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Hi. My car died last Sept and I had to cancel my Geico policy as a result. They told me that I had 6 months to get a car to keep my policy number and account with them, otherwise I'd have to start over. I've been with Geico for 10 yrs. I didn't repair my car because I was paying off a major student loan and didn't want to go off track.
My question is. Is it worth losing my 10 yr account with them? Is this a way for them to just keep making money? I want to save up for a decent car and don't think I will be ready by March. The last thing I want to do is finance something else and deal with any kind of payments. I'd rather just save up and purchase a car outright and then do full coverage from there. I have a great driving record. No accident in the last 5 yrs. Should I just come back when I am ready or should I just get any cheap car to keep the account? (I'm in my early 30s)
did you have any claims on home insurance or renters insurance ? how long will you be without a car? how is your credit score? all of the above count if you have to shop for insurance .
after a while they assume you have not been driving in a while and throw you back in the assigned risk pool like a new driver.
I'm not sure what your problem is or why you want to keep the same account number. I also don't think a person with a good driving record and in their 30s would need to go into the assigned risk pool. I got my own insurance in my early 20s and did not have to go to the assigned risk pool.
Can you clarify why you want to keep the same account number? I'm assuming you followed DMV laws like turning in your plates when you stopped your insurance of course.
Ive been with Allstate since 1992 and about a decade ago i had some bad items on my credit which are now gone. my agent told me at that time as long i remained with Allstate id be grandfathered under the old system (where they didn't look at credit report items) and as long as i remained with Allstate id continue to be grandfathered under the old system. also i just received a new policy where im paying 50% less per year on my car premiums due to my good driving record (paid $2400 down to $1200 per year for my new Toyota) so perhaps it pays to remain with the same company
curious, if someones insurance lapses for a day and someone hits them when the car is parked, does that mean the motorist cannot collect anything for the day in which the insurance lapsed?
so if the lapse was on January 1st only and the car was hit on the 1st when parked does that mean the insured cannot collect for the Jan 1st loss, or not necessarily?
Hi. My car died last Sept and I had to cancel my Geico policy as a result. They told me that I had 6 months to get a car to keep my policy number and account with them, otherwise I'd have to start over. I've been with Geico for 10 yrs. I didn't repair my car because I was paying off a major student loan and didn't want to go off track.
My question is. Is it worth losing my 10 yr account with them? Is this a way for them to just keep making money? I want to save up for a decent car and don't think I will be ready by March. The last thing I want to do is finance something else and deal with any kind of payments. I'd rather just save up and purchase a car outright and then do full coverage from there. I have a great driving record. No accident in the last 5 yrs. Should I just come back when I am ready or should I just get any cheap car to keep the account? (I'm in my early 30s)
Just come back when you are ready and have a car you want to insure---- there is no real benefit to staying with the company a long time... when you are ready contact Geico again and I am sure they will be happy to have you back and give you a good deal-- this is a very competitive industry, companies do not cut your rate in half because you have been with them for ten years--- the above poster who said so was just sold a bill of goods from an agent,
curious, if someones insurance lapses for a day and someone hits them when the car is parked, does that mean the motorist cannot collect anything for the day in which the insurance lapsed?
so if the lapse was on January 1st only and the car was hit on the 1st when parked does that mean the insured cannot collect for the Jan 1st loss, or not necessarily?
You couldnt collect under the comprehensive part of your policy but the other person insurance would have to cover your damages
Thank you. I figured as much. I have good credit. Of course I turned in my plates and followed all rules/laws/regs. They made it sound as if I'd be SOL if I waited more than 6 months to buy another car.
today your credit report, driving record, insurance claims on both cars and home or apartment and length of time "not " driving all play a part in determining yyour rates when you shop for insurance.
some companies give you a discount for every year you are with them including accident and ticket forgiveness.
when you start fresh you are back on the radar and lose alot of the perks.
today your credit report, driving record, insurance claims on both cars and home or apartment and length of time "not " driving all play a part in determining yyour rates when you shop for insurance.
I agree with the first part of that sentence but how would the insurance company know someone is "not" driving? As long as the OP has a drivers license he/she could be driving someone else's car on a policy with a different company. As long as the OP is licensed the company can't assume he/she is not driving.
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