How much can your car insurance premium go up?
Geico is one of the biggest insurance companies in the U.S., with a global footprint and a strong presence in most major cities.
But the company’s coverage of cars has gotten more expensive over the past few years, particularly as it seeks to protect consumers against a looming crash.
The national average premium on car insurance is up more than 40% over the last five years, according to data from the Insurance Information Institute.
In some cities, like Los Angeles, the average premium has jumped as much as 100% over that period, the institute said in a recent report.
In New York, which boasts one of America’s highest auto insurance rates, the national average has risen from $1,500 to $3,300.
The average premium for the average insured vehicle has increased by almost 30% in the past five years.
What you need to know about insurance coverage, auto insurance and other auto topics.
Geico, like other big insurers, has been trying to make the most of its premium expansion.
The company announced in January that it was lowering the deductible for some customers by as much if not more than the average for the other big carriers.
In April, the company increased the minimum rate for all auto insurance customers from $6,000 to $7,500.
In a statement, Geico said it would continue to work to make sure its customers are covered.
“We remain committed to offering coverage that meets the needs of our customers and is aligned with the needs and priorities of our company, which are driven by our commitment to the safety of our drivers, our customers, and our communities,” the company said.