You’ve seen the commercials. Everyone likes the animated GEICO gecko, but not many people know much about the history of GEICO. Founded in 1936, the Government Employees Insurance Company (GEICO) originally covered military and government employees.
Today, GEICO serves millions of private sector accounts and is the second-largest auto insurance agency in the country.
GEICO services 17 million auto insurance policies covering 24 million vehicles. There are more than 40,000 employees in 17 large offices across the country. GEICO also offers life insurance, flood insurance, general liability insurance, commercial auto insurance, classic car insurance, comprehensive coverage, and more.
GEICO became a wholly-owned subsidiary of Berkshire Hathaway in 1996.
GEICO offers excellent discount programs for U.S. military personnel. The company even has a team of military retirees who work with military policyholders. It’s also great for drivers who want to compare auto insurance quotes and buy a policy online.
But if you’ve been in an accident before, GEICO can charge you a high premium. A low credit rating can also increase your premium by hundreds.
GEICO offers many discounts but unfortunately does not offer discounts for driving electric or hybrid cars. With some of the lowest rates in the world, GEICO is hard to beat.
Founded in 1937, Progressive is the third-largest insurance company in the United States with more than ten million policyholders and 33,000 employees.
Customers may know this company from a popular ad campaign featuring Progressive’s fictional insurance salesman, Flo.