GEICO insurance is a company that provides many types of insurance and allows you to receive GEICO quotes. It was founded in 1936 by Leo Goodwin and his wife Lillian Goodwin. In the beginnings of the company GEICO marketed their insurance to federal government employees and their families. Goodwin thought that these people represented a more financially stable and less risky pool of insures then the general public. Once real time access to computerized driving records became available in the 1970?s GEICO began to insure the general public. They use mainly telephone and internet to sell their policies, which cuts back on paying actual insurance agents, allowing the company to save money and offer lower insurance premiums.
GEICO stands for Government Employees Insurance Company, and is now a wholly owned subsidiary of Berkshire Hathaway which provides coverage for over 10 million motor vehicles in the United States. While Government is still in the company name, GEICO is a publicly owned company and insures all populations of motorists.
GEICO insurance is currently the third largest auto insurance company in the United States. It has used many effective marketing campaigns such as commercials which feature the GEICO gecko as well as the GEICO caveman, which actually spawned a sitcom on TV (which was canceled quickly). The major taglines are ?15 minutes could save you 15% or more off car insurance? and ?So simple even a caveman could do it?. Another interesting thing about GEICO is that to get a GEICO quote for their auto insurance you must go directly to the GEICO website.
GEICO now offers coverage in most US states. It is currently the third largest auto insurance company in the US, employing 24,000 employees as well as receiving revenues of $9.21 billion in 2004.
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