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GEICO is a wholly owned subsidiary of Berkshire Hathaway, which provides coverage for more than 24 million motor vehicles owned by more than 15 million policy holders as of 2017. GEICO writes private passenger automobile insurance in all 50 U.S. states and the District of Columbia. The insurance agency sells policies through local agents ...
It was founded in 1922 in San Antonio, Texas, by a group of 25 U.S. Army officers as a mechanism for mutual self-insurance, when they were unable to secure auto insurance because of the perception that they, as military officers, were a high-risk group. [5] [6]
It marketed its commercial insurance through managing general agents, using “GAINSCO” and the block super-scribed letters “GA” as its primary logo identifiers. These letters were derived from the abbreviated version of the name of the company's primary insurance subsidiary at that time, G eneral A gents Ins urance Co mpany of America, Inc.
Like many of the best car insurance companies, Geico created its telematics program, DriveEasy, in an effort to help keep roads safer and help policyholders save money. The program is currently ...
He said more than 130 companies compete for private passenger auto business and more than 70 companies write homeowners insurance. GEICO’s actions in California come as company commissioned Walk ...
In 1936, Goodwin established GEICO operations in Washington, D.C. By the end of 1936, there were 3,700 GEICO policies in force and a total staff of 12 people. He believed that "if he lowered costs in the company by marketing directly to carefully targeted customer groups, he'd be able to pass along lower premiums and still earn a profit".
For instance, GEICO’s identity theft protection plan starts out as low as $7.99 per month, according to the carrier’s website. You can also purchase a separate identity theft protection policy ...