Geico closes all 38 offices in California.

[WHO IS SERAFIN]

Doesn’t sound like they want to be in a state going down the drain anymore.

 

[Webster]

As usual, you make a mountain out of a molehill....per the Sacramemto Bee,

A GEICO spokesperson would not comment on the new changes but said the company was not leaving California. “We continue to write policies in California, and we remain available through our direct channels for the more than 2.18 million California customers presently insured with us,” the company said in an unsigned emailed statement to The Sacramento Bee. The changes leave online options through a computer or a mobile device as the only way to obtain a GEICO policy in California.

 

[Webster]

*continues* If they were really leaving, Serafin, they'd've closed the policies and told their customers to find another broker.

They didn't do that.

 

[Nebulous's iconNebulous]

I use Geico for car insurance and I’ve literally never been to or seen an actual Geico office. Everything is handled over the phone or online.

 

[WHO IS SERAFIN]

*continues* If they were really leaving, Serafin, they'd've closed the policies and told their customers to find another broker.

They didn't do that.

That’s exactly what the plan is. You watch they will begin to not take more policies that state and slowly close down the accounts they have now.

 

[WHO IS SERAFIN]

I use Geico for car insurance and I’ve literally never been to or seen an actual Geico office. Everything is handled over the phone or online.

I guess I’m a bit more old fashioned in this regard I prefer to go to offices with these kinds of things.

 

[Webster]

You watch they will begin to not take more policies that state and slowly close down the accounts they have now.

Well, they haven't done that yet...

 

[WHO IS SERAFIN]

Well, they haven't done that yet...

You close stores like that because you are losing money and it’s not become profitable

 

[Webster]

You close stores like that because you are losing money and it’s not become profitable

Or because its' easier to sell over the phone and online than it is to have physical offices.

 

[WHO IS SERAFIN]

Or because its' easier to sell over the phone and online than it is to have physical offices.

That sounds good but that’s not the case here since it’s one state.

 

[MrDawn]

They closed their offices because of strict regulations. They're still doing business online.

However, Steve Young, a lawyer for Independent Insurance Agents & Brokers of California, said the state's regulations have made it increasingly difficult for insurance companies to do business in the state.

"There's a very complicated insurance rating law that is in effect here, that makes it very difficult for insurers to have confidence that they can get the rate that they need from an actuarial perspective to ride these risks going forward," Young said.

GEICO abruptly closes offices across California

According to the California Department of Insurance, GEICO closed all of its brick and mortar stores and continues to sell insurance policies online

www.abc10.com

 

[Webster]

They closed their offices because of strict regulations. They're still doing business online.

GEICO abruptly closes offices across California

According to the California Department of Insurance, GEICO closed all of its brick and mortar stores and continues to sell insurance policies online

www.abc10.com

See, @WHO IS SERAFIN, they're still doing business in California, just not w/physical offices.

 

[WHO IS SERAFIN]

See, @WHO IS SERAFIN, they're still doing business in California, just not w/physical offices.

Exactly what you do when profits are down.

 

[Webster]

Exactly what you do when profits are down.

If that was the case GEICO would've just stopped doing business altogether there.

They didn't; they just stopped doing business through physical offices.

 

[WHO IS SERAFIN]

They closed their offices because of strict regulations. They're still doing business online.

GEICO abruptly closes offices across California

According to the California Department of Insurance, GEICO closed all of its brick and mortar stores and continues to sell insurance policies online

www.abc10.com

Exactly, California hating on businesses and now because of it they were losing profits. Now they will get less customers because people still like interacting with live people in person when they have issues like I did when with geico when a red light runner totaled my van last year

 

[WHO IS SERAFIN]

If that was the case GEICO would've just stopped doing business altogether there.

They didn't; they just stopped doing business through physical offices.

They can’t just cancel several million policies, they will just faze them out over the years.

 

[Webster]

They can’t just cancel several million policies, they will just faze them out over the years.

And nowhere does it say they did that, Serafin.

 

[WHO IS SERAFIN]

And nowhere does it say they did that, Serafin.

I didn’t say they did that I’m saying that is the next step when you are fazing out a product that millions are using. If profits are low you get out.

 

[Nebulous's iconNebulous]

I guess I’m a bit more old fashioned in this regard I prefer to go to offices with these kinds of things.

Waste of time. I got in an accident, filed the claim and it was all handled from my iPhone.