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Home > Car Insurance News > GEICO Announces Auto Insurance Rate Decreases for Colorado Policyholders
GEICO Announces Auto Insurance Rate Decreases for Colorado Policyholders
DENVER, January 3, 2006 — GEICO announced today that it has reduced auto insurance rates for its policyholders in Colorado. The statewide average rate decrease is 7.1 percent for GEICO and GEICO General policyholders. With this latest premium reduction, GEICO and GEICO General's average rates are now down by a total of 25.7 percent since the state's auto insurance reforms took effect. There are also rate decreases for GEICO Indemnity policyholders, -7.5 percent, and GEICO Casualty policyholders, -4.8 percent, bringing the total decreases to 31.3 percent and 29.2 percent, respectively since the change to a tort system. The changes will go into effect on Jan. 5 for new policyholders and on Feb. 20 for renewal policies.
"Improved driver experience, which has resulted in a decrease in accidents and fewer losses for our company, is the main reason for the rate decrease," said Gary Brown, GEICO's regional vice president. "We're glad we can provide our policyholders with more savings, and we hope to attract new customers with our lower rates."
Overall premium changes for individual motorists will vary based upon factors such as coverages purchased, geographic area, type of vehicle, risk characteristics, and discounts for which they qualify.
GEICO (Government Employees Insurance Company) is the fourth largest private passenger auto insurer in the United States. It provides auto insurance coverage for more than 6 million policyholders and insures more than 10 million vehicles. GEICO is a member of the Berkshire Hathaway group of companies. GEICO provides consumers with sales, service and claims capabilities on its geico.com Web site.
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