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The Government Employees Insurance Company, more popularly known as GEICO, sells private car insurance. But despite having the word “government” within the name, Geico Insurance is actually a private company. GEICO operates in 50 states within the US and also the District of Columbia. GEICO prefers to use a direct-to-consumer sales model, rather than employing agents. The company then invests these funds toward television advertisements. Its mascot, which you may have seen on TV already, is a computer-animated gecko with a British accent.
During May 2010, A.M. Best’s rating of GEICO’s overall outlook was “stable” for the long term. In regards to overall financial strength, GEICO earned an “Excellent” rating of A++. This is the highest achievable rating from A.M. Best. And in regards to GEICO’s credit rating, the company has also earned themselves a AAA rating, meaning that they should have no problems meeting their financial obligations to customers.
Obviously, GEICO is renowned for their auto insurance coverage. However, success in recent years has caused GEICO to evolve into the type of insurance company which issues many different policies, including:
Most customers simply think that GEICO is all about offering a lower premium than their competitors. But did you know that GEICO also offers competitive discounts as well? Some of these include, but are certainly not limited to:
According to the JD Powers and Associates 2010 National Auto Insurance Survey, GEICO earned four out of a possible five stars amongst all of the five categories measuring consumer satisfaction. In addition, the October issue of Consumer Reports magazine performed a survey similar to that of JD Power and Associates. According to their data, GEICO came in 13th place out of a possible 22 other surveyed companies. It should be noted, though, that the number of people surveyed as well as the number of insurance companies evaluated were both smaller sample sizes than those used by JD Power and Associates.