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Originally Posted by SummitUp
Based on that criteria, how would you rate Geico?
My 6mo. premium for 5 vehicles with Geico is about $900 (only two of them get full collision and comprehensive). I just checked with Progressive to see if I could save some bucks...
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Geico sucks also. Let me tell you how they save you 15%. Here's an example. Almost 99% of all insurance companies pay 42 or 44 per labor hour. Their material allowance is 26-28 per paint hour.
Geico pays 40 dollars an hour and 24 per paint hour for materials.
And it's not just money. My basis on insurance companies is how the adjusters write up the claim.
What I mean is over the last 26 years I've been in the bodyshop business, I have heard from customers how great their insurance company is.
The problem is that they are excited because they like their agent. The agents are nice to customers, why shouldn't they be? I mean, afterall, if you've been with the same agent, you've probably put his kids through college.
There is no perfect insurance company but I'm looking for an insurance company that will put my car back to the way it was pre-accident.
Nationwide is one of the worst. Unless you have their "platinum" insurance (which is few and far between... I have yet to see it in 26 years) Nationwide will put aftermarket parts or used parts on a BRAND NEW car. That's ridiculous.
Last year, I had a Honda Accord towed in. It was rear-ended by someone who had Nationwide as their insurance carrier.
The car had 400 miles on it. In my opinion, that is a brand new car.
But because aftermarket was available for that model, Nationwide put on aftermarket rear bumper, taillights, decklid, front bumper, hood and fenders (the car had been pushed into another car)
I argued with Nationwide for over a week. When that didn't work, I called the customer. They argued with Nationwide for a week. Then the lady got an attorney and the attorney argued for almost 3 weeks.
Nationwide would not budge. They told the lady that she should turn it in on her own insurance and they could subrogate Nationwide.
The only way I could get around it is I lied to the insurance company. I told them that the car was an "SE" and the parts were not the same. Ridiculous and a lie, I know but....
Point is, the "policies" that the adjusters have to follow in order to repair your car is how I judge that insurance company.
Even my own insurance company, State Farm has adopted a policy that I don't like.
Here's an example. Let's say you get in a wreck and you have to have a fender replaced. The logical thing to do is blend the door. Makes sense and most insurance companies don't have a problem with it.
However, State Farm has adopted a policy that if the door has so much as a minor, light scratch in it, they won't pay to blend that panel.
Their logic is the door had to be repaired anyways to make it right so why should they have to pay to blend.
My .02 worth....
Mark