GEICO Auto Insurance

A company founded by husband and wife duo, Leo and Lillian Goodwin in the midst of The Great Depression was initially targeted towards federal employees and military officers, hence its full name, Government Employees Insurance Company. However, in 1951 when Warren Buffet decided to purchase his first share of GEICO stock, which would not be his last, the company began to see some substantial increase in revenue and business. Within its first year of business, GEICO had written 3,700 policies. GEICO quickly passed the 1 million policyholder mark in 1964 and in 1965 insurance premiums reached $150 million. Net earnings also doubled to $13 million just one year later. In the early 1990s, GEICO's advertising budget significantly increased, which propelled GEICO toward much higher national visibility. Warren Buffett soon made a generous bid for the remaining shares of GEICO's outstanding stock, and by 1996, GEICO was a subsidiary of one of the most profitable organizations in the country. With Warren Buffett behind an already successful GEICO, it only got better. Advertising was a huge avenue for Geico, with its many ads flooding the airwaves and mailboxes nationally. Quickly, in 2000, GEICO introduced the world to the Gecko, which soon became the face of GEICO, and what millions of people could soon associate GEICO Insurance with. With so much success, due to advertising and the integrity of the company, GEICO soon passed the 5 million policyholder mark in 2002. To date, GEICO is the largest auto insurer in New York, Maryland, the District of Columbia and Hawaii, offering insurance in all 50 states. GEICO passed its 11 million policyholders mark in 2012.

GEICO is known for having the best customer service around. In the 1980s, GEICO introduced a 24-hour a day, 365-day a year telephone service for claims, sales and service. Their website, is extremely user-friendly, hassle-free and as their recognized catchphrase states, "so easy even a caveman can do it." GEICO has a wide variety of services to help everyone, for example, The GEICO Auto Repair Xpress, which gives policyholders a full service package of extras like onsite adjusters and rental vehicle reservation services. In 2010 GEICO offered mobile users the ability to quote and buy a policy from mobile-friendly pages on their iPhone and Android mobile devices. GEICO remains committed to the values on which it was founded: excellent coverage, low prices, and outstanding customer service.

Although GEICO is dubbed as one of the most recognizable and used insurance companies, a few customers have found that the roadside assistance that is offered through GEICO isn't as quickly as it should be. Some have even said that because of GEICO's quick response to claims, that the body shops often feel rushed causing poor quality and service, with the customers receiving reconditioned parts, and long waiting periods.

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