24 answers

Why Is Geico So Cheap?

So we are looking at various bills and providers to try and lower our montly bills and one of them is car insurance. Right now for our 2 cars we pay about 480 every 6 months with Allstate, and I got a quote from State Farm and it was about 600 every 6 months. A little higher but still in the same ballpark, but then I get a quote from Geico and they say it will be about 26 a month so 160 for 6 months! What? Not even close to the other places, makes me distrustful of them! LOL! Anyone with experience with them and why are they so cheap?

1 mom found this helpful

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did you compare the coverage side by side? Do they have the same amount of coverage for collision? Medical? ect? The cheap quote might be for bare bones coverage with a high deducible.

2 moms found this helpful

We had Nationwide and it was going to go up to about 240 per month ( we both drive lease cars, so we have to have to have the highest coverage)... We switched to Geico and pay 168 per month now... Never had an issue (knock on wood)...
My husband got hit from behind and the person had Geico as well... Within 4 weeks, car was appraised and fixed. No issues~

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That sounds like an error somewhere in the paperwork. Double check all the numbers (the deductibles, the amount of coverage, uninsured motorist coverage, everything).
FWIW, we've had Geico for YEARS... seriously..husband used them before we got married and then we added me/my car onto his policy when we married. So...for almost 15 years we've BOTH been with them. We've had several claims (hit a deer, over $2,000 in damage; windshield cracked from a rock more than once; hubby scraped the side of a friend's vehicle backing out of a cramped driveway in my vehicle that is much bigger than what he usually is driving--they paid for all the damages; hubby was hit head-on by an uninsured motorist last year--they had us in a rental that same day and paid for it for 3 weeks, plus complete repairs to hubby's car (over $6,000 in repairs)--all we had to pay was a deductible of $250 due to it being uninsured motorist and the other driver was at fault--they sent us a check as compensation for my husband missing work and having to use his sick leave to go to the doctor). I have ZERO complaints with them. And yes we HAVE filed claims and they have handled them without hassle. Didn't even raise our rates after that last incident (the head-on with an uninsured motorist).

4 moms found this helpful

At that prices you are not getting enough coverage for anything. Plus is sounds as if you have liability only with this quote. Make sure you have the coverages you need or you will not be covered in certain types of losses.

2 moms found this helpful

did you compare the coverage side by side? Do they have the same amount of coverage for collision? Medical? ect? The cheap quote might be for bare bones coverage with a high deducible.

2 moms found this helpful

I would double, triple and triple again check that before I signed on. Sounds too good to be true.

You may have the minimums required by state and then if something happens you are screwed. Read the fine print.

Our 6 month car insurance bill for 3 high end cars (mercedes), low miles (1 sedan, 1 sport luxury convertible, 1 coupe) and 1 teen driver with deductibles at $1000 each, and max coverage runs about $2000/6 months. We get a discount on that because we pay in full vs making monthly payments.

Sounds something has been left out OR you'll be hit with a higher bill the next time.

2 moms found this helpful

I agree with the advice you've gotten. Reread that quote carefully. I've never had Geico, but my husband was hit by one of their insureds resulting in a total loss and they were horrible to deal with! They were unprofessional and tried to lower the value of our vehicle claiming that our car was dirty on the inside due to my husband having a NEWSPAPER in car at the time which fell to the floor after he was slammed by their insured. We had to argue with them over that to get them to give us what we deserved! To top off their bad service, they had the nerve to use our info to add us to their mailing list without our permission. They suck.

1 mom found this helpful

It probably includes next to nothing, and they jack your rates up after 6 months. Progressive does the 6-month bait and switch as well.

1 mom found this helpful

When I looked into car insurance last year, Geico actually came out higher for full coverage and about the same as State Farm for liability. I get a multiple discount since I have homeowners with SF so stayed in place there. I am paying about $140 for liability only and full coverage for my husband's SUV is about $360 or something like that so I would check into that again.

We once did switch to Farmers and it turned out to not be the same coverage so went right back to SF.

1 mom found this helpful

I think you need to double check your quote ... I have them, mine is a reasonable price 125/mo and I have had them for YEARS but I have never needed to make a claim so I have not had to deal with that side of the business, been 4yrs.

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