Published 05/02/2022 Last Updated 09/06/2022
EDIT: We attempted to call GEICO again on 09/06/2022 and received the same answer from the automated system. "We are no longer offering quotes for insurance over the phone but you can apply online for a policy...or through the GEICO app".
According to an article released by Coverager.com on April 21, 2022, GEICO has appeared to stop selling their auto insurance policies over the phone in the states of AK, AR, CA, CT, DC, DE, GA, HI, KS, LA, MA, NJ, NM, NY, WI, WV. (You can read the full article here)
Speculation over why GEICO has stopped their phone sales, which is the majority of their incoming business, is up for debate. According to Coverager.com, an insider email sent to company employees cited "increases in vehicle repair costs, used car prices, and increased driving which leads to more accidents".
Our independent take on this: the loss ratio (Premium in vs. premium paid in claims) is likely upside down. The future and impact of this is still unknown, as GEICO is one of the largest automobile insurers in the nation by market share.
While that's not exactly an answer customers want to hear, it is good news for consumers to know that independent agent models are thriving right now.
"Now is the time to contact a local independent and review and move your coverages",
says Zachary Tavolaro, General Manager of Jordan First Insurance based out of Jordan, New York (Syracuse) "the good thing about our model, is that we won't just shut the door on you."
Summary
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