Government Employees Insurance Company, more commonly known as GEICO, is an insurance company for auto-mobiles. This subsidiary is wholly owned by Berkshire Hathaway, which (as of the year 2007) covered over thirteen million auto-vehicles which were owned by over twelve million insurance policy holders. Additionally, the GEICO insurance company writes automobile insurance for private passengers in the fifty states in the USA and also in the U.S District of Columbia. Unlike other insurance companies which rely on their agents to sell their policies, GEICO has been known to use the direct-consumer model of sale. In turn, the funds that would have been spent paying agents is put into purchasing TV ads with several ads running concurrently in the national markets. GEICO History. Founded by Leo Goodwin Sr.

Data Backup 3 Mac Serial Box. And his wife Lillian back in the year 1936, GEICO insurance was founded to directly provide federal government employees, along with their families, with auto insurance. Goodwin had previously worked with an insurer (USAA) which specialized in insuring military personnel. He later on ventured on his own after he had been promoted to the highest position any civilian could in a hierarchy dominated by the USAA military. Based on the experience he got while working at the USAA, the original model for GEICO insurance was founded on the basis that federal employees coming as one group would constitute a more financially stable and less risky pool of cover compared to general publics. Even though the GEICO name has the word government in it, it isn’t affiliated with government organizations and has always been a private company. The Pro’s Of The GEICO Insurance Company GEICO expedites emergency and towing services for its members very professionally.