In 1936, in the midst of the Great Depression, husband and wife Leo and Lillian Goodwin founded Government Employees Insurance Company, known today as GEICO. Initially, all marketing was geared toward providing auto insurance to government employees and military officers. During their first year, GEICO had 12 associates and sold 3,700 policies. Today, they have more than 26,000 associates, more than 11 million policyholders, and offer a wide range of policies in addition to auto insurance, including homeowners, renters, boat, life, motorcycle, and even snowmobile insurance.

GEICO has become one of the largest insurance companies in the U.S. and a highly awarded and recognized organization. These awards, according to their website, include a No. 1 ranking for technical quality in 2011 by Keynote Competitive Research, a No. 1 ranking for most desired insurers among consumers by Kanbay Research Institute, and being recognized as a “Best Place to Launch a Career” company in 2008 by BusinessWeek. They have also received high financial ratings from a number of organizations, including an A++ rating from A.M. Best, an AA+ rating from Standard and Poor’s, and an Aa2 rating from Moody’s Investment Services. And, according to GEICO’s website, they have an average customer rating of 4.6 out of 5 for auto insurance.

Accident-Free Discount

GEICO rewards their customers for not crashing their vehicles by offering an accident-free discount. If a driver hasn’t had any accidents within the last five years, they can save up to 26% on most of their policies.

Defensive Driving Discount

Completing a defensive driving course can make customers eligible for discounts on their car insurance premiums. Each state has its own set of requirements regarding which defensive driving courses qualify and the amount of savings that can be offered for completing them. GEICO’s states page provides information on each state’s requirements and discounts.

Driver’s Education Discount

GEICO rewards customers who acquire proper training and education when it comes to driving. Drivers who complete a driver’s education course may be eligible to receive discounts on most coverages.

Emergency Deployment Discount

GEICO rewards military personnel who are deployed to danger zones by offering the emergency deployment discount. Military personnel who are deployed as part of Enduring Iraqi Freedom or Iraqi Freedom may be eligible for a discount of up to 25% on their car insurance premiums. Military personnel who are part of an emergency deployment to any other danger zone may also be eligible for a discount.

Federal Employee/Eagle Discount

GEICO has a long history of working with and insuring federal government employees — tracing all the way back to when the company was founded. The Eagle Discount offers an up to 8% discount — amount and eligibility varies by state — for current and retired federal government employees who are GS-7 or above.

Good Student Discount

GEICO wants to encourage students to do well in school by offering a good student discount based on the academic performance of the policyholder or other drivers on the policy. Drivers between the ages of 16 and 25 may be eligible for as much as 15% in savings on certain types of coverage for being a full-time student and maintaining at least a “B” average in school.

Mechanical Breakdown Coverage

GEICO offers mechanical breakdown coverage to protect customers once the warranty on their new car expires. This coverage can be purchased if the customer’s vehicle is less than 15 months old and has no more than 15,000 miles. This coverage can be extended for as long as seven years or up to 100,000 miles. If the policyholder’s vehicle has a mechanical breakdown, this coverage will cover the costs of all mechanical repairs once the $250 deductible has been paid.

Military Discount

GEICO rewards military personnel for their service by offering a military discount. Active duty military members, veterans, members of the National Guard, and members of the Reserves may be eligible for up to a 15% discount on their total car insurance premium.

Mobile Apps

The GEICO app lets individuals pay their auto insurance bill, view ID cards, and even watch the latest GEICO commercials. The app is available for iPhone, Android, iPod Touch, and iPad. GEICO also offers other apps purely for entertainment, such as the GEICO Gecko Ventriloquist app that lets users play pretend as ventriloquists.

Multi-Car Discounts

Policyholders who insure more than one vehicle through GEICO are considered by the company to be loyal customers. To reward customer loyalty, GEICO offers up to 25% in savings on premiums for most types of coverage for customers insuring two or more vehicles.

Multi-Policy/Multi-Line Discount

Also part of their customer loyalty rewards, GEICO offers discounts for purchasing more than one type of policy. Customers who add to their car insurance policies by also purchasing homeowners insurance, life insurance, renters insurance, or any other of the policies they provide may be eligible for their multi-policy/multi-line discount.

Named Non-Owner Policy

A named non-owner policy provides liability coverage for those who do not own a personal vehicle of their own. Non-owner liability coverage provides liability protection for individuals who rent or borrow a car. An umbrella policy is also an option for individuals in the market for a non-owner policy; it can limit liability across multiple situations, including car rentals. Interested individuals should contact a GEICO agent for further information.

Other Lines of Insurance

GEICO’s vehicle, property, and other insurance offerings include:

  • Auto insurance
  • Motorcycle insurance
  • ATV insurance
  • RV insurance
  • Boat/PWC insurance
  • Homeowners insurance
  • Renters insurance
  • Condo insurance
  • Mobile Home insurance
  • Flood insurance
  • Umbrella insurance
  • Life insurance
  • Overseas insurance

Partner Organization Discount

GEICO has more than 275 partner organizations across several industries. Policyholders who belong to any of these organizations may be eligible for a discount of up to 8% on their car insurance premium.

Rental Reimbursement

GEICO offers rental reimbursement coverage which helps customers pay for a rental car if their vehicle is being repaired. Depending on the amount of coverage purchased, the rental car may be covered for as long as it takes for the policyholder’s vehicle to be driveable again. Enterprise Rent-A-Car will bill GEICO directly, whereas other companies may require policyholders to pay the upfront costs out of their pockets, and then get reimbursed for their expenses based on the limits of their coverage.

Roadside Assistance

GEICO’s Emergency Road Service offers a number of services to keep customers from being stranded or paying costly expenses. This coverage can be added onto a policy for as little as $14 year. They have a 24-hour, toll-free number that customers can call if they need roadside repairs, such as fixing a flat tire or adding engine coolant, or if they need a tow. They also offer an emergency lockout service that will offer assistance if the diver locked their keys in the car, lost their keys, or broke their key off in the ignition or door. Also, if a customer had to pay out of their pocket for roadside service, they can be reimbursed based on the limits of their coverage.

Safe Driving Discount

GEICO wants to encourage safe driving habits by offering a discount for wearing a seatbelt. If the driver and passengers in the vehicle being covered regularly wear their seatbelts, the policyholder can receive up to 15% savings on their medical payments or personal injury protection coverage.

Vehicle Equipment Discounts

Drivers can save money on their GEICO premiums for having certain types of vehicle equipment. They offer up to 25% savings on medical payments or personal injury coverages if the vehicle being covered has driver-side airbags, and up to 40% if the vehicle has full-front seat airbags. Drivers can save up to 5% on their collision coverage for having anti-lock brakes. There is up to 25% in savings on comprehensive coverage for having an anti-theft system. They also offer a 3% discount on certain types of coverage for having daytime running lights.