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Originally Posted by bmx672
Thanks for the feedback... I've pretty much decided to give Geico a try. I talked to a rep about the pricing etc... Everything is apples to apples... I think it's basically cheaper because there's no agent/building etc etc. like State Farm has in about every town.
My premium will go down by about $900! But, I will not get a discount on my home owners through State Farm... so I'll pay an extra $100... still a good deal for me though.
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Not having a Brick & Mortar operation certainly has something to do with it.
But companies set their rates using their own proprietary tables and algorythms. These are largely drawn from their own experience with a particular demographic (State, Zip code area, Age, Sex, Marital status, Credit history, Car type, etc.). Since they cannot access the records of their competitors, they can only calculate their risk from their own.