renters insurance geico reviews

Reviewed on August 24, 2009 / 3 reviews

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While GEICO is a popular insurance company offering reliable and affordable insurance, GEICO Health Insurance Company itself does not exist. GEICO Health Insurance Company does not offer health insurance, but GEICO, a subsidiary of Berkshire Hathaway, does have insurance policies for life, auto, motorcycle, ATV, umbrella, homeowners, renters, condo/co-op, RV, boat/PWC, flood, mobile, overseas, commercial, and identity theft protection.

It can however be easy for some people to think that GEICO offers health insurance because from time to time GEICO does enter into partnerships with other health insurance providers to allow them to offer GEICO’s policyholders health insurance quotes.

Read through this overview of GEICO, read the reviews of GEICO Insurance left by GEICO customers at the bottom of the page, and then use the free health insurance quote finder on the side of this page to compare quotes from many top health insurance companies.

Founded in Texas in 1936 by Leo and Lillian Goodwin, Government Employees Insurance Company (GEICO) was originally established for federal employees and certain groups of officers enlisted in the military. Although it was established during the Great Depression, 3,700 policies were written within its first year and the company has since grown to reach over nine million policy holders by 2009. In 1959, under new direction, new headquarters were established in Chevy Chase, MD. As of 2009, Massachusetts was added to GEICO’s service area, making GEICO available in all fifty states.

With the popularity of GEICO’s beloved Gecko mascot, which was started in 2000, and the smart caveman advertising of 2004 still running today, GEICO has become a well known name in the insurance industry. Although is it most commonly known for motor vehicle insurance and the like, some people are disappointed to learn that GEICO is not a health insurance company as well. However, others are surprised to learn that GEICO does offer life insurance as one of its services.

The purpose of life insurance is to give monetary protection to your loved ones who rely on your financial provisions. In order to determine how much life insurance you need, you must consider your circumstances, such as if you work inside or outside the home, if you are married, if you have children, if you are the sole provider, etcetera. If children are involved, oftentimes it is recommended for both parents to carry a life insurance policy even if one of them is a stay at home parent. The reason for this is the invisible financial provision such as day care that is provided by the stay at home parent.

GEICO offers term life insurance as opposed to whole life insurance in order to provide affordable and uncomplicated policies. The policies are intentionally basic and do not have cash values or other complex provisions. The lengths of the contracts are available in five year increments and for whatever length you choose for your policy, such as 10, 15, 25, or 30 years, your premium cannot increase during that term. Also, your policy cannot be canceled provided your premiums are always paid on time. Depending on your plan, flexible payment options include monthly, quarterly, semi-annual, or annual payments.

A standard life insurance policy covers all deaths, with the exception of suicide, regardless of where they occur. In regards to suicide, depending on each state, benefits will not be paid if a suicide occurs within the first year or two from when the policy was purchased. In addition to instances of depression, other factors such as heart disease, cancer, diabetes, and other serious illnesses are heavily considered before an applicant is issued a term life insurance policy.

Insurance providers will also review an applicant’s family history for heart disease and cancer. Even your lifestyle can affect the decision of your application if you engage in risky hobbies or activities. Although your application may not necessarily be declined for any of these reasons, your policy may be heavily affected by increased premiums or reduced benefits. For anybody requesting a policy of more than $250,000 coverage, GEICO reserves the right to an in-person interview of the applicant with a paramedic technician.

GEICO is a well established and reputable insurance company that has the financial resources of over $15 billion in assets to pay out claims. They have received an A++ rating from A.M. Best, which is a leading independent insurance analyst. The A++ rating is only given to 5% of all Property and Casualty companies. GEICO has also received an AAA rating from Standard and Poor’s, which is the highest rating they give for financial strength. Furthermore, GEICO underwent a meticulous review from Standard and Poor and was awarded their Security Circle for their fiscal vigor.

GEICO offers policies that are guaranteed to be renewable by continuing coverage for a policyholder without requiring a medical exam. To further protect its members, the only beneficiaries that GEICO allows on a policy are people who are somehow financially dependent on the policyholder. Charitable organizations can also be listed as a beneficiary provided it is one that was supported regularly by the policyholder. This helps prevent insurance scams and ensures that your life insurance is serving its true purpose, to protect your financial dependents in the event of your passing.

Whereas life insurance is a benefits policy for the future of your dependents, a health insurance policy can enhance your wellbeing and financial protection today. Most health insurance policies help increase your longevity through wellness checks and health education, which in turn facilitate a healthy lifestyle. To get started comparing health insurance quotes today, enter your zip code above. If you have questions regarding any of the companies or their plans, please call an independent agent at the above phone number.

No, you won’t be getting your health insurance policy from a cute gecko or caveman, but there are many licensed and qualified health insurance companies that are eager to have your business. Why got get quotes from them now?


Progressive, Geico, Esurance Homeowners Insurance: Is it a Good Deal?

Have you seen Geico, Esurance, or Progressive insurance ads on TV? The ads promote their auto insurance, but the ads often mention they offer homeowners & renters insurance, too. In fact, one of these insurance companies is heavily promoting a discount for “bundling” home & auto insurance together, to get low insurance rates. However, buying property insurance from these companies can be misleading, and you might be insuring your home with an insurance company you have never heard of, with a poor customer complaint record. This review will give you information, to help you decide if buying home insurance from Progressive, GEICO, or Esurance is a wise decision for you.

FYI: If you haven’t shopped your auto or home insurance in the last few years with at least 5 other companies, there is a good chance you are paying too much. Has your agent or company ever thoroughly reviewed your coverage, policy limitations, & exclusions? Use the ad below to find the major auto, home, & life insurance companies in your area, review your coverage, and get price quotes. If you don’t think you need to shop with other insurance companies, you need to read my webpage showing you the 8 things every insurance buyer needs to know here.

Things You Need to Know about Progressive, Geico, Esurance Homeowners Insurance.

Did you know GEICO & Progressive do not insure homes or apartments? These insurance companies offer vehicle insurance, but when it comes to home insurance & renters insurance, they partner with other insurance companies, and sell another insurance company’s homeowners insurance. You may think you are buying Progressive homeowners insurance, but you really may get IDS Homeowners insurance, or Homesite homeowners insurance, or Travelers homeowners insurance.

Esurance, as of November 2013, has developed its own home & renters insurance policies, which it will start offering in more states this year (as revealed in this article from Insurance Journal: Esurance Hopes Bundling Auto, Home Coverages Will Separate It From Geico). However, many customers seeking home insurance through Esurance have been sold home insurance issued by another insurance company, through the Answer Financial insurance agency, owned by Allstate Insurance (Esurance is also owned by Allstate).

Are you being deceived intentionally? Is this a rip off?

It may be deceptive, but it’s not really a rip off. However, there are a few things you should know, before you buy homeowners or renters insurance from these companies not selling their own property insurance.

1. Why don’t Progressive, Esurance, & Geico have their own homeowners insurance?

Catastrophic losses, such as tornadoes, hurricanes, & wild fires can make homeowners insurance less profitable, and in some years, a money loser for insurance companies. Auto insurance, and insuring other vehicles, such as watercraft, motorcycles, motor homes, etc., is more consistently profitable, so some insurance companies stick to this business. Insurance companies providing homeowners insurance with earthquake coverage, may be bankrupted, if there is a big earthquake (which is supposedly overdue) in the Pacific Northwest, if it is more costly than anticipated. Some insurance companies want to stay away from huge losses from big natural disasters. This is why it is important to choose an homeowners insurance company with a high financial strength rating.

Although they don’t sell their own home & renters insurance, GEICO & Progressive do sell a lot of property insurance to their auto insurance customers. Due to the prominence of GEICO & Progressive in the market place, JD Power is now reviewing and rating the bundling of home and auto insurance with companies like GEICO & Progressive, so I will be writing new reviews of buying home insurance from auto insurers like Esurance, Progressive, & GEICO in the future, analyzing the new JD Power ratings.

2. Be sure to find out which insurance company will be providing your homeowners insurance.

This may vary depending on the state in which you live. Progressive works with IDS (Ameriprise) insurance in some states, and Homesite insurance in others. Progressive is selling you the homeowners insurance, but the company issuing the policy and insuring you, will be settling your claims. You want to check the complaint record for the insurance company insuring your home to make sure you will get good customer service.

Homesite, in particular, does not have a very good complaint record. You can read my reviews here for Homesite insurance & IDS insurance.

Geico, Esurance, & Progressive have changed which insurance companies they use for homeowners insurance in the past, and using different insurance companies to partner with to offer home insurance may change in the future. This won’t effect you after you have purchased your homeowners insurance policy, but you can use my website to research other insurance companies as needed.

When you get homeowners or renters insurance quotes, ask for the exact name of the company underwriting the insurance, and check their complaint information on my website.

Homesite insurance is a smaller insurance company selling homeowners insurance direct to the public. I believe Geico, Esurance, Progressive, and 21st Century, too, before it was purchased by Farmers Insurance, have used or still use Homesite insurance in some states. I have some reservations about Homesite insurance, based on its complaint ratings, and that it is not rated by AM Best.

Visit my site to get price quotes, complaint statistics, and customer service & claims satisfaction ratings for all the leading auto & home insurance companies in the USA. How is your insurance company rated? Does it have a lot of customer complaints? Find out at my home page and CLICK HERE!

3. You may get the best price & service by insuring your home or renters insurance & auto insurance with an insurance company offering both home & auto insurance.

Insurance companies offering both auto & home insurance have large discounts on both policies. The discounts can be 10%,15%, 20%, or sometimes 25% on both policies.

Progressive, when I asked them about my auto insurance, said I would get a discount only on my condo insurance I buy from them, with no discount for my auto insurance.

Sometimes, insuring your home and car with different insurance companies make sense. It’s important with homeowners insurance to go with the insurance company having the best coverage for you. This is why I have my condo insurance with one company, and my auto insurance with another company. But for many people, getting the best price and service is by having your auto & home with the same insurance company.

Many people pay too much for their insurance because they never shop for better rates, or if they do shop, they don’t check the rates of enough companies. For a lot of people, the best auto & home insurance companies are the ones with the coverage they need at a lower price. With auto & home insurance, you don’t get better service or coverage because you pay more. Some of the best companies have competitive rates. Some companies charge twice as much as others for the same coverage. But no single company has low rates for everyone. You have to shop with all the leading companies, to find the company with the best coverage and best price for you. The ad below will take you to links to get online quotes from leading Home, Auto, Health, & Life insurance companies in your area. Choose the type of insurance, put in your zip, and start shopping now!