There is a pricing point called "Price Elasticity". It is the point on a chart where the forecast volumes cross the line of the price. It reflects a point where when the price is increased the sales volumes go down or the reverse. When these two points cross then you have the best price. There are many additional considerations when pricing and this is a basic one. As a follow up to my previous posts I did start looking into leaving Geico in the dust and moving on to a company that is more interested in its clients. I started with Travelers and it's input indicated policies for both an Auto and Umbrella would result saving between $350-400 a year and gaining more coverage's. I am not indicating a commitment to Travelers but rather as a start It is clear there are better ways to go other than the alleged senior abuse provided by Geico. I am more angry with myself for believing the differences were only a few dollars and believing it was not worth my time to look into the alleged subtle price increase. It finally got my attention when the company tried to increase their rates by over 100%+ in one year. Anyone who currently has Geico may want to take a peek to see if you allegedly are also being a part of this outrages price actions?
