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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




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

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Joined Oct 2007
L10: Grand Master
> bubble2 9,115 Posts
2,840 Reputation
blueiedgod
04-24-2014 at 05:31 AM.
04-24-2014 at 05:31 AM.
For what it is worth, Warren Buffet runs a tight ship. I certainly would not want to work for any of his companies. I know people who work for both Geico and The Buffalo News, both Berkshire Hathaway companies.

They are only allowed to print final copy, double sided. If they find single sided prints, or drafts/non-final version, people get in trouble.

You can not make a personal phone call using work phone, or even take a cell phone call while on the clock.

You can not use work computer to do personal stuff, even on your break.

They are constantly monitored by managers as to what they are doing, and if they need to be more efficient.

It really is like GULAG.
Reply
Joined May 2004
L8: Grand Teacher
> bubble2 3,405 Posts
Deal Hound
04-24-2014 at 07:03 AM.
04-24-2014 at 07:03 AM.
Quote from gamingdroid :
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.
They give engineers a discount? That's strange; I thought no one liked engineers. Maybe they think engineers are lower insurance risks since they spend most of their time holed up with a slide rule under a rock someplace.

BRK split the class B shares 50 for 1 in 2010 when they bought BNSF. It's hard to believe it's been four years.

Quote from blueiedgod :
For what it is worth, Warren Buffet runs a tight ship. I certainly would not want to work for any of his companies. I know people who work for both Geico and The Buffalo News, both Berkshire Hathaway companies.

They are only allowed to print final copy, double sided. If they find single sided prints, or drafts/non-final version, people get in trouble.

You can not make a personal phone call using work phone, or even take a cell phone call while on the clock.

You can not use work computer to do personal stuff, even on your break.

They are constantly monitored by managers as to what they are doing, and if they need to be more efficient.

It really is like GULAG.
How much is Warren paying that stupid lizard? I bet he doesn't skimp on the lizard's salary.
Reply
Joined Feb 2012
L3: Novice
> bubble2 176 Posts
94 Reputation
joeybean
04-24-2014 at 08:27 AM.
04-24-2014 at 08:27 AM.
This thread prompted me to double check the value I receive from GEICO. I started with Amica who advertised "79% of customers saved $200 or more from switching from GEICO". Their quote was actually 72% higher annually than my current GEICO policy.

In addition I have always received excellent customer care from GEICO.
Reply
Joined Dec 2010
L1: Learner
> bubble2 1 Posts
10 Reputation
mrodgers62
04-24-2014 at 08:55 AM.
04-24-2014 at 08:55 AM.
I am a shareholder of BRKB and called customer service and was told yes I could get the discount if I emailed proof in. I did that and was then told Massachusetts policies are ineligible. Crud!
Reply
Joined May 2004
L8: Grand Teacher
> bubble2 3,405 Posts
Deal Hound
04-24-2014 at 09:25 AM.
04-24-2014 at 09:25 AM.
Quote from mrodgers62 :
I am a shareholder of BRKB and called customer service and was told yes I could get the discount if I emailed proof in. I did that and was then told Massachusetts policies are ineligible. Crud!
As much of a fan of Warren Buffett as I am, I think he's been a bit misleading in promoting this discount to shareholders. In his most recent letter to shareholders, he says:

Quote :
GEICO will have a booth in the shopping area, staffed by a number of its top counselors from around the
country. Stop by for a quote. In most cases, GEICO will be able to give you a shareholder discount (usually 8%).
This special offer is permitted by 44 of the 51 jurisdictions in which we operate. (One supplemental point: The
discount is not additive if you qualify for another, such as that given certain groups.) Bring the details of your
existing insurance and check out whether we can save you money. For at least half of you, I believe we can.
Although everything he said is probably true, it leaves me with the impression a shareholder is likely to get an 8% discount off what they would otherwise be paying for a GEICO policy. Anecdotal evidence in this thread suggests most shareholders are only able to get a very small discount or no discount at all.

Furthermore, I imagine most people already get other discounts that make the shareholder discount moot. That seems to be the way of insurance companies: jack premiums up and bring them back to competitive levels by giving discounts out like candy. I pity the poor soul who isn't eligible for any discounts.
Reply
Joined Dec 2008
L2: Beginner
> bubble2 60 Posts
25 Reputation
tannedgecko
04-24-2014 at 10:09 AM.
04-24-2014 at 10:09 AM.
No go for Berkshire Hathaway in Massachusetts. But was able to add National Geographic affiliation discount
Reply
Joined Aug 2010
L9: Master
> bubble2 5,603 Posts
332 Reputation
Pro
gamingdroid
04-24-2014 at 03:18 PM.
04-24-2014 at 03:18 PM.
Quote from Deal Hound :
They give engineers a discount? That's strange; I thought no one liked engineers. Maybe they think engineers are lower insurance risks since they spend most of their time holed up with a slide rule under a rock someplace.
No, we are lower risk because we actually use our head and think before doing stupid sh!t that a lot of ahem,.... judgmental people tend to do.
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Joined May 2011
L3: Novice
> bubble2 135 Posts
19 Reputation
seolfor
04-24-2014 at 07:15 PM.
04-24-2014 at 07:15 PM.
got declined in rhode island.
Reply
Joined Jun 2008
L7: Teacher
> bubble2 2,770 Posts
711 Reputation
KaatuPaadi
04-24-2014 at 07:19 PM.
04-24-2014 at 07:19 PM.
Quote from seolfor :
got declined in rhode island.
Why Why ????nod
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Joined Jan 2010
slick_engineer
> bubble2 1,612 Posts
1,203 Reputation
Pro
spicytofu
04-24-2014 at 07:28 PM.
04-24-2014 at 07:28 PM.
lol I thought I read BRK Class A shares.....
Reply
Joined Jun 2008
L7: Teacher
> bubble2 2,770 Posts
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KaatuPaadi
04-24-2014 at 07:32 PM.
04-24-2014 at 07:32 PM.
Quote from spicytofu :
lol I thought I read BRK Class A shares.....

Bought 1 stock yesterday, Sent screenshot and it was applied right away...
Reply
Joined Apr 2006
L4: Apprentice
> bubble2 496 Posts
42 Reputation
TheStig540
04-24-2014 at 07:51 PM.
04-24-2014 at 07:51 PM.
Does this work with the credit union discount?
Reply
Joined Jan 2011
L4: Apprentice
> bubble2 486 Posts
33 Reputation
spyderdsm
04-24-2014 at 07:51 PM.
04-24-2014 at 07:51 PM.
what is the "ultra preferred rate". How would I know if i have it or what rate I am in??
Reply
Joined May 2010
L3: Novice
> bubble2 124 Posts
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kauffjd3
04-25-2014 at 04:54 AM.
04-25-2014 at 04:54 AM.
Picked up a share, and got 6% in MD.
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Joined Dec 2010
L1: Learner
> bubble2 22 Posts
20 Reputation
rkjag
04-25-2014 at 11:48 AM.
04-25-2014 at 11:48 AM.
Thanks.. got 10% in 2 mins over the phone
Reply
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