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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Thanks in advance.
do you have to login and send an internal email to Geico? Thanks
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.
Anyways, e-mailing them now to try and get the discount, thanks OP
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I think for sending email, you need to login to your account, and click on "Contact Us"
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]
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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]