I Like Geico, but My Motorcycle Policy Seems a Little Off

[BTFuzz]

Which local agent should I use - the companies that want to charge me 30% more?

30% more? I have been in insurance for just over 10 years and have yet to see a policy 30% more than Geico...in fact, I can probably count on one hand how many times I've lost to them at all.

I can't understand why a person would use them either as opposed to an agent who can tailor your overall insurance portfolio to your individual needs.

 

[Crabcake Johnny]

Allstate, Nationwide, SF, are all more expensive than what I have now. Know how I know? I used to have 'em.

 

[CaptiveGuy]

Allstate, Nationwide, SF, are all more expensive than what I have now. Know how I know? I used to have 'em.

In MD try Erie, Encompass, or Travelers if you have a good driving record.

To Josh the OP, check with Progressive in VA through a local agent they have good rates for motorcycles.

You would be surprised how many people switch from GEICO thinking they were always the cheapest. Doesn't hurt to shop around sometime.s

 

[VolAgent]

Allstate, Nationwide, SF, are all more expensive than what I have now. Know how I know? I used to have 'em.

Good thing there are more than just those three to choose from besides Geico and Esurance.

 

[Crabcake Johnny]

....good thing I actually shopped around and called all of 'em:-)

 

[GreenSky]

My cars are with a direct writer. My motorcycles are with Progressive - direct because their rates through a broker are higher.

The reason to go with an agent is because the agent should be able to give you some value added service. My clients are with me because they would not be able to get the same advice from the carrier. And it costs them nothing for my service.

I know more about insurance than 99% of the *** agents out there so why would I want to pay them extra to provide me with what I can buy direct at a much lower price?

I used a real estate agent when I bought my house, even though I had a real estate license. The reason was he added value by negotiating better than I ever could.

But I can't find a reason to use an agent to help my negotiate the "difficulties" of buying 100/300/50, etc.

Rick

 

[Guest]

so, you have an accident on your 2 wheeler, they refuse to pay, you get all the way to court, and their lawyer presents the policy that says, we exclude 2 wheel vehicles, but your reply is, but the lady on the phone said this and this.

Does it come down to her word or how the CONTRACT you signed is written?

So your telling me, this multi-billion dollar company rolled out a product they were un-prepared to sell?

hey, if you have confidence in that, then go for it.!

How would you feel, if someone comes on here, or calls you, asks you 100 questions about your health insurance, then goes online and buys it, thats basically what you are doing, by not usuing an agent, you, your self, are saying you as an agent brings nothing to the table for a client.

It actually makes me sick............

 

[Josh]

You would be surprised how many people switch from GEICO thinking they were always the cheapest. Doesn't hurt to shop around sometime.s

I'm sure they're not always cheaper, that's why I shopped around

The motorcycle policy is like $140/year, I'm not really sure how much more I could be saving, but it's probably worth checking with progressive.

I did shop my policy with a local broker and the only way to get it cheaper was to lower the coverage amounts (300/300/100 with matching UI/UM).

 

[djs]

The funny part is agents bring this on themselves. How many times do you hear about agents that want to sell online? Well, hey, once you go down that path, you have to accept other people who do exactly that.

How many agents can really articulate the value they bring to the transaction? This is important and should be presented to prospects, but yet, very few agents can say why they should be involved in a meaningful manner.

Here is a few tests:
- Call an agent. Is the phone answered directly? Or if not, is there a message about when you will get a return call? 800 numbers (like Geico, Progressive, 21st Century, etc) are almost always answered during any reasonable time of the day.
- Does the agent take the time to listen or does he want you to come into his office? Face it, the office is so he can upsell you.
- Does the agent provide you the tools you need? This is things like online raters, policy comparisons, face to face communications (even via deskshare if needed)?
- Is the agent really empowered to do anything? Can they bind coverage, resolve billing problems, fix whatever? Or at least, deal with the issues for you?

Most agents don't answer their phone. Its downhill from there. If they cost more and can't explain why, then say goodbye.

Now, I'll tell my clients the difference between Geico and me is that both of us know the rules, but Geico will use them in their favor, I'll use them in your favor, as much as I can. This usually results in lower premiums overall, though honestly, carriers are closing down the loopholes that used to exist.


Dan

 

[Josh]

so, you have an accident on your 2 wheeler, they refuse to pay, you get all the way to court, and their lawyer presents the policy that says, we exclude 2 wheel vehicles, but your reply is, but the lady on the phone said this and this.

Does it come down to her word or how the CONTRACT you signed is written?

I'll take their word for it, especially because it says "motorcycle policy" right on top of it. I have no reason to believe they'll exclude the coverage on my motorcycle policy.

So your telling me, this multi-billion dollar company rolled out a product they were un-prepared to sell?

hey, if you have confidence in that, then go for it.!

How would you feel, if someone comes on here, or calls you, asks you 100 questions about your health insurance, then goes online and buys it, thats basically what you are doing, by not usuing an agent, you, your self, are saying you as an agent brings nothing to the table for a client.

It actually makes me sick............

I held a P&C license in NY and managed an Allstate office. I'm more than capable of understanding the policy. I also did work with an agent, I called and spoke to someone.

If an independent agent can't offer me a better value then I shouldn't pay more just for the sake of paying more. Should I just pay the 10% commission on my policy to some random agent that didn't do anything to deserve it? I'd still be saving money over buying their policy.

What I'm doing is completely different than coming on here asking 100 questions about health insurance then buying it online. I know what coverages I want and I'm shopping it on price.

Do you think I should charge 30% more than the competition for my lists then complain if agents don't buy them from me when I don't offer a value to me? If I can't offer someone a better value on insurance or lists than what they can get elsewhere, I don't deserve the business.