Car insurance is unique in that it is required of all drivers to have coverage in order to comply with state regulations. To advertise its product lines, the highly competitive industry spends a lot of money on television ads, social media, radio spots, print media, and online advertising.
What insurance company has the most commercials?
While Warren Buffet recently revealed in a letter to Berkshire Hathaway shareholders that his company spent nearly $900 million on advertising in 2010, let’s take a look at the AM Best data from 2009 (the most recent available) to see where the top 10 insurers stood.
Berkshire Hathaway/GEICO, led by Warren Buffet, came in at around $600 million, followed by State Farm, which came in at over $500 million. Allstate Insurance, which appeared to spend little less than $500 million dollars, rounded out the top three.
When it comes to pouring money at the fiercely competitive insurance market, Progressive, Farmers Insurance, and Liberty Mutual are no slouches either, with approximately $400 million, $350 million, and $300 million, respectively.
The 2010 numbers aren’t out yet, but based on Warren Buffet’s shareholder letter, a gambler would wager they’ll be much higher across the board.
Who is Jake from State Farm?
The original Jake from State Farm was not a trained actor, as Jordan Fraser of Medium explains. Jake Stone, a real-life State Farm employee, portrayed the character. Stone was cast as a customer service agent after winning an internal casting competition.
Why do insurance companies have jingles?
These jingles, which are usually heard at the end of ads, serve as a link between campaigns throughout a company’s history. Farmers Insurance, on the other hand, is using a cunning new approach to change where the music can be heard.
What percent of commercials are insurance?
So, how does insurance advertising compare to all other forms of national advertising? Is all of this expenditure even justified? The advertising budget of the top ten p-c insurer organizations in 2018 is listed below. The amount, $6.7 billion, accounts for around 2.7 percent of all advertising spending in the United States, which totals $240 billion.
How much does Liberty Mutual spend a year on advertising?
The Liberty Mutual Group includes Liberty Mutual Insurance. In the previous year, they spent more than $100 million on digital, print, and national television advertising. In the previous year, they spent over $250 million on premium ad units and promoted on over 250 distinct media properties across several media platforms.