GEICO car insurance discount for shareholders

[downtownshuter]

Another way to save on car insurance... GEICO offers discounts to about a hundred groups (alumni associations and such), but if you don't belong to any of the discount groups, you can buy a share of Berkshire Hathaway, B shares are about $127, and you can get the shareholders discount. Plus it's not a bad investment either.

I don't know what the savings are exactly since this I've always had the discount, but my friend told me yesterday he lowered his annual premium on two cars from $3,200 (not GEICO) to $1,800 (GEICO w/ shareholder discount).

[senecando]

I just looked around a bit and it looks like it's 8 percent. This is pretty rare for companies to do, right?

Thanks, though! I was planning on switching anyways and will plan to pick up a share between now and then.

[downtownshuter]

I just looked around a bit and it looks like it's 8 percent. This is pretty rare for companies to do, right?

Thanks, though! I was planning on switching anyways and will plan to pick up a share between now and then.

Thanks for checking the amount! Discounts for specific safety features or for certain behaviors are common, but I believe this type of on-top-of-everything-else discount on insurance is uncommon.

[HAULIN3]

Hey thanks!!! I just logged into my geico and saved $2.83/month using a membership discount! It's not a lot, but it's something!!

[Nothlit]

I switched to GEICO last year and read about the shareholder discount, but when I called to inquire about it, they told me that I had already reached the maximum discount limit (good driver, alarm system, multi-line, etc.) and that attempting to apply the shareholder discount would not result in any additional decrease in my premium. Oh well.