Why did my car insurance go up with GEICO?

It’s almost time to renew my policy with GEICO, and it looks like they’re suddenly expecting me to pay a lot more for my car insurance than I was paying before. What gives? Why did my car insurance go up with GEICO? Did I do something wrong?

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Matt Terzi · Answered on Jan 04, 2023
Reviewed by Shannon Martin, Licensed Insurance Agent.
We’re sorry to hear your rates are going up! Let’s go over some of the common issues that cause car insurance rates to increase.
You probably already know that buying or leasing a new vehicle, having an at-fault car accident, accumulating traffic tickets, or making late car insurance payments will cause your rates to increase considerably. But there are less obvious issues that can cause your rates to increase too.
For starters, we suggest checking your credit score if you haven’t done so recently, as credit score changes are one of the most common causes for insurance premiums going up unexpectedly. This doesn’t apply if you live in California, Hawaii, Massachusetts, or Michigan, where car insurance companies aren’t legally allowed to consider credit scores.
Most insurance providers will increase rates when you reach your 60s too, especially when you reach 70. Age is a huge factor in determining insurance prices, and it can come as a big shock to see your rates go up as you get older.
Local and regional demographics play an important role in determining insurance rates, not just for you but your neighbors as well. Surges in car accidents or crimes in your area can contribute to rising insurance costs, too.
If none of these things apply to you, give GEICO a call and ask them directly why your rates went up. Car insurance rate hikes are probably the best reason you’ll ever get to consider switching providers and saving money.
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