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Regular Contributor
Was just curious if your $300 annual savings with Geico was net of the $750-$800 SSA regular and Senior bonuses?

6 REPLIES

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Not sure!

Do you know how to correlate a $300.00 cash savings (yearly) into what it costs me (to not pay the $300.00)?

What percentage of the $300.00 (more) would go into my SSA/Senior Bonus?

I have no idea!

But, I do NOT believe it would equal $300.00 cash (saved) per year!

 

Note: I have considered this and did ask USAA (5 years ago) how the monies are divided/distributed to my SSA.

Unfortunately, NO ONE could give me a clear answer.

So, I switched. 

 

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I originally had Geico many years ago.  They kept increasing my insurance everytime it renewed.  Not much, just a little bit.  I then heard about USAA and called them - found out I was paying almost double what I could get with USAA.

 

I do check every year that my insurance is comparable, and Geico is the only one that offers lower (this year by just a little under $100.). for less insurance coverage (they don't offer all that USAA includes in their insurance).  Considering I received back $500.00 in my Subscribers account and distribution of over $100.00 - they don't even compare.   

 

Geico gets you to them, but then they will raise your rates when you renew to catch you up.  Go read some of the comments on the BBB page.

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I understand what you're saying. My point, though, is that in December, I received a distribution from my SSA totaling approx $250; today, I received a distribution of approx $550 from my SSA as a Senior Bonus. Even if I were to consider ONLY the normal distribution of ~ $250, this would be close to a "wash" vs. GEICO; when I also factor in the Senior Bonus, it's definitely advantageous for me to stay with USAA. Of course, it DOES take 40 yrs. to qualify for the Senior Bonus...lol!
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Good thoughts, BUT, How much do you PAY USAA over the course of a year?

What do you have covered by USAA.  (Don't want an answer).

 

I am just trying to figure out HOW USAA calculates the YEARLY CASH ALLOTMENT,

(into our SSA Accounts)?

What (of the monies we pay) COUNTS towards the allotment and what DOES NOT count!

 

As for the comment about GEICO raising rates.

AGAIN, I have been w/GEICO over 5 years

and I am paying LESS now than when I STARTED w/them.

(Nothing has changed w/vehicles)

 

Anyone who can figure out the Allotment Formula, I would appreciate an answer!

 

I allready understand HOW the Yearly Bonus and Senior Bonus works, Thanks!!

 

 

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"As for the comment about GEICO raising rates.

AGAIN, I have been w/GEICO over 5 years

and I am paying LESS now than when I STARTED w/them.

(Nothing has changed w/vehicles):"

 

I seriously doubt this (for more than one reason).  Just do a google on "Geico raising rates" or check out the complaints filed with the BBB.  Possibly their number one complaint.

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Thank you very much for calling me a liar!!!  Have a good life w/USAA..