I Saved Over $800 Switching to Geico…Seriously!

Sorry everyone I could not resist the cheesy title…LOL.

car insurance policy

I worked in insurance for many years and I was constantly amazed by the amount of people who do not shop their insurance. They just keep the same policy year after year. By “shopping” your insurance you can save quite a bit of money on all of your policies.

For example, we were with Progressive for several years. We would shop it every few years but didn’t see big enough difference to switch, until I tried Geico. I was flabbergasted when I saw the quote. We were now paying $1200 every six months because of moving to Tampa.

I started looking to reduce that and It turns out that GEICO has a state employee program (hubby works for the state) and through that program we were able to get our premium down to $798 – that is a $800 savings per year!!!!

Ten years later, we are still with GEICO. I do shop but I have yet to beat those prices, even with USAA. We were able to reduce our premiums even because we no longer to commute to work. Our vehicles are always home so the premiums are cheaper.

If you are working at home, make sure to let your insurance company know. This can save you quite a bit!

Don’t forget this will work for your homeowners insurance as well. I was able to save $2,000 by shopping this one this year alone!

We are in Florida and as you probably heard several insurance companies pulled out of offering homeowners insurance in the state so premiums have gone through the roof. Our previous company quadrupled our annual premiums. Yes, I said QUADRUPLED!!!

I shopped around and was able to cut that in half by switching to USAA (hubby is Marine too!) so it definitely pays to shop around.

There are hundreds of companies offering insurance and each state has different programs. Make sure to check all the affiliations you have (AAA, AARP, clubs, etc) as you might be able to get in certain programs because of those affiliations.

USAA is a great one because they have amazing programs so if your family is military make sure to check with them. You don’t have to be an officer anymore, any Veteran can join!

I am not trying to push one company or the other, I am simply trying to make you “think” about your insurance. If you are trying to save money this is one place where you really can save a lot!

Here are some tips to help you shop for insurance:

Know what you need: Before shopping for insurance, it’s important to know what coverage you need. State requirements vary so make sure to know what they are. You may be able to reduce coverage or increase deductibles to reduce rates. Try different combos, because sometimes increasing your coverage may actually reduce your premiums. You never know until you try!

That is the genius of online shopping, you can play around with the numbers to find the best plan for your family. Just make sure you get the PROPER coverage.

Compare rates: Once you know what coverage you need, compare rates from multiple insurers to get the best deal. Use an online comparison tool or use your local broker.

Ask for discounts: There are usually several discounts you can get like – multi-car, multi-policy (combining home and auto), good driver, etc. These can add up to a lot!

Ask questions: If you have any questions about your insurance policy, don’t hesitate to ask your agent or insurer. They should be able to help you understand your coverage and answer any questions you have.

There are a TON of companies, so make sure to check out several. Another option is that if you have an insurance agent call them and tell them you want several quotes on your car insurance. If you don’t tell them to shop it, they won’t.

While I worked in insurance it has been many years and I am no longer licensed so I am not giving you advice just trying to make you think about your insurance!
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13 Comments

  1. This is fascinating to me, because I am trying to save $ every where possible. Esurance was $400 cheaper (the biggest difference I could find) for 6 months, but then someone from Liberty Mutual said to just beware… that could be a teaser price and jacked up the next renewal.

    SG, let me ask you this: since you worked in insurance: We;ve been with allstate since teh dawn of time. If I were to switch to Esurance, and in 6 months, the rates went up, could I then switch to another insurance? does that somehow make me look bad? TY for your thoughts!

    • We’ve had Esurance since Jan. 2010 and they’ve been great so far; very convenient and the best customer service I’ve had from any insurance company we’ve used (yes, I’m a real customer. LOL). We’ve used Progressive or Geico for several years but when we moved to another state and needed to lower bills, I checked Esurance. We also had a huge premium savings, then at our first renewal, our premium dropped another $10/month. I received our next renewal quote just today & it increased a total of $5.00 for the next 6-month period (yes, less than 50-cents increase per month). I can live with that. 😉 Obviously can’t speak to what anyone else’s experience will be but for us, it’s been great.

  2. This caught my attention because I just saved $400/year by switching FROM Geico TO Progressive! 🙂 Guess the moral of the story is it pays to shop around no matter who you’re currently with!

  3. GEICO
    G (Government) E (Employee) I (Insurance) CO (Company)

    GEICO does offer great savings for government employees whether it is local, state, or federal. Everyone else bites the bullet.

    • Not always. We are not government employees and have motorcycle insurance through them. Cheapest we found by just a few bucks over Progressive.

  4. My husband & I were with GEICO for years. They were the cheapest that we could findin the Atlanta, GA area, until we discovered USAA. If you’re a Veteran in good standing you can save even more. We dropped an additional $600 per year.

    • We have always shopped for our insurance but even though we’ve banked with multiple accounts for about 14 years at USAA, Geico was still cheaper for us. Weird!

    • We are with USAA as well and I’m considering shopping around just for interest sake. We are in FL and pay 960 every 6mos for our auto insurance plus a small amt for 2 pieces of artwork. I guess it’s worth looking into as well as homeowners insurance bc we are in Tampa.

  5. omg if this quote i got today is right i will save 365$ every 6mths. i am switching tomorrow! Thanks swaggragger for reminding me to shop around. i have been with esurance for the past 7 years without shopping around, yahoo 🙂

  6. We have Geico also. If you stay with an insurance for a while you get accident forgiveness. That”s why it doesn’t do us any good to switch. If you insure your residence you will get an extra discount.

  7. I work for Allstate in Douglasville, GA on Douglas Blvd just west of Home Depot. Anyone in the area is welcome to come into the office each week to pick up free Wednesday newspapers with weekly coupons in them. My boss is allowing me to do this to help fellow couponers, all he asks is that you let me give you a quote for insurance. Then you can stop by every week for FREE COUPONS even if I don’t beat what your paying currently. That’s a WIN WIN deal!

  8. I’ve been with Geico 16 years, a state employee for 5, and had no idea they give discounts to state employees! Hopefully I can save some $$ staying with Geico!

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