Geico's Customer Base: Millions Strong

The Government Employees Insurance Company, or GEICO, is the second-largest auto insurer in the US. It provides coverage for more than 28 million vehicles owned by over 15 million policyholders. GEICO is a wholly-owned subsidiary of Berkshire Hathaway and is headquartered in Chevy Chase, Maryland.

GEICO insures more than 28 million vehicles

GEICO, or the Government Employees Insurance Company, is an American auto insurance company that provides coverage for more than 28 million vehicles owned by over 15 million policyholders. It is the second-largest auto insurer in the United States, after State Farm, and is a wholly owned subsidiary of Berkshire Hathaway.

GEICO was founded in 1936 by Leo Goodwin Sr. and his wife, Lillian Goodwin, to sell auto insurance directly to federal government employees and their families. The company has expanded its customer base over the years and now provides insurance to a wide range of customers, including those employed in the private sector.

In addition to auto insurance, GEICO offers a range of other insurance options, including motorcycle, ATV, RV, boat, snowmobile, travel, pet, event, homeowner, renter, and jewelry insurance. The company has a strong presence in the market, with over 38,000 associates, 18 major offices across the country, and 24-hour service availability.

With more than 28 million vehicles insured, GEICO is a significant player in the American auto insurance industry, providing coverage to millions of customers across the nation.

GEICO has more than 15 million policyholders

GEICO, the Government Employees Insurance Company, has more than 15 million policyholders. The company was founded in 1936 by Leo Goodwin Sr. and his wife, Lillian Goodwin, with the aim of providing auto insurance directly to federal government employees and their families. Over the years, GEICO has expanded its customer base and now provides insurance to a wide range of customers, including those employed in the private sector.

GEICO is headquartered in Chevy Chase, Maryland, and is a wholly owned subsidiary of Berkshire Hathaway. The company offers a range of insurance options, including auto, motorcycle, ATV, RV, boat, snowmobile, travel, pet, event, homeowner, renter, and jewelry insurance. It is well-known for its advertising campaigns, including its mascot, the GEICO Gecko.

As of 2017, GEICO provided coverage for more than 24 million motor vehicles owned by more than 15 million policyholders. The company has continued to grow, and as of 2024, it insures more than 28 million vehicles with more than 16 million auto policies in force. This makes GEICO one of the largest auto insurers in the United States, known for its competitive rates and wide range of discounts.

GEICO's success can be attributed to its direct-to-consumer sales model, which eliminates the cost of middlemen. The company has a limited number of local offices and agents compared to its competitors, which helps keep overhead costs low. GEICO passes these savings on to its customers, offering some of the lowest average rates in the industry.

In addition to its competitive rates, GEICO also offers a variety of discounts, such as vehicle safety, good driver, military, and multi-vehicle discounts. The company's robust digital tools and 24/7 customer service make it a convenient choice for policyholders who prefer to manage their policies online or over the phone.

GEICO is the second-largest auto insurer in the US

GEICO, or the Government Employees Insurance Company, is the second-largest auto insurer in the US. It was founded in 1936 by Leo Goodwin Sr. and his wife, Lillian Goodwin, with the aim of selling auto insurance directly to federal government employees and their families.

The company has since expanded its customer base and now provides insurance to a wide range of customers, including those employed by the government and those in the private sector. GEICO insures more than 28 million vehicles owned by more than 15 million policyholders.

In addition to auto insurance, GEICO also provides insurance for motorcycles, ATVs, RVs, boats, snowmobiles, travel, pets, events, homeowners, renters, and jewelry. The company is headquartered in Chevy Chase, Maryland, and operates as a wholly-owned subsidiary of Berkshire Hathaway.

GEICO's success can be attributed to its direct-to-consumer sales model, which eliminates the cost of middlemen, allowing the company to have fewer local offices and agents, and pass the savings on to its customers. The company also offers a range of discounts and has a robust mobile app and online platform, making it a popular choice for those seeking affordable and convenient insurance options.

GEICO's average annual rate is below the national average

The Government Employees Insurance Company, or GEICO, is an American auto insurance company that provides coverage for more than 28 million vehicles owned by over 15 million policyholders. GEICO's average annual rate is below the national average, making it an attractive option for many drivers.

GEICO's auto insurance rates are hundreds of dollars cheaper than the national average, with a sample annual rate of $1,778, compared to the national average of $2,068. This makes GEICO the fifth-cheapest car insurance company in the US. GEICO's rates are lower than the national average for all demographics, including male and female teen drivers, young adults, adults, and seniors. The company also offers competitive rates for drivers with a speeding ticket or accident on their record, with rates 8% lower than the national average after one speeding ticket and 5% lower after an accident.

GEICO's low rates are particularly notable for drivers with poor credit, with a sample rate that is 34% lower than the national average. Additionally, GEICO offers a wide range of discounts, including anti-lock brakes, anti-theft systems, daytime running lights, good student, federal employee, and multi-vehicle discounts. These discounts can help policyholders further reduce their costs and make GEICO an even more affordable option.

GEICO's low rates and wide range of discounts have contributed to high customer satisfaction, with 77% of those surveyed saying they are likely or very likely to recommend the company. GEICO also ranks highly in customer service and claims handling, with 53% of survey respondents completely satisfied with the company's customer service and over 53% satisfied with the ease of contacting customer service. In terms of claims handling, 45% were completely satisfied with the ease of filing a claim, and nearly 55% were satisfied with how their claim was resolved.

Overall, GEICO's average annual rate, which is below the national average, coupled with its high customer satisfaction ratings and wide range of discounts, makes it a competitive choice for many drivers seeking affordable and reliable car insurance.

GEICO offers insurance in all 50 US states

GEICO, the Government Employees Insurance Company, offers insurance in all 50 US states and the District of Columbia. The company was founded in 1936 by Leo Goodwin Sr. and his wife, Lillian Goodwin, to sell auto insurance to federal government employees and their families.

Since then, GEICO has expanded its customer base to a wide range of customers, including those employed in the private sector. The company now provides a variety of insurance options, including auto, motorcycle, ATV, RV, boat, homeowners, renters, and jewellery insurance.

GEICO's services are available across the US, making it accessible to a diverse range of individuals and businesses. The company has established itself as a prominent insurance provider by catering to the diverse needs of its customers, regardless of their location within the country.

As of 2017, GEICO provided coverage for more than 24 million motor vehicles owned by over 15 million policyholders. The company continues to be a leading insurance provider in the US, known for its accessibility and wide range of insurance offerings.

GEICO's presence in all 50 states ensures that individuals across the country can access their services and benefit from their comprehensive insurance options. This nationwide reach has contributed to GEICO's reputation as a reliable and convenient insurance provider for Americans from all walks of life.

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