maybe your company should file the discount as a group just like commerce did. Oh wait they dont want to be forced to accept business they dont want just because of a motor club. Does it realy matter after all as the prevoius poster comented they will hardly be in the top 10 in a few years. Athough the new parent company does have quite a bit of money to put into competing. I will say what really has me bent is the fact that im an ERP with a loss ratio in the 40’s and still cant get an appointment, and why might you ask, because companies are afraid to get a new ERP as a result of appointing one voluntary. The games contenue for another year.
YEAH, MS BURNS GOT IT RIGHT LET THE MARKET SET THE PRICE. MASS HAS THE 4TH HIGHEST RATES IN THE COUNTRY AFTER NY,NJ AND DC. I HAVE $10 THAT SAYS IN 3 YEARS THE WILL NOT BE IN THE TOP TEN. SHE GET IT.
It’s almost a free market. Our company filed their rates and have been told that they and 3 other companies must remove the “motor club” member discount in order to be approved!!! It appears only Commerce can give discounted rates for people who belong to AAA… our company cannot give them a discount… how’s that for a free market and competetion? There are other motor clubs besides AAA but that doesn’t matter to the MA commissioner… go figure!
problem – how come only 1 company w/aaa for motor club? sounds like a lawsuit pending – this does not give equal opportunity for insurance. so why is company more special than the other? i think this needs to brought to the attorney general and see if there are kickbacks to these folks because of aaa motor club. if so, then that is WRONG!
There’s no such thing as a free market – except in a college economics class. Interesting that NJ is still in the top 5 most expensive states even with a “free market” and GEICO,State Farm, etc. in play. MA will ALWAYS be an expensive state for auto insurance. We’re just moving “middleman” money where it benefits the local economy into the advertisers pockets and to Warren Buffets bottom line. This is a huge power shift where insurance companies gain the power and consumers lose. It used to be insurance companies would look for coverage – now they look for ways to deny claims. I hope the consumer enjoys their 10% – 15% “savings!:)
1. geico currently does not operate insurance in mass. so we are not making any more money there, nor in warrens pocket!
2. geico has only been back in NJ for approx 3-4 yrs. so competively we do save many folks on insurance.
3. if mass wud loosen up the restrictions, we might move in and then they might get really good competitive rates.
4. if the state only allows an ers only if you have aaa, then that is biased and that sounds like a definate kickback either from the company or aaa. that is not a competition of the market when you deny others of similar service to compete. is aaa better than other motorclubs? not really – in most cases you are limited on the amount of times you can use the product. most of the discounts you recieve, you now can get on your own w/access to the www.
so who is fooling whom here? i think the local government is testing the waters but the wrong way and only truly helping themselves to still maintain control of the market.
Govt will always have trouble giving up power over anything. Rem Hitler,etc.
2.Most standard companies have better rates than Geico, yet the pr is excellent and folks beleive they are less. Their model, unless non-standard, is reduce coverage to reduce rates. Pretty brilliant.
Warren is brilliant. Good marketing.
3.If it holds, MA will be better.
you mean if we would loosen up to alow gieco to dicriminate against low income families. Why does gieco need to discriminate to make money, 19 companies make a profit here with out doing so.
Gieco has nothing but a lizard and preying on the lack of knowlege of consumers. Progressive isnt much better.
PR is all they are, and the notion that the 15% is because they have no agents is insane, advertising isnt free. Heres a quote from a Gieco rep “mark you dont need all that coverage” there are some hidden values in insurance rates where consumers can double or significantly increase there coverage for very short money, direct writers dont seem to like to give the max coverage for the lowest premium.
i think you are thinking of wrong information if you think that GEICO preys on lower income families. i think you need to rethink your process. why did you think we took awhile to re-enter the NJ market. it’s because of the legislature and the requirements. currently GEICO writes in 49 states and overseas! do u know anyone else?
maybe your company should file the discount as a group just like commerce did. Oh wait they dont want to be forced to accept business they dont want just because of a motor club. Does it realy matter after all as the prevoius poster comented they will hardly be in the top 10 in a few years. Athough the new parent company does have quite a bit of money to put into competing. I will say what really has me bent is the fact that im an ERP with a loss ratio in the 40’s and still cant get an appointment, and why might you ask, because companies are afraid to get a new ERP as a result of appointing one voluntary. The games contenue for another year.
YEAH, MS BURNS GOT IT RIGHT LET THE MARKET SET THE PRICE. MASS HAS THE 4TH HIGHEST RATES IN THE COUNTRY AFTER NY,NJ AND DC. I HAVE $10 THAT SAYS IN 3 YEARS THE WILL NOT BE IN THE TOP TEN. SHE GET IT.
I will take that action.
If you were to move the years to 5, I wouldn’t take that bet, but for 3… I will.
It’s almost a free market. Our company filed their rates and have been told that they and 3 other companies must remove the “motor club” member discount in order to be approved!!! It appears only Commerce can give discounted rates for people who belong to AAA… our company cannot give them a discount… how’s that for a free market and competetion? There are other motor clubs besides AAA but that doesn’t matter to the MA commissioner… go figure!
problem – how come only 1 company w/aaa for motor club? sounds like a lawsuit pending – this does not give equal opportunity for insurance. so why is company more special than the other? i think this needs to brought to the attorney general and see if there are kickbacks to these folks because of aaa motor club. if so, then that is WRONG!
There’s no such thing as a free market – except in a college economics class. Interesting that NJ is still in the top 5 most expensive states even with a “free market” and GEICO,State Farm, etc. in play. MA will ALWAYS be an expensive state for auto insurance. We’re just moving “middleman” money where it benefits the local economy into the advertisers pockets and to Warren Buffets bottom line. This is a huge power shift where insurance companies gain the power and consumers lose. It used to be insurance companies would look for coverage – now they look for ways to deny claims. I hope the consumer enjoys their 10% – 15% “savings!:)
um…warren buffet – GEICO….
1. geico currently does not operate insurance in mass. so we are not making any more money there, nor in warrens pocket!
2. geico has only been back in NJ for approx 3-4 yrs. so competively we do save many folks on insurance.
3. if mass wud loosen up the restrictions, we might move in and then they might get really good competitive rates.
4. if the state only allows an ers only if you have aaa, then that is biased and that sounds like a definate kickback either from the company or aaa. that is not a competition of the market when you deny others of similar service to compete. is aaa better than other motorclubs? not really – in most cases you are limited on the amount of times you can use the product. most of the discounts you recieve, you now can get on your own w/access to the www.
so who is fooling whom here? i think the local government is testing the waters but the wrong way and only truly helping themselves to still maintain control of the market.
Govt will always have trouble giving up power over anything. Rem Hitler,etc.
2.Most standard companies have better rates than Geico, yet the pr is excellent and folks beleive they are less. Their model, unless non-standard, is reduce coverage to reduce rates. Pretty brilliant.
Warren is brilliant. Good marketing.
3.If it holds, MA will be better.
The efforts of so many to produce so little in real reform This is a huge power shift where insurance companies gain the power and consumers lose
The year 2007 was the second straight year of record net income for the insurer.
couldnt have said it better!
you mean if we would loosen up to alow gieco to dicriminate against low income families. Why does gieco need to discriminate to make money, 19 companies make a profit here with out doing so.
Gieco has nothing but a lizard and preying on the lack of knowlege of consumers. Progressive isnt much better.
PR is all they are, and the notion that the 15% is because they have no agents is insane, advertising isnt free. Heres a quote from a Gieco rep “mark you dont need all that coverage” there are some hidden values in insurance rates where consumers can double or significantly increase there coverage for very short money, direct writers dont seem to like to give the max coverage for the lowest premium.
that could be because they have the lowest expenses of any insurer in the state.
i think you are thinking of wrong information if you think that GEICO preys on lower income families. i think you need to rethink your process. why did you think we took awhile to re-enter the NJ market. it’s because of the legislature and the requirements. currently GEICO writes in 49 states and overseas! do u know anyone else?