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For Berkshire Hathaway owned GEICO ( NYSE:BRKA ) and Allstate ( NYSE:ALL ), the first quarter of 2015 was a surprisingly poor quarter for their auto insurance businesses. Claims related losses reduced GEICO’s first quarter pre-tax operating income by more than half, falling from $353 million in first quarter 2014 to $160 million this year. Meanwhile Allstate’s underwriting income fell from $183...

For Berkshire Hathaway owned GEICO, the first quarter of 2015 was not pretty. In the company's latest 10-Q filed with the SEC, the insurer experienced a significant jump in its loss ratio (the percentage of premiums spent on loss expenses) for the quarter, going from 75.8% in 2014 to 80.1%. Despite overall growth in premiums written and earned, the spike in claims-related expenses significantly...

Latest Analysis

No reward for loyalty: w hy your auto insurer might charge you more for not shopping around due to price optimization Most consumers assume that auto insurers will treat you like royalty for your loyalty—stay with the same company and keep a claims-free record and your premiums will steadily go down is the prevailing theory. But data show and experts contend that the opposite can actually happen...Read more

We studied auto insurance quotes in cities across Ohio to determine which companies were the most affordable (and most expensive). Car insurance rates in Ohio can cost $417 or $35 per month for our sample drivers with a liability policy just above the state minimum. Our study also found that the most expensive insurers cost nearly 3.3x the cheapest auto insurance company in Ohio. This illustrates...Read more

Screeching tires. A jarring thud. The sudden pop of an airbag. You’ve just been involved in an auto accident. Fortunately, no one has been hurt. Your car, on the other hand, has seen better days. What happens now? Who’s going to pay for the damages? And how long before you have a reliable set of wheels again? Whether it’s a minor fender bender or your car gets totaled, it’s important to know what...Read more

Usage-based auto insurance can cost less, but at a price to your privacy Looking for a surefire way to save money on your auto insurance premiums? If you’re willing to have your driving habits monitored and evaluated, you can reap significant savings a la usage-based insurance (UBI) , also known as pay-as-you-drive and pay-as-you-go insurance. How Usage-Based Auto Insurance Works UBI usually...Read more