Who owns Geico insurance? This question is about GEICO

Geicois owned by Berkshire Hathaway, which is led by well-known investor Warren Buffet. Warren Buffett has owned shares of Geico stock since 1951, and Geico became a wholly-owned subsidiary of Berkshire Hathaway in 1996.Geico is the second largest auto insurer in the U.S. providing coverage for more than 28 million vehicles and over 17 million auto policy holders. Originally specializing in insurance for government workers, Geico has since expanded their customer base to offer affordable insurance rates in all 50 states. More Information About Geico's History Geico (Government Employees Insurance Company) was founded in 1936 by Leo and Lillian Goodwin to specialize in insurance for federal employees and enlisted military officers. In 1948, Geico found new investors through the help of investment banker Lorimer Davidson, who later was named Leo Goodwin's successor. Olza Nicely became the new chairman, president, and CEO of Geico in 1993. Nicely's efforts to expand the customer base ultimately got Buffet's attention, leading to Geico becoming a subsidiary of Berkshire Hathaway. For more information, check out WalletHub's full Geico review.

Ad Disclosure Ad Disclosure

Who owns Geico insurance?

Answer Question Report Abuse

This question is about GEICO

see this user

Lilah Butler, Car Insurance Writer

@lilah_c • 05/05/23 This answer was first published on 04/19/23 and it was last updated on 05/05/23.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

Permalink Report Abuse

Geicois owned by Berkshire Hathaway, which is led by well-known investor Warren Buffet. Warren Buffett has owned shares of Geico stock since 1951, and Geico became a wholly-owned subsidiary of Berkshire Hathaway in 1996.

Geico is the second largest auto insurer in the U.S. providing coverage for more than 28 million vehicles and over 17 million auto policy holders. Originally specializing in insurance for government workers, Geico has since expanded their customer base to offer affordable insurance rates in all 50 states.

More Information About Geico's History

Geico (Government Employees Insurance Company) was founded in 1936 by Leo and Lillian Goodwin to specialize in insurance for federal employees and enlisted military officers.
In 1948, Geico found new investors through the help of investment banker Lorimer Davidson, who later was named Leo Goodwin's successor.
Olza Nicely became the new chairman, president, and CEO of Geico in 1993.
Nicely's efforts to expand the customer base ultimately got Buffet's attention, leading to Geico becoming a subsidiary of Berkshire Hathaway.

For more information, check out WalletHub's full Geico review.

Answer Question

How do I get car insurance for the first time?

To get car insurance for the first time, drivers need to decide what coverage they need, gather their personal and vehicle information, and shop around for the best policy at the lowest price. A first-time driver should expect to pay up to 300% more for coverage than someone with more experience. But with research and a little bit of searching, first-time drivers can still find a policy that fits their budget.

How To Get...

read full answer

What is included in GEICO comprehensive coverage?

Geico comprehensive coverage pays for damage to your car that is not caused by a car accident. Comprehensive coverage by Geico will cover non-accident related damage caused to your car, like theft, vandalism, flooding, fire, and natural or man-made disasters.

How Geico Comprehensive Coverage Works

Your comprehensive coverage will pay for the cost of necessary repairs, as calculated by a Geico inspector, minus your deductible. Your deductible is the amount you have to...

read full answer

Are Geico insurance rates competitive?

Yes, Geico insurance rates are competitive, as the company is one of the 10 cheapest auto insurers nationally, according to WalletHub analysis. Geico car insurance customers pay an average of $462 per year for coverage. Geico's car insurance rates are based on your driving record and experience, along with factors like the type of car you drive, your ZIP code, your insurance history, and more. Your coverage and deductible choices also impact your final quote,...

read full answer

WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.

WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Ask a Question

140

Ask Question

Ask Your Question

WalletHub Transparency

We are committed to being fully transparent with our readers. Opinions expressed here are the author’s and/or WalletHub editors'. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. In addition, it is not any company’s responsibility to ensure all questions are answered.