(800) 253-1482GEICO
Summary: Founded in 1936 by Leo and Lillian Goodwin, GEICO started as a small insurer for federal employees and military personnel, growing into one of the world’s largest insurance carriers. Warren Buffett’s investment guided GEICO through financial challenges, and under CEO Olza “Tony” Nicely’s leadership in the 1990s, a bold advertising push with the now-famous Gecko mascot made the company a household name. Now a Berkshire Hathaway subsidiary, GEICO offers auto, home, renters, motorcycle, and commercial insurance, plus services like DriveEasy, roadside assistance, and Mechanical Breakdown Insurance. Today, over 17 million policyholders trust GEICO’s affordable and accessible coverage. Estimated Read Time: 9 mins
Quick Facts About Allstate:
- Standard or Non-Standard: Both
- Mutual or Stock: Stock (Subsidiary of Berkshire Hathaway)
- NAIC Number: 35882
- Headquarters: 5260 Western Avenue, Chevy Chase, MD, 20815
- CEO: Todd Combs
- M. Best Rating: A++ (Superior)
- BBB Rating: A+
- Products Offered: Auto, Boat, Commercial, Condo, Home, Landlord, Motorcycle, Renters, RV, Umbrella, and much more.
- Features You’ll Love:
- The GEICO app makes it easy to manage your policy and contact your carrier whenever you need to.
- Known for their bundles, GEICO specializes in providing personalized protection for less.
- From roadside assistance to easy claims filing processes and more, GEICO delivers popular modern features and excellent customer service—including free accident forgiveness for loyal customers.
In 1936, Leo and Lillian Goodwin launched an auto insurance company during the Great Depression, known as the Government Employees Insurance Company (GEICO), initially serving federal employees and select military personnel.
Lillian Goodwin played a crucial role, in managing marketing, accounting, and underwriting, enabling the company to write 3,700 policies and hire 12 staff in its first year.
In 1948, investment banker Lorimer Davidson joined GEICO, connecting the company with influential investors.
Davidson introduced GEICO insurance to Benjamin Graham, who would become Warren Buffett’s mentor and a key investor.
The investment from Benjamin Graham laid a strong foundation for GEICO’s future growth.
These early connections and investments helped establish GEICO as a major force in the insurance industry.
Warren Buffett first encountered GEICO in 1951, sparking his interest and leading to his initial stock purchase.
Leo Goodwin retired in 1958, and Lorimer Davidson took over, later opening the company’s new headquarters in Chevy Chase, Maryland, in 1959.
GEICO expanded significantly in the 1960s, reaching over 1 million policyholders by 1964 and generating $150 million in premiums by 1965.
The passing of the Goodwins in the 1970s challenged the company, revealing issues in its loss reserves from rapid expansion.
GEICO used this challenge to improve its underwriting and reserving practices, solidifying a stronger fiscal reputation by the late 1970s.
Buffett increased his investment in GEICO in 1976, purchasing an additional 1 million shares.
The 1980s focused on prudent underwriting and growth, highlighted by the launch of 24/7 claims service in 1980.
In 1993, Olza "Tony" Nicely became chairman and CEO, initiating a new strategy to broaden GEICO’s customer reach and increase advertising.
Buffett’s Berkshire Hathaway acquired a major stake in GEICO in 1995, leading to GEICO becoming a subsidiary by 1996.
These strategic moves helped GEICO become a leader in the insurance industry and secured Buffett’s long-term involvement.
In the 21st century, GEICO cemented itself as a household name for insurance by introducing its iconic Gecko mascot and its Cavemen advertising campaign—both still utilized in its modern marketing efforts.
Since then, the company has continued to grow and provide its millions of policyholders with a variety of perks and features to better suit their needs.
This includes programs, such as the GEICO Auto Repair Xpress® that helps prioritize your vehicle when it needs to be fixed, roadside assistance, the GEICO mobile app, pet insurance, affordable home and auto bundles, and much, much more.
Over 17 million policyholders trust GEICO with their insurance needs as they continue to innovate affordable products while maintaining personalized customer service.
How Much is GEICO Insurance?
How much your insurance costs through GEICO is going to be different for everyone because of personal factors, where you live, the amount of coverage you need, your credit history, and much more.
Generally speaking, if you have fewer risk factors, you’re going to pay less money for your premiums.
To get an accurate GEICO quote for your needs, you can either contact an agent online or by call (972) 798-3769, to find a personalized estimate tailored to your needs.
Below, are the averages Texans are paying for home and auto insurance from GEICO and forms for quick, accurate quotes:
GEICO Car Insurance Quotes in Texas
Protecting yourself on and off the road doesn’t have to be complicated or expensive. GEICO auto insurance options help Texans personalize their coverage, protect what they need to, and save in the process.
Need a GEICO car insurance quote? Fill out the form below and get a free, no-obligation estimate personalized to your needs:
GEICO Reviews
Regarding GEICO’s customer service, financial strength, and overall well-being, the insurer remains in high regard. The carrier maintains an A++ (Superior) rating from A.M. Best and an A+ rating from the Better Business Bureau (BBB) making it a highly-rated, trusted option for Texans.
GEICO Insurance Options
Chances are, you’ve seen the commercials and know that GEICO is a great option for auto insurance, however, there are many different property and casualty options available to meet your needs both on and off the road.
Here are some of the most popular GEICO insurance options available and how they protect you:
GEICO Car Insurance
Through its many subsidiaries, GEICO represents four of the top 40 auto insurers in Texas, including the fourth largest brand policyholders trust.
Not only does GEICO auto insurance provide customers with a variety of affordable coverages, including liability, comprehensive, full coverage, and more, but their customer service is also top-notch.
Furthermore, GEICO offers customers great perks and features, including roadside assistance, bundles, discounts, apps, and much more.
GEICO Home Insurance
Protecting your home comes in many different forms, which is why GEICO homeowners insurance helps you personalize your protection so that you’re better ready for what may come.
Texans have a lot to look out for, including severe thunderstorms, hail, tornados, theft, and more. GEICO home insurance is there when you need to provide affordable coverage and excellent customer service.
Don’t forget—you can bundle your home and auto insurance policies to enjoy even better protection and more savings.
GEICO Motorcycle Insurance
If you’re a rider, GEICO motorcycle coverage is available for all types of bikes, including sport bikes, cruisers, touring bikes, and scooters, with affordable options to match your riding needs.
Your policy automatically includes the first $2,000 in accessory coverage at no extra charge, protecting the customizations and extras that make your bike unique.
GEICO is proud to protect you on the road and provides plenty of affordable options, including essential coverages, such as bodily injury, collision, comprehensive, and personal injury protection.
Furthermore, you’ll find plenty of specialty coverages for accessories, helmets, and emergency roadside assistance, along with discounts that help you save.
GEICO Commercial Insurance
If you own a business, then you know the importance of safeguarding your interests.
Not only are you as an owner or an entity facing potential losses but liability and other losses can affect the lives of your clients, employees, and stakeholders.
GEICO commercial insurance offers many different coverage options, including auto, various liability coverages, business owner’s, workers’ comp, and much more.
GEICO Renters Insurance
Having GEICO renters insurance coverage means peace of mind that your personal belongings are covered from perils like fires, break-ins, etc. Your policy is also helpful in protecting you from liability if someone is injured while visiting.
GEICO Umbrella Insurance
Home and auto insurance can only cover so much if you're sued or found liable for damages.
A GEICO umbrella insurance policy offers an additional layer of financial protection—up to $1 million—to safeguard your assets, providing an affordable safety net and greater peace of mind.
GEICO Boat Insurance
GEICO's boat insurance offers liability and damage protection in accidents, covering injury or property damage to others and theft of your motorboat, sailboat, or personal watercraft (PWC).
Typical policies include coverage for the hull, machinery, furnishings, and attached equipment, helping to safeguard your financial investment and enjoyment on the water.
Through GEICO Marine Insurance Company and specialized support from BoatUS, you can gain peace of mind for your watercraft in storage, on the water, and everywhere in between.
GEICO Condo Insurance, Landlord, and More
Texas policyholders can find comprehensive property and casualty insurance options with GEICO, designed to meet a wide range of needs.
From tailored coverage for condos and specialized boat insurance to landlord protection, GEICO insurance offers flexible policies that help safeguard what matters most to you.
With options that adapt to your unique property requirements, GEICO makes it easy to find the right coverage for your lifestyle in the Lone Star State.
Should You Enroll in the GEICO DriveEasy?
DriveEasy is GEICO’s safe-driving program that rewards users with savings based on driving behavior tracked through the GEICO Mobile app.
The app automatically logs behaviors like braking, distance driven, and phone usage, which contributes to a safe driving score using telematics based on the company's algorithm.
DriveEasy includes features like trip tracking, safe driving reminders, and a crash assist function to help file claims, aiming to enhance user safety and convenience.
GEICO uses this score to adjust your insurance rate at each renewal; safer driving may lead to discounts, while riskier driving can increase rates.
Signing up might come with an initial discount, and safe driving could yield up to a 25% savings on premiums, though riskier behavior may reduce or eliminate discounts altogether.
Furthermore, if you live in a city, due to the nature of urban driving requiring often a lot of short braking and quick lane changes, the app may not benefit you as a driver either.
There are also risks of being penalized due to the misinterpretation of phone usage while driving and you'll need to be comfortable handing over your data.
Overall, GEICO DriveEasy can be an excellent tool for safe drivers to be rewarded through discounts but whether or not it's up to you will vary based on the many factors listed above.
Does GEICO Cover Rental Cars?
Start by checking your GEICO auto insurance policy. Most personal auto insurance covers rental cars within the U.S. for damages and liability, however, everyone’s individual coverage will vary.
Next, consider the type of rental vehicle you have. If it’s similar in value to your car, your existing coverage should be enough. However, for a luxury rental, like a sports car, the rental company’s insurance may be worth it for added protection.
Lastly, personal auto insurance might not cover charges like “loss of use” or business rentals.
For added peace of mind, think about adding a Loss-Damage Waiver (LDW) from the rental company to fill in any coverage gaps, and remember, knowing your coverage can save you from paying for extra, duplicate insurance.
Does GEICO Cover Windshield Replacement?
GEICO’s comprehensive auto insurance coverage covers windshield or glass damage in most cases, providing you with a quick and easy claim process to get your repairs or replacement done seamlessly.
You can report damage online and set up an appointment that works for you.
If your window is completely broken, protect your car’s interior by parking it in a garage or covering the opening, and handle any broken glass carefully to avoid injury.
Does GEICO Have Gap Insurance?
Unfortunately, one of the few auto policy options not offered by GEICO is gap insurance. While this is not ideal for all drivers, there are still plenty of ways to personalize your coverage that may still work for your needs.
Does GEICO Cover Blown Head Gaskets?
If you have GEICO’s Mechanical Breakdown Insurance (MBI), you may be able to cover a blown gasket affecting your vehicle and a lot more.
MBI covers repairs for all mechanical parts on your vehicle, excluding maintenance or regular wear and tear.
The coverage is designed to help get you back on the road quickly with high-quality repairs, minimizing the inconvenience of downtime.
However, remember not to start any repairs until you receive authorization from GEICO. Otherwise, if you don't allow your carrier to complete its investigation, you may put your claim approval at risk.
