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Geico insurance general question

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Old 06-26-2009, 02:29 PM
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What is interesting here, from a sports marketing perspective, is that if Geico was smart, they would realize that racing in general, but especially boat racing, as closely knit as the guys are, would probably have EXTREMELY high brand loyalty...

I'd be willing to be that if the prices were competitive, and they offered a 5%-10% discount to the racers, and a nice promotion for the fans of the sport, that the investment that they make to Haggins team (I have heard anywhere from very, very high six to low seven figures) would come back to them dressed up like a nickel...

They'd pick-up almost ALL the race boats, almost ALL the poker run boats, and a gazillion pleasure boats...(as long as the rate was at least competitive...)

It makes no sense to me why they wouldn't capitalize in this. In fact, it's SO strange because this is one of the biggest activations a sponsor evaluates when deciding to sponsor any sort of motorsports team and/or series.

I don't get it...
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Old 06-26-2009, 02:38 PM
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re-insurance
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Old 06-26-2009, 02:47 PM
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do they send the ARMY dragster into combat? Seems to me like the vast majority of people get it, and a few either are just trolling for the sake of being trolls or need to find a 3rd grader to explain it to them..
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Old 06-26-2009, 02:58 PM
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Originally Posted by Moving2Miami View Post
What is interesting here, from a sports marketing perspective, is that if Geico was smart, they would realize that racing in general, but especially boat racing, as closely knit as the guys are, would probably have EXTREMELY high brand loyalty...

I'd be willing to be that if the prices were competitive, and they offered a 5%-10% discount to the racers, and a nice promotion for the fans of the sport, that the investment that they make to Haggins team (I have heard anywhere from very, very high six to low seven figures) would come back to them dressed up like a nickel...

They'd pick-up almost ALL the race boats, almost ALL the poker run boats, and a gazillion pleasure boats...(as long as the rate was at least competitive...)

It makes no sense to me why they wouldn't capitalize in this. In fact, it's SO strange because this is one of the biggest activations a sponsor evaluates when deciding to sponsor any sort of motorsports team and/or series.

I don't get it...
to be honest the ratio of performance to just plain pleasure boats is probably pretty low. I would guess one in several hundred at best. why would they want to shoulder the very much higher risk for such a low return when compared to the every day boater? I personally insure my cars through Geico and did so right right after they started racing. Just for the heck of it I called and got a better rate then what i was getting before so yea their presence at the races worked on me anyway lol . I dont feel slighted they wont insure my boats though, its not their market.
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Old 06-26-2009, 05:03 PM
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Omg what does the US Army dragster have to do with this conversation? That's the most abstract thing I have ever heard like my next door neighbors dog is laying in my lawn and they are filling a pothole on I95 in south carolina tonight at 645 PM at mile marker 231 ? That makes no sense and I am NOT prying into John Hagins financial affairs with the AMF team and their sponsorships so I would feel more comfortable not talking about his finances cause that's none of our buisness at all so delete that if you please. All I am trying to convey is that as a person that has a pleasure boat that happens to be 41 feet with twin V8's Geico refuses to touch on anything in that market but they sponsor some of the fastest biggest HP ever built is sort of an oxymoron or the definition of irony. They have their name down 2 turbine cats that can probably exceed 200 mph in the right conditions and try to stand out with neon green paint with 3 foot tall letters on the sides and deck of all the boats GEICO but they don't insure really any pleasure boat that has a halfway healthy V8 in it for personal use pleasure boating. I remember talking with RChevelle71 and Hagin was having a real rough time getting life insurance for ScottyB and some other guys because of what they were doing - racing boats
I'm sure that got resolved a long time ago but its very misleading to have geico on 10+ boats that if you have a pleasure version of these race boats they won't even talk to you about insuring them just makes no sense why they would agree to sponsor the AMF team at all because you can't get boat insurance from them unless you have a tiny little fishing boat with a 25 HP outboard on it that tops out around 22 mph big whoopteedo with that. I think if you are going to offer boat insurance then offer it to anyone that has a boat (pleasure boats not race boats) don't pick and choose what types and models and HP cause then you eliminate a lot of people that would pay you a monthly premium but they are limiting themselves drastically with their current specs
As it is now I can't get any insurance on the apache in FL because I'm in FL-hurricane alley. Lloyds of london was the only one that would insure me and with the premium being 14K per year and that in itself was total BS, the hurricane situation killed it so there was no reason to even consider buying the policy because if a named tropical storm or depression came off the coast of africa and it had to have a name then my insurance stopped immediately. So I asked okay if a named storm formed 9000 miles away in south africa and I hitched up my boat to tow it to PA to my other house and someone rearended me in washington DC for example then I have no coverage because there was a named storm in the atlantic basin so the policy was way too much and rather pointless in my opinion so she sits waiting to come to PA to run in inland waters 6 months a year I'm sure I can get insurance but not through Geicocause I have one of them there cigarette type boats
Ohhh nooo god in heaven forbid I am so evil for having an apache
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Old 06-26-2009, 05:29 PM
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Let me add this
Sponsorships is all about advertising and brand recognition. So you see budweiser plastered on a car or boat you think beer while you are watching a car race. You see DuPont on a race car and you think auto paints to paint your car with and probably the race car with DuPont written on it was probably painted with DuPont paints that you can get as a consumer and paint your car with. You see Hendrick motorsports on a NASCAR and you think oh I can get a hendrick race crate engine for my car, you see Mercury Racing on a P2 boat with twin 525's and think oh I can go get a new single or pair of 525's for my boat too!! You see Geico on a performance boat and think huh wonder what Geico would charge me to insure my boat. Survey says XXX nope sorry fella we don't insure performance boats only small run abouts. Performance boating is dangerous and we don't service anything in that market cause we don't want to carry any liability on performance boats heaven forbid that would be stupid on our part but you got the idea to call a Geigo rep for a quote on boat insurance cause you saw Scott and Mark the weekend before haulin a-s-s in the atlantic ocean breaking the freakin sound barrier and thought huh ill see if I can get a good policy and good rate.
Nope sorry only fishing boats
It is just not right on their (Geigo) part
Or they should put on the platinum princess "Ms Geico insurance" (even though this boat is insured through state farm just so you know!!!)
I think if Geico is not going to insure performance boats they should not sponsor performance boats

Last edited by Jayl13; 06-26-2009 at 05:38 PM. Reason: misspelling
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Old 06-26-2009, 05:38 PM
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oh yea . . . i see now . . . . when i first saw Traffic Light on a boat i thought . . . . hey i gotta go to the strip club


dude . . . .some decaffeinated brands are just as tasty as the real thing
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Old 06-26-2009, 05:45 PM
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oh yea . . . i see now . . . . when i first saw Traffic Light on a boat i thought . . . . hey i gotta go to the strip club


dude . . . .some decaffeinated brands are just as tasty as the real thing
Dave are you first in line for the 5 O'Clock free crack giveaway??? What are you smokin cause I understood nothing of what you just wrote. What does traffic lights have to do with boobie bars?? We are talking insurance sponsorships here
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Old 06-26-2009, 06:03 PM
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Traffic Light is one of our sponsors on the race boat and is . . . confidentially . . . . a strip club. At any rate . . . now you know how we feel . . . . really . . . relax Jay. . . . deep breaths . . . . maintain your current insurance and know that both Jon and Warren know what they are doing.



just have'in some fun with ya (note appropriate smileys in posts) . . . no need to be call'in people crack heads . . . i gave it up days ago
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Old 06-26-2009, 06:05 PM
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Geico can sponsor whoever & whatever they want. And if they don't want to insure your boat, they can not do that too. It doesn't say Geico high performance & race boat insurance on it , does it? I insure my 3 trucks with Geico and am glad to see them sponsor that awesome Miss Geico race team. GO GEICO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Last edited by Comanche3Six; 06-26-2009 at 06:26 PM.
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