ED Magedson – Founder
Geico1 Geico Plaza, Bethesda, MD 20810 Internet United States of America
UNFAIR RATE INCREASES
This company Geico said that they lower the rate of your bill when you are a good driver without accidents. In the last year Geico has been raising the amount of your bill with nothing to base their increases on. And these are exuberant increases. When they are questioned their answer is: "you recieved a letter in the mail informing everyone that we were increasing your bill." So what you informed us. What is the increase BASED ON. Especially when they souped me into signing with their company by promising that my rates would "decrease" as long as I kept a good record with no accidents. Well, it started out good and each payment period my bill was decreased. But now Geico is allowed to flip a switch and decide to now go in the other direction and increase my bill?
What I want to know is, is this a breach of contract between company and the insured? We are talking about a company that advertised and bated clients saying that they "reward" you by decreasing your monthly payment when you don't have accidents. This is years of establishing myself with this company in order to keep the amount of my insurance down. Look how they wasted my time. I could have been established with a different company who were giving me the same service that Geico said that they would. They even had the nerve to say "other people" were having accidents that they had to pay off. What does this have to do with me? Aren't they in the insurance business? Please respond "legally" if possible. Something is not right here. My increase is now up to $30.00. Every time they renew, they increase and I'm paying and paying for someone elses gain. The usual proceedure was to increase the amount of those who had the accidents. Why don't I decide to tell my boss to now pay me for staying home instead of paying me for coming to work. Who is letting Geico get away with this. Does the government know about Geico's business practices and how they rip off even their best customers? Come on now!!!
This report was posted on Ripoff Report on 12/29/2009 05:17 PM and is a permanent record located here: http://www.ripoffreport.com/reports/geico/internet/geico-unfair-rate-increases-internet-547098. 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.
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