaper quote from them directly, so I renewed at a lower price than before! It’s worth keeping an eye on.