How to Lower GEICO Insurance Rates | BeatTheBush

Big companies such as insurance , cellphone, and cable companies really enjoy hiking your rate up a little bit at a time. It appears to be an industry wide problem where the flat rate fee doesn’t ever stay the same from year to year.

Instead, it increases marginally each year so that the consumer would ignore such a small change. I equate this to a slowly boiling frog where the frog would not notice that it’s slowly being boiled alive when you raise the temperature of the water slowly enough. Same with the consumer. The consumer is being eaten alive by rate increases and we do not even notice it.

First trick I found out by coincidence is by logging into their web portal and changing some premiums around. Change the deductible amount and then change it back. Give it a try and see if they reduce your rates a few weeks later because that’s exactly what they did for me. Now I have no proof that this works other than just my single case.

Another trick that can be done is just to buy some Berkshire Hathaway stock. You want to get the BRK.B (not A) version because it has been divided down to reasonable cost. Then you just call the insurance company up and ask for the “Berkshire affiliation discount”. Boom, 8% discount right there. .

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Comments (47)

  1. I am very curious, what kind of auto insurance you have for $37? I have 2 cars, the monthly policy is $387 ( both 2015, basic liability+collision ), that's the quotes. I am now paying $280 with AAA. But no way to get to $37… at any any option. Can you please explain what or how to? Thanks @BeatTheBush

  2. You are disgusting

  3. my insurance tripled and this doesn't work

  4. Geico could save you 15 percent or more on car insurance

  5. My insurance is 600$ a month…

  6. I had an accident on non-moving violation on that they reduced and so they raise my rates immediately I'm curious about this almost $100 so now I don't know how I can lower the

  7. Geico is a hot mess. I'm looking to change my insurance asap!

  8. I lowered my Geico insurance rate, (been a member since 2003). I lowered it by switching to Progressive.

  9. Best car insurance company in Las Vegas?

  10. What company owns progressive? So I can do the same process. Answer and I'll definitely subscribe

  11. I just figured out you can save big if you combine policies with your spouse. However there is a downfall, if he/she crashes your premium will go up too. We went from paying $166 (him) $80 (me). Now combined we pay $120!

  12. The Berkshire Hathaway hack works. Just tell Geico you own stock. I got $50 off my insurance policy.

  13. Metro Mile!

  14. A link to purchase a Type B share? Another interesting video!

  15. Wow, great tips.

  16. how to buy shares from geico so i can have a lower price?

  17. I don’t know if “ BeatTheBush” is right but I did do what he said a few times before watching this video and my car insurance did when down from $777 to now $685. But that’s within a year period

  18. I asked for the affiliate discount, told them I had a share of stock and was told “already max out on my discounts”

  19. Insurance charge teens a ton of money. It's crazy

  20. Welcome to the insurance world. Its one of things that everyone needs, but are scared to use.

  21. Thank you!

  22. Lowering your coverages by adjusting your deductibles does not account for lowering your rates Geico recently raised my rights and made the claim that the price of fixing cars went up so they should be able to charge me more. I changed insurance companies an that worked out for the best.I saved tons of money I cut my insurance cost from 140 a month to $60 a month

  23. BeatTheBush you're giving very misleading information regarding how car insurance rates are calculated specially after renewal. It's not your fault that your "online agent" did not explain to you how shared risk works and how that affects your premium. That's malpractice on their part! But don't spread misinformation regarding insurance because you don't know insurance.

  24. It's hard to justify telling somebody rates are up because of increasing costs, when these insurance companies run ads all day long boasting about the hundreds you'll save switching to them. They offer teaser rates to new customers, then make it up on the back end gouging current customers.

  25. You are delusional

  26. Iam insured with gieco and i live in Arizona on every renewals they increase my rates and I have clean record
    The first time they said the state tax increases
    The second time they said because too many accidents happened in my zip code and they all bullshit excuses your clean driving means nothing to them because they are blame you for someone else’s fault

  27. So incorrect!!

  28. Good ways to save money!
    Also, there is a rare discount everyone can get on Geico insurance premiums easily by being a share holder. I have put out a video that shows the details.

  29. GEICO offers discounts for professional and trade association memberships as well as for college alumni. Call them and have them go over your fee. 24/7

    Glad you slowed down your speach. Great channel.

  30. I've read one of the biggest factors in premium these days is your credit score. Messed up but true

  31. Holy crap i need to buy a share of Berkshire

  32. Thank you for this i reply after a month going on their website I saved 8%

  33. Don't use Gieco. Just look at all the horror stories associated with them with a google or youtube search.

  34. Thank you for the great information.

  35. Thank you For this video, well I have Geico insurance, so I will try the trick and the fill out the online customer service survey which is almost impossible to escape from and when they ask who can we do better ? I will say lower the rates maybe that will expedite the trick LoL

  36. lmao wow, it IS by state lol the state insurance department may raise the costs and its up to the insurance company to take the loss of profit to keep your rates from increasing. plus like most people they don't read their insurance policy much like a iPhone user agreement they just click accept and assume everything will be ok. like no one understands what umpd is if someone hits you you still have to pay but they believe they have full coverage lol.

  37. "Giving away other peoples money". I like that 🙂 I will try to do it with my car insurance. Some people think, that you have to have an old car to get cheaper insurance, but we get liability only coverage even though we have the newer cars. When you do t have any loan on the cars, the dealer or the bank can't make you get huge coverage, because you don't owe anybody for the car.

  38. I tried this.  It didn't work.

  39. Are you kidding, buying a $200,000 stock share, which for most people will remove most of their diversification, just to save $100 on insurance?

  40. Buy a 10+ year old car.  Buy liability only and for about your net worth.  Problem solved.  The hacks are just loose change.

  41. if u bought Berkshire Hathaway Inc.(NYSE:BRK.B) @ 141usd Mar 22, 2016 when this video posted u would have now 20usd free 1 22 2017, nice

  42. Any tips for a new driver needing insurance? Geico is quoting 400/mo even with high deductibles!

  43. As being an insurance agent I can explain in detail how it all breaks down to maybe make more sense than a general answer.
    Starting with a "state wide increase". What this really means is in your area we have determined that in the next six months it's going to cost more to cover your vehicle in the event of a loss than it cost in the past six months to a year, as Geico policies are every six months. Breaking it down pretty much as medical costs rise that affects insurance rates. Another example is the cost of repairs for your vehicle(s) can be higher. So as much as it sucks to have higher rates, it all factors together. Which, all insurance rates are regulated by the state so it's not just a random increase, some of these increase can include a state wide increase and pretty much every insurance company would have the increase as well.

  44. make sure your estimated mileage is correct

  45. cool , i didn't know that.

  46. Insurance companies that request state wide general premium increases must be approved by the department of insurance for that state. rate increases are always regulated and reviewed before they take effect. If you did not do anything its likely a discount was applied for something such as years of driving experience- you should call your insurance company and find out what it is and update us because it is certainly not caused by reviewing your limits online

  47. WRONG. Wrong, wrong, wrong.

    You're quite mistaken if you believe an insurance company can charge you a higher rate without merit. Insurance must be based pre-determined factors and rates as filed with the insurance commission for your particular state. You "mucking" around doesn't mean they're going to just magically decrease your rate.

    Also, rates are very individual – they are specific to each individual based on their driver profile (years of experience, type of vehicle, zip code location, driving record, miles driven, etc.) so you giving blanket statements about rates and discounts for other people is GROSS misinformation.

    Consider the validity of your channel content if you want to be seen as a credible YouTuber, IMO.

    (Source – I was a licensed property & casualty agent in CA for six years)

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