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Geico Car Insurance 8% discount for owning berkshire hathaway stocks YMMY

+60 Deal Score
166,744 Views
If you have an existing insurance with Geico or planning an insurance with GEICO, this will help you. Also you need to have a brokerage account to buy the shares into. If you already have both Geico and also own some shares of BRK.B / BRK.A call Geico and ask for "Berkshire Affiliation Discount". If you have other affiliation discounts, then this doesn't apply.

1. Buy One or more shares of BRK.B into your brokerage account. This is the stock you need to buy to get discount
https://www.google.com/finance?q=NYSE%3ABRK.B
2. Call GEICO customer care 1-800-861-8380 and inform them that you are a share holder of Berkshire Hataway and you want to add affiliation discount program to your account.

They do not check if you really own the shares. Also they won't ask how many shares you own. So buying just one or two will be ok. Also once you are in the discount program you can sell the shares.

For the people who are wondering why GEICO give you discount for owning a stock of Berkshire,

Berkshire is a Holding company headed by Warren Buffet and owns mejority of Geico Insurance Company.

http://boards.fool.com/geico-10-s...t=username

http://forums.anandtech.com/showt...?t=2306551

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Community Wiki

Last Edited by sedakill January 22, 2015 at 02:01 PM
List discount percent for your state:

Florida: 0%
New York: 1%
Connecticut : 8%
New Jersey : 8%
Illinois : 10%
Pennsylvania: 8%
Oregon: 9%
Arizona: 8%
Virginia : 8%
Colorado: 8%
More discount possibilities:

Accounting Organizations


Institute of Internal Auditors
Institute of Management Accountants
Investors Alliance, Inc.
National Society of Accountants
National Directory of Registered Tax Return Preparers and Professionals Ltd
Virginia Society of Certified Public Accountants




Attorney Organizations


Alabama State Bar
Alameda County Bar Association
American Immigration Lawyers Association
Colorado Bar Association
Delta Theta Phi Law Fraternity
District of Columbia Bar
Florida Bar
Hawaii State Bar Association
Illinois State Bar Association
Kansas Bar Association
Kentucky Bar Association
Louisiana State Bar Association
National Association of Assistant U.S. Attorneys
National Association of Criminal Defense Lawyers
Phi Delta Phi, International Legal Fraternity
San Diego County Bar Association
South Carolina Bar Association
State Bar of Arizona
State Bar of Georgia
State Bar of New Mexico
State Bar of Texas
Tennessee Bar Association




Engineering Organizations


American Society of Civil Engineers
Association of Energy Engineers
International Society of Automation
National Society of Black Engineers
National Society of Professional Engineers
Society of Manufacturing Engineers
Society of Motion Picture and Television Engineers
Society of Women Engineers
Theta Tau Professional Engineering Fraternity




Financial Organizations


Investors Alliance
National Association of Credit Management




Medical Organizations


American Academy of Audiology
American Academy of Pediatrics
American Association of Registered Nurses
American Association for Respiratory Care
American Association of Women Dentists
American College of Clinical Pharmacy
American College of Radiology
American Dental Hygienists' Association
American Heart Association
American Medical Student Association
American Occupational Therapy Association
American Osteopathic Association
American Pharmacists Association
American Physical Therapy Association
American Public Health Association
American Society for Clinical Pathology
American Speech-Language-Hearing Association
Association for Play Therapy
Association of Women's Health, Obstetric and Neonatal Nurses
Kappa Psi Pharmaceutical Fraternity
Medeon
Medical Society of the District of Columbia
National Board for Certification of Orthopaedic Technologists
National Register of Health Service Providers in Psychology
Pennsylvania Academy of Family Physicians and Foundation
Student Osteopathic Medical Association




Professional Development Organizations


Alabama Retired State Employees' Association
American Alliance of Museums
American Business Women's Association
American Association of Diabetes Educators
American Association of Family and Consumer Sciences
American Horticultural Therapy Association
American Library Association
American Society of Appraisers
American Society for Clinical Laboratory Science
American Society for Training and Development
Application Developers Alliance
Association for Education and Rehabilitation of the Blind and Visually Impaired
Association of American Geographers
Association of Schools of Public Health
Business and Professional Women's Foundation
California Association for the Education of Young Children
Executive Women's Golf Association
Florida Association of Museums
Freelancers Union
Future Business Leaders of America/Phi Beta Lambda
Georgia Retired Educators Association
Golden Key International Honour Society
Hispanic Alliance for Career Enhancement
International Association of Administrative Professionals
International Association of Chiefs of Police
International Association of Workplace Professionals (IAWP)
International Furnishings and Design Association
Licensed Professional Counselors Association
Kansas City Regional Association of Realtors
Kentucky Association of Realtors
Kentucky Counseling Association
MBA Corps, Inc.
mediabistro
Miami Association of Realtors
National Association for Female Executives
National Association of Credit Management
National Association of Professional Women
National Child Care Association
National Contract Management Association
National Management Association
National Notary Association
National Peace Corps Association
National Sheriffs' Association
New York County Lawyers' Association
Organization of American Historians
Public Relations Society of America
Registry of Interpreters for the Deaf
Sales & Marketing Executives International
San Diego Association of REALTORS®
Society of American Foresters
Society of Professional Journalists
Society for Human Resource Management
The Endocrine Society




Scientific Organizations


American Association for the Advancement of Science
American Physical Society
American Society for Cell Biology
American Society for Microbiology
Sigma Xi, The Scientific Research Society




Technical Organizations


Association of Information Technology Professionals
The Computing Technology Industry Association (CompTIA)
Independent Telephone Pioneers Association
Women In Technology International

180 Comments

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Joined Aug 2011
L2: Beginner
> bubble2 99 Posts
60 Reputation
Mr_actuarial
04-23-2014 at 07:14 AM.
04-23-2014 at 07:14 AM.
Woot! 9% discount in IL after a quick email! Thanks and repped.
Reply
Joined Jan 2011
L3: Novice
> bubble2 288 Posts
89 Reputation
TerenceLiang
04-23-2014 at 08:03 AM.
04-23-2014 at 08:03 AM.
marked.
Reply
Joined Apr 2006
L2: Beginner
> bubble2 76 Posts
124 Reputation
smak
04-23-2014 at 08:05 AM.
04-23-2014 at 08:05 AM.
Thanks for the post OP. Sent an email and got a quick reply that I'm already receiving the "ultra preferred rate" and that if they applied the discount, my rate would go up. Sounds like they only apply affiliation rates to the "standard rate."
Reply
Joined Jan 2011
L3: Novice
> bubble2 288 Posts
89 Reputation
TerenceLiang
04-23-2014 at 08:05 AM.
04-23-2014 at 08:05 AM.
I can only find phone number / mail address from contact us on geico.com, can anyone please tell me how to find the email address so I can contact them regarding this discount?

Thanks in advance.
Reply
Joined Apr 2006
L6: Expert
> bubble2 1,233 Posts
55 Reputation
zmmnj
04-23-2014 at 08:12 AM.
04-23-2014 at 08:12 AM.
Can you share the email address you used ?
do you have to login and send an internal email to Geico? Thanks

Quote from iceberg716 :
Woot! 9% discount in IL after a quick email! Thanks and repped.
Reply
Joined Jul 2011
L11: Grand Poobah
> bubble2 364 Posts
jonx
04-23-2014 at 08:15 AM.
04-23-2014 at 08:15 AM.
I logged in, sent an email, and got a super fast response. I got 5% in NJ
Reply
Joined Oct 2004
L6: Expert
> bubble2 1,552 Posts
1,053 Reputation
tenken
04-23-2014 at 08:20 AM.
04-23-2014 at 08:20 AM.
Quote from blueiedgod :
I found that insurance companies offer low price on one product, and then jack up the other.

For our situation, Geico is lowest for car insurance, progressive is lowest for Motorcycle insurance, and Liberty Mutual is lowest for homeowners and Landlord insurance.

They tell you that you get multi-policy discounts if you bring all of the products under one roof, but the discounts are not enough to bring the total lower than just piece mealing it together.
THIS exactly for me. Car through Geico, Motorcycle through Progressive, and homeowners through Liberty Mutual. Combining policies under any of the above companies results in a much higher cost than having it all separate.

Anyways, e-mailing them now to try and get the discount, thanks OP
Reply

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Joined Jun 2010
L5: Journeyman
> bubble2 600 Posts
444 Reputation
Original Poster
foster_sharma
04-23-2014 at 08:20 AM.
04-23-2014 at 08:20 AM.
Quote from TerenceLiang :
I can only find phone number / mail address from contact us on geico.com, can anyone please tell me how to find the email address so I can contact them regarding this discount?

Thanks in advance.
Quote from smak :
Thanks for the post OP. Sent an email and got a quick reply that I'm already receiving the "ultra preferred rate" and that if they applied the discount, my rate would go up. Sounds like they only apply affiliation rates to the "standard rate."

I think for sending email, you need to login to your account, and click on "Contact Us"
Reply
Joined Aug 2011
L5: Journeyman
> bubble2 619 Posts
70 Reputation
hxlee
04-23-2014 at 08:27 AM.
04-23-2014 at 08:27 AM.
I have a question. If you claim you're with an affiliate that you're not for a discounted. Then you get into an accident. Would they be able to deny paying the claim if they find out?
Reply
Joined Nov 2011
L7: Teacher
> bubble2 2,131 Posts
585 Reputation
ranjanrocks
04-23-2014 at 08:29 AM.
04-23-2014 at 08:29 AM.
woot woot!!!! saved me $45 instantly....they did not ask for any verification of stock ownership.....thanks op Smilie
Reply
Joined May 2004
Are Ya Feelin Lucky PUnk?
> bubble2 5,655 Posts
954 Reputation
PRINTABLECOUPON
04-23-2014 at 08:30 AM.
04-23-2014 at 08:30 AM.
Quote from hxlee :
I have a question. If you claim you're with an affiliate that you're not for a discounted. Then you get into an accident. Would they be able to deny paying the claim if they find out?
y risk it just buy 1 share and then sell it. cost is like 12 bucks worth of commision.
Reply
Joined Dec 2007
LΩ: Anti-Luddite
> bubble2 1,438 Posts
975 Reputation
IGGUS
04-23-2014 at 08:35 AM.
04-23-2014 at 08:35 AM.
Thanks OP.

Ahh the insurance industry.... WTF does my stock portfolio have to do with how much money I have to pay to someone who (might) cover the cost of losses related to my, or other people's automobiles? Or my credit score, level of education, etc etc.....

Auto Insurance. Something you are required to have, but when time comes to file a claim, most people will try anything else besides actually telling their insurance company.

[/rant]
Reply
Joined Aug 2010
L9: Master
> bubble2 5,931 Posts
1,610 Reputation
aaba78
04-23-2014 at 08:38 AM.
04-23-2014 at 08:38 AM.
can you just lie and not buy any stocks like you can do for the other discounts.. safe driving airbag..blah blah
Reply
Joined Jun 2012
L3: Novice
> bubble2 125 Posts
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bmmr
04-23-2014 at 08:46 AM.
04-23-2014 at 08:46 AM.
Thanks so much. Worked for me. And repped
Reply

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Joined Dec 2010
L3: Novice
> bubble2 217 Posts
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weihan127
04-23-2014 at 08:50 AM.
04-23-2014 at 08:50 AM.
Quote from IGGUS :
Thanks OP.

Ahh the insurance industry.... WTF does my stock portfolio have to do with how much money I have to pay to someone who (might) cover the cost of losses related to my, or other people's automobiles? Or my credit score, level of education, etc etc.....

Auto Insurance. Something you are required to have, but when time comes to file a claim, most people will try anything else besides actually telling their insurance company.

[/rant]
Not sure about this deal (probably is just Warren Buffett's way of thanking people for their loyalty and investment in BRK), but things like credit score, level of education, etc are all about correlation and underwriting. No insurance company has the time or ability to evaluate each individual policy holder about their worthiness or risk in driving, but given years and years of data that correlates each dimension of data to insurance risk, they can build a framework for underwriting these policies for anyone that applies in a very short time (i.e. instantaneous quotes) and in an automated way.
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