February 2007

ALUMNI NEWS

Car Insurance Discounts One of Many Benefits Available to Alumni

With its Metro rail and bus service, Washington, D.C., may not be a town you really need a car in, but the fact remains that thousands of residents cram the District’s roads each day, giving our fair city the distinction as one of the most congested to drive in nationally. Fortunately, one of the benefits of being an AU alum is car insurance discounts.

In fall 2003, AU’s Alumni Association partnered with GEICO to offer alumni discounted rates on auto insurance. Since that time, more than 2,000 alumni have signed up, saving up to 8 percent compared to other auto insurance companies.

AU’s partnership with GEICO means alumni can save significantly on auto insurance, over and above GEICO’s already competitive rates, and still receive the financial stability of a company rated “A++” by A.M. Best; the industry’s highest rating. The company has established itself as a leader in customer service, as well, providing service 24-hour a day, 7 days a week, 365 days a year.

Alumni interested in learning more or getting a free quote should call 800-368-2734 (be sure to mention you’re an American University alumnus/a).

Founded in Texas in 1932 as the Government Employees Insurance Company, GEICO moved to Washington, D.C. in 1936 to be closer to the federal workers who made up its largest client segment. Its current headquarters on Western Avenue in Chevy Chase, Md., just down the road from AU, was built in 1959. In 2006, GEICO reached 7 million policyholders.

Business and trivia buffs alike might be interested to know that Warren Buffet, CEO of Berkshire Hathaway investment firm and the second wealthiest person in the world, bought his first shares of GEICO stock in the 1950s. By 1996, he had bought so many remaining shares that GEICO became a subsidiary of Berkshire Hathaway. Some industry analysts credit GEICO’s recent success to the national advertising campaigns since Buffet and Berkshire Hathaway took over. The GEICO gecko made its first appearance during the 2000 television season.

For more information on benefits available exclusively to AU alumni, visit http://www.alumni.american.edu and click on "Benefits and Services."

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