Geico Auto Insurance Company was founded long before the Geico Gecko became its spokesperson. In fact, Geico, which stands for Government Employees Insurance Company, was founded in 1936 with the intention of only targeting government employees and military personnel. Now, the company targets both government employees and customers in the private sector, and offers affordable auto insurance policies to all. Read on and find out more about Geico Auto Insurance Company.
What is Geico’s Reputation Like?
You may not know this, but Geico is an indirect subsidiary that is owned by corporate giant Berkshire Hathaway, the same company who owns other large brands like See’s Candy, Fruit of the Loom, and BoatU.S. With a great reputation in the auto insurance industry, Geico has been named to the Ward’s 50 top group of financially high-performing insurers for more than 20 years straight. Geico has also been named the number 1 most desired insurer in Kanbay Research studies because of their high regard for customer service. If you are looking for competitive pricing, excellent service, and a wide-ranging product base, Geico may be a great carrier to consider.
How Many People Trust Geico to Provide Them With Quality Coverage?
When you are comparing auto insurance companies, one of the first things you need to understand is that every company files their own set of rates. One company may offer more competitive rates to you than another, but it is still important to determine if the coverage that this company provides is up to par. One way to tell if a company is trusted in the industry is to find out how many people buy policies from the brand. Geico currently holds more than 12 million active policies and insures more than 18 million vehicles nationwide. Obviously, Geico is a trusted carrier and this is the reason why the company is ranked #5 on the Fortune 500 list of top companies.
Another reason why Geico as an insurance company is ranked #5 is because the company is so very financially stable. Financial stability in the insurance industry and the financial industry as a whole is public record. As a consumer, you should always review financial ratings to see if a company has enough money to cover claims. There are plenty of respected agencies that gather information and rank insurers based on this data. Geico receives the highest financial rankings from all financial ratings agencies. With an AA+ from Standard and Poor’s, an Aa1 from Moody’s, and an A++ from AM Best, you will have peace of mind in knowing the company is not on the verge of bankruptcy.
Geico offers quality auto insurance and many other lines of insurance as well. As you compare car insurance quotes, take a look at the quotes that are offered to you by Geico, and see if the Lovable Gecko can help you save more money on car insurance.