Geico, (a red company) discriminates against low-income, minorities

[AnnInLa]

Geico, which like Gratis Internet is based in the nation's ethics capital, Washington, D.C., likes to advertise that you could save 15% or more on your automobile insurance. Yes and you could also get a job as a K Street lobbyist. Whether either is likely depends on your education and current occupation. If you have a law degree and have worked on Capitol Hill, you just might score on both counts.

But the Consumer Federation of America charges that Geico discriminates against lower-income and minority drivers by basing its rates on such factors as your education and occupation rather than just on your driving record and place of residence. Geico called it "an offensive attempt to link fundamentally fair and actuarially sound industry practices with invidious discrimination." By the way, many drivers think Geico is some sort of government entity. In fact, it's the nation's fourth-largest auto insurer and is owned by Warren Buffett's Berkshire Hathaway Inc., which is as far from non-profit as you can get.


http://www.consumeraffairs.com/newsletters/0000.html

[Nye Bevan]

1. "Many drivers think Geico is some sort of government entity"

:wtf:

[LynneSin]

2. But isn't that the cast with most insurance agencies?

I mean, all insurance agencies are now running a credit report to sign you up and let's face it - your rates go up in more urban areas.

[formernaderite]

3. yup....insurance companies rely on actuarrial tables

they pretty much couldn't give a shit what you look like. Car insurance always decreases the further you move away from an urban area...that has more to do with auto theft. It may be that in terms of "claims filed", it is cheaper to insure a stabile suburban university professor than a blue collar worker in the city. It is sad, but I doubt that the insurance companies decide these things on anything other than numbers.

The bigger question should be, what can our government do to remedy this situation. Obviously the poorest can not afford to pay more, regardless of their situation.

[Tsiyu]

4. Progressive Insurance is the way to go

I 've been with them a year and there was no credit check. Both my son and I are rated drivers and the rates are competitive and all drivers are covered on all vehicles in the household, which ends up saving money for us.

google "Peter Lewis' and Progressive and you'll see why they get my money. The Rightwing HATES Peter Lewis!

Geico keeps sending me these "We want your business back" crap. When they stop advertising on rush's show I'll consider it. NOT! I use their mailings to start fires in the backyard.

STARVE THE BEAST, PEOPLE!!!!