GEICO: Personal Auto Overview

Who is GEICO?

GEICO (Government Employees Insurance Company) was founded in 1936 by Leo and Lillian Goodwin to insure federal employees and certain military personnel. It is now a national personal auto insurer headquartered in Bethesda, Maryland, and a wholly owned subsidiary of Berkshire Hathaway since 1996. GEICO markets auto insurance plus motorcycle, RV, boat, home, renters, umbrella, and other personal and commercial lines.

GEICO is best known for personal auto insurance sold under a direct, national brand. The name is an acronym for Government Employees Insurance Company, from the customer group the founders targeted in 1936.

The GEICO group includes Government Employees Insurance Company and affiliated companies that insure private passenger and commercial automobiles and arrange homeowners and other coverage for qualified applicants. The companies market together under the GEICO trademark.

Key facts

• Founded in 1936 by Leo and Lillian Goodwin as Government Employees Insurance Company
• Originally marketed to federal employees and certain military officers
• Opened a Chevy Chase, Maryland headquarters in 1959
• Corporate headquarters: 7272 Wisconsin Avenue, Bethesda, Maryland
• Wholly owned by Berkshire Hathaway Inc. since 1996
• Core business is personal auto, with motorcycle, property, umbrella, and other lines marketed under the GEICO name

History

In 1936, during the Great Depression, Leo and Lillian Goodwin started Government Employees Insurance Company. Lillian Goodwin marketed the company, kept the books, and helped set rates. The first audience was federal employees and certain enlisted military officers.

Lorimer Davidson joined in 1948 and later succeeded Leo Goodwin when Goodwin retired in 1958. GEICO opened a new headquarters in Chevy Chase, Maryland, in 1959. Warren Buffett first bought GEICO stock in 1951, while he was a student at Columbia.

In 1996 Berkshire Hathaway acquired the remaining shares and GEICO became a wholly owned subsidiary. National advertising expanded from there, including the GEICO Gecko, which first appeared in 2000. GEICO’s current at-a-glance page lists corporate headquarters in Bethesda, Maryland.

Products GEICO offers

GEICO’s public product list goes well beyond commuter auto. Availability depends on the line, the state, and whether GEICO or a partner issues the policy:

• Personal auto insurance
• Motorcycle, ATV, RV, and boat insurance
• Homeowners, renters, condo, co-op, and mobile home insurance
• Personal umbrella insurance
• Life, flood, and jewelry insurance offerings
• Commercial auto, business owners, and related business coverage
• Collector car insurance

Who GEICO serves

GEICO began with government employees and military members and now insures a broad national customer base. Military discounts and service options remain part of the brand story.

Drivers, homeowners, and small businesses still have to qualify. A GEICO product page is not a promise that every Virginia household or vehicle class is eligible.

Coverage focus with Epic and Easy

We look at GEICO when clients need:

• A national personal auto quote beside regional and specialty markets
• Motorcycle or other recreational vehicle coverage GEICO markets
• Home, renters, or umbrella options packaged with an auto conversation
• A clear comparison of price, limits, and deductibles before anyone switches

Who it’s for in Virginia

GEICO can fit Virginia drivers who want a national auto brand in the mix with Erie, Progressive, Mercury, and the other auto markets we represent.

Classic cars, mobile homes, and harder property risks may fit a specialty carrier better. We say so when the GEICO form is the wrong tool.

How Epic and Easy helps

We take the drivers, vehicles, garaging address, and current limits, then compare GEICO with the other personal auto options we can access.

If a quote is available, we walk through liability limits, deductibles, and what happens to the rest of the household — home, umbrella, or recreational vehicles — before you move a policy.