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Pictured is the Geico Insurance office in San Diego. The company has closed each of its 38 California offices.
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The US insurance giant no longer offers brick-and-mortar locations to buy auto and home insurance in the state, according to the company’s website.
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A member of the company’s service team confirmed on Twitter on Wednesday that the Californian’s policy is in effect.
“We are still providing news within the state of California,” a representative told The Times in a tweet. “When a foreclosure occurs, it does not affect your policy.”
Geico policyholders can still access their accounts online or through the company’s mobile app. The agent said they could buy California policies online.
Lack of supply causes used car prices to rise sharply. That makes repo deals more profitable, because borrowers can repossess their cars days after default.
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Geico, which until recently had locations in the Los Angeles area, including one that opened last year in Burbank, currently has no dealerships in California.
The Sacramento Bee reported Monday that Geico has closed 38 of its offices in the state, leading to more than 100 layoffs. The insurance company’s website showed no locations or agents as of Tuesday morning.
The recently opened Santa Monica, Hawthorne, Burbank and Torrance locations are all listed online as “permanently closed.”
Headquartered in Maryland and founded in 1936, Geico is one of the nation’s largest auto and home insurance companies.
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Noah Goldberg reports breaking news for the Los Angeles Times. He previously worked in New York as a Brooklyn court reporter for the New York Daily News, covering major criminal trials as well as corporate stories. He was previously a criminal justice reporter for the Brooklyn Eagle. He serves insurance interests in the Overland Park, Kansas City metro and eastern Kansas areas. Your local GEICO dealer can help you save money on cars, motorcycles, homeowners, renters and more. Contact us today to create an insurance quote! Business hours may vary, so please call or email your local GEICO office to learn more.
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