GEICO Becomes A Competitor For Home Insurance


The Gecko Covers Your Home

With 11 million auto policy holders and insuring over 17 million vehicles, the Government Employees Insurance Company, otherwise known as GEICO, is a fast growing insurance company.  As the name implies, GEICO began as an insurance company directed towards government employees.  Since its beginnings with founder Leo Goodwin, GEICO has expanded to insure not only cars, but also businesses, ATVs, RVs, and even homes. Though still a relatively new competitor in the home insurance sector, GEICO is competing with some of the biggest home insurance companies in the nation in price and quality of service.

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Basic Coverage

Like most insurance providers, GEICO provides a basic coverage system for their members, which includes:
  • Coverage for damages to your house and property
  • Coverage for damages to your belongings
  • Limited coverage for valuables
  • The option to upgrade your policy to cover more valuable items in your home
Unlike many other insurance providers, however, GEICO also provides insurance for people renting out their home or property.  The policy available for these individuals is called the “dwelling fire” policy.  It covers damages inflicted on the property, but not the personal possessions of the tenants. Conversely, GEICO also has insurance for renters.  This insurance policy covers the personal property of a renter, including:
  • Furniture
  • Televisions
  • Jewelry
  • Clothing
  • Computers
Combined, these two policies can save policy holders a lot of money in the event of disaster.

SEE ALSO: Home Insurance Advice: Why You Need Umbrella Insurance


If your valuables or other possessions are not completely covered by your insurance policy, you can add on an endorsement to cover these valuables.  One of the most popular endorsements purchased is for expensive jewelry.  When you purchase an endorsement for jewelry from GEICO, you will receive:
  • Supplementary coverage for your jewelry beyond the amount covered by a normal policy.
  • An increase in the amount of perils it is insured against.  This includes, for example, a stone becoming dislodged from a pendant or general misplacement of jewelry.
  • No deductible for the loss of your jewelry
GEICO also endorses a variety of other valuables that might not be covered by a normal insurance plan. If you are looking for a variety options and services for your home insurance, GEICO home insurance might be right for you.For more information on GEICO home insurance, visit their website. To shop and compare home insurance pricing, click here.
Date of original publication:
Updated on: November 10, 2015

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