What Is GEICO Insurance?
GEICO stands for Government Employees Insurance Company. It was founded in 1936 by Leo and Lillian Goodwin, originally to provide auto insurance to U.S. government employees and military personnel. Today, GEICO is one of the largest auto insurers in the United States, serving millions of policyholders across the country. It is a wholly owned subsidiary of Berkshire Hathaway.
GEICO operates as a direct-to-consumer insurance company, meaning customers can purchase policies online, by phone, or through its mobile app without necessarily going through an agent. Here’s a breakdown of how it works:
1. Types of Insurance Offered
Auto insurance (its primary product)
Motorcycle, RV, and boat insurance
Homeowners and renters insurance (through partner companies)
Umbrella insurance
Life insurance (through partners)
Specialized coverage (e.g., jewelry, travel)
2. Policy Purchase & Management
Customers can get quotes online or via phone.
Policies are customizable with different coverage levels (liability, collision, comprehensive, etc.).
GEICO emphasizes competitive pricing and discounts (e.g., safe driver, military, multi-policy).
3. Claims Process
Claims can be filed online, via mobile app, or by phone.
GEICO uses a streamlined claims system with adjusters and repair shop networks.
Many claims can be tracked digitally, offering transparency and speed.
4. Customer Support
24/7 customer service.
Mobile app features include digital ID cards, roadside assistance requests, and claims tracking.
Affordability: Known for offering lower rates compared to competitors.
Convenience: Easy online and mobile management.
Brand Recognition: Famous advertising campaigns (like the GEICO Gecko).
Scale: Covers over 24 million vehicles for more than 15 million policyholders.
✅ In short: GEICO is a major U.S. insurance provider, best known for auto insurance, that works by offering direct, affordable, and easily managed policies with strong digital support.