Geico Cancelling You ?

[Gulfman]

Some friend of a friend claimed that "Geico dropped her" for making "too many claims??? ***I can imagine this happening for having too many accidents but having "too many "claims...???" ----Geico drops you ? ? ?

I have Geico now (had them for several years now), and almost once a year some *** will do a "Hit and Run" on me (where i come out and find my car has a ding in it). This has happened now for the past 3yrs. (drivers are getting worse down here in s.fla).

1. IN MY CASE, would hit and runs be counted as a Claim against me?
2. Geico just renewed my contract so, i'm not sure if something happens again, they could just randomly Cancel me...?
3. Anyone know about these types of situations?



~Thanks~

 

[VolAgent]

Terminology...

Odds are, she was non-renewed not cancelled. They simply refused to offer another policy at renewal. While it seems like semantics, there is a difference. The ability to cancel a policy mid-term is very limited. However, baring a clause saying otherwise, there is no requirement the company renew the policy.

1. Sort of. Even though it isn't your fault, it adds up. And if it is frequent, they may decide you are engaging in behavior that makes claims more likely.

2. This is state specific, however most states have a rule regarding cancelling after 60 days. In most states, unless their was fraud or material misrepresentation, the company cannot cancel the policy after a certain period, 30-60 days. Read your policy on this one.

3. It definitely happens. Particularly when it comes to standard or preferred carriers. It all depends on how often and how bad, particularly if several recently. Also, how long as the person been an insured, and was the policy written correctly?

 

[Gulfman]

Terminology...

Odds are, she was non-renewed not cancelled. They simply refused to offer another policy at renewal. While it seems like semantics, there is a difference. The ability to cancel a policy mid-term is very limited. However, baring a clause saying otherwise, there is no requirement the company renew the policy.

1. Sort of. Even though it isn't your fault, it adds up. And if it is frequent, they may decide you are engaging in behavior that makes claims more likely.

2. This is state specific, however most states have a rule regarding cancelling after 60 days. In most states, unless their was fraud or material misrepresentation, the company cannot cancel the policy after a certain period, 30-60 days. Read your policy on this one.

3. It definitely happens. Particularly when it comes to standard or preferred carriers. It all depends on how often and how bad, particularly if several recently. Also, how long as the person been an insured, and was the policy written correctly?

Thnks Vol,

I don't know the circumstances with her but, it sounded weird (who knows). Maybe she was charged with too many accidents, but that's not the case with me.

1. Well, they know where i live. I'm in the badlands, s.fla, Hugh metropolis of 7 m ppl. Its so bad down here that i sold my motorcycle and took up fishing. PPL down here like to text, drink-n-drive ---at the same time.

2. I have had the same policy for over 10yrs (same company---Geico). Over the years i've had my share of accidents, however, i was never charged with one. ALL OF THEM were hit and runs where i was not even in the car. PPL don't leave a note,...they just take off.

3. My policy is written with the lowest deductible. I count on some *** banging my car and leaving a dent....that's just the way it is in the big city. I drive with the traffic and avoid tailgaters.


ANYWAY, my concern was being cancelled to filing too many claims over the years. I don't cause these dayum accidents...they just happen.

 

[VolAgent]

I have no idea what criteria Geico uses to determine non-renewals. There are some former Geico agents on here, even some from South Florida. Perhaps one of them will chime in.

 

[InsCommentary]

Having a claim every year, whether it's your fault or not, is likely a red flag.

 

[Gulfman]

Having a claim every year, whether it's your fault or not, is likely a red flag.

Do u work with Geico?

 

[InsCommentary]

Only if they needed information on euthanasia.

 

[VolAgent]

Do u work with Geico?

https://insurancecommentary.com/

I wouldn't call him a fan of the lizard or any other direct writer.

 

[InsCommentary]

I don't have anything against direct writers per se as long as they're selling a decent policy and doing due diligence to help prospects and insureds identify and manage their risks of loss.

Too often, counterfeit products (inferior products purported to be the same as legitimate products) are being sold to gullible, misinformed people for the purpose of generating cash flow for the insurer and investors as quickly and efficiently as possible.

At some point in their advertising, you've heard "Flo" at Progressive Direct tout their auto product as "You get the SAME COVERAGE, often for less" or "SAME COVERAGE, better value." It's NOT the "same coverage." You can get better coverage, often for less elsewhere from good agents who focus first and foremost on the coverage, then on the price.

The overall value is greater and the odds of an uncovered serious or catastrophic loss are less when a knowledgeable and empathetic agent serves as a coach and advocate. That's something you simply don't get in most cases with direct sales organizations.

 

[Gulfman]

Only if they needed information on euthanasia.

i GUESS we can conclude that you don't hold a policy with them (sigh).