As boating sales surge, GEICO offers key advice in Hurricane Sandy’s aftermath

  As boating sales surge, GEICO offers key advice in Hurricane Sandy’s
  aftermath

Business Wire

WASHINGTON -- January 29, 2013

It is estimated that Hurricane Sandy destroyed more than 65,000 boats and
caused $650 million dollars in losses in New York, New Jersey and Connecticut
alone according to BoatUS. In the storm’s aftermath, boat owners without
insurance now face the financial burden of having to repair or replace their
boats on their own.

“Hurricane Sandy taught us how critically important it is to protect your
investment, especially during a natural disaster,” said John Zinno, president
of the GEICO Insurance Agency. “With every boater that received a check for
their loss, there are those who did not have insurance coverage. From a
financial perspective, it’s a tough pill to swallow.”

Boaters in the Northeast are expected to spend more than $700 million dollars
in the coming months to replace their losses. In addition, the National Marine
Manufacturers Association says, industry sales are expected to increase by 10
percent in 2013. The unprecedented amount of insurance payouts stemming from
the destruction of Hurricane Sandy will allow boaters to replace their
destroyed vessels.

“The surge in boat sales on the heels of Hurricane Sandy could be attributed
to boaters being able to recoup their losses through insurance,” said Zinno.
“As more and more consumers look to make purchases before the start of boating
season, GEICO wants to make them aware of the potential rewards of having
appropriate boat coverage.”

GEICO (Government Employees Insurance Company) is a member of the Berkshire
Hathaway family of companies and is the third-largest private passenger auto
insurance company in the United States. GEICO provides millions of auto
insurance quotes to U.S. drivers annually. The company is pleased to serve
more than 11 million private passenger customers and insures more than 18
million vehicles (auto & cycle).

GEICO’s online service center helps policyholders take care of policy sales,
policy changes, claims reporting and to print insurance ID cards. GEICO also
provides  insurance quotes  on motorcycles, all-terrain vehicles (ATVs),
travel trailers and motorhomes (RVs). Coverage for boats, life, homes and
apartments is written by non-affiliated insurance companies and is secured
through the GEICO Insurance Agency, Commercial auto insurance and personal
umbrella protection are also available. For more information, go to
www.geico.com.

Contact:

GEICO Communications
301-986-3271