Hua? 15 thousand dollars per year!?!?!?!?!?!?
Written: Apr 02 '00
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Product Rating:
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Pros: According to what I hear, it works well for low risk people.
Cons: 15k per year!!!!!
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| skyth's Full Review: GEICO Direct |
Its commercials on TV and online make it seem like Geico will save you on insurance money. That maybe so, if you are over 25 and have a low insurance car they probably will save you money. Unfortunately, if you don't meet their criteria, Geico will charge you twice as much for insurance.
I was paying 2.4k on my last car with Farm, it was a large sedan and I had gotten into one accident, and also had gotten a speeding ticket. Of course, where you live also makes a major difference. I was living in Brooklyn, NY. Its a high accident risk area, and I was 21 years old at the time.
When I decided to buy a new car, I realized I want something speedy. I was either going to buy a Mustang SVT Cobra or a Firebird Trans Am. Both cars are the top of the line on the Mustang and the Firebird with 300+ horsepower. High insurance was something I was willing to risk at this point. This will seem crazy to you, but a Mustang GT in my area has an average of 4k insurance. I figured Cobra would be somewhere near that.
Welp, I found a decent price on both cars -- about 25k for the Cobra and 26.5k for the TA. Before I bought either one, I decided to call up my insurance company and find out how much I would have to pay. It came down to about 6k. My agent told me to call up Geico, as they might be able to give me something better.
After spending 30 minutes answering all the questions. (How old are you, how many accidents, how many people drive in your family, how many accidents on those drivers, how many tickets, how many tickets on your family, etc. etc.) The lady told me to hold on. About 5 minutes of waiting, she said to me '7460$' -- which made me giggle a bit. Then she added, 'for 6 months'. At this point I burst into uncontrollable laughter. They were asking me for the price of the car on a yearly basis! I could open up my own dealer within 3 years with that money!
So I called up Farm and got a reasonable 5k rate. Well, not so reasonable, its still outrageous, but given the cars and my not so great history, it was ok. I didn't go for either though, 5k is still a crazy amount of money to pay. I bought a Formula, and the insurance on that was 3k.
Geico might indeed save you money if you are a low risk person. But, if you are under 25, and if you want to buy a sports car, I would say look elsewhere.
Recommended:
No
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Epinions.com ID:
skyth
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 - Top 200 |
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Member: sky lar
Reviews written: 193
Trusted by: 339 members
About Me:
Skyth misses old Epinions -- where men were men and the sheep scared.
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