briskcanyon12 said:Lockheed Martin plays games with their pricing, switching from a total steal to an absolute rip-off in what feels like the blink of an eye. If you want to stop getting screwed over, you need to start tracking those price fluctuations at least a month before the deadline—that’s how much lead time you need to lock in a good rate. If you notice the price is lower than last year, or even better, if it beats out the rates from places like State Farm, then you buy it immediately. Don't overthink it; just pull the trigger.
I went to check on my dad’s renewal today since his policy is up this month. Guess what? Geico bumped the price up by a solid $100 even on the site that's usually the cheapest, Progressive.. We’ve always used them, and every single year it was either the same price or a few bucks cheaper.
Is it just me, or have insurance premiums across the board skyrocketed lately?
Geico is now $100 pricier than Progressive, and Compare.com is $33 more expensive than Progressive too.. What's the deal? Does anyone know when Geico actually drops their prices? Is there a specific window during the month, or do I seriously need to refresh the page every single day?
Drew Peterson3 said:Look, there’s no way your interest rate hit 400% over five years. That’s just math. What usually happens is the creditor might agree to write off part of what you owe, but they aren't doing that out of the goodness of their hearts—you’d have to make a lump-sum payment to make it happen.
It all depends on where you grabbed the cash. You won't find those rates at Bank of America, sure, but with those payday loan sharks? You can hit 1,000% easily enough.
Why stick around? Whoever offers the lowest number wins. That’s just how the market works. Especially since you've had bad luck before. Just hit up Geico or Progressive and see who gives you the best deal. There’s zero reason to overpay when everyone is basically selling the same thing. Besides, insurance isn't really for you—it's for some corporation looking to squeeze you if you ever report an accident. So don't bother checking the fine print... honestly, just go with whoever is cheapest.
I wouldn't throw in the towel quite that fast. Sure, things look bleak right now, but you shouldn't just write off the whole situation and assume a legal seizure is the only way out. Foreclosures and garnishments come with a mountain of extra fees. Honestly, it’s much better to deal with $333 interest than to lose an extra $2,000 you don't even have lying around. You're basically just dragging out the agony.
You should definitely try negotiating a 12-month repayment plan to chip away at that debt. Looking at what's left, it isn't exactly catastrophic; you can pay it down bit by bit. You even mentioned that obligations drop after three months, so if you start these installments now, you'll be ahead of schedule.
mistydrifter56 said:I think the whole thing is pretty straightforward. I know because I was looking into this exact same thing toward the end of last year (though I didn't end up pulling the trigger on anything).
If you don't want to renew the policy, you have to cancel it in writing at least three months before it expires... or more accurately, you can't wait until that final three-month window hits; you actually have to submit the cancellation during the fourth month before the term ends. In your case, you hit that last three-month stretch (May, June, July), so the policy just automatically renewed, which is why those invoices for next year showed up.
My plan was to sign up for a term starting next December, which means if I wanted out, I would’ve had to cancel in September of this year—not in October, November, or December, since those are the final three months of the policy.
As for that $70 and $30 price point, your agent really should have been upfront about that when you signed up; if they weren't, that's straight-up misleading. That being said, it’s definitely gotta be written somewhere in the contract, and I'm sure it was—it's just that most of us don't bother reading the fine print, so we get blindsided later.
Anyway, that's how I see your situation playing out.
Well put. There aren't even clauses here about price hikes or changing terms.
The bottom line is the Plan B rider that costs $6.25.
Like you said, you didn't file a cancellation... meaning you didn't request a change to the policy terms at least 3 months out, so it just rolled over automatically. For you, the first year of Plan B was free... after that, the charge kicks in. You should have canceled Plan B three months before the renewal if you wanted to keep the base rate. But that didn't happen. The price goes up because the rider isn't canceled. No rules were broken here, and there's no "price hike" per se—just the standard cost of the coverage.
ironcyclist58 said:But is it possible to lock in a multi-year deal—or something that lasts until you cancel—where they tell you the first year is $23/month, and then it bumps to $30/month after that? Maybe that's what's going on with his guy...
The first year was 70 because Plan B was free. Since it wasn't canceled, the price is now $30. It simply wasn't canceled in time.
I mean, you pretty much have to cancel the B-list. I didn't even give it a second thought—it just felt like a given. Now that we're actually talking about it... yeah, that's the catch. You miss the window to opt out of the B-list, and you're stuck. It’s the classic bait-and-switch with those "free for the first year" deals.
Look, I don't have the exact timeline down, which is why I said back then...
Basically, on this specific date, I stopped paying $23 my premiums due on this particular day.
Then a second bill showed up with a due date of this and this... I canceled it on this date... wait, how did you cancel it? What was the process?
.......... Okay, so the policy runs until July 2020. When was it actually canceled? And through what channel?
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Let’s wrap this up... I'm certain there's no shady business going on here. The policy just renews at the original agreed rate; there isn't some special promotional price involved. You get the promo rate while the policy stays active and keeps renewing... the price only shifts if you cancel the whole thing and sign a brand-new contract. Whether that happened because of non-payment or something else—we need to pin that down by looking at the actual sequence of events.
Ultimately, this leads straight to a garnishment. All you can really do is sit down and think—or better yet, write out—exactly what happened in the interim
Was that previous policy canceled on your end? How did a new one from $30 even get triggered? Give me the actual timeline. Anything else is just guesswork.
Pre-litigation collection is basically a way to settle debts quietly without involving the courts. It’s the stage where we notify a debtor that they have an overdue balance. This process involves sending a formal written warning—essentially a demand letter—followed by direct phone calls to follow up. Unless we've struck a different deal with the client, this phase typically runs anywhere from 30 to 60 days.
Supplemental insurance is tricky. You usually don't realize how it works until it's too late... both regarding this specific situation and in general.
Medicare has a three-month notice period. Basically, you can cancel at any point, but you’ll be on the hook for the next three months and then you're done... UNLESS you cancel before the 12-month mark hits... then there's zero notice period required. Let me clarify... if you sign a 12-month policy on a specific date—say, December 12, 2019—you can cancel anytime during 2020, provided you pay out those final three months. But if you cancel by December 11, 2020, you owe nothing. As long as you pull the plug before that anniversary date, there's no three-month rule because the policy doesn't auto-renew.
Aetna is a different story altogether. Their policies run for 12 months... so if you try to cancel mid-year, you're still responsible for the full premium for that term. To stop it from renewing for the following year, you have to give them 3 months' notice.
For example... if a policy starts January 1, 2019, and runs through January 1, 2020... you can tell them in 2019 that you don't want it to renew for 2020, but you have to do that by September 1, 2019. If you miss that window, the 2020 policy kicks in automatically and you're stuck paying the whole thing. In 2020, you can cancel whenever you want with 3 months' notice. Regardless, you're still paying for all of 2020. It just won't renew for 2021.
That's what happened here... but what *shouldn't* have happened is them changing the pricing structure. If a policy was locked in for $23, it stays at that rate for $23 unless it's canceled. They can't just hike the price whenever they feel like it unless they terminate the old policy and make you sign a brand new one.
The only way this becomes an issue is if they terminated the policy due to non-payment... specifically this one from $23. I think missing three payments is the trigger for termination, but you'd have to check the fine print. Now, about that new $89 policy: if you've paid even a single bill toward it, that's legally considered a renewal of the contract. If that's the case, you've got no ground to appeal and no way out. You'll have to pay the full year. Tell me exactly what you paid and when.
Has anyone here actually used the "deal of the day" for an insurance policy? I'm wondering how the whole process works—like, when does the actual paperwork arrive at my house? And once it's sorted, do I still need to show up at the local police station with physical copies?
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