Letter to Insurance Commissioner on Geico Rate Raise on Soldiers
In response to an investigative report showing that Geico charges an auto insurance penalty to soldiers who dropped their coverage while they were deployed overseas, CFA has written to all Insurance Commissioners, calling on them to investigate this practice in their state and block companies from imposing this “Patriot Penalty.” According to the news story, Geico charges as much as $500 extra every six months to soldiers with a clean driving record when they return from a tour of duty. While some states prohibit this practice, it appears that it is allowed in nearly half the states.
Our Subject Matter Experts
Related Articles
Redlined
The Persistence of Racial Inequality in the Cost of Homeowners Insurance
Black and Hispanic Homeowners Pay Hundreds of Dollars More Annually for Homeowners Insurance
“Racial Premium Gap” Adds Up to $15,000 in Additional Insurance Costs for Black Consumers and $28,500 for Hispanic Consumers Over a 30-Year Mortgage