East News
Viewing comments for:
GEICO Returns to N.J. Auto Market
East News • August 16, 2004
New Jersey state officials this morning announced that GEICO has "good news" for state residents. Beginning today GEICO will be selling private passenger automobile insurance in the state.
"This ...
Insurance Journal is not responsible for the content of the message below.
| Subject | Posted By | Posted On |
|---|---|---|
| Nick | j | Apr 30, 2006, 4:58 pm |
| SweetHeartDeal | Nick | May 20, 2005, 9:54 am |
| RE: RE: geico back to nj | SuzanneG | Nov 6, 2004, 11:20 pm |
| RE: RE: RE: geico back to nj | Chad | Aug 18, 2004, 9:05 pm |
| RE: RE: geico back to nj | J | Aug 18, 2004, 1:34 pm |
| geico returns to NJ | Giovanni Romano | Aug 17, 2004, 3:24 pm |
| RE: geico back to nj | PJ | Aug 17, 2004, 7:06 am |
| RE: geico back to nj | NoGEICOinNJ | Aug 16, 2004, 7:31 pm |
| geico back to nj | Lowell Tuttle | Aug 16, 2004, 11:24 am |
| Back to article | ||
Subject: SweetHeartDeal
They could use credit as a basis to rate when others could not.
They were exempt from 'take all comers'. (Take all comers is going away, but is not gone yet).
They were allowed to do things the companies already in the state could not. There are sweetheart deals, whether we know about them or not. I am sure Geico got some concessions. Politics as usual as someone else said.
Geico usually quotes low limits ($15/30/5, $15,000 PIP) unless the consumer asks for higher. I feel this is a disservice to the customer. Many people like saving that 15%, but what is the potential cost? Their home, if coverage is not sufficient to cover a loss.
There is also the idea that a young person with no home needs lower coverage...but what happens to that person when he/she puts someone in the hospital and has $15,000 in coverage?
Nick