Geico Discount Auto Insurance - Made this NJ resident very happy.
Written: Feb 17 '08 (Updated Feb 17 '08)
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Pros: Excellent rates, Excellent website, Excellent accessibility, Friendly and knowledgeable service representatives.
Cons: Expect a few emails offering their MasterCard to you, about twice every 6 months.
The Bottom Line: Every dealing I've had with Geico has been positive. Insurance premium has consistently dropped for good driving and auto renewal.
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| nonedude's Full Review: GEICO Direct |
Geico
While you may have seen the “Gecko” or “Caveman” Commercials promoting Geico Auto Insurance, you may not realize Geico offers much more than discounted auto insurance.
Geico also offers the following types of insurance:
ATV, Umbrella, Homeowners, Renters, Condo/Co-op, RV, Life, Boat, Flood, Mobile Home, Overseas, & Commercial.
The Beginning of Geico and I
I have been a Geico auto insurance policy holder since August 20, 2004 (I keep organized files). As a NJ resident, I had to wait until Geico started insuring in NJ. Geico entered NJ as an automotive insurer on 8-16-04.
Source: http://www.insurancejournal.com/news/east/2004/08/16/44978.htm
I wasted no time signing up because NJ car insurance rates have always been horrendous (since I have been driving & prior) and Geico had ads on TV which I would see long before they did business in my state. I would just sit in front of the TV and watch the ads while being an Allstate auto insurance customer and groan.
My wife and I were both over 25 years old, married at the time, perfect driving records and I felt Allstate was legally robbing me of money, and they had poor service and poor accessibility. That is a very long story and I will focus on Geico, since I’m reviewing them.
Immediately upon finding out Geico was insuring in NJ, I went to the website and filled out an on-line insurance quote request form. I was provided a quote within minutes. The cost was right there on my screen without talking to someone first. I could even change coverage options to see how the overall rate would go up or down in cost.
Let’s Talk Money
Remember were talking about NJ and the year 2004 here. I’ll progress to current day.
August 2004 Geico quote (per my saved records):
Geico insurance coverage started in September 2004 due to prepaid policy with Allstate expiring at that time.
2 Cars Full Coverage
2004 Honda Accord (bought in April 04)
2000 Chevy Cavalier Z24
6 month auto insurance policy cost: $1281.90
Coverage Options Defined (as chosen by me):
Bodily Injury Liability:
- Each Person / Each Occurrence - $50,000 / $100,000
Property Damage Liability - $25,000
Pip Med Only Pip Primary – “Option G” (see notes below)
Uninsured / Underinsured Motorists:
- Each Person / Each Occurrence - $15,000 - $30,000
Underinsured Motorist Property Damage - $10,000
Comprehensive $750 Deductible
Collision $750 Deductible
Tort Option: Limited
Notes:
1) Geico only offers 6 month policies in NJ, unsure if this is for all states/territories covered.
2) At the time, Allstate was charging me $3,400 per year with almost identical coverage options.
3) “Option G” under PIP category relates to a combined package of:
Income Benefit of $600 weekly / $62,400 max, Essential Services $20 daily / $14,600 max, Death Benefit of $10,000, and Funeral Benefit of $2,000.
Options range from “A” to “P”, where “A” is the most coverage and “P” is the least coverage.
4) Tort choice is mandatory in NJ for auto insurance. You either chose Full or Limited Tort. Limited means you can only sue for permanent injuries which have been defined by law and outlined in your auto insurance policy in NJ. Full Tort means you can sue for any injury. Both Tort options only apply if you were the victim of a car accident and are suing the negligent driver.
Payment Options
Immediately upon signing up, I found out I had multiple ways of paying for my car insurance.
Example:
Coverage from January 1st -to- June 30th
Pay all at once:
-One payment for full 6 month policy – Due January 1st
2 payments plan:
- Pay half January 1st, pay second half on February 1st
3 payment plan:
- Pay one third on January 1st, pay one third on February 1st, pay one third on March 1st
4 payments plan:
- Pay one quarter on January 1st, one quarter February 1st, one quarter March 1st, one quarter April 1st
6 payments plan:
- Pay two sixths of you total bill on January 1 , one sixth February 1st, one sixth March 1st, one sixth April 1st, one sixth May 1st.
I currently use the 4 payment plan because it best fits my budget planning.
See my real world example of how the one time payment plan saves additional money in the next section.
Payment Methods accepted by Geico:
--BEGIN QUOTE:--
Direct Check via Internet - Direct Check allows you to make a payment from your checking account using the GEICO web site
Debit or Credit Card via Internet - Our system allows you to make a payment using your debit or credit card through the GEICO web site.
Interactive Voice Response (IVR) - Our toll-free automated system allows you to make your check or card payments over the phone.
Personal Check or Money Order - About 2 weeks before each payment becomes due, we will send a bill with an envelope to send your personal check or money order to us
Direct-Pay (EFT) - We will automatically withdraw your payments from your checking account
Recurring Card Payment Plan - GEICO will automatically charge your payments to your debit or credit card according to a schedule that we will send you.
Recurring Premium Payment Plan – If you are a GEICO Platinum MasterCard holder.
--END QUOTE--
The GEICO Platinum MasterCard holders recurring payment plan provides an additional discount to your premium. I’m unsure how much because I don’t use it. I can tell you that I get about two emails every 6 months asking me to apply for a Geico MasterCard.
Remember, auto insurance policies run 6 months at a time and they will auto-renew unless you cancel.
Present Day Geico Policy Holder
I gave you some past information like what brought me to Geico, how I was held back and overcharged, what I was previously paying, my coverage options and cars insured, etc.
Let’s fast forward in time.
As I kept automatically renewing my Geico Policy (simply by not canceling it) and keeping a clean driving record, guess what? My premiums kept dropping!
Remember my first policy was $1281.90 per 6 months in 2004.
Present day, it’s $907.60 per 6 months
If I opted for the pay in full (one bill) option, I would only be paying $891.60 (saving an additional $16)
I made one minor increase, not decrease regarding auto insurance coverage – I changed PIP Coverage from option “G” to Option “E”.
Remember I said Option “A” is Best and “P” is Least, “E” is closer to “A” and provides better coverage.
MY CAR INSURANCE COST DROPPED $374.30 (to the penny) per 6 month policy over the span of about 4 years now!
I made no decreases in coverage and I did not apply for any additional discounts, it just dropped over time for remaining a good policy holder.
My Accident
I drive for a living, my job entails using my personal car (Honda Accord) every work day (I’ve called out sick Zero Times in the past 4 years). I drive often and I drive a lot. I travel to many different municipalities in NJ, specifically researching property tax information.
I am at high risk for an auto accident due to nature of my job and of course it happened to me on the job.
In April of 2006 I was in a car accident. It was lightly raining outside and I was at a full stop waiting for oncoming traffic to pass so I could turn left into a municipal parking lot. While waiting, I heard screeching tires behind me and next I felt a thud before I could look in the rear view mirror. I was whacked by a Plymouth Breeze Sedan at low impact (guesstimate 5mph). My car had some deep scratches and rear bumper was slightly bent upward on driver side where it meets the edge of the “wheel well”, quick look at the Breeze and I saw it took more damage from the impact on it’s front end with a wrecked headlight, damaged front bumper, and hood pushed upward.
What upset me more than the damage to my car was the fact that a mother driving her infant child was at fault, while 2 cops witnessed everything. Remember, I was turning into a municipal parking lot. One cop came right over, and quickly completed the police report. I thank the lord that the infant was not hurt (or mother or myself) even though the accident was not of my doing.
I informed Geico of the accident by calling them. They requested a copy of the police report and said they would take it over from there. I got the report a few days after the accident (standard procedure) and emailed a copy to Geico. They promptly responded by contacting the other drivers car insurance company. A Geico representative called me back to let me know the scoop. I was informed that my vehicle would be repaired in full at the expense of Liberty Mutual (other drivers insurer) and that I would only have to choose a preferred auto-body shop listed in Geico’s database and forward the bill to Geico. I chose a well known auto body shop in my area which was associated with Geico. Waited three days for the shop to fix the car because they needed a part. Picked the car up and immediately submitted the bill to Geico; they handled payment through third party insurer (Liberty Mutual). At no point during or after repairs did I put out any money. My rates did not increase either, of course they should not have since I was not to blame, but just thought I would mention.
Almost two years after the accident, I can still view the claim when I log on to Geico’s website if needed.
I was extremely happy with Geico’s handling of the claim; they did most of the dirty work. The body shop did a first class repair job in making my car look brand new again. The cost of repair was $1,100 dollars to fix and I paid nothing as described above.
The Geico Website
The website is well designed in appearance and easy to use. Login information is handled via a secure server.
Members have access to policy documents online (print or view), proof of coverage documents, billing statements (past & future), make a payment on-line, enroll in automatic payment plan (not necessary), change policy options (hypothetical for research or make instant changes), add drivers, remove drivers, change contact information or billing address, change password, submit or track an insurance claim, informative articles and calculators, A frequently asked questions section, etc.
I truly believe anything you can do by phone or mail can also be done on Geico’s website. I have spoken with Geico representatives on very few occasions and they were always helpful and friendly. You can call and speak to a representative at 2 am on Wednesday morning if you need to, because they are open 24 hours a day / 7 days a week.
While logged in to Geico’s website as a member, after approximately 15 minutes of inactivity you will be automatically logged out. This is a security feature, which many online banks also employ.
You can go “paperless” with Geico. Meaning you would have your bill and documents emailed to you. I get bills and documents physically mailed to my home and also receive email reminders.
Added Bonus:
Geico members get access to “Geico Privileges” by going here:
http://www.geicoprivileges.com/
which will redirect you to:
http://www.geicoprivileges.com/members/home.php?sid=26XXdKrlo26&popup=t
Note: GEICO Privileges is not currently available to Ohio residents
Geico policy holders must opt-in to access the member section of Geico Privileges. You will have to create a username and password upon opting in. You can use the same login credentials you have for Geico’s main site or you may create a different username and password.
Geico privileges offers discounted rates on many services and products, like:
Jewelry, Income Tax Preparation, Hotels, Car Rentals, DVDs, Flowers, Fragrances, Shoes, Office Supplies, Steaks, Sears Hardware, Vacations, Travel Services, Books, Home Burglar Alarms, Pets, Camping, and on and on.
You don’t have to be a member to view which discounts are offered, just go here:
https://www.geicoprivileges.com/members/benefits.php?sid=26XXdKrlo26
If this link does not work, go to the Geico Privileges site listed prior and click on “All Offers A-Z” button on the top left of your browser window.
Cons
I have experienced really no significantly annoying cons as a policy holder for (almost) 4 years. The only one I can think of is the occasional email from Geico trying to get me to sign-up for their MasterCard offering. No big deal because I just delete it.
Ultimate Opinion
I have been extremely happy with Geico’s service from the very beginning and am still utterly happy. My rates have been steadily declining over time as a good driver (without making any decreases in policy coverage). Geico was very professional in handling my auto accident and I appreciate the fact I can contact them 24 hrs day / 7 days a week (toll free). I can also email and fax them and accomplish just about everything I need through their website. The website is also extremely well designed and easy to navigate.
I must provide Geico with a 5 star rating (of 5 possible). Any big company will have its fans and detractors. I gave specifics on my experiences and found nothing wrong. You rock Geico, now bring back some of the funny commercials because the recent ones are dumb.
Thanks for reading my review!
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Thanks,
Mike
Recommended:
Yes
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Epinions.com ID:
nonedude
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 - Top 1000 |
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Member: Mike
Location: Glassboro, NJ
Reviews written: 81
Trusted by: 15 members
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