What does GEICO stand for?
While most people simply refer to the company as GEICO, the name is an acronym that stands for Government Employees Insurance Company. It was originally called Government Employees Insurance Company because it was targeted at federal employees and certain categories of enlisted military officers.
GEICO was founded in 1936 by Leo and Lillian Goodwin in the Great Depression.
Did you know that the GEICO Gecko didn't make its advertising debut until 1999? It was such a popular ad campaign that the Gecko is still the face of the company two decades later.
Is GEICO just car insurance?
GEICO's largest insurance product is car insurance coverage for drivers and insurance for other vehicles. It does offer other types of insurance products including personal property and business insurance.
However, GEICO acts as an insurance agency for home and renters insurance and sells products through other licensed insurance companies through the GEICO Agency. The policies are managed by GEICO and you can still qualify for multi-policy discount savings if you purchase home or renters insurance from GEICO along with GEICO car insurance.
Is GEICO an A rated company?
GEICO earned an A++ rating from A.M. Best, which is considered superior.
Does Warren Buffett own GEICO?
GEICO is a wholly-owned subsidiary of Berkshire Hathaway, which is led by Warren Buffett. GEICO has been owned by Berkshire Hathaway since 1996.
Does GEICO use credit?
In states where it is allowed, GEICO does look at a credit-based insurance score to determine your car insurance rate. Insurance-related inquiries don't count negatively against your credit score.
Your credit is just one of the many factors that determine your GEICO car insurance rates along with your driving history, the type of car you drive, and many others. Your credit history can legally be used to determine your car insurance premium in all states except California, Hawaii, and Massachusetts.
Can I Learn More About GEICO Insurance?
GEICO's website is a great place for online access to learn more about the company's offerings, make a payment, request a GEICO policy renewal, submit a claim, or request support.
GEICO's mobile app also allows you direct access to everything GEICO has to offer. With GEICO mobile, users can chat with trained agents, access digital ID cards, request roadside assistance, receive vehicle care, and more.
Prime Time Contract is a GEICO program for drivers over the age of 50, offering automatic renewal on a GEICO policy. Drivers must be at least 50 years old, have no operators under the age of 25, no violations or accidents in the past three years, and can't be using their vehicle for business purposes. It's not available in all states.
How Does GEICO Compare With Other Carriers?
You can compare GEICO's features side by side with Progressive and other carriers. The most common request is to compare GEICO vs. Progressive