GEICO Car Insurance

We all need to have car insurance in case we get into an auto accident. There are many auto insurance carriers available to choose from. What about GEICO?

History of GEICO

Lee Goodwin formed the Government Employees Insurance Company, or GEICO, in 1936 to service federal employees and military officers. The company reported steady growth throughout the 1930’s and 1940’s. During 1951, Jimmy Buffet purchased his first block of block of GEICO stocks. Goodwin retired in 1958, but left the company in good hands. By 1965, the company had sold over one million policies and had opened its first drive-in claims office. The 1970’s proved to be a little more difficult. However, the company worked on improving its underwriting and reserve accounts during this period and regained its health. And, Buffet bought another block of stock in 1976. During the 1980’s and 1990’s, the GEICO became more customer service oriented and improved customer relations. In 1995, Buffet bought all of GEICO’s outstanding stock through his Berkshire Hathaway Investment Firm. Today, GEICO insures over six million auto owners and has $15.7 billion in assets.

What Info Do You Need for a Quote?

GEICO requires the same type of information that most car insurance companies require, such as your age, marital status, number of autos to be covered, and your driving record. In addition, GEICO will ask you if you are a member of one of over two hundred groups that are affiliated with the company, including alumni associations, credit unions, fraternal organizations, organizations for members of the military, and business and professional organizations. Such organizations include the Air Force Sergeants Association, Cedar Point Federal Credit Union, James Madison University Alumni Association, the National Council for Geographic Education, and the Senior Executives Association If you are a member of one of these organizations, getting auto insurance with GEICO will probably save money.