New site offers tips on car-buying, renting and being financially responsible
Washington, D.C., January 4, 2013 – It's a new year and new resolutions are underway for many young adults. They're leaving their parents' homes and moving out of town, out of state and out of their comfort zone, according to new data from the U.S. Census Bureau. While they're making big moves, many young adults are also faced with making big financial decisions for the first time on their own.
To help overcome some of these challenges, GEICO has created GEICO's On Your Own, a website that addresses a variety of topics to help young adults tackle everyday financial decisions such as car buying, renting and managing their money.
"Many young adults are going to college or starting a new job in a new city," said Janice Minshall, GEICO's assistant vice president. "GEICO's On Your Own has a number of resources available to help young adults make smart decisions as they start being on their own."
More young adults are also buying new cars, reports the J.D. Power and Associates' Power Information Network. Through GEICO's On Your Own site, young buyers can learn the difference between buying and leasing a car, how to save money and the real truth behind auto insurance. For example, are red cars the most expensive vehicles to insure? The answer is no.
"With the increase of student loans and credit card debt, it's important for young adults to learn how to be financially responsible," said Mike Campbell, GEICO's chief financial officer. "Now is the time for them to start practicing good financial habits and getting the right insurance in place so that if something happens, they are protected."
For more information on auto buying, renting and being financially responsible, please visit www.geico.com/onyourown.
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 12 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.