GEICO Marine Insurance Company was originally established in 1989 as Seaworthy Insurance Company and is domiciled in Nebraska.
If you are looking for a reliable and affordable marine insurance company in Nebraska, you might want to consider GEICO Marine Insurance Company. GEICO Marine Insurance is a subsidiary of GEICO, one of the largest and most trusted auto insurance companies in the US.
In this blog post, we will review GEICO Marine Insurance Company Nebraska and discuss its history, basic information, services and products, financial details, coverage details, claims, and customer experiences.
GEICO Marine Insurance Company Details
GEICO Marine Insurance Company was originally established in 1989 as Seaworthy Insurance Company and is domiciled in Nebraska.
The company was acquired by Berkshire Hathaway in 2007 providing capital strength and security for policyholders2. In 2015, it changed its name to GEICO Marine Insurance Company and became a part of GEICO2. The CEO of The company is Bill Roberts, who is also the president and chief operating officer of GEICO2.
The leadership team consists of experienced and qualified professionals who oversee the operations, underwriting, claims, marketing, and customer service of the company2. The Company has a market share of about 10% in the US marine insurance industry and is one of the leading providers of pleasure boat insurance2. The company has over 250,000 policyholders and insures boats of all sizes and types2.
GEICO Marine Insurance Company Basic Information
The following table summarizes some basic information about GEICO Marine Insurance Company Nebraska:
| Phone Number | Address | Customer Service Contact | Policy Details | Email Address | Fax Number | Operating Hours |
|---|---|---|---|---|---|---|
| 877-581-2628 | 5323 Port Royal Rd. Springfield, VA 22151 | Contact Us | Policy Options | customerservice@geicomarine.com | 703-321-8400 | Monday-Friday: 8:00 AM – 6:00 PM ET |
GEICO Marine Insurance Company Services and Products
The Company offers a variety of services and products for boat owners, such as:
Types of insurance offered: The Company provides comprehensive coverage for yachts and pleasure boats, including liability, medical payments, physical damage, uninsured boater, personal effects, towing and assistance, pollution liability, and more.
Special packages or bundled services: The Company offers special packages for different types of boats, such as fishing boats, sailboats, pontoons, jet skis, houseboats, etc. These packages include customized coverages and discounts to suit the specific needs of each boat owner.
International coverage: The Company provides international coverage for boaters who
continue to travel outside the US, such as Canada, Mexico, Bahamas, and the Caribbean. The international coverage includes liability, physical damage, and emergency assistance.
- Temporary or short-term policies: The Company also offers temporary or short-term policies for boaters who need coverage for a specific period of time, such as a weekend trip, a boat rental, or a boat show. The temporary policies are flexible and affordable and can be purchased online or over the phone.
GEICO Marine Insurance Company Financial Details
The Company strives to provide competitive and affordable rates for its policyholders. Some of the financial details of the company are:
Premium costs: The premium costs vary depending on the type, size, value, age, and location of the boat, as well as the boater’s experience, claims history, and credit score. The Company offers a free online quote tool that allows boaters to compare rates and coverages.
Payment options: The Company accepts various payment options, such as credit card, debit card, electronic funds transfer, check, money order, or PayPal. Policyholders can choose to pay monthly, quarterly, semi-annually, or annually.
Discounts and promotional offers: The Company offers several discounts and promotional offers to help boaters save money on their premiums. Some of the discounts include multi-policy discount, multi-boat discount, boater safety course discount, good driver discount, claim-free discount, and more.
Claim payout ratio: The Company has a high claim payout ratio of over 90%, which means that it pays out most of the claims it receives. The company also has an A+ rating from A.M. Best, which indicates its financial strength and stability.
GEICO Marine Insurance Company Coverage Details
The company provides comprehensive and customized coverage for its policyholders. Some of the coverage details are:
Policy exclusions: The Company does not cover losses caused by wear and tear, gradual deterioration, corrosion, mold, marine life, mechanical breakdown, intentional damage, or illegal activities. The company also does not cover losses that occur while the boat is used for racing, chartering, commercial purposes, or outside the agreed navigation area.
Coverage limits: The Company offers different coverage limits depending on the type and value of the boat. The minimum liability limit is $100,000 per occurrence and the maximum liability limit is $2 million per occurrence. The physical damage limit is based on the agreed value or actual cash value of the boat.
Add-ons or riders: The Company also offers optional add-ons or riders that can enhance the coverage and protection of the policy.
Some of the add-ons include mechanical breakdown coverage, consequential damage coverage, replacement cost coverage, fishing equipment coverage, personal effects coverage, and more.
GEICO Marine Insurance Company Claims
The Company has a fast and easy claim process for its policyholders. Some of the details of the claim process are:
Claim process: Policyholders can file a claim online, over the phone, or through the GEICO mobile app. They need to provide their policy number, contact information, boat information, and details of the incident. They can also upload photos and documents to support their claim.
Required documents for claims: Policyholders may need to provide some documents for their claims, such as a police report, a repair estimate, a proof of ownership, a proof of loss, and a witness statement.
Average claim approval time: The Company aims to approve claims within 24 hours of receiving them. However, some claims may take longer depending on the complexity and severity of the loss.
GEICO Marine Insurance Company Customer Experiences
The Company has a high customer satisfaction rating and a low complaint ratio.
FAQs
Q: How do I get a quote from GEICO Marine Insurance Company?
A: You can get a quote online by calling 877-581-2628.
Q: How do I cancel my policy with GEICO Marine Insurance Company?
A: You can cancel your policy online by logging into your account or by calling 877-581-2628. You may need to pay a cancellation fee depending on your policy terms.
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I’m Jose, a business enthusiast and an expert in the insurance field. As a graduate of Eastern University in Business Administration, I have gained significant knowledge insurance. Join me as we delve into everything you need to know about insurance.