(‘cause that’s what really matters.)
Oh no, not this again.
Remember last week when we reported teens were dying on the highways due to texting?
Well, nobody cares. Nothing’s changed, anyway.
But Warren Buffett cares.
Turns out Berkshire Hathaway owns GEICO and this is costing Warren serious money.
State Farm reports a “moderate increase” in claims,
but they tend to insure senior citizens.
Allstate insures a lot of younger folks and saw a 47% decline in second quarter income.
But get this:
GEICO, which has a very young insured base drawn by the spokes-animals has single handedly brought a 37% drop in profits for the entirety of Berkshire Hathaway.
Now be honest, do you reflect on 3000 lost teenagers because they can’t set their telephone down while they drive?
You don’t. I know.
But you will when your auto insurance premium goes up.
Like Warren Buffet.