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

+60 Deal Score
166,872 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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Deal
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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 Jun 2006
L7: Teacher
> bubble2 2,450 Posts
327 Reputation
nyknicks8
04-23-2014 at 03:48 PM.
04-23-2014 at 03:48 PM.
Misrepresentation for a discount should not be grounds for denying a claim. There is no way for them to prove you didnt own the stock.
Reply
Joined May 2004
L8: Grand Teacher
> bubble2 3,405 Posts
Deal Hound
04-23-2014 at 04:13 PM.
04-23-2014 at 04:13 PM.
Quote from nyknicks8 :
Misrepresentation for a discount should not be grounds for denying a claim. There is no way for them to prove you didnt own the stock.
I still wouldn't lie about it. Insurance companies are notorious for trying their best to squirm their way out of paying claims.
Reply
Joined Sep 2008
L5: Journeyman
> bubble2 949 Posts
846 Reputation
Phantomchess
04-23-2014 at 04:19 PM.
04-23-2014 at 04:19 PM.
Quote from shoprunner :
What did you exactly say in your email? TY
That I am a Berkshire shareholder lol
Reply
Joined Dec 2005
L5: Journeyman
> bubble2 700 Posts
153 Reputation
Pras_Srini
04-23-2014 at 04:27 PM.
04-23-2014 at 04:27 PM.
Quote from Phantomchess :
That I am a Berkshire shareholder lol
Hmm, I'm a BRK.B stock owner, but I have covered calls sold against the entire position, at the $115 strike price for June. So technically, it is a hedged position and in-the-money (as the value is north of $126 today) and I will be called-out in June. I wonder if I submit a screenshot of the position, they might agree to the discount. Sadly, I drive a beater and so the discount will not amount to more than $15.
Reply
Joined Jul 2009
L6: Expert
> bubble2 1,130 Posts
77 Reputation
eonaxes
04-23-2014 at 04:38 PM.
04-23-2014 at 04:38 PM.
whenever I try to stack on more discounts to Geico they always say I already have the max discount I can possibly have
Reply
Joined May 2004
L8: Grand Teacher
> bubble2 3,405 Posts
Deal Hound
04-23-2014 at 05:13 PM.
04-23-2014 at 05:13 PM.
Quote from Pras_Srini :
Hmm, I'm a BRK.B stock owner, but I have covered calls sold against the entire position, at the $115 strike price for June. So technically, it is a hedged position and in-the-money (as the value is north of $126 today) and I will be called-out in June. I wonder if I submit a screenshot of the position, they might agree to the discount. Sadly, I drive a beater and so the discount will not amount to more than $15.
If the GEICO peon who looks at your screenshot knows what a covered call is, I would be shocked. And besides, being short the call doesn't change the fact you do in fact currently own the stock. And you never know...those calls might not still be in the money by June expiration. If your shares are called away, you could always buy one share if the discount is enough to bother.
Reply
Joined Nov 2012
L3: Novice
> bubble2 219 Posts
26 Reputation
JK_INDY
04-23-2014 at 05:30 PM.
04-23-2014 at 05:30 PM.
got -We have received your question regarding a premium reduction for being a Berkshire Hathaway shareholder, and we are delighted to assist you today.

In order to apply this discount we would require proof that you are a shareholder. Examples of proof are:

A letter to shareholders with your name on it
An invitation to vote by proxy
Reply

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Joined May 2004
Commie
> bubble2 14,301 Posts
2,893 Reputation
BalkiBartokomous
04-23-2014 at 06:08 PM.
04-23-2014 at 06:08 PM.
Quote from nyknicks8 :
Misrepresentation for a discount should not be grounds for denying a claim. There is no way for them to prove you didnt own the stock.
Actually they can, in several ways. Whether they will go through the trouble or not is a different story. Also to those that don't know:

  • GEICO [wikipedia.org] – Berkshire acquired GEICO in January 1996.[28] [wikipedia.org] GEICO is headquartered in Chevy Chase, Maryland [wikipedia.org], and its principal insurance subsidiaries include: Government Employees Insurance Company, GEICO General Insurance Company, GEICO Indemnity Company, and GEICO Casualty Company. Over the past five years, these companies have offered primarily private passenger automobile insurance to individuals in all 50 states and the District of Columbia. GEICO markets its policies primarily through direct response methods in which applications for insurance are submitted directly to the companies via the Internet or by telephone.[25] [wikipedia.org]
Reply
Last edited by Killerz April 23, 2014 at 06:10 PM.
Joined Nov 2004
L7: Teacher
> bubble2 2,294 Posts
1,862 Reputation
yoshapman
04-23-2014 at 06:13 PM.
04-23-2014 at 06:13 PM.
Quote from eonaxes :
whenever I try to stack on more discounts to Geico they always say I already have the max discount I can possibly have
Same here
Reply
Joined Aug 2004
L3: Novice
> bubble2 130 Posts
19 Reputation
kevyli
04-23-2014 at 07:30 PM.
04-23-2014 at 07:30 PM.
Tried in Georgia and was told that I have the best price already and no other discount can be applied.
Reply
Joined Apr 2006
L4: Apprentice
> bubble2 496 Posts
42 Reputation
TheStig540
04-23-2014 at 07:43 PM.
04-23-2014 at 07:43 PM.
Is this stack able with the CU discount?
Reply
Joined Sep 2009
L3: Novice
> bubble2 251 Posts
26 Reputation
jt80
04-23-2014 at 10:41 PM.
04-23-2014 at 10:41 PM.
Quote from M3Li :
Tried in Georgia and was told that I have the best price already and no other discount can be applied.
Tried in TN and same response. No additional discounts - told to call back at renewal time.
Reply
Joined Aug 2011
L4: Apprentice
> bubble2 487 Posts
68 Reputation
abodd
04-24-2014 at 12:05 AM.
04-24-2014 at 12:05 AM.
are the shares really 192, 000 or am I retarded?
Reply
Joined May 2004
L8: Grand Teacher
> bubble2 3,405 Posts
Deal Hound
04-24-2014 at 12:36 AM.
04-24-2014 at 12:36 AM.
Quote from abodd :
are the shares really 192, 000 or am I retarded?
Your eyes are not deceiving you. It actually traded at an all-time record high of $191,800 today.
Reply

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Joined Aug 2010
L9: Master
> bubble2 5,603 Posts
332 Reputation
Pro
gamingdroid
04-24-2014 at 01:04 AM.
04-24-2014 at 01:04 AM.
So I have a savings for being an engineer i.e. occupational discount, but can I stack this?

Buying one share of BRK.B for a mere $130 would easily save me $160 a year, due to the number of people I insure!

When did BRK.B split anyhow? They used to be $3000+ per share.
Reply
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