Report: #91666

Complaint Review: Geico General Insurance Company

  • Submitted: Sun, May 16, 2004
  • Updated: Thu, September 15, 2005
  • Reported By: Dexter New Mexico
  • Geico General Insurance Company
    One Geico Plaza
    Washington, District of Columbia

Show customers why they should trust your business over your competitors...

I have been with Geico for over 5 years. I just found out out that I have a lapse in coverage, eight days late. My fault! However, when trying to correct the mistake I was told that I have to have a new policy issued.
I have a clean driving record and my policy for two vehichles increased by $286, just for eight days in lapse of coverage. I was already paying over $500 every six months.
But this isn't the first time I have been shafted by Geico.
In 2000 my vehicle was stolen and recovered. Geico only paid half of the value of my loan. They said it was due to the fact of the value of the vehicle. Again, it was their price tag they put on the value. Then they subtracted $500 from that value for our deductible. It was not my fault that the vehicle was stolen, but I had to pay the deductible. Then after they recovered the vehicle they were able to sell it and make money from the sell of the vehicle. So they were not out $6700. I can not find out how much they sold the vehicle for but I would like to know. I owed $11,000 on it. I had the vehicle insured for $16,000. I am still confused how they ended up with the vehicle, because I can not remember signing the title over to them.
During this time my wife's grandfather passed away in California. She did not have a vehicle to drive. She called Geico to get a rental, but was told that we were not paying for it. When adding a new vehicle to the policy she found out that she did have the capablitites to get a rental, we were paying for it the whole time.
Another mishap when I took my family on vacation I had my back two tires slashed. I called to report it to Geico and was advised not to report it because it may make my policy go up and getting the two new tires would be less than my deductible. I have had several little things go wrong like this that I just paid for instead of reporting to Geico. So why again do we have insure?
So I will be changing my insurance carrier today. I will just pay someone else to screw me! Thanks for listening. I wish I would have heard about this site sooner. How can we stop Geico from doing this?

Roswell, New Mexico
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This report was posted on Ripoff Report on 05/16/2004 10:48 AM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 UPDATE Employee

response to jessie

AUTHOR: Joe - (U.S.A.)


Its unfortunate you think Geico is "out to get you". That is certainly untrue and we pride ourselves on being a fair and ethical company. When your policy does cancel, as you stated, your fault, that does cause a lapse with Geico and with the state of New Mexico as well. Even though it was only 8 days, it was still a lapse of insurance. We do have to restart the policy and sometimes that means a higher premium in doing so. We do try to help the cutomer as much as possible, but there are guidelines and rules we have to follow as well. One thing that you might want to consider doing to avoid a cancellation is having your funds withdrawn every month automatically. That way you don't have to worry about it not getting to us, it will avoid the cancellation notices and will avoid having to restart the policy. I hope this helps. Take care.
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#2 Consumer Comment

Let's ban opinions we don't like

AUTHOR: Robert - (U.S.A.)

That's the ticket. Let's only read/hear opinions we agree with. That's how things are supposed to be.
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#3 Consumer Comment

This guy David uses several different names & he works for GEICO

AUTHOR: J - (U.S.A.)

This guy David uses several different names and identities to rebut all complaints against GEICO , he should be banned from the site . Works for GEICO
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#4 UPDATE Employee

I'm going to answer your questions from A to Z.

AUTHOR: David - (U.S.A.)

Number one: When you were late with your payment, they had to reissue your policy. When GEICO reissued your policy, it was through a new system that automated the policy number. Your old policy started with a number than a letter, or two letters, the new system is 9~10 numbers long. In short, you would have had your policy number change no matter what, if you would have renewed or reissued.

Number two: This is a HUGE misconception with the general public, and a big topic on all of these "Fight Bad Insurance" sites. First, you stated you insured the vehicle for $16,000. Not true. Insurance values depreciate just like the car does. It might have cost you brand new $16,000, but when you drove it off the lot, it was down to $13,000 or so automatically. The way almost ALL insurance companies pay out for total losses is they do a market analysis of your area. They take what 5 other vehicles of your make and model sold for, and stroke a check for the average amount minus the deductable. Again, common practice. Oh, and you signed an agreement that if the vehicle was ever recovered, that the insurance company becomes the owner of the vehicle. By the way, your vehicle was stolen and not recovered in a timely fashion, how good a shape do you think it was in? I've been to many insurance auctions, the vehicles are mostly sold for parts, at a huge loss, trust me.
The rental car thing I cannot tell you. I would assume it is due to the fact that a rental car is to be used for what you would do on a normal day to day basis, not drive hundreds of miles for a funeral in another state. I don't believe you are supposed to take rental cars due to a comp or coll loss out of state.

number 3: The customer service rep was right to suggest you to pay for it out of your pocket. Two tires are less than $500, plus a vandalism claim against you could raise your rate as it could prove that you a)live in a bad area b)show that you park your car in bad areas c) are a bad driver that causes road rage that causes people to slash your tires. Hey, it happens, my wife cut off a guy, he followed her into a parking lot, and slashed her tires when she had exited the vehicle. Those things I mentioned above are called statistical data. Again, ALL insurances use actuaries that do nothing but look at statistical data all day and come to different conclusions about rates, risks, etc etc.

number 4: Several little things that you have not reported to GEICO.... Thats the thing, you don't report small things to your insurance company. Lets do the math here people. The average household pays $800 in six months for car insurance. Thats $1600 a year. Thats $8000 in 5 years. A low cost vehicle today costs $10,000 and up. Yes, you might have a great record, but Timmy the wonder idiot does not. Timmy happens to have the same insurance as you. Timmy wrecks a brand new car every two years. Now, take Timmy, and multiply him by a thousand. Take you, the good driver, multiply you by a thousand. Which one ends up more in dollar amounts, you or Timmy the wonder idiot? Now, if you, the good driver start tacking on all your "little" things, the insurance company needs to adjust their rates to make sure they stay solvent. Understand? Probably not, since your at a website that mirrors the BBB complaining. By the way, instead of going to cry baby sites like this, try going to the BBB site and see how many valid claims there is against this and any other insurance company.
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#5 Consumer Suggestion

They are nice, always are friendly

AUTHOR: Elizabeth - (U.S.A.)

I have been with progressive for 6 years now. I pay half of what any other company has quoted me. I am under 25, not married, and don't have kids. I have full coverage on 2 cars (one 2000 jetta and one 1998 Mustang) and my fiance is also on my plan. Our deductible is $500. We pay about $600 every 6 months. We don't have any tickets or violations either. Gieco quoted me $1200 for 6 months! However, a family member who has some accidents and is much older pays about $900 every six months for just herself because of her accidents. I'd definitely call up progressive though. They are nice, always are friendly, send me checks if I ever get overcharged and I don't even know it! I also was hit by someone with progressive once and they were so kind to me. Very fair as well.
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