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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Please do tell. I have been with Geico for over 7 years now, which has lead to long-term customer discounts. I have done at least 1 car insurance quote every year, and only once found one that would beat Geico (barely) for both my wife and I.
I stayed with Geico, however, because they have best customer service I have dealt with. Aren't you sick of dealing with non-english speaking customer service reps, long-hold times, and bad information? I reward Geico with my business simply for not selling out.
for us, progressive was the cheapest by a huge margin. geico was one of the cheaper ones, while smaller and/or highly-rated companies like amica, ameriprise, and usaa were absurdly expensive and couldn't even be considered.
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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
https://www.geico.com/landingpage...l
More discount possibilities:
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BTW, all insurance companies offer discounts for affiliations. You just have to ask. My Nationwide agent singed me up to some NASCAR fan club website for free and it gave me a 4% affiliation discount.
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