|
GEICO: does anyone use them for umbrella insurance?
01-13-2011, 08:25 AM
|
#1
|
Recycles dryer sheets
Join Date: Nov 2007
Posts: 52
|
GEICO: does anyone use them for umbrella insurance?
Just curious. I know a lot of ppl use them for auto insurance, but what about umbrella (ie: including the home, etc) what your experiences are with them to cover that? Or should I go with someone else to get umbrella?
I use GEICO right now for my car, but am a bit nervous to ask them to cover my home just because I know it's not their speciality. There was massive damage to one of the properties right next door to me last week (pipe exploded), so I'm definitely looking again at my policy numbers...
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
01-13-2011, 08:57 AM
|
#2
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
|
As far as I know, GEICO does not write homeowners at all, so I do not believe you can buy it from them. I have used them for umbrella in the past, but for the last few years the companies that have provided my homeowners policies have been significantly cheaper for umbrella than GEICO. YMMV, but I would at least get their quote.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
|
|
|
01-13-2011, 09:26 AM
|
#3
|
Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,391
|
Geez what will they think of next !
I have decided if my umbrella gets damaged I'll just buy a new one. I don't need to insure my umbrella from damage.
|
|
|
01-13-2011, 10:17 AM
|
#4
|
Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,698
|
I have my auto policy with them and also an umbrella policy. I've been very pleased with the umbrella end, they actually answer the phone. No claims as of yet so it's hard to judge but no claims is good, no?
|
|
|
01-13-2011, 11:23 AM
|
#5
|
Full time employment: Posting here.
Join Date: Jun 2009
Location: SoCal
Posts: 569
|
Wilkens,
Geico technically doesn't write homeowners or umbrella insurance, but do provide it via Traveller's. I have my auto with Geico and an umbrella purchased through Geico but written by Traveller's. I was extremely satisfied in their handling of my questions as I was purchasing the policy and found their rates to be very competitive. 73 is correct, they have excellent customer service. I have not had to file an umbrella claim yet but have filed auto claims in the past, and they are handled very professionally. Hope this helps.
|
|
|
01-13-2011, 12:33 PM
|
#6
|
Recycles dryer sheets
Join Date: Aug 2007
Posts: 224
|
I have my auto, homeowners (on my residence, not my rental) and an umbrella policy with GEICO,. I've had no issues with them and I'd recommend them.
Side note: I think my umbrella policy is directly with GEICO although the homeowners policy is with their partner, Travelers.
__________________
Rather go to bed without dinner than to rise in debt. - Benjamin Franklin
|
|
|
01-18-2011, 03:36 AM
|
#7
|
Recycles dryer sheets
Join Date: Dec 2008
Posts: 299
|
You don't have to insure your home through GEICO or its partner in order to have an umbrella policy with GEICO. I have auto and umbrella with GEICO. No claims yet on either one.
|
|
|
01-18-2011, 06:42 AM
|
#8
|
Thinks s/he gets paid by the post
Join Date: Feb 2004
Posts: 2,670
|
I wouldn't go with GEICO only for the reason their commercials are so annoying. Shallow reasoning, perhaps. But if an insurance company can spend the money they do on all those commercials and advertisements, they must be overcharging someone.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
|
|
|
01-18-2011, 07:49 AM
|
#9
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
|
Quote:
Originally Posted by retire@40
I wouldn't go with GEICO only for the reason their commercials are so annoying. Shallow reasoning, perhaps. But if an insurance company can spend the money they do on all those commercials and advertisements, they must be overcharging someone.
|
Agreed that the commercials are mostly annoying, but the part I boldfaced isn't necessarily true. It takes a certain amount of money to attract new customers, and if the amount you spend in advertising brings in new customers at a cost (per new customer) that's considerably less than the typical discounted profit stream you expect to get from them over time, then it's a good investment in the business.
If I'm selling a widget on which I can make a $100 profit and I'm deciding on whether to advertise to increase sales, I have to figure out whether I think it will cost me less than $100 per additional widget sale to advertise.
Having said all that, one has to wonder how much additional return (in the form of new customers) GEICO is getting with their "saturation bombing" advertisements (disclosure: I own shares in Berkshire Hathaway).
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
|
|
|
01-18-2011, 03:21 PM
|
#10
|
Thinks s/he gets paid by the post
Join Date: Jun 2002
Posts: 1,634
|
If you are a veteran, take a look at USAA for umbrella insurance.
I recently wanted to increase my umbrella limit significantly but it was very expensive to do so. They showed me how I could increase the liability limits on my auto and homeowner policies at a much lower cost, keep the umbrella policy at the level I have, and end up with the same amount of protection.
__________________
friar1610
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|