GEICO was founded in 1936 by Leo and Lillian Goodwin who initially geared the company’s services to U.S. government employees, which is why GEICO stands for Government Employees Insurance Company. Today, the insurance business has a diverse customer base and offers a wide-variety of policies including auto, homeowners, rental, boat, life, business, travel and umbrella. GEICO is a wholly-owned subsidiary of Berkshire Hathaway, Inc. and has over $32 billion in assets.
GEICO is highly regarded by financial institutions. The insurance company has been awarded an A++ from A.M. Best, an Aa3 from Moody’s, an AA from Standard & Poor’s and an A from the BBB.
Renters insurance policies can vary, but GEICO plans can include the following types of coverage:
- Personal liability that protects you from claims made against you by others.
- Medical payments for those injured on your property.
- Living expenses if your home is destroyed.
- Personal property that’s good for basic belongings up to a certain amount.
- Additional coverage for high-value items, which can raise your rates.
- Identity protection, which is an optional product.
GEICO is a widely-recognized insurance company that offers quick quotes and affordable plans. The business has agents located around the country and maintains an online and mobile platform so you can conveniently create and manage an account. GEICO offers flexibility with its insurance policies and has a reputation for satisfying customers.