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

+60 Deal Score
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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




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Alabama State Bar
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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
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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
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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 May 2009
L2: Beginner
> bubble2 40 Posts
29 Reputation
muyoo
04-23-2014 at 11:06 AM.
04-23-2014 at 11:06 AM.
I emailed them and they asked for proof

------------
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:
........
........
---------------------------------

then I called them and got the discount on the phone...
Reply
Joined Jan 2010
L3: Novice
> bubble2 105 Posts
23 Reputation
leptons
04-23-2014 at 11:34 AM.
04-23-2014 at 11:34 AM.
Quote from muyoo :
I emailed them and they asked for proof

------------
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:
........
........
---------------------------------

then I called them and got the discount on the phone...
I emailed them, and they said I need proof for the discount. Called in, the lady told me again they need proof.... I have an online broker account and buying stocks won't be that hard. But how do you get "proof" for a stock purchase?
Reply
Joined May 2009
L2: Beginner
> bubble2 40 Posts
29 Reputation
muyoo
04-23-2014 at 11:42 AM.
04-23-2014 at 11:42 AM.
Quote from leptons :
I emailed them, and they said I need proof for the discount. Called in, the lady told me again they need proof.... I have an online broker account and buying stocks won't be that hard. But how do you get "proof" for a stock purchase?
I was not asked for proof on the phone ( btw I dont' have any proof look around )

my question: should I buy one stock to be on the safe side?
Reply
Joined May 2006
L5: Journeyman
> bubble2 910 Posts
170 Reputation
haydeno
04-23-2014 at 11:57 AM.
04-23-2014 at 11:57 AM.
Quote from muyoo :
I was not asked for proof on the phone ( btw I dont' have any proof look around )

my question: should I buy one stock to be on the safe side?
would suck to have a big claim and be denied due to misrepresentation
Reply
Joined Aug 2008
L5: Journeyman
> bubble2 628 Posts
348 Reputation
Chimay
04-23-2014 at 12:23 PM.
04-23-2014 at 12:23 PM.
I tried the email route, and was told that I need a document stating I own shares (perhaps an account statement) or, the CSR's examples: a letter to shareholders with your name on it, an invitation to vote by proxy.

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
Reply
Joined Sep 2011
L3: Novice
> bubble2 106 Posts
34 Reputation
mailych
04-23-2014 at 12:23 PM.
04-23-2014 at 12:23 PM.
Quote from ric0suave :
You can also save 3% if you're a Bank of America customer and link your payments to Geico.
How does this work? Auto pay the premium with BofA credit card? Will I automatically see the discount?

Thanks in advance.
Reply
Joined Jan 2014
L4: Apprentice
> bubble2 440 Posts
130 Reputation
SlickBrahma
04-23-2014 at 12:59 PM.
04-23-2014 at 12:59 PM.
Darn, not available for commercial policies. Maybe esurance has something...
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Joined Jan 2004
L4: Never been better
> bubble2 780 Posts
61 Reputation
iampakky
04-23-2014 at 01:41 PM.
04-23-2014 at 01:41 PM.
what is new here? the discount has been offered for years!

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.
Reply
Joined Aug 2005
Boom goes the dynamite
> bubble2 1,381 Posts
284 Reputation
Mr. Beefy
04-23-2014 at 01:46 PM.
04-23-2014 at 01:46 PM.
1.5% in NC
Reply
Joined Jun 2010
L5: Journeyman
> bubble2 600 Posts
444 Reputation
Original Poster
foster_sharma
04-23-2014 at 02:03 PM.
04-23-2014 at 02:03 PM.
Quote from iampakky :
what is new here? the discount has been offered for years!

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.
There is nothing NEW.
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
Reply
Joined May 2004
L8: Grand Teacher
> bubble2 3,405 Posts
Deal Hound
04-23-2014 at 02:08 PM.
04-23-2014 at 02:08 PM.
Quote from leptons :
I emailed them, and they said I need proof for the discount. Called in, the lady told me again they need proof.... I have an online broker account and buying stocks won't be that hard. But how do you get "proof" for a stock purchase?
I would think they would be content with a trade confirmation or brokerage statement. Most people hold stock in street name these days, so it's not like they can expect people to furnish copies of stock certificates.
Reply
Joined May 2004
Commie
> bubble2 14,301 Posts
2,893 Reputation
BalkiBartokomous
04-23-2014 at 02:53 PM.
04-23-2014 at 02:53 PM.
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.
When I had a perfect driving record I got the best rate from Travelers fir home/auto/umbrella combined. MUCH better than any 1 company was offering on any of their products so I guess it depends on person and location. I got into a minor fender bender this summer (totally my fault) and my rate jacked $1200 a year!!! GEICO at that point was only about $600 more a year than what I was paying so I jumped ship to them for all 3 policies. Funny how they give me a better rate with a worse record than with a good one Big Grin

Quote from iampakky :
what is new here? the discount has been offered for years!

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.
A friend I know works for them and knows they take misrepresentations very seriously. Don't know how they would respond to illegible discounts, but if it is easy enough for you to just buy the 1 share, I would just do it.
Reply
Last edited by Killerz April 23, 2014 at 02:57 PM.
Joined Nov 2010
L3: Novice
> bubble2 105 Posts
30 Reputation
goosew
04-23-2014 at 03:00 PM.
04-23-2014 at 03:00 PM.
For arguments sake, what if you just claim that you sold off the share...... is there anywhere (fine print), which says that they need to be updated for any changes in your portfolio?
Reply
Joined May 2004
Commie
> bubble2 14,301 Posts
2,893 Reputation
BalkiBartokomous
04-23-2014 at 03:06 PM.
04-23-2014 at 03:06 PM.
Quote from goosew :
For arguments sake, what if you just claim that you sold off the share...... is there anywhere (fine print), which says that they need to be updated for any changes in your portfolio?
You technically have a "duty" to report to them all changes in circumstances etc.... I got the "need proof" email as well. I have a share so I will email them a screen shot of my account and see what they say. I am in NY so I doubt I will see much discount anyway.
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Joined Oct 2010
L3: Novice
> bubble2 137 Posts
32 Reputation
Slickdealerrrrr
04-23-2014 at 03:39 PM.
04-23-2014 at 03:39 PM.
5 minutes could save you 8%.
Reply
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