The Geico Insurance Company, founded in 1936, is an auto insurance company that provides coverage for more than 11 million drivers and 13 million vehicles in the United States. Geico provides insurance services in all 50 states without the use of local agents to sell policies. The company sells policies to customers using a direct-to-consumer sales method. The money they save not having to fund local offices and agents is mostly reinvested or applied to commercials and other nationwide marketing tactics.
Geico is mainly an auto insurance company. They also offer homeowners insurance, umbrella insurance, renters insurance, life insurance and many other insurance services. They are currently the nation’s third largest insurer, and wrote $16.75 billion in auto premiums last year.
Issues with GEICO Insurance Company
In 1996, Warren Buffett purchased a majority of Geico stock, making the company a subsidiary of Berkshire Hathaway Inc. holding company. Last year Geico and other insurance operations generated $73 billion in income for Berkshire Hathaway Inc. The money generated by Geico was used in insurance endeavors by the investment company, but also invested in other ventures to generate revenue. When an insurance company is fully-owned by an investment company, chances are their priorities many not always reflect the best interests of their insured. Geico has been praised for their appealing nationwide advertising campaigns. And while these have been successful in attracting business for the company, a successful marketing campaign does not have anything to do with the quality of service they offer.
Choose the Chicago Auto Insurance Lawyer that is Right for You
If you are insured by Geico or a third party injured in an accident, you expect prompt financial compensation for your medical bills and property damage. Your financial stability and security depend on the full payment you are entitled to by law. If you are experiencing a delay in payment or are having difficulty receiving your settlement, you are obligated to take legal action and hold the insurer responsible for the claim.
At The Horwitz Law Group our Chicago insurance litigation lawyers are not intimidated by large insurance companies or big businesses, in the eyes of the law everyone deserves to be treated justly regardless of the scenario. If you are not receiving the treatment you deserve from Geico Insurance you are entitled to fight for your settlement. Our attorneys will work with you to review you case, discover your options, and be sure you are given the fair and quick settlement you deserve.
We understand your case is unique, call the insurance lawyers at The Horwitz Law Group today at (312) 641-9200 for your free consultation.