More Auto Insurance Being Added

With all the talk lately of people not willing to either get auto insurance, or are dropping their auto insurance policies, there is a wonder who out there is still getting insured. Well, GEICO knows who is getting auto insurance, because many of them are getting it from them.

Berkshire Hathaway Inc.’s GEICO auto insurance says that they are bringing in more car insurance policies than many of their contemporaries. Their larger rivals are complaining that no one is getting car insurance, but the fact of the matter is that they are getting auto insurance; they just aren’t getting it from them.

GEICO announced last week that they are up 7.6% in auto insurance policies over first quarter last year, with Progressive stayed the same and Allstate saw a drop in theirs. The auto insurance company was pleased to announce that they earned $3.261 billion, with Progressive and Allstate earning $3.41 billion and $4.43 billion respectively.

Allstate is still earning more in auto insurance premiums than GEICO, but with their premiums dropping 2.4% and continuing to drop, it is only a matter of time before GEICO surpasses them. The auto insurance company thinks it is because people want to keep their auto insurance but they want to pay less – so they are switching to GEICO to save money on their premiums. The auto insurance company says that their customers are increasing their deductibles to save money and working their policies in a way to be most financially beneficial for them.





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