General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAn important message from GEICO's CEO Todd Combs
COVID-19: Announcing The GEICO Giveback credit for our policyholders
'As part of GEICO's ongoing efforts to assist customers during this unprecedented time, we are announcing The GEICO Giveback which provides a 15 percent credit to all auto and motorcycle customers as policies come up for renewal, between April 8, 2020 and October 7, 2020. This credit will also apply to any new policies purchased during this period as part of our commitment to protecting the wellbeing of our customers.
Current customers can expect to see the credit when they renew. Customers do not need to take any action to receive this credit.
The credits are expected to average $150 per auto policy and $30 per motorcycle policy. With roughly 18 million auto policies and 1 million motorcycle policies in force, we are proudly providing a total benefit of approximately $2.5 billion to our customers.
Last month, we announced that we're pausing cancellations of coverage due to non-payment or policy expiration through April 30, 2020 or later as directed by your state. Beyond that, we are committed to offering maximum flexibility to policyholders who need special payment options. And to ensure you continue to receive the 24/7 service you've come to expect, we've also transitioned nearly all of our associates to work from home.'
Sincerely,
Todd Combs, President and CEO
rzemanfl
(29,554 posts)because I got the renewal a few days ago.
customerserviceguy
(25,183 posts)would cut it's ad budget by two-thirds, they could rebate twice that much every policy period, and it wouldn't be temporary.
Not meaning to pick on them particularly, all of the big auto insurance companies piss away fortunes on repetitive advertising.
DarthDem
(5,255 posts)I have nothing whatsoever against corporations when they treat their customers and employees humanely and kindly. Bravo to GEICO for taking these steps.
durablend
(7,455 posts)They'll rebate the 15% then when it's all over raise everyone's premiums by 30%