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Posts Tagged ‘geico’

UGWUP4There are a number of policy provisions and claims settlement procedures that enable many car insurance carriers to reduce the costs to repair a damaged vehicle. 

A recent report by CNN explains many car repair shops accuse auto insurance companies of coercing them to use cheap parts and sometimes dangerous practices to fix vehicles involved in accidents.  I encourage you to examine this report, and to contact us me learn why it is important to consider the many benefits of insuring your vehicles with an insurance carrier that provides coverage for repairs using OEM (original equipment of the manufacturer) parts.  Click this link to read the CNN Report

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 In an attempt to speak with a local attorney about the importance of un / underinsured motorists coverage, I clumsily asked how he felt about the topic. My awkward phrasing provided the perfect fodder for this attorney to display his oh-so-sharp wit, and he mockingly replied to my question “Why, I’m 100% against uninsured motorists!”  

Once he was done laughing at his own joke (it took awhile), I explained that what I intended to ask was whether he ever felt it worth his while to recommend to his clients the importance of structuring their automobile insurance to better protect themselves from the costs of injuries caused by a driver with either no insurance, or very low limits of liability coverage.  As I recall, he wasn’t so against uninsured drivers that he felt it important enough to makes his clients aware of the need to protect themselves and their families. According to this news report, neither is Geico.

A large part of Geico’s ability to help consumers “save 15% in 15 minutes” stems from the fact they feature a “select your own coverage” business model. One of the outcomes of DIY insurance: according to this report (check the link above), Geico is not complying with state laws designed to help consumers make informed coverage decisions. Why not?  They are not complying because it is more profitable for Geico to allow consumers to select less protection from un and underinsured motorists

Call me @ 631-329-7246 if you want to understand WHY Geico and several LARGE insurance carriers encourage consumers to “save money” by skimping on important un/underinsured motorists coverage, and to learn what you can do to actually protect your family and your clients from the many drivers who have little or no liability coverage.

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