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Re: I guess I did cause I have no idea what you me (archive)
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Posted by Tom M. on November 11, 2000 at 06:57:10:

In Reply to: I guess I did cause I have no idea what you mean posted by Yukon Jack on November 11, 2000 at 01:46:52:

Here's what Geico does: they buy radar units and give them to municipalities. These munis then use them to ticket speeders. Then Geico raises the insurance rates on those who have been ticketed by the radar guns they have provided.

Geico claims they give the radar units out to help promote traffic safety by catching speeders and slowing down traffic. However, studies have shown almost no linkage to speeding tickets - or even traffic speeds in general - and accident rates. The truth is, radar tickets are a source of revenue, both for the issuing authority and the insurance company.

The other thing Geico is NOTORIOUS for is dropping clients if they get a single ticket. Once one insurer drops you in some states you're forced into an assigned risk pool that costs much more than standard rates. There was a 60 Minutes expose on this something like 5 or 10 years ago.

Tom M.

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