Xolvie Resolution Specialist July 03, 2024 11:02 am
Despite having no accidents or tickets, your Geico premiums might still be increasing due to several factors. The type of car you drive, its make and model, and where it is kept can influence your rates. Factors like expected repair costs, theft rates for your vehicle, and safety features are considered. Additionally, if you have a long commute or drive frequently, your rates might be higher due to the increased risk of accidents.
Other factors include changes in your coverage or loss of eligibility for discounts. Life events such as moving, getting married, or adding new drivers to your policy can also impact your rates. Even if your personal circumstances haven't changed, Geico adjusts premiums based on the overall claims and costs within their pool of insured drivers, sharing the risk and cost of repairs and damages among all policyholders.
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