General topics » Now...the subject of insurance...a surprise

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#1 | Now...the subject of insurance...a surprise datum

Wed May 24, 2023 1:46 am

So, I just got my insurance renewal notice from GEICO. My rate was quoted, when I bought the RS, at $752 per year. When the renewal notice came today, it was $931. I immediately called and asked...why the increase? The answer was a vague, "The economy...difficulty getting parts...blah, blah." Right...

So I called my home/auto company and asked if they did motorcycles (Liberty Mutual). Turns out they do...with their SAFECO subsidiary. "So what kind of rate can I get, with the same coverage?" I asked. Agent went over coverage with me, did some other stuff and replied, "$444" per year. "That's less than HALF what GEICO wants...are you sure?" "Yes...", he said. I said, "Do it!"

So, if your existing insurance company renews you at a much higher rate, just remember...there are other companies who want your business!

Insurance premiums, food, taxes, medical costs...everything is going up a lot. How do most people with kids, dogs, streaming subscriptions, smart phones, cars and tiny savings accounts getting by? Boggles the mind...

these members like the post: Dave H and Duckbubbles

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#2 | RE: Now...the subject of insurance...a surprise datum

Wed May 24, 2023 2:39 am

In the UK, I pretty much got used to shopping around at renewal time each year. Sticking with the same insurer could be costly as in your case.

We have had new regulations to say existing customers should be offered the same price as a new one. It seems that after 3 years, this has started to actually happen. I let my car auto-renew in Dec 2022 and my RS will auto-renew next week. 91 quid, bloody rip off Britain.

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#3 | RE: Now...the subject of insurance...a surprise datum

Wed May 24, 2023 4:38 pm

Zitat von wessie im Beitrag #2
pretty much got used to shopping around at renewal time

It's the same over here. Usually, the best deal is when you bundle several (homeowners, cars, etc.) policies with one company or independent agency.

Old Forum Orphan

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