This has probably been covered, but I can't remember seeing the details.
So, does Geico insure powerboats now? With having their name all over one of the most radical supercats ever, it obviously implys they do. I know they probably don't do cats..... damnit.... but are they just testing the possibility of one day offering higher performance plans?
Also, why don't these companies use the boats the sponsor in their commercials or magazine ad's??? Other than one Bud Select commercial I can remember, the Dave Scott Budweiser team boats weren't used for ad's either.
I would think Budweiser, Geico, etc would want to include them with their hot rods, motorcycles, etc, on TV with the money they spend?
They appear to be spending a ton of money as a sponsor of a sport with a very limited audience. Bang for buck seems minimal. Of course, I don't really know how much is Geico money and how much is Haggin's money, so maybe they aren't spending that much?
Either way, the limited audience consists of people who are likely being screwed by insurance companies that won't insure (like GEICO), or overcharge to insure the very type of boat they have their name plastered all over??? So basically they are selling "low-end" car insurance to a small group of people, who frankly probably aren't anywhere near Geico's target demographic for auto?
It makes no business sense to me, but as an enthusiast I get it if someone at Geico is just a boat guy?
I'm just glad they're doing it, as I think Miss Geico is awesome, and great for the sport.
Augie Busch IV is a boat guy
Thanks for your interest. GEICO does insure boats. We are working with our sponsor to evaluate insuring High Performance boats at a reasonable price. If you think about it most the spectator boats watching a race are regular pleasure boats.
As for what our sponsor receives in return? Limited Audience. Don't underestimate how many boaters there are out there and how many people are captivated by High Performance boating. One look at the Fan Base in Sarasota will tell you that the interest is there. Detroit Gold Cup last weekend and St Clair this Weekend will boast ten's of thousands of spectators. We have hard statistics showing the ROI to GEICO exceeding their sponsorship of our team. The GEICO team works very hard and uses many outlets to get the "message " out there. We must be doing something right as I can't walk through an airport with Scotty B without someone chasing him (Scotty B not me) for an autograph.
Last years Discovery episode reached over 50 million viewers and continues to run. We are filming another episode this year and will begin work on an "extreme sports " show in Patchogue. Countless News stories and spots give us great real world coverage. Make no mistake...we work for it.
Starting in Ocean City GEICO has been running regional 20 second TV commercials and Radio advertising prior to our races. We spend a considerable amount of time with print media on "soft" stories and support the communities we visit by attending schools, hospitals and Veteran centers. The GEICO team is a headliner at most every BOAT show reaching MILLIONS of attendees and leaving them with a mental imprint they will never forget. If all goes well plan on seeing more of the Chartreuse boat as she debuts on the National TV circuit for GEICO.
Much of the work we do you will never see but the foundation is being laid to create Americas next ICON boat. the Miss GEICO
The best part is Scotty Haggin and myself are the same boat guys as we always have been and know where we came from. This is why we continue to update everyone on OSO of our plans and new projects.
All OSO'rs are always welcome to stop by our Pits say hello, relax and watch the circus go by.
Last edited by Maximus; 07-23-2008 at 11:44 AM.
That is great to hear that it is returning rewards for GEICO, to encourage them to grow what they're doing.
I forgot about the "Build it Bigger" episode, which was very cool and great exposure.
If GEICO could start to write cats at somewhat reasonable rates, I think the boating community would be incredibly grateful.
I was at the Gold Cup 2 weeks ago, and you are right about the fans loving Miss GEICO. People that had no idea about the sport were cheering her on like it was their home team.
Can't wait to see you guys again this weekend in St Claire.
This thread poses a good question. Considering the number of insurance companies that have discontinued Cat coverage, it's nice to see Geico committing to our sport. It is inevitable they will find a way to spread their coverage. I, for one, am grateful for the exposure offshore powerboat racing has received lately due to Geico's sponsorship and television programs.
Just because Geico sponsors an extreme type of boat doesn't make it incumbent that they insure them. However, the amount of money Geico is spending to sponsor the AMF team is huge. They would not gamble money on hypocrisy.
There is a bigger picture. And the Geico strategy will continue to pay huge dividends, not only for the company, but for shareholders and policy holders alike.
Spool 'em up Maximus
"I'm just looking for clues at the scene of the crime."
I don't really know much of anything, but I do know that if Warren Buffet did not see a good return on investment, Gieco would not be sponsoring a boat. In fact, I will bet that Warren sees a great ROI, and that is why he really embraces it.
Having been to the Shootout and last years OSS races at LOTO, I will say that the entire AMF Team is as proffessional as it gets. There may be some in the same class, but I have not seen any to exceed it.
Keep up the great work and we will see you at LOTO later in the summer!
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