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Geico / unethical placement in assigned risk category on auto insurance

Bronxville, NY, US Review updated:
Contact information:

I have had my vehicles insured with Geico for over 10 years I started asking friends and family what they pay for insurance and after moving and getting hit with a huge increase I started comparison shopping. I come to find out that switching to Allstate has saved me almost 50% in premiums! That is huge and when I inquired with my new agent how they can save me so much money they said that Geico had me erroneously in an Assigned Risk category. I questioned this with Geico, since I have had a perfect driving record, no tickets, no accidents, no claims, always paid on time for over 20 years and they said I was not in Assigned Risk but in their Standard category and that Allstate is misinforming me. I can't help but wonder how two insurance companies can have such vastly different rates and if Geico is the one actually misinforming me and for how many years I have been overpaying!!

Below is my email correspondences with Geico representatives. Something needs to be done about this price gouging!!

Thank you,
Karen Silvestri

Case: [protected]

[protected]@aol.com

Dear Karen:

We are sorry that you are being misinformed of your current insurance. Your policy isn't in an assigned risk category. You are currently being rated in our standard company.

Thank you for the opportunity to assist you today and for using our online services.

Sincerely,

Paul
GEICO Internet Team

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In order to protect your privacy, please do not include personal information in a reply email (examples include driver's license number, social security number, date of birth, or financial account details). To provide us with this information, simply log into your policy at geico.com and make the necessary updates or, while logged in to your policy, select Contact Us to send an email. If you prefer, you can call us, anytime, at [protected].

Original Message Follows: ------------------------

Good Morning,
I have been shopping around and a representative from another company issued me a quote and said that when they pulled my record they found I am in an Assigned Risk category with Geico, therefore they have to implement a surcharge!! Why would I be in that category? I am appalled, I have an excellent driving record, no tickets and no accidents, how many years have I been miscategorized?

I would appreciate a reply ASAP before I renew my coverage,

Karen Silvestri

-----Original Message-----
From: GEICO Service
To: kmsrock
Sent: Sat, Oct 28, 2017 11:20 am
Subject: Re: Your GEICO Internet Request (******7764) - QuestionsAndComments - NY

GEICO for 24-hour service

Case: [protected]

[protected]@aol.com

Dear Karen:

We sincerely regret that you are considering canceling your policy. We understand that you are concerned about your policy premium. You are a valued policyholder, and delighting you is our highest priority.

Because various life circumstances may impact the rate and discounts you receive, we would greatly appreciate the opportunity to discuss your policy with you to ensure you're receiving the most competitive rate. We'd hate to lose such a valuable customer.

If you are reviewing quotes from other insurance companies, please ensure these quotes include the same level of coverage that you currently carry with us. Be sure to also disclose any and all accidents and/or violations as your premium may change within the first 60 days if they receive unreported information. Please review any policy discounts in the quote to ensure that you will continue to qualify for them after your first renewal.

After a review of your policy, we found you may be eligible for the following rate reduction: Defensive Driver Discount, which could reduce your policy premium by $224.60.

Simply visit geico.com/ddc and select the appropriate state to learn more. If an online course is completed, GEICO will be automatically notified, and we will add the discount to your policy. If the course is completed in a classroom, we will need to receive a copy of the course completion certificate. For your convenience, a copy of your course completion certificate can be faxed, emailed, or mailed in.

We would like to have an opportunity to fully review your policy and your coverages. If you wish to initiate a policy review, please call us 24 hours a day at [protected].

Please note that no changes have been made to your policy at this time.

Thank you for the opportunity to assist you today and for using our online services.

Sincerely,

Paige G.
GEICO Internet Team

GEICO Indemnity Company

In order to protect your privacy, please do not include personal information in a reply email (examples include driver's license number, social security number, date of birth, or financial account details). To provide us with this information, simply log into your policy at geico.com and make the necessary updates or, while logged in to your policy, select Contact Us to send an email. If you prefer, you can call us, anytime, at [protected].

Original Message Follows: ------------------------

Hello,
Thank you for replying.
It's the same old story that the good has to pay the price for the bad!
Im 56 years old have an excellent driving record no accidents, no tickets and shouldn't have to pay such high rates!
I appreciate all the information you provided but still do not understand why a 17 year old car costs
over $1000 a year to insure! The cars value is not even close to that. It is not driven often. It is my sons car who lives in California and drives it only when he's visiting.
I might be way off base in thinking my premiums are high but I won't know until I shop around.
Thank you
Karen Silvestri

Sent from my iPhone

On Oct 27, 2017, at 3:22 PM, GEICO Service wrote:

Case: [protected]

Dear Karen,

We understand that you are concerned about the premium increase you experienced at your recent policy renewal. You are a valued policyholder, and we would hate to lose your business. We welcome the opportunity to assist you further.

In reviewing your policy, we see that there are 2 reasons for the increase to your premium. One is that you were previously receiving the Multi-line discount. This discount is applied when you also carry a property policy with us. Since this policy was recently canceled, this discount no longer applies.

The other reason for the increase is due to an increase in the number of serious accidents, as well as increasing costs associated with injury payments and auto repairs across the state. This has led us to adjust our premiums as well.

We know that this has a real impact on you, our customer. Please be assured that we are working hard to control all costs and to keep the impact on your premium as low as possible. Ways we work to save you money include:

-A coordinated countrywide response to weather catastrophes.

-Fighting fraud on the front line so you're not paying for someone else's fraudulent claim.

-Offering a variety of discounts, including vehicle equipment, driving history and habits, and customer loyalty.

We reviewed your policy for any additional savings opportunities, and we noticed that you are eligible for our Defensive Driver Discount, which could reduce your policy premium by $224.60.

Simply visit geico.com/ddc and select the appropriate state to learn more. If an online course is completed, GEICO will be automatically notified, and we will add the discount to your policy. If the course is completed in a classroom, we will need to receive a copy of the course completion certificate. For your convenience, a copy of your course completion certificate can be faxed, emailed, or mailed in.

We have included our fax number and address below for your convenience. Please make sure that your policy number is included on each page you send.

GEICO
ATTN: Region 2 Policy
PO Box 9506
Fredericksburg, VA [protected]

Email: [protected]@geico.com
Fax: [protected]

Rest assured that we do appreciate your good driving record, and we are considering this information in your rate.

Be sure to visit our discount page online to take a look at the many savings opportunities that we offer. GEICO has been serving our customers for over 75 years, and we'll continue to work diligently to save you money.

Please note that insurance rates are based on many different factors. Therefore, it is impossible to compare your premium to someone else's premium. We base our insurance premiums on some of the following factors. Please note that these factors are not necessarily making your rate higher, but they may contribute to your policy premium.

Your location: Areas are often grouped geographically by ZIP code or territory groups called rating bands. Each location contributes differently to your premium based on the number of reported claims in the area and the population.

Your age: Younger and older drivers are generally more prone to be involved in accidents and may pay higher premiums.

Your vehicle: a vehicle's susceptibility to theft, safety features, and the cost to repair damages can have an effect on your premium.

Your coverages: You may have higher limits or additional coverages that other policyholders do not carry.

Your Usage: Your frequency of driving is a large factor since it has been proven that people who drive more are generally at higher risk to be involved in an accident.

If you have any questions, you can contact us through our GEICO Mobile app or respond to this email. We'll be happy to review your policy with you and continue to earn your business.

Thank you for the opportunity to assist you today and for using our online services.

Sincerely,

Kristy
Your GEICO Internet Team

Km
Nov 15, 2017
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