GEICO Auto Insurance

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GEICO Auto Insurance Coverage

GEICO began providing insurance to government employees in 1936 and was named after them: Government Employees Insurance Company. GEICO offered auto insurance coverage to low risk drivers but has expanded to cover high risk drivers as well.

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GEICO has found that driving down costs brings drivers by the droves into its fold. A wholly owned subsidiary of Warren Buffett's Berkshire Hathaway, GEICO has traditionally provided auto insurance and other insurance to preferred low-risk demographic groups (such as government and military employees) but has also begun to sell to nonstandard (high-risk) drivers. In addition to auto coverage, the company's offerings include motorcycle insurance and emergency road service. GEICO eschews agents in favor of direct marketing through such vehicles as direct mail, TV, radio, and the Internet.

GEICO has a long history with government employees. The company was originally started to serve their insurance needs, and GEICO's founder Leo Goodwin made it a point to name the company after them - Government Employees Insurance Company. They were GEICO's first customers in 1936 and the strong bond that was formed then remains today.

Fiscal Year End: December
Revenue (2005): 10101.00 M
Revenue Growth (1 yr): 13.30%
Employees (2005): 20,417
Employee Growth (1 yr): (5.00%)

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