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

+60 Deal Score
166,871 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 Dec 2013
help computa
> bubble2 95 Posts
22 Reputation
idlechill
04-23-2014 at 08:59 AM.
04-23-2014 at 08:59 AM.
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."
Same here...I'm already saving ~$96 with various discounts. Ah well, worth a shot.
Reply
Joined Nov 2010
L2: Beginner
> bubble2 26 Posts
14 Reputation
laveen6547
04-23-2014 at 09:01 AM.
04-23-2014 at 09:01 AM.
got it, thank you
Reply
Joined Oct 2008
L6: Expert
> bubble2 1,012 Posts
438 Reputation
riphamilton
04-23-2014 at 09:03 AM.
04-23-2014 at 09:03 AM.
2% in CT because of my boatUS membership.
Reply
Joined Jan 2007
bocondo
> bubble2 1,032 Posts
156 Reputation
bocondo
04-23-2014 at 09:03 AM.
04-23-2014 at 09:03 AM.
Good to know... I have GIECO for years, this deal shows 8 mins call can save 8%... I like it.
Reply
Joined Mar 2012
L2: Beginner
> bubble2 47 Posts
18 Reputation
Trips.Ts
04-23-2014 at 09:05 AM.
04-23-2014 at 09:05 AM.
If you live in Omaha or the area you should own a share of BRK.B. I will get $127 worth of free drinks and food alone out of their shareholder meeting. Throw on the Geico discount, Nebraska Furniture Mart discount (just over cost) and a ton of others and it pays for itself.
Reply
Joined Nov 2012
L5: Journeyman
> bubble2 1,573 Posts
542 Reputation
rking0122
04-23-2014 at 09:10 AM.
04-23-2014 at 09:10 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?
It is possible, but unlikely. That would be called "reverse underwriting". That usually only happens if the ins. co. really believes they are being scammed, and usually happens only on very large claims. IF the insurance company can prove that they would have not written the policy had they known of the "error", or would have written it on substantially different terms, they can claim "misrepresentation" and rescind the policy. You'd be entitled to your premium back, but no coverage for your claim. (At least that's how we would do it in Arizona, anyway. I suspect most states are similar.)

Short answer, you're almost never likely to deal with this, especially on an auto policy. After an accident, it is hugely unlikely they're ever going to investigate your affiliate status.
Reply
Joined Jan 2012
L1: Learner
> bubble2 17 Posts
10 Reputation
kevmanjr
04-23-2014 at 09:11 AM.
04-23-2014 at 09:11 AM.
Quote from Phantomchess :
emailed them, 10 mins later got it. ty
What did you say in your email?
Reply

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Joined Feb 2006
L3: Novice
> bubble2 173 Posts
25 Reputation
Ari Ben Canaan
04-23-2014 at 09:19 AM.
04-23-2014 at 09:19 AM.
Nice find! Got 8% in NJ.
Reply
Joined May 2007
Reps > Posts
> bubble2 716 Posts
772 Reputation
zoym
04-23-2014 at 09:20 AM.
04-23-2014 at 09:20 AM.
Quote :
Dear XXXXXX XXXXXX:

We have received your request to update your Group Affiliation information and are happy to assist you further.

Currently, your policy would not qualify for an additional discount. Due to your excellent company rating, this information will be considered in your overall rate rather than showing as a discount. We apologize for any confusion this may cause.

We have listed your affiliation with this organization, however, and in the event that an additional discount becomes available in the future, it will automatically be added.

We hope this information has been helpful.

Thank you for using our online services. We appreciate your business and look forward to serving your insurance needs for years to come.

Sincerely,
XXXXXXX

no luck for me tho...
Reply
Joined Mar 2013
L3: Novice
> bubble2 205 Posts
41 Reputation
daslyvillian
04-23-2014 at 09:22 AM.
04-23-2014 at 09:22 AM.
I have to say thank you to OP..

I just copied and paste what Nick2618 said

"I recently saw online if you hold stock in Berkshire Hathaway you are eligible for a discount form Geico. What information do I need to submit in order to get this applied to my account.

Thanks "

Lowered my monthly premium from 180 to 167

SD comes through again!
Reply
Joined Nov 2005
Certified Bargain Hunter
> bubble2 533 Posts
1,519 Reputation
AZDryHeat
04-23-2014 at 09:26 AM.
04-23-2014 at 09:26 AM.
Nothing for me. Frown

Dear XXXXXX:

We received your request for a discount for being a stockholder in Berkshire Hathaway. I would be happy to assist you with this request.

Because you are receiving our ultra-preferred rate, the savings amount you would receive from this discount is already determined in your base rate. If you were receiving a standard rate and this discount, your six-month premium would be more than your current premium.

At this time, you are receiving all eligible discounts on the policy.

Thank you for using our online services. We appreciate your business and look forward to serving your insurance needs for years to come.

Sincerely,

XXXXXXXXX
GEICO Internet Service Representative
Reply
Joined Sep 2011
L5: Journeyman
> bubble2 852 Posts
432 Reputation
GaGaGeGe
04-23-2014 at 09:27 AM.
04-23-2014 at 09:27 AM.
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."
Same for me. As per them, am already on the ultra preferred rate lol
Reply
Joined Mar 2013
L3: Novice
> bubble2 205 Posts
41 Reputation
daslyvillian
04-23-2014 at 09:28 AM.
04-23-2014 at 09:28 AM.
Quote from GaGaGeGe :
Same for me. As per them, am already on the ultra preferred rate lol
Well how are you all receiving the ultra preferred rate?
Reply
Joined Jul 2007
L5: Journeyman
> bubble2 626 Posts
155 Reputation
Bhishdawg
04-23-2014 at 09:29 AM.
04-23-2014 at 09:29 AM.
Boom! I'm ultra preferred also, but still got $28 refunded to me (and on an ongoing basis). Woohoo thanks!
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Joined Aug 2011
L3: Novice
> bubble2 257 Posts
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Atahualpa
04-23-2014 at 09:33 AM.
04-23-2014 at 09:33 AM.
Created an account with OptionsHouse to buy 1 share...... it costs $127...... I have 0 experience with the stock market so I'm probably going to skip on this deal Frown
Reply
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