Author Topic: Call Geico for your discount! (Read 7664 times)

DeniseNJ · « **on:** August 27, 2019, 02:25:39 PM »

Brennan posted in the comments of the most recent MMM post that if you call Geico and say, "Hi. I own Berkshire Hathaway stock in an index fund. Can I have a discount?" they totally give you a discount. Mine was over $160 for my 6 month policy. A friend scored $170 off of her policy. Five minutes on the phone will save hundreds a year! Don't all call at once. :)

ETA: I just noticed that if you have automatic payments through your debit or credit card Geico charges 5 bucks but if it's through your checking acct it's only one dollar. (Having some cash flow issues due to medical bills.)

terran · « **Reply #1 on:** August 27, 2019, 04:06:22 PM »

They'll also offer discounts if you work for government, went to certain colleges, maybe other things. When I first signed up I was told I'd maxed out such discounts so owning BRK wouldn't make a difference.

DeniseNJ · « **Reply #2 on:** August 28, 2019, 08:34:07 AM »

Some discounts will overlap and some you can have together. Worth a call. I'm a fed but I wasn't getting the fed discount bc of a couple accidents--I didn't even realize it--but I got this one. Worth five min on the phone.

FireAnt · « **Reply #3 on:** August 28, 2019, 11:53:32 AM »

Got excited about this, but no luck. The discount is not offered for Michigan residents. The agent did record our affiliation in case it ever changes.

bray144k · « **Reply #4 on:** August 28, 2019, 12:46:26 PM »

I'm the one who originally posted the comment in the article. This discount was pretty big for me about 7.5% off the premium. I hope that it helps a lot of the people here as well!

cassafrass · « **Reply #5 on:** August 28, 2019, 12:59:48 PM »

I did this after seeing it mentioned in the comments and it does work! I only got a $5 reduction in my bill because I apparently already have other discounts applied. But, hey, it's something!

DeniseNJ · « **Reply #6 on:** August 29, 2019, 08:34:25 AM »

Quote from: bray144k on August 28, 2019, 12:46:26 PM

I'm the one who originally posted the comment in the article. This discount was pretty big for me about 7.5% off the premium. I hope that it helps a lot of the people here as well!

Thanks so much! I've been telling everyone I know and several ppl at work have gotten their discounts.

bray144k · « **Reply #7 on:** August 29, 2019, 09:43:14 AM »

No problem at all! I didn't think anybody would see the comment TBH. I'm really glad that it's saving a lot of people money!

kpd905 · « **Reply #8 on:** August 29, 2019, 07:28:49 PM »

If you join the Freelancer's Union online (free, takes about 3 minutes), you also get this discount.

JSMustachian · « **Reply #9 on:** September 04, 2019, 10:20:45 AM »

I was able to do it online and it saved $36 off my auto policy. Almost a 9% reduction.

MasterStache · « **Reply #10 on:** September 05, 2019, 10:40:05 AM »

Quote from: kpd905 on August 29, 2019, 07:28:49 PM

If you join the Freelancer's Union online (free, takes about 3 minutes), you also get this discount.

I signed up with Freelancer's Union as well. Took literally 30 seconds.

steevven1 · « **Reply #11 on:** September 05, 2019, 10:55:52 AM »

Gave it a try. Only took 3 minutes, so definitely worth it. They told me the discount is valid, but my account is already maxed out on discounts, so they can't save me any more. Thanks for the info anyway!

M5 · « **Reply #12 on:** September 05, 2019, 03:06:43 PM »

Just switched from State Farm to Geico using this discount. Took our monthly premium for 2 cars (1 w/full coverage) and renters insurance from $182 to $129!!

ctuser1 · « **Reply #13 on:** September 05, 2019, 05:43:28 PM »

Thanks for sharing.

It did not quite help me. The geico rep I spoke with called it something like "associate discount" (may have mis-heard on cell with a noisy background). One way to get this "associate discount" is via share ownership. I already have it via PenFed membership.

Apparently there are many ways to have this discount, at least in CT.

FamilyGuy · « **Reply #14 on:** September 07, 2019, 03:35:47 PM »

I got a tiny discount as well. Thank you for sharing.

Monkey6268 · « **Reply #15 on:** September 17, 2019, 09:44:14 PM »

Worked great for me - saved $118 on 6 month premium (8%) and just took a couple of minutes.

Thanks for sharing

DeniseNJ · « **Reply #16 on:** September 24, 2019, 09:45:39 AM »

Hey, I just noticed that if you have automatic payments through your debit or credit card Geico charges 5 bucks but if it's through your checking acct it's only one dollar. I just put my debit card info origianlly but just switched to the checking acct info even though it's the exact same account. Just saved 4 bucks per month or $24 on my 6 month policy. Never noticed it. Read the fine print!

Yes, I should just pay the whole thing but I have some medical bills causing some cash flow issues.

jiimmy · « **Reply #17 on:** October 19, 2019, 02:25:39 PM »

It worked for me! Sent a note through the website and five minutes later they applied a discount of ~8%.

bdubs · « **Reply #18 on:** November 03, 2019, 05:55:27 PM »

Worked for me! Thanks for the tip saved me 40 bucks a year.

jinga nation · « **Reply #19 on:** December 23, 2019, 12:36:12 PM »

Sent a message thru their portal. Got this:

Quote

Case: 98765432

jinganation@hotfemail.com

We have reviewed your policy and will be happy to assist you. Please note that we have listed your membership with Berkshire Hathaway on your policy. However, there is not an additional Membership discount at this time because your policy is already receiving our Ultra-Preferred rates.

Our Ultra-Preferred rates are the lowest rates we are able to offer to our customers. We are only able to offer a certain number of discounts per policy, which is determined by the way we are filed with each state and each state's guidelines for insurance. Since you have an Ultra-Preferred policy, you are already receiving the maximum number of additional discounts, which are built into the base price of your insurance premium. This amount adds to a larger decrease than if you had a higher rated policy which qualified for the discount.

We will keep this information on file, so if anything changes in the future, we will have it available.

Sincerely,

V
GEICO Internet Team

Oh well.

Moussetache · « **Reply #20 on:** April 25, 2020, 10:44:45 AM »

Some restrictions apply... I asked for the discount because I hold VTSAX but got this:

Quote

If you are a Berkshire Hathaway shareholder and have a proxy vote as a shareholder, you would be eligible to have this information listed on your policy. If not, your policy would not qualify to list you as a Berkshire Hathaway shareholder. We apologize for any inconvenience this may cause.

Dee_the_third · « **Reply #21 on:** April 29, 2020, 05:13:41 PM »

Wait, can somebody elaborate on this $5 for automatic payments thing? I've had Geico for years on autopay, but I don't think they charge me. Am I missing something?

DeniseNJ · « **Reply #22 on:** April 30, 2020, 06:14:17 AM »

Quote from: Dee_ on April 29, 2020, 05:13:41 PM

Wait, can somebody elaborate on this $5 for automatic payments thing? I've had Geico for years on autopay, but I don't think they charge me. Am I missing something?

Apparently charging the monthly payment to a credit card or a debit card incurs a $5 fee every month, whereas charging your payment to a checking or savings account is free. So your debit card and checking acct might be the exact same acct but entering your debit card info will cost you 60 bucks per year whereas entering your checking acct info will be free.

You might not have your checking acct info or check book handy but your debit card is in your wallet so you might use that. But it will cost you 60 beans per year.

News:

Author Topic: Call Geico for your discount! (Read 7664 times)