Geico Insurance – Everything That You Need To Know

geico insurance

Hey there, do you want to know all about Geico Insurance? Do you want to know how you can get it? Or, what it will cost? No matter what your question is, we are here to help. Dont’ worry, in this article – you will get to know all about Geico auto insurance…

Millions of people in the US trust Gecio because it provides sooth claim experience and it’s quite affordable. It’s the 2nd largest car insurance provider in the United States with thousands of happy customers. How do we know they are happy? Well, just look at the numbers of positive Geico auto insurance ratings.

We have done another research – in that we rated Gecio as the overall best car insurance provider. Now, it’s time to dive deep. We will look at why it’s the top auto insurance provider and other stuff. We will cover – the perks, options, and much more. Let’s begin…

Company Overview – Geico

Geico Insurance

Geico is the short form of Government Employees Insurance Company. It was started way back in 1936 for serving the needs of government employees. However, today it provides services irrespective of your profession. You can avail its services in 50 states. If you are a federal employee you can still get discounts and special programs.

It is a part of Berkshire Hathaway known as the company of the multi-billionaire investor Warren Buffet. In 2019 only, according to a report by the National Association of Insurance Commissioners wrote over 34bn$ in premiums of Geico.

There are many notable ratings for the company. It has A+ ratings by the AM Best which is the highest possible for any service. What it means – Geico can cover any financial burden pretty easily.  Geico also boasts of an A+ rating from the Better Business Bureau (BBB) and tons of 5+ reviews from tens of thousands of happy consumers.

Our Rating

We rate Geico a solid 4.8 out of 5. It’s the best overall auto car insurance providers in 2021. It’s available throughout the nation, it comes at an affordable rate, an easy claim process, great reviews from the top institutes and consumers. If you’re looking for a car insurance provider in the United States then you should seriously consider Geico, it’s one of the best for a reason. You shouldn’t ignore this provider!

The History Of Geico Auto Insurance

The history of this company is quite fascinating. It was started by the wife and husband team of Lillian and Leo Goodwin, they were pretty brave as it was also the time of the great depression.

The company started as the Government Employee Insurance Company i.e, the long form of the word Geico. The target clients were federal employees and some parts of listed military officers. Only in a period of 1 year, they wrote 3,700 policies and hired a team of 12 members.

A few years later in 1948, Benjamin Graham who was a business professor invested in the company. Later, he was the teacher of Warren Buffet. He also purchased some stocks later which made history.

A few decades later in the 70s, Buffet again made an appearance. He purchased stocks worth $1m. In the 1980s, Geico auto insurance launched new services which include – 24hours a day, 365 days a year telephone services for claims, services, and sales. Serving customers is still the top priority of the company.

In the 1990s, under the new CEO Olza “Tony” Nicely the company was going strong. Later Buffet’s Berkshire Hathaway investment made a decision to buy all the remaining shares of the company. By 1996, Geico was a subsidiary of Berkshire Hathaway.

Geico Auto Insurance Mobile Apps

One of the best things about registering with Geico is that you will be able to access all the stuff with the help of your mobile phones. They are updated with the current standards. Here are a few things you can do with the Geico auto insurance Mobile app – you can easily view all of your documents, file claims, pay bills and even request roadside assistance.

More than 2 million users have rated the app and it’s current rating is 4.8 which is excellent! Also, depending on your plan you can also do stuff like scheduling – rentals, repairs and inspection. They also have another app – DriverEasy, it’s a a usage-based driving app and is now available in a few states.

DriverEasy is a great app. It tracks the things that you do with your vehicle like distracted driving, using hand brakes, and how much time you spend on the roads. Even though this app can’t increase the insurance rates you will get, it can lower them. The app isn’t as liked as the former, it only has 2.6-star ratings on the app store. The common complaints being the lowering of battery life while using the app, it lowers the battery life fast.

Types Of Geico Auto Insurance Coverage

Geico is a full auto insurance provider, there aren’t many services you can’t give from them. There are six types of standard auto car insurance that Geico provides –

  • Collision Insurance.
  • Medical payments (MedPay).
  • Liability auto insurance.
  • Uninsured/underinsured motorist coverage (UM/UIM).
  • Comprehensive Car Insurance.
  • Personal injury protection (PIP).

Apart from these usual insurances, Geico also provides additional coverage that makes it stand out from the rest. Here are some of the additional coverages –

  • Roadside Assistance – This service includes: jump-starts, towing to a repair shop, spare tire installation, etc. The fee is 14$ per year.
  • Rideshare Insurance – If you work for a riding company like Lyft, Ola or Uber you will be covered while working.
  • Rental Car Reimbursement – You will be able to pay for the cost of a rental car while your car gets repaired.
  • Mechanical Breakdown Insurance – It’s like an extended warranty. However, Geico will only cover you if your car has fewer than 15,000km or is under 15 months old.

The clients of Geico are pleased because the services offered are amazing. There are just a few instance of clients not finding what they are looking for.

How Much Does Geico Insurance Cost?

When comparing to other auto insurance providers, Geico is quite insurance. The exact price depends on many factors like how many kms your vehicle has run, your age, etc. You can get the exact price by getting a free quote.

Final Thoughts…

Ahoy folks, this was all there was about Geico, one of the best car insurance provider. There are many other players in this industry but it remains close to the top. There are only a few auto insurance providers that give competition to Geico.

Geico isn’t limited to auto insurance, here are some of the other insurance they provide –

  • Condo Insurance
  • Homeowners Insurance
  • Condo Insurance
  • Boat Insurance
  • and much more…

Even though Geico is a great option for most of the cars owners, we suggest that you also look at the other options and explore them. There are many factor that influence the best auto insurance for someone. So, keep a look at other insurance providers too. Thanks for reading this article.

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