[mathprof]

I guess this explains the "good news" about my auto insurance savings when I switched to GEICO last year (I have a PhD).

[BunnySlippers]

I live in Hollywood and am insured with Mercury.

I have been told while shopping around, that no other area is as bad with the exception of Compton. I am under the impression that rates are determined by crime stats here in CA.

And, yes, my lovely new sportscar was stolen some years ago in front of my BF's house.

[P-Marlowe]

Under Geico's guidelines, he said, a New Orleans factory worker without a high school education would pay $2,636 for insurance, 91 percent more the $1,382 that a white-collar worker with a graduate degree would pay for the same vehicle and location.

Cool!

[HangnJudge]

Sorry, I do not understand this

Geico sets it's own criteria for establishing
Costs of insuring various groups, as it defines them

They then set their rates to a point were their
estimated rate of return on investment is sufficient
to permit their business model to propagate

Individuals can purchase, or not, their product for
any reason they perceive to be in their self interest

Capitalism 101

[PLK]

It's called ACTUARIAL SCIENCE. Predictive models are derived by insurance companies that can determine risk based on the insured's personal data.

Tough to swallow, but that's life. Same reason 17-year old boys have car insurance rates through the roof. Same reason we provide proof of our kids' being on the high school honor roll and college Dean's lists to get discounted rates.

You cannot argue with the statistics. And let's pray that the socialists never get this method of determining insurance rates equalized among EVERYONE. Cuz you and I will pay for it!!! Big time!

[Ditter]

Yeah,and I'm sick of that stupid lizard too.

[msnimje]

You mean it is not like free "pie and chips?"

[Tamar1973]

Most states require that insurers file papers explaining their underwriting critera in excruciating detail. If the criteria is illegal based on the state's statutes, the state Dept. of Insurance can tell them to go back to the drawing board and come up with other guidelines.

These folks are simply fishing for lawsuit money. Period. They are circumventing our elected representatives and the executive branch by appealing to the liberal judiciary to get what they know they can't get through the legislature or via the court of public opinion.

[birbear]

I just compared rates on Geico.com.

I would save a little... not a whole heck of a lot... by switching.

But I like knowing that I have an agent a block away who has helped me before. Maybe if I moved to a different locale, and I'd have to find a different agent anyway, I'd switch.

[aft_lizard]

I had Geico many years ago and thought I was getting a steal on insurance then I switched to this company called Amica and I had my insurance bill cut in half for having a perfect driving record, I will never return to Geico again. I had a 2001 Ford F150 and paid 1200 a year on full coverage with 500 deductables across the board, Amica was a little over 650 and with just the 250 deductable, now my liabilty on the same vehicle is just 300 for a year.

[inkling]

When I first signed on with GEICO (I was in my early 20s), their rates were incredible. But over the years, they kept raising the rates a little more each time I re-upped. When I challenged them, they assured me it was just because the Zip Code I lived in had a lot of accidents.

Finally, 10 years in I decided to check with a few other companies. That was when I found out that GEICO was completely ripping me off. They undercharged me to hook me in, then raised the rates exponentially over the years.

Being young, dumb and single I didn't notice it, but I'll never recommend them to anyone.

[GarySpFc]

[Moonmad27]

Satisfied Geico customer here who likes the low rates a lot (and who still can't understand why the Gekko sounds like Michael Caine's character in the movie Alfie).

[dangus]

Hahaha! The "Government Employee's Insurance COmpany" discriminates the poor and under-educated! If true, I suppose I should find it sad or angering; it's just the extremity of the hypocrisy is just TOO funny!

Btw, I used to be insured by GEICO. I switched to All-State. They did manage to beat GEICO's prices, but I was more offended that GEICO did not care to investigate (or accept my assertions on face value :^D ) when I was the victim of someone ELSE'S bad driving, but that person was just a little more savvy in manipulating the police report.

She had become impatient I guess with my slow driving just after I pulled away from the sidewalk, and tried to pass me on the left on a narrow, residential street. She ran out of room between me and a car parked on the opposite side, and ended up scrunching into my driver's side doors. She had alleged I had hit her while pulling away from the curb. No knowing that, when the police asked me if I just pulled away from the curb before being struck, I had answered "yes." But I had photographic proof showing her broken headlights sprayed on the left side of the street, and how far away that was from the only open curbside room for parking.

Incidentally I like the little gecko. And even the prissy, bitchy cave man using an Apple ("I just lost my appetite.") What I hate are the "I've got good news" commercials. I mean, it's a little talking gecko. How can you not like a little talking gecko?

[WoofDog123]

my car was insured with geico in fl for many years, and the minute i compared rates in 2004 I found they were more than 200% higher than allstate, 100% more than several others.

Others in FL have said they find geico far more expensive than major competitors.

[Fresh Wind]

I used to have insurance with GEICO, but I dropped them because I saved 15% by switching to another company. I checked their rates again not long ago, and they were still higher. GEICO could drop their rates significantly if they would cut back on the endless, obnoxious advertisements. They probably chase away more customers than they pick up that way.

[BooksForTheRight.com]

Why is this a surprise? The left is pushing us toward a collectivity which sets prices and rates for everyone and makes them the same for all except a rich privileged elite class.

[R. Scott]

…resulting in discrimination against minorities and lower-income people.

I’ve been with GEICO for several decades and have had no complaints. While I am low income (retired Army), I’m not yet a minority.

[School of Rational Thought]

The article is inflammatory without describing how Geico evaluated the risk.

There are generally three scoring systems, application, behavioral and predictive. The last time I looked the most advanced algorithms were "genetically" engineering. That is a high falutin way of say they are constant self-learning, changing algorithms based on curent experience and adding and eliminating factors for a best fit. While I don't know what Geico uses, in this day and age Geico should easily be able to demonstrate their innocence. The political blackmail is a different story.

[Doohickey]

All other insurance carriers didn't suddenly go belly-up, did they? Is GEICO a monopoly now?

I heard that they also *gasp* use age and driving history as weighing criteria too! The cads!

[Lx]

I used to have Geico until 21st beat them. Geico, on a whole was a great company to deal with but they couldn't beat 21st and they even said so.