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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Thank you for your recent inquiry about the discount regarding Berkshire Hathaway stock. We would be happy to assist.
At this time, we would need you to send us proof that you have stock with Berkshire Hathaway. Once we receive the documentation, we would be happy to make the appropriate adjustment to your policy.
For your convenience, you can provide this information to us via:
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then I called them and got the discount on the phone...
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Thank you for your recent inquiry about the discount regarding Berkshire Hathaway stock. We would be happy to assist.
At this time, we would need you to send us proof that you have stock with Berkshire Hathaway. Once we receive the documentation, we would be happy to make the appropriate adjustment to your policy.
For your convenience, you can provide this information to us via:
........
........
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then I called them and got the discount on the phone...
my question: should I buy one stock to be on the safe side?
my question: should I buy one stock to be on the safe side?
My investment in Berkshire Hathaway is through a fund, and they would not accept that as proof. Sent in an account statement that showed my investment and the fund's prospectus/composition showing investment in Berkshire Hathaway. Not good enough
Thanks in advance.
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for the one who was asked for the proof of stock ownership, don't bother calling them. just go online and get a quote with the discount. It can be done in 5 minutes. They don't bother to get a proof because as long as you dont file a claim, all yr premium is literally free money to them. A day you file a big claim, that could be a basis of denying claim if you lied.
for the one who was asked for the proof of stock ownership, don't bother calling them. just go online and get a quote with the discount. It can be done in 5 minutes. They don't bother to get a proof because as long as you dont file a claim, all yr premium is literally free money to them. A day you file a big claim, that could be a basis of denying claim if you lied.
Discounts were there for years now.
This thread only educate the people who were not knowing about those discounts.
Read this thread and you will understand many people didn't have a clue about the discounts being offered
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.
for the one who was asked for the proof of stock ownership, don't bother calling them. just go online and get a quote with the discount. It can be done in 5 minutes. They don't bother to get a proof because as long as you dont file a claim, all yr premium is literally free money to them. A day you file a big claim, that could be a basis of denying claim if you lied.
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