Geico spent $921 million on advertising in 2012.
“15 minutes could save you 15%.” Then again … they may not.
Recently our Massachusetts Insurance Agency has written clients away from Geico and saved them more than 15%.
As a case study, let’s take a look at one of them:
A 27 year old woman living in Charlestown, MA (perfect driving/ step 99) owns a 2011 Mazda 3 sedan and, with Geico, carried liability limits of: $100,000 per person/ $300,000 per accident (parts 3, 5 & 12); $50,000 Property Damage coverage (part 4); Collision and Comprehensive coverage with $1,000 deductibles and no waiver of deductible.
Her 6 month Geico premium: $1,611.80
Our annual premium, with $100,000 Property Damage coverage (part 4) including waiver of collision: $1,656.
Calculator aside, our 12 month policy, with better coverage, is about 50% less than Geico.
Maybe that’s why they spent $921 million dollars on advertising last year.