Wondering if GEICO can offer you the best deal on renters insurance? There is only one way to find out for sure. Get FREE quotes and compare! Its easy. Save time, effort and money too.
GEICO is well known throughout the United States as a provider of auto insurance, but throughout their history they have also sold other types of insurance, including renters insurance. Their strength comes from the unique way that they market their products, saving money by marketing directly to consumers. While most other insurance companies have traditionally used agents as salesmen, GEICO has always opted for a different, direct to consumer sales strategy. They have put the money that would normally go into agent commissions into an aggressive marketing strategy, including very well known humorous television advertising campaigns featuring their company mascot, a gecko lizard with a cockney accent.
GEICO was founded back in 1936, and stands for “Government Employees Insurance Company.” Despite it’s name, it is not and never has been part of the US government or associated with any government organization. The founders of the company just decided that federal government employees were particularly safe to insure. Originally they only issued policies to government employees, but in 1973 they opened up their services to the general public.
GEICO is currently a wholly owned subsidiary of Berkshire Hathaway Inc, Warren Buffett’s conglomerate holding company. Buffett acquired the company in 1996.
AM Best has given GEICO their A++ Superior rating for financial strength, which is an extremely high rating. A++ is the highest rating that AM Best gives out, and very few insurance companies gain such a high rating.
Standard and Poor’s has awarded GEICO an AA+ rating, which indicates that their analysts think GEICO’s financial strength is particularly strong. They have also awarded GEICO a “Security Circle” designation, further affirming their appraisal of GEICO’s financial position.
Moody’s also rates GEICO’s financial strength very highly, with an AA1 rating. This indicates that GEICO has a very high financial strength with very low risk of not meeting their obligations.
GEICO has achieved significant honors when it comes to customer satisfaction. The Forrester Survey found that consumers rated GEICO “Superior” in 2007, and customers had a very positive perception of the company.
These findings were corroborated by the Kanbay Research Institute, which rated GEICO as the insurer that consumers most desired. There were particularly encouraging findings when it came to customer service.
The Customer Respect Group found that GEICO outperformed all other insurers when it comes to how they treat their online customers. These findings came from an online survey. Consumers complimented GEICO staff communication skills, and a simple website that is clear, easy to understand and intuitive to navigate.
You may want to have a look at the GEICO Facebook page and Twitter.
It’s very wise to get an array of insurance quotes when it comes to getting renters insurance. It might be the case that GEICO renter’s insurance is the best one for you on the marketplace, but you shouldn’t purchase until you’ve looked at some other deals.
You should always get at least three insurance quotes before you make your final decision on your renter’s insurance. It’s the only way to be sure you are getting the best deal possible.