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...
Few things in life are as fun as high-wheeling it across the country in a rented, financed or fully owned recreational vehicle (RV). But before you make those plans to motor over to the Grand Canyon, California coast, Florida hotspot or other desirable destination, you should make sure that your home on wheels, and everything in it, is properly insured. Just as you shouldn’t assume that a...Read more
We compared auto insurance quotes in the four major islands across 25 companies to find the cheapest car insurance companies and rates in Hawaii. Our analysis found that where drivers live and the company they choose can greatly affect their rates. The range started from just under $200 to the mid $700s for minimum coverage , to give you a sense of how different companies' rates were. That's why...Read more
We studied auto insurance quotes in the Last Frontier for four driver scenarios to find the cheapest car insurance companies in Alaska. Where a driver lives and which insurer they purchase a policy from greatly impacts their auto insurance rates, we found. Our four drivers' rates averaged to $1,551 a year, but rates varied from $914 from the cheapest insurer to $2,366 on the high end. This wide...Read more
When you buy or lease a new or used vehicle, it makes sense to protect your investment by purchasing adequate automobile insurance coverage that safeguards you in the event of an accident, theft, fire, or other car catastrophe. But traditional auto insurance coverage, even with comprehensive and collision in place, may not be enough. Consider the following nightmare scenario: you purchase a brand...Read more