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Their print ads are comprised mainly of mail circulars. GEICO does their advertising in a variety of ways, including print, radio ads and television parody advertisements. Motorcycle, boat, home, apartment and mobile home insurance can be purchased though the company, as can personal umbrella protection. GEICO offers more than just vehicle insurance. These special rates routinely bring in more customers for GEICO. Military customers can get special rates, discount options and more with GEICO insurance while serving the country during wartime and peacetime. Since the founding of GEICO in 1936, the company has served the United States Military as best as possible with many special programs. Fortune Magazine has named Berkshire Hathaway’s property-casualty insurance operation the most admired in the United States for two years in a row. Warren Buffet, head of Berkshire Hathaway, has become one of the nation’s most successful investors. Today, GEICO still keeps their business costs low so that they can pass on discounts to their clientele.īerkshire Hathaway took on GEICO as a subsidiary in 1996. In order to offer the lowest possible rates, Goodwin managed to keep the company’s operating costs low, thereby passing on the savings as up front discounts to policyholders. Leo Goodwin began his insurance business with the belief that he could offer vehicle insurance at lower rates by marketing his business straight to prime customer groups. GEICO insurance was originally developed to target mainly military and government personnel.
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The name GEICO originated in 1936, when the business was founded by Leo Goodwin.