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07 May 2015

GEICO to Raise Auto Insurance Premiums

Interesting article, and soon to be lesson, for the price driven automobile insurance consumers. I feel the next step will be stricter underwriting (turning more people away and cancelling policies) and they will have to quit branding themselves as the cheapest guy on the block. GEICO simply made $33 million less than last year’s 1st quarter. To make sure this trend doesn’t continue they have to get more “Best in Class Drivers” and unfortunately most of those aren’t always attracted to the lowest price… or talking animals.

http://www.insurancejournal.com/news/national/2015/05/04/366720.htm

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