When GEICO enters a state, you know this is proof positive that premiums are excessive, and large profits are guaranteed the carriers. The people of MA have their Commissioner and their Governor to thank for the opportunity they are having to be gouged by rapacious carriers under the new “competitive” auto insurance market. What a laugh the once highly regulated state has become.
Given the value GEICO places on occupation as a rating factor, along with the fact that MA regulation doesn’t allow it, makes me believe this company is more hell bent on not allowing Progressive to gain a lion’s share of this new market than anything else.
The only folks that’ll be paying less is the cream…urban/youthfuls/high pts/elderly will be paying a lot more in MA…foreign carriers prog/lizard take indep agent jobs…thanks gov. patrick
Isn’t that what competition is all about? When rates were controlled, very few companies wanted to offer coverage and if I recall reading in this space, the few markets who would offer coverage made a great deal of money as they had all the business locked up and so there was little entry into Mass and no one really wanting to offer better t&c. Boy for my money, I like it out here, where there are a ton of companies competing for my clients. Makes my life easier then in Mass.
When GEICO enters a state, you know this is proof positive that premiums are excessive, and large profits are guaranteed the carriers. The people of MA have their Commissioner and their Governor to thank for the opportunity they are having to be gouged by rapacious carriers under the new “competitive” auto insurance market. What a laugh the once highly regulated state has become.
The article said they will begin selling premiums.
So I would buy the premium? Then pay the premium?
Given the value GEICO places on occupation as a rating factor, along with the fact that MA regulation doesn’t allow it, makes me believe this company is more hell bent on not allowing Progressive to gain a lion’s share of this new market than anything else.
The only folks that’ll be paying less is the cream…urban/youthfuls/high pts/elderly will be paying a lot more in MA…foreign carriers prog/lizard take indep agent jobs…thanks gov. patrick
Isn’t that what competition is all about? When rates were controlled, very few companies wanted to offer coverage and if I recall reading in this space, the few markets who would offer coverage made a great deal of money as they had all the business locked up and so there was little entry into Mass and no one really wanting to offer better t&c. Boy for my money, I like it out here, where there are a ton of companies competing for my clients. Makes my life easier then in Mass.
Wait until GEICO has to insure inner city youthfull drivers and elderly and not be able to charge whatever they want for high risk drivers.
I now live in Rhode Island and have Geico Ins. maybe moving to Mass. can I still keep my Geico Ins and if so how will it change.