Geico and Allstate Car Insurance
Geico and Allstate are two of the major auto insurance companies are competing for your business. These companies pour millions of dollars into advertising each year to try and gain & keep more customers. They are competing for your business because these companies know that with the strength of insurance success lies in numbers. The more people they insure, the higher potential their profit, but also greater the risk or liability.
Geico is now famous for their mascot, the gecko or lizard on all of the commercials. Their company was started in the mid 1930's by Leo and Lillian Goodwin. Geico took a different approach than the other insurance companies of this time as they decided to focus on certain targeted groups of people to such as federal employees and the top three grades of non-commissioned military officers. Even the famous investor Warren Buffet jumped on the Geico bandwagon in 1951 when he took notice to the years of constant and improved growth of the business.
Allstate was founded during the same decade as Geico, in 1931. They first started as part of Giant Sears, Roebuck & Co. Allstate says that in 1930 the president of Sears was riding a commuter train to Chicago when someone made the comment that they should get into the auto insurance business and start selling policies through the mail. Obviously he took the suggestion seriously and Allstate became what it is today. It finally became its' own company in 1995.
While Geico and Allstate are major companies who are well-known, they may not always be the best to get your auto or car insurance policy with. Although they are pretty good about settling and payouts, they are also good at getting around paying if there are any discrepancy's. There are a certain level of claims that they must deny in order to hold a profit. Big revenues and profits are needed to maintain the level of advertising that these companies do. Also, the salaries and profits of employees and shareholders are a must.
So, while these reputable companies are usually a safe choice, you may be able to save money by going with a smaller, less known auto insurance company. Just because a company is not nationally known, does not mean that they are too small to make a payout. You may benefit from lower premiums from a smaller company who does not have the expenses that Geico or Allstate has.
Scott
http://www.saveautoinsurance.net
Geico is now famous for their mascot, the gecko or lizard on all of the commercials. Their company was started in the mid 1930's by Leo and Lillian Goodwin. Geico took a different approach than the other insurance companies of this time as they decided to focus on certain targeted groups of people to such as federal employees and the top three grades of non-commissioned military officers. Even the famous investor Warren Buffet jumped on the Geico bandwagon in 1951 when he took notice to the years of constant and improved growth of the business.
Allstate was founded during the same decade as Geico, in 1931. They first started as part of Giant Sears, Roebuck & Co. Allstate says that in 1930 the president of Sears was riding a commuter train to Chicago when someone made the comment that they should get into the auto insurance business and start selling policies through the mail. Obviously he took the suggestion seriously and Allstate became what it is today. It finally became its' own company in 1995.
While Geico and Allstate are major companies who are well-known, they may not always be the best to get your auto or car insurance policy with. Although they are pretty good about settling and payouts, they are also good at getting around paying if there are any discrepancy's. There are a certain level of claims that they must deny in order to hold a profit. Big revenues and profits are needed to maintain the level of advertising that these companies do. Also, the salaries and profits of employees and shareholders are a must.
So, while these reputable companies are usually a safe choice, you may be able to save money by going with a smaller, less known auto insurance company. Just because a company is not nationally known, does not mean that they are too small to make a payout. You may benefit from lower premiums from a smaller company who does not have the expenses that Geico or Allstate has.
Scott
http://www.saveautoinsurance.net
posted by Infoking at
5:15 PM
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