The Complete Geico Car Insurance Review
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UPDATED: Sep 3, 2021
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|Current Executives||Tony Nicely - Executive Chairman
Bill Roberts - President and CEO
|Number of Employees||40,000|
|Total Assets (2017)||$32 billion|
|HQ Address||5260 Western Avenue
Chevy Chase, MD
|Premiums Written (Auto, 2017)||$29,596,404|
|Best For||Budget shoppers|
Geico has become one of the largest car insurance companies in industry. With a reputation for affordable rates and simple, straightforward policy purchasing, this might not be too surprising. Geico has been around for 80 years but has gained a particularly large chunk of the market share recently.
Now known for its adorable Australian Gecko mascot, this company sets itself apart from the rest of the industry by cutting down on overhead and agent commissions. There’s no doubt Geico offers some of the best rates nationwide, but will its coverage suit your needs?
Trying to figure out which insurance policy to purchase is confusing enough, you shouldn’t have to worry about digging through all the data and promises and ads. This Geico car insurance review compiles all the relevant facts about the company, and we’ve broken it down so it’s easy to understand.
In our Geico auto insurance review, we’ll look at company history, ratings from major industry reviews, and average customer satisfaction rates. And that’s just the tip of the iceberg. We’ll also tell you all about how Geico responds to driving mishaps and what kinds of coverage they offer. The average Geico car insurance rates are $327.20/mo or $3,926.37/year.
To start your search and find great car insurance quotes in your area, just enter your ZIP code above.
Ready to learn about Geico? Let’s do it.
Geico: Finding Cheap Car Insurance Rates
Let’s face it, you are here because you have questions:
- How much is car insurance with Geico?
- Is Geico the cheapest car insurance?
- If not, who is the cheapest car insurance company?
The price of a company’s policies is important. Switching between providers can save or cost customers hundreds of dollars.
We want to make sure you’re prepared for what you’ll pay for a Geico policy. So stick with us as we take an in-depth look at Geico’s rates.
We’ve partnered with Quadrant to bring you information about everything from average rates to the major factors that Geico actually considers when they determine how much you should pay. Let’s get started.
Geico Availability and Rates by State
Geico is available in all 50 U.S. states, which is great. It means that no matter where you move to, you can keep Geico as your provider. However, rates do change from state to state.
The table below shows Geico’s increases and decreases in price across the U.S.
|State||State Average Rates||Geico Annual Rates||Compared to State Average ($)||Compared to State Average (%)|
|District of Columbia||$4,439.24||$3,692.81||-$746.43||-16.81%|
Geico is cheaper than the state average in the majority of states, which shows it does have cheaper rates than most companies.
Geico Compared to the Top 10 Companies by Market Share
Geico claims it saves drivers 15 percent on car insurance, so let’s see how its rates compare to other companies in each state.
|State||State Average||Allstate||American Family||Farmers||Geico||Liberty Mutual||Nationwide||Progressive||State Farm||Travelers||USAA|
|Virginia||$2,357.87||$3,386.80||Data Not Available||Data Not Available||$2,061.53||Data Not Available||$2,073.00||$2,498.58||$2,268.95||Data Not Available||$1,858.38|
|Hawaii||$2,555.64||$2,173.49||Data Not Available||$4,763.82||$3,358.86||$3,189.55||$2,551.83||$2,177.93||$1,040.28||Data Not Available||$1,189.35|
|West Virginia||$2,595.36||$3,820.68||Data Not Available||Data Not Available||$2,120.80||$2,924.39||Data Not Available||Data Not Available||$2,126.32||Data Not Available||$1,984.62|
|Massachusetts||$2,678.85||$2,708.53||Data Not Available||Data Not Available||$1,510.17||$4,339.35||Data Not Available||$3,835.11||$1,361.86||$3,537.94||$1,458.99|
|Maine||$2,953.28||$3,675.59||Data Not Available||$2,770.15||$2,823.05||$4,331.39||Data Not Available||$3,643.59||$2,198.68||$2,252.97||$1,930.79|
|Idaho||$2,979.09||$4,088.76||$3,728.79||$3,168.28||$2,770.68||$2,301.51||$3,032.19||Data Not Available||$1,867.96||$3,226.29||$1,877.61|
|Washington||$3,059.32||$3,540.52||$3,713.02||$2,962.00||$2,568.65||$3,994.73||$2,129.84||$3,209.52||$2,499.78||Data Not Available||$2,262.16|
|New Hampshire||$3,151.77||$2,725.01||Data Not Available||Data Not Available||$1,615.02||$8,444.41||$2,491.10||$2,694.45||$2,185.46||Data Not Available||$1,906.96|
|Wyoming||$3,200.08||$4,373.93||Data Not Available||$3,069.35||$3,496.56||$1,989.36||$3,187.20||$4,401.17||$2,303.55||Data Not Available||$2,779.53|
|Montana||$3,220.84||$4,672.10||Data Not Available||$3,907.55||$3,602.35||$1,326.11||$3,478.26||$4,330.76||$2,417.74||Data Not Available||$2,031.89|
|Vermont||$3,234.13||$3,190.38||Data Not Available||Data Not Available||$2,195.71||$3,621.08||$2,128.21||$5,217.14||$4,382.84||Data Not Available||$1,903.55|
|Nebraska||$3,283.68||$3,198.83||$2,215.13||$3,997.29||$3,837.49||$6,241.52||$2,603.94||$3,758.01||$2,438.71||Data Not Available||$2,330.78|
|Missouri||$3,328.93||$4,096.15||$3,286.90||$4,312.19||$2,885.33||$4,518.67||$2,265.35||$3,419.14||$2,692.91||Data Not Available||$2,525.78|
|North Carolina||$3,393.11||$7,190.43||Data Not Available||Data Not Available||$2,936.69||$2,182.71||$2,848.03||$2,382.61||$3,078.65||$3,132.66||Data Not Available|
|Indiana||$3,414.97||$3,978.81||$3,679.68||$3,437.55||$2,261.07||$5,781.35||Data Not Available||$3,898.00||$2,408.94||$3,393.75||$1,630.86|
|Alaska||$3,421.51||$3,145.31||$4,153.07||Data Not Available||$2,879.96||$5,295.55||Data Not Available||$3,062.85||$2,228.12||Data Not Available||$2,454.21|
|New Mexico||$3,463.64||$4,200.65||Data Not Available||$4,315.53||$4,458.30||Data Not Available||$3,514.38||$3,119.18||$2,340.66||Data Not Available||$2,296.77|
|Alabama||$3,566.96||$3,311.52||Data Not Available||$4,185.80||$2,866.60||$4,005.48||$2,662.66||$4,450.52||$4,798.15||$3,697.80||$2,124.09|
|Wisconsin||$3,606.06||$4,854.41||$1,513.27||$3,777.49||$3,926.20||$6,758.85||$5,224.99||$3,128.91||$2,387.53||Data Not Available||$2,975.74|
|Utah||$3,611.89||$3,566.42||$3,698.77||$3,907.99||$2,965.57||$4,327.76||$2,986.57||$3,830.10||$4,645.83||Data Not Available||$2,491.10|
|Tennessee||$3,660.89||$4,828.85||Data Not Available||$3,430.07||$3,283.42||$6,206.69||$3,424.96||$3,656.91||$2,639.30||$2,738.52||$2,739.28|
|Mississippi||$3,664.57||$4,942.11||Data Not Available||Data Not Available||$4,087.21||$4,455.94||$2,756.53||$4,308.85||$2,980.48||$3,729.32||$2,056.13|
|California||$3,688.93||$4,532.96||Data Not Available||$4,998.78||$2,885.65||$3,034.42||$4,653.19||$2,849.67||$4,202.28||$3,349.54||$2,693.87|
|Arizona||$3,770.97||$4,904.10||Data Not Available||$5,000.08||$2,264.71||Data Not Available||$3,496.08||$3,577.50||$4,756.25||$3,084.74||$3,084.29|
|South Carolina||$3,781.14||$3,903.43||Data Not Available||$4,691.85||$3,178.01||Data Not Available||$3,625.49||$4,573.08||$3,071.34||Data Not Available||$3,424.77|
|Colorado||$3,876.39||$5,537.17||$3,733.02||$5,290.24||$3,091.69||$2,797.74||$3,739.47||$4,231.92||$3,270.77||Data Not Available||$3,338.87|
|South Dakota||$3,982.27||$4,723.72||$4,047.47||$3,768.80||$2,940.29||$7,515.99||$2,737.66||$3,752.81||$2,306.23||Data Not Available||Data Not Available|
|Pennsylvania||$4,034.50||$3,984.12||Data Not Available||Data Not Available||$2,605.22||$6,055.20||$2,800.37||$4,451.00||$2,744.23||$7,842.47||$1,793.37|
|Texas||$4,043.28||$5,485.44||$4,848.72||Data Not Available||$3,263.28||Data Not Available||$3,867.55||$4,664.69||$2,879.94||Data Not Available||$2,487.89|
|Arkansas||$4,124.98||$5,150.03||Data Not Available||$4,257.87||$3,484.63||Data Not Available||$3,861.79||$5,312.09||$2,789.03||$5,973.33||$2,171.06|
|Oklahoma||$4,142.33||$3,718.62||Data Not Available||$4,142.40||$3,437.34||$6,874.62||Data Not Available||$4,832.35||$2,816.80||Data Not Available||$3,174.15|
|North Dakota||$4,165.84||$4,669.31||$3,812.40||$3,092.49||$2,668.24||$12,852.83||$2,560.35||$3,623.06||$2,560.53||Data Not Available||$2,006.80|
|New York||$4,289.88||$4,740.97||Data Not Available||Data Not Available||$2,428.24||$6,540.73||$4,012.93||$3,771.15||$4,484.58||$4,578.79||$3,761.69|
|Minnesota||$4,403.25||$4,532.01||$3,521.29||$3,137.45||$3,498.54||$13,563.61||$2,926.49||Data Not Available||$2,066.99||Data Not Available||$2,861.60|
|District of Columbia||$4,439.24||$6,468.92||Data Not Available||Data Not Available||$3,692.81||Data Not Available||$4,848.98||$4,970.26||$4,074.05||Data Not Available||$2,580.44|
|Maryland||$4,582.70||$5,233.17||Data Not Available||Data Not Available||$3,832.63||$9,297.55||$2,915.69||$4,094.86||$3,960.87||Data Not Available||$2,744.14|
|Connecticut||$4,618.92||$5,831.60||Data Not Available||Data Not Available||$3,073.66||$7,282.87||$3,672.34||$4,920.35||$2,976.24||$6,004.29||$3,190.00|
|Florida||$4,680.46||$7,440.46||Data Not Available||Data Not Available||$3,783.63||$5,368.15||$4,339.60||$5,583.30||$3,397.67||Data Not Available||$2,850.41|
|Georgia||$4,966.83||$4,210.70||Data Not Available||Data Not Available||$2,977.20||$10,053.44||$6,484.90||$4,499.22||$3,384.88||Data Not Available||$3,157.46|
|Rhode Island||$5,003.36||$4,959.45||Data Not Available||Data Not Available||$5,602.63||$6,184.12||$4,409.63||$5,231.09||$2,406.51||$6,909.45||$4,323.98|
|Kentucky||$5,195.40||$7,143.92||Data Not Available||Data Not Available||$4,633.59||$5,930.97||$5,503.23||$5,547.63||$3,354.32||$6,551.68||$2,897.89|
|New Jersey||$5,515.21||$5,713.58||Data Not Available||$7,617.00||$2,754.94||$6,766.62||Data Not Available||$3,972.72||$7,527.16||$4,254.49||Data Not Available|
|Louisiana||$5,711.34||$5,998.79||Data Not Available||Data Not Available||$6,154.60||Data Not Available||Data Not Available||$7,471.10||$4,579.12||Data Not Available||$4,353.12|
|Delaware||$5,986.32||$6,316.06||Data Not Available||Data Not Available||$3,727.29||$18,360.02||$4,330.21||$4,181.83||$4,466.85||$4,182.36||$2,325.98|
|Michigan||$10,498.64||$22,902.59||Data Not Available||$8,503.60||$6,430.11||$20,000.04||$6,327.38||$5,364.55||$12,565.52||$8,773.97||$3,620.00|
Geico is among the cheapest companies in each state. Generally, USAA is the cheapest. However, USAA’s coverage is only available to military families.
Average Geico Male vs. Female Car Insurance Rates
Many insurance companies factor in a driver’s gender when determining their car insurance rate. However, this practice has become increasingly unpopular to the extent that many states have passed legislation prohibiting it.
California, Hawaii, Massachusetts, Montana, Pennsylvania, North Carolina, and parts of Mississippi have all banned insurers from using gender to determine rates.
Why do insurers base rates on gender?
Well, the gender rate difference is based on accident data. Most insurers consider males to be riskier drivers, and therefore more likely to file an expensive claim. Below are Geico’s rates based on gender.
|Driver Age, Gender, and Marital Status||Average Annual Car Insurance Rates|
|Married 60-year-old female||$2,247.06|
|Married 60-year-old male||$2,283.45|
|Married 35-year-old female||$2,302.89|
|Married 35-year-old male||$2,312.38|
|Single 25-year-old female||$2,378.89|
|Single 25-year-old male||$2,262.87|
|Single 17-year-old female||$5,653.55|
|Single 17-year-old male||$6,278.96|
Geico charges males more than females, with the exception of 25-year-old females. As you can see, age is also an important factor, as teens have higher car insurance rates. 60-year-old drivers pay about ,000 less than 17-year-old drivers.
Average Geico Rates by Make and Model
If you own a sports car, you’re probably aware that certain vehicles cost more to insure. Below are Geico’s costs for different makes and models.
|Vehicle Make and Model||Geico Average Annual Rates|
|2015 Toyota RAV4: XLE||$3,090.89|
|2015 Ford F-150: Lariat SuperCab with 2WD 6.5 foot bed and 2.7L V6||$3,092.11|
|2015 Honda Civic Sedan: LX with 2.0L 4cyl and CVT||$3,092.58|
|2018 Toyota RAV4: XLE||$3,337.18|
|2018 Ford F-150: Lariat SuperCab with 2WD 6.5 foot bed and 2.7L V6||$3,338.40|
|2018 Honda Civic Sedan: LX with 2.0L 4cyl and CVT||$3,338.87|
The difference between the most and least expensive make and model is less than $300. This isn’t bad at all.
Average Geico Commute Rates
At the majority of companies, how far you drive matters. Drivers with long distances to travel will have to contend with higher rates.
Below you can see Geico’s average price for drivers with two different commute lengths.
|Average Commute||Geico Average Annual Rate|
|10 Mile Commute|
6,000 Miles Annually
|25 Mile Commute|
12,000 Miles Annually
Geico increases rates just over $100 for a longer commute. This is on par with other companies in the industry.
Average Geico Coverage Level Rates
More coverage equals better protection in case of an accident or other mishap. However, some companies’ price increases make getting full coverage impractical for a lot of drivers.
People that choose a lower level of coverage usually do so not because they think they don’t need full coverage, but because they think they can’t afford it. This next comparison shows Geico’s rates for three different coverage levels.
Let’s see how much Geico charges to upgrade to medium or high coverage.
|Coverage Level||Geico Average Annual Rates|
There’s a difference of $437.23 a year between the low level of coverage and the high level. That’s a little over $35 a month, which isn’t a big difference considering the increase in coverage. About $18 a month will take you from low to medium coverage.
At other companies, the same upgrade might cost you $1,000.
Average Geico Credit History Rates
While it might seem a little unfair, insurance companies often charge drivers with low credit scores a higher rate. This is because they believe that this is indicative of financial instability and/or irresponsibility.
The average credit score in the U.S. is 675, which most insurers consider to be a good credit score.
If your credit score is below this, your insurer may charge you more. Some insurers raise rates based on this factor more than others, though, which is why it’s important to shop around if you have poor credit. Let’s see what Geico charges on average.
|Credit History||Geico Average Anual Rates|
At Geico, the drop from good to poor credit will cost drivers an average of $1,825. This price increase is common at most providers, where poor credit will cost drivers anywhere from $1,000 to $2,000.
Average Geico Driving Record Rates
Accident-prone? Insurers look in-depth at drivers’ histories. If you have multiple accidents on your record, your insurer will raise your rate.
DUIs and speeding tickets will also result in paying more for your insurance coverage.
|Driving History||Geico Average Annual Rates|
|With 1 Speeding Violation||$2,645.43|
|With 1 Accident||$3,192.77|
|With 1 DUI||$4,875.87|
A DUI is the worst offense at Geico, raising rates $2,730 from a clean record. An accident will cost drivers $1,047, and a speeding violation will cost drivers $500.
Remember, too, that these are increases for a first offense. Your rates will be much more severely affected by additional offenses.
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Geico: Coverages Offered
While we know Geico’s prices are lower than most state averages, we want to make sure the company still offers the full range of coverages.
Sometimes, companies with low prices will make up for it by scrimping on the protection they give you. To make sure this doesn’t apply to Geico, we’re going to go through the company’s main coverage options, discounts, and programs.
Let’s get started.
Types of Coverages Offered
Below is a full list of Geico’s car insurance coverage options.
- Classic Car Insurance – Geico offers insurance for vintage cars that is cheaper than insurance for your everyday vehicle.
- Collision Coverage – If you hit another car or an object (like a mailbox or tree), collision coverage will pay for repairs to your vehicle.
- Commercial Coverage – Commercial coverage is for vehicles used for business, such as a flower delivery truck.
- Comprehensive Coverage – If you hit something other than another vehicle, comprehensive coverage will help. Comprehensive covers damage from natural disasters, animal collisions, thefts, and vandalism.
- Emergency Road Service – Geico will help with common breakdowns, such as changing flat tires, jump-starting a dead battery, bringing gas, unlocking a car, or towing.
- Liability Coverage – Geico provides both bodily and property damage liability insurance. These coverages pay for both injury and damage costs in an accident that you caused.
- Mechanical Breakdown Assistance – If you have a mechanical breakdown that results in your car needing major repairs, Geico will cover the cost of these repairs.
- Medical Payments Coverage – Geico will pay for your medical expenses after an accident.
- Mexico Car Insurance Coverage – Your regular policy won’t cover you when you drive in Mexico. Geico offers daily, 6-month, or annual coverage for travelers to Mexico.
- Personal Injury Protection – This coverage helps pay for lost wages and other accident-related costs, as well as your medical expenses.
- Rental Reimbursement – Geico will pay for a rental car while your car is in the repair shop.
- Ridesharing – States require rideshare drivers to have rideshare insurance, so if you want to drive for Uber or Lyft you’ll need this coverage.
- Umbrella Coverage – This is useful if another driver sues you, as it provides extra liability coverage that can help pay for a lawyer.
- Uninsured/Underinsured Motorist Coverage – This coverage makes sure you don’t pay out of pocket for an accident. If another driver causes an accident and they have poor insurance (or none), that driver will be unable to pay for your damages.
- Geico renters insurance
- Geico home insurance
Geico offers an impressive array of coverages and add-ons, which means you can get exactly what you need while still saving money.
Factors That Affect Your Rate
We’ve already gone over some of the major factors that can affect your rates, such as driving records, credit scores, and location.
Some factors insurance companies consider when adjusting your rates are more or less out of your control. If you want to save yourself some money, the best thing to do is look into discounts. Because Geico offers more than just car insurance, they have bundling discounts. Below are the main types of insurance Geico offers.
- Property Insurance (homeowners, renters, condos/co-ops, and mobile home)
- Business Insurance
- Life Insurance
- Identity Protection Insurance
- Pet Insurance
- Travel/Overseas Insurance
- Jewelry Insurance
So if you bundle something like Geico home insurance and auto insurance, or auto and life insurance, you’ll receive a discount. If you like the idea of having all your policies at one insurer, then bundling may be for you.
Getting the Best Rate with Geico
There are multiple discounts at Geico that go beyond bundling policies. Below is a list of discounts that Geico offers, as well as what percentage customers save (when known).
|Geico Discounts Offered||Maximum Possible Savings|
|Daytime Running Lights||1%|
|Seat Belt Use||15%|
|Students and Alumni||x|
|Total Discounts Provided||31|
Geico offers a total of 31 discounts, which is on the higher end. A majority of the discounts are also easy to get, such as signing up early or paying in full.
Geico also offers a wide range of helpful programs for its customers.
- Accident Forgiveness – This program can save you a significant amount of money. You may have to pay a monthly fee for this program if your driving record is poor or you’ve only been with Geico for a short time. However, accident forgiveness makes sure your rates don’t increase with your first accident at Geico, saving you money in the long run.
- Auto Repair Express – Geico’s car repair program makes sure you receive priority treatment at repair shops so you can quickly get back on the road after an accident.
- Car Buying Service – This program is helpful when car shopping, as it shows you what other drivers have paid for a car.
- DriveEasy App – Geico’s usage-based app offers discounts for driving safely. The app records driving habits, such as hard-braking or distracted driving (simply staying off your phone in the car will earn you points).
- Prime Time Contract – This guaranteed renewal program is for drivers over 50 years old.
Geico offers more programs than other companies. Not only do they have a repair shop program, but they also have a car-buying service to help you save on a new vehicle.
What Stands Out and What’s Missing
We’ve covered a great deal by now about Geico’s coverages, rates, and discounts. Let’s take a moment to recap and see what Geico is missing and what stands out.
- What Stands Out – Geico has a fantastic selection of coverages and add-ons to choose from, more than other companies. It also has a high number of discounts to choose from and programs that can further lower costs.
- What’s Missing – Geico is missing simple discounts like autopay or paperless billing. However, this is a small disadvantage compared to the multiple discounts that Geico does offer.
Overall, Geico has a lot going for it in comparison to what it lacks.
Canceling Your Policy
If you find you aren’t completely satisfied with Geico, you can, of course, cancel your policy.
Sometimes insurers can make the “break up” process difficult. To make sure you won’t spend hours on the phone, we’re going to go through Geico’s cancellation process.
Let’s look at the details.
Geico does not charge a cancellation fee. So, if you cancel your policy, you won’t have to pay to leave Geico.
Is there a refund?
Geico doesn’t mention refunds in their cancellation guidelines, but the company will offer a refund if you cancel before the next renewal cycle.
For example, if you prepaid for a year’s worth of coverage but cancel in the eighth month, Geico will refund you for the unused four months of coverage.
How to Cancel (Step-by-Step Guide)
Geico’s cancellation process is easy. All you have to do is call (800) 841-1587 to speak with an agent.
This Geico phone number is available 24/7, so you can call at any time to cancel. Make sure you have your Geico policy number on hand when you call. You may also be required to provide proof of your new insurance policy if you’re switching providers.
This is because car insurance is a legal requirement in most places. So make sure to have a new insurer lined up before you call Geico to cancel. If you don’t provide proof of switching insurers (or proof you sold your vehicle and no longer need insurance), then Geico may not cancel your policy.
Also, be prepared for Geico to ask why you’re canceling, as the service representative may want to see if there’s a way to improve your rate or policy to keep you as a customer.
Overall, though, Geico has a very simple and straightforward cancellation process, as they only have one method for cancellation (calling).
When can I cancel?
You can cancel at any time, even if it’s before a renewal cycle ends. While some insurers will penalize customers who cancel before a renewal cycle ends, Geico doesn’t have a penalty fee.
The cancellation will go into effect immediately, so sign up with a new provider before canceling your car insurance policy.
To make sure your policy is canceled, you can call Geico or sign in to your online account. If you have automatic payments set up, then check after canceling to make sure you aren’t still being charged.
How to Make a Claim
Accidents happen to even the best of drivers. Knowing how to make a car insurance claim can help lessen stress when an accident happens to you.
To make sure that Geico has an easy claims process, we’re going to give you all the information you need to know about filing a claim with this provider.
Stick with us as we go through everything from how to make a claim to how many claims Geico pays out each year.
Ease of Making a Claim
Luckily, Geico makes it easy to file a claim, and there are several ways you can do this:
- Agent – If you have a local agent, you can contact your agent directly to file a claim.
- App – Geico’s mobile app allows customers to file a claim on the go.
- Online – You can also sign in with your Geico insurance login on the main website to file a claim online.
- Phone – Call (800) 841-3000 to file a claim over the phone.
All of these methods are available 24/7 (except for talking to a local agent). So even if you run into a deer at 3 a.m., you can file a claim directly.
While we know Geico has increased its market share over the last few years, we want to see if it has also increased its number of earned premiums.
Geico’s written premiums increased dramatically from 2017-2018. Before that, Geico’s written premiums were slowly but steadily increasing. This shows that Geico has continued to attract a steady number of customers.
Loss ratios tell us how much a company is earning. If a company is bringing in enough earned premiums to balance out the amount lost in claims, it will have a good loss ratio.
It’s important to look out for a high or low loss ratio when considering insurance companies. A high loss ratio means a company is paying out too many claims and is hemorrhaging money. On the other hand, a low loss ratio means a company is paying out very few claims (which could be a problem if you have to file a claim yourself).
Below are Geico’s loss ratios over a four-year span.
Loss ratios between 40 and 60 percent are generally considered healthy, so Geico’s loss ratios were a little high for these years, but given how fast its business has been growing, it’s unlikely you need to worry about the company having financial issues anytime soon.
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How to Get a Quote Online
While we’ve gone over average rates, we’ve also explained that your rate will be custom-tailored to your personal circumstances, so you may want to get a quote from Geico so you’ll know exactly how much you’ll be paying.
Stick with us as we go through a step-by-step guide on how to get a quote online.
Step 1: Visit Website
The first thing you need to do is visit Geico’s website. Right away, you’ll see the option to get a free quote.
Simply select the type of insurance you want a quote for (auto), enter your ZIP code, and click start quote.
Step 2: Enter Contact Information
Next, you will be asked to enter your personal information.
Geico will request your name, address, and contact information.
Step 3: Enter Vehicle Information
Geico will then ask you to enter information about your vehicle(s).
Enter what you know about your vehicles, such as make and model and distance driven.
Step 4: Driver Information
Geico will ask questions related to your driving history, such as past accidents.
Geico will also ask questions about driving courses and affiliations to determine discounts.
Step 5: Details
On the last page, Geico gives you an option to customize your coverage.
If you don’t do this step, Geico will give you a quote for the minimum coverage in your state.
Step 6: Get Quote
At the end, Geico will ask for an email address or phone number so you can save your quote. This allows you to go back and check the quote for up to 90 days.
As a reminder, you need the following to apply for a free Geico quote.
|Social Security Number||No (Optional)|
|Vehicle Identification Number||No|
|Contact Information (email, phone, address, etc.)||Yes|
|Personal Information (affiliations, gender, etc.) for Discounts||Yes|
Having this information prepared beforehand will make getting a quote quicker.
Design of Geico Website and Geico App
The design of a website or app is an important factor to consider. If you’ve ever deleted an app because it took too long to start or exited out of a website because the navigation was too complex, then you know how frustrating poor design can be.
If insurers don’t have well-designed websites and fast-loading pages, customers will become irritated and may even start looking for another provider.
So let’s take a look at Geico’s website and mobile apps.
Geico has a clutter-free website that’s easy to navigate.
There are two menus (insurance and information) on the upper left side of the screen. On the upper right side of the screen, there is also a search bar and a log in option.
Below is an example of what appears when you click on the insurance drop-down menu.
The clear layout of the dropdown menu and an additional search bar makes it easy to find information on Geico’s website. If you have an account, you can also sign in and message an agent.
Geico’s mobile app has done well. On the Apple store, the app has 4.8 stars (from over 1.4 million reviews).
The majority of reviews are positive. Most of the complaints are about simple bugs, which are usually fixed with updates.
Below is a list of everything you can do with Geico’s mobile app.
- View/share ID cards
- Pay/manage bills
- Roadside Assistance
- Submit claims/view claims process
- Submit pictures of an accident
- Talk to Geico representative
- Get a new quote
- Use Geico Explore
The app is useful, as you can do everything from pay bills to submit a claim on your phone. Geico’s DriveEasy app has also done well. Though it only has a handful of reviews, the app has over four stars on the Apple store.
Geico’s usage-based app seems to have avoided the common bugs that other driving apps have, such as incorrect recording of hard-braking. However, some users do say that the app drains their smartphone’s battery.
If you have a charger in your car, this shouldn’t be an issue.
Geico’s Car Insurance Ratings
Is Geico a good insurance company?
To find out, we’ll take a look at how Geico is rated by some of the top industry names. National and global rating agencies and services grade insurance providers based on a variety of criteria. Here’s a table showing how Geico did in recent studies. Below, we’ll break down what each rating means.
|Better Business Bureau||B+|
|J.D. Power||Claims Satisfaction 3/5|
|NAIC Complaint Index||0.80|
|Shopping Study 3/5|
Most of the names are probably familiar, but you might not know what these scores actually mean. From AM Best, Geico earned the highest possible score of A++ (Superior).
AM Best’s ratings focus on financial strength, so this means that Geico is as stable as can be — no need to worry about the company being unable to pay for a claim, should you need to file one.
The Better Business Bureau (BBB) is a consumer organization that monitors customer complaints and company responses. They rate based on a ratio comparing the number of complaints to the overall size of a business, complaint response rates, and several other factors. Based on these metrics, Geico is currently a little bit below perfect.
Over the last three years, customers filed 3,129 complaints with the BBB against Geico. Though this might seem like a substantial number, considering how much business Geico does, it’s actually on the lower end.
As for Standard and Poor’s (S&P), these companies rate insurers based on financial stability and creditworthiness. Geico holds an excellent standing with both. This is further proof that Geico has a positive financial outlook for the foreseeable future.
The National Association of Insurance Commissioners (NAIC) rates companies after gathering complaint data from state-wide insurance departments. Once they’ve compiled the data, they issue their rating. Since Geico operates as several companies (most of the big insurance companies in America do), there are several “Geicos” to choose from when looking at complaint indexes.
In our chart, we’ve shown the rating for Geico’s largest car insurance branch, Geico General Insurance Company. The national median is currently 1.00, which places Geico a bit below average. That’s good news, meaning they receive fewer complaints than the average insurer.
J.D. Power is another useful agency to consult for information on consumer satisfaction. Based on two nationwide surveys, Geico received a rating of three out of five in 2018. That’s an “about average” rating, so nothing to be concerned about (but nothing to be excited about either).
Last, but certainly not least, is Consumer Reports. They use customer survey data to rate insurers on a scale of 1 to 100. Geico earned a strong 89, tying with State Farm and just edging out Progressive (which scored 87).
When looking at complaint data, it’s important to take in the full picture. Simply looking at the number of complaints can put you off of a company without even looking at their services or rates. However, you should look at the number of complaints compared to other similarly sized companies to see how they measure up.
Geico has recently squeezed past >Allstate, becoming the second-largest auto insurer, just behind State Farm. Geico and Allstate are both roughly the same size in terms of car insurance, while State Farm is nearly twice the size of each. Looking at the complaint totals on ConsumerAffairs.com will give you a better idea of how these companies are treating customers.
- Geico – 2,930 complaints
- State Farm – 2,657 complaints
- Allstate – 1,444 complaints
Another online complaint source, Pissed Consumer, shows a similar trend (though this website combines complaints across auto, home, life, and other insurance):
- State Farm – 838 complaints
- Geico – 802 complaints
- Allstate – 490 complaints
Allstate, which does more business across life and home insurance, has just over half the number of complaints as Geico (which primarily writes car insurance claims). State Farm, which is almost twice as big as Geico, has virtually identical complaint numbers.
In sum, Geico is a solid option across the board, especially when it comes to financial ratings. That said, the company could work a little more to improve customer satisfaction ratings.
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Geico stands for Government Employees Insurance Company, and it was founded in 1936 for the purpose its name implies.
They marketed products exclusively to government employees and certain classes of military officers for the first 40 years of their existence. In 1974, Geico opened its availability to the general public and shortly thereafter faced financial problems.
The company recovered from the difficulty of the 1970s, and in 1996 was acquired by Warren Buffet’s conglomerate Berkshire Hathaway.
Geico grew quickly on a national level. In 2000 they introduced the Geico Gecko (more on that later), a marketing success that made Geico one of the most recognizable names in insurance.
By 2015, Geico had reached its current position as the second-largest car insurance company in the country. As growth continues, Geico continues to sneak up on top insurer State Farm.
In 2015, Geico held 11.41 percent of the total market share. That number went up to 11.89 percent in 2016 and up again to 12.79 percent.
As of 2017, Geico is just 5.28 percent behind State Farm and climbing.
Geico’s parent company, Berkshire Hathaway, sits at number three on the Fortune 500 as of 2018. You’ll sometimes see Geico listed under the Berkshire Hathaway name when looking at ratings and rankings, such as the NAIC’s market share list.
Geico Market Share
We already briefly touched on Geico’s market share. Let’s look at it in more detail, though:
|Year||Market Share of Liability||Market Share of Physical Damage||Total Market Share|
Geico’s market share has risen since 2015. It’s the company’s premiums, though, that make it stand out from its peers. While its overall growth may be on the slow side, that same trend reflects a steadily growing public appeal.
Geico’s Position for the Future
Geico appears to have a bright future. It has great financial standing (according to multiple different rating sites) and has shown steady growth.
Despite some customer satisfaction ratings that in the average range, Geico has managed to attract new customers on a regular basis. The company also has great rates — lower than most companies — which is probably why so many drivers switch to Geico.
Overall, Geico is in no danger of going under anytime soon, and it should continue to grow as one of the top insurance providers.
Geico’s Online Presence
These days, a company has to have a strong online presence, not just a physical one. Let’s take a look at how you can find information or contact Geico online.
- Apps – Geico’s mobile apps allow you to contact a service representative.
- Email – You can directly message Geico on its website.
- Online – Geico’s website also allows you to find information and answers to commonly asked questions.
These multiple online service methods make it easy to find information. If you’d rather contact Geico through a different method, you have options.
- Agents – You can search for a physical location and find agents in your area so you can talk to someone directly.
- Mail – You can send a physical letter to Geico’s headquarters. Bear in mind that this contact method will take the longest.
- Phone – Geico’s main phone number is (800) 207-7847.
With Geico offering so many outreach methods, you can pick a way that feels comfortable to you, whether it’s calling someone or sending off a quick email.
Geico is well-known for its mascots and taglines. The “so easy a caveman could do it” and “save 15 percent or more” have become trademarks of the company’s brand.
While some companies focus on sentimental messages (such as protecting family), Geico uses humor and pop culture to promote its brand. Because Geico’s mascots have become so well known, the company has done a great job of promoting itself and attracting new customers.
Geico in the Community
Because Geico is a large company, it has dedicated a portion of its time and resources to community involvement.
Below are Geico’s community involvement projects.
- Geico supports United Way, March of Dimes, and Make-A-Wish Foundation through volunteer work and donations.
- Geico sponsors participants at multiple events, such as the American Cancer Society’s Relay for Life walk.
- Geico hosts blood drives every year to encourage donations.
- Geico has raised $320,000 for the Children’s National Hospital.
Geico also encourages employees to volunteer each year through its Geico Cares program. The importance that Geico places on volunteering and donating is great, as it demonstrates that Geico cares about its customers and their communities.
Now that we know Geico does a good job of helping communities, we want to look at how well Geico takes care of its employees.
Before we get into employee experience, let’s see how long Geico employees stay with the company. Below is A Great Place to Work’s information on Geico employees.
|Tenure||Percentage of Employees|
The majority of Geico’s employees stay for less than two years at the company. Let’s see what employees thought of their time working for the company.
- 86 percent say people are treated fairly regardless of sex.
- 86 percent say Geico is a friendly place to work.
- 85 percent say employees are given a lot of responsibility.
- 85 percent say they feel good about the ways the company contributes to the community.
- 85 percent say that when you join the company, you are made to feel welcome.
A Great Place to Work did certify Geico as a Great Place to Work, although this certification expired in 2016.
On Glassdoor, there are almost 4,000 reviews about working at Geico. Overall, the company earned 3.2 stars out of five.
Common complaints with the company are poor salaries, jobs not as advertised, and heavy workloads. Those who applaud the company say Geico has great benefits and growth opportunities.
However, only 56 percent of employees would recommend Geico to a friend. While a higher percentage approve of the CEO (76 percent), the majority of employees seem lukewarm about promoting the company to others.
Payscale is another employee satisfaction website. Geico earned 3.3 stars out of five, based on the following factors.
|Factor||Rating (Out of 5)|
|Learning and Development||3.7|
As you can see by these Employee Satisfaction ratings, Geico ranks highest in categories like Company Outlook (4.4) and Manager Relationship (4.1). Also of note is the company’s score for Learning and Development (3.7) – a figure that could be reflective of whether the insurer has a solid employee training program in place.
On the flip side, Geico receives its lowest marks for Fair Pay (3.0) and its Pay Policy (3.2).
Now that we know what employees think of working at Geico, we want to see what awards Geico has won for its workplace in the past few years (we’ve only included awards for 2017-2018).
- 2017 AnitaB.org Top Company for Women Technologists Award
- 2017 Best Places to Work in Western New York (Buffalo office)
- 2017 Bibb County Schools VIP (Victory in Progress) Industry Award for associate volunteerism (Macon office)
- 2017 Indianapolis Star Top Workplace designation (Indianapolis office)
- 2017 The Des Moines Register Top Workplace designation (Coralville office)
- 2017 BestCompaniesAZ Best Companies in AZ designation (Tucson office)
- 2018 Employer Support of the Guard and Reserve (ESGR) Patriot Award
- 2018 Michael J. Harris Spirit of Tucson Award (Tuscan office)
- 2018 Virginia Values Veterans (V3) recognition for commitment to hiring veterans
Geico has an impressive list of awards to its name. Quite a few of Geico’s individual offices have won awards for their workplace environment.
Geico: Pros and Cons
Now that we’re nearing the end of this guide, we want to take a moment to look at Geico’s pros and cons.
|Well rated mobile app||Discount driving app is still in development and not fully vetted yet|
|Lower rates on average than most providers||Considerably raises prices after common driving mistakes (accidents, etc.)|
|Available in all 50 states||May increase rates after you move|
|Wide range of coverages and discounts||Not all discounts save significant amounts|
It’s up to you whether Geico’s pros or cons are more important. Everybody has different requirements for what they want from an insurance provider.
Geico: The Bottom Line
Geico hasn’t become a top insurance company by chance. The company has great coverage options and add-ons for an economical price that’s one of the cheapest out of all the major insurers.
Multiple discounts at Geico allow customers to truly save 15 percent or more on their car insurance policies.
Its customer satisfaction ratings and financial strength are both great as well. Both of these factors have helped Geico grow substantially over the past decade.
Based on these positive features, Geico should be around for a while and more than capable of handling your car insurance needs.
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Geico Car Insurance FAQ
Still have questions about Geico car insurance? Below, we’ve compiled a list of the most commonly asked questions and provided answers.
Keep reading to see what others are asking about Geico insurance.
Does Geico cover windshield repairs or replacements?
Geico will cover glass repairs/replacement but usually only if you have comprehensive coverage. If you aren’t sure if your policy covers this benefit, you can call and ask an agent.
Will Geico cover me if I drive abroad?
Geico only offers coverage extensions for Mexico. You’ll have to purchase Mexico coverage from Geico before traveling.
Geico will also cover you if you drive through Canada without requiring you to purchase additional coverage.
Does Geico cover rental cars?
The answer to this question depends. In some cases, if you already have comprehensive and collision coverage, Geico’s coverage will extend to your rental car.
However, it’s best to call Geico and ask about your rental car coverage options. In some cases, you might want to purchase rental car coverage.
Make sure to call ahead of time, rather than waiting until you’re in the rental car line and realizing you don’t know if your Geico policy will cover your car.
Does Geico cover damage from floods and other natural disasters?
Unless you have comprehensive coverage, Geico will not cover damages caused by something other than a collision with another vehicle or object.
With comprehensive coverage, though, Geico will cover damages from floods, fire, hail, heavy winds, and more. Geico will also cover you in cases of an animal collision, vehicle theft, or vandalism.
How can I reduce Geico car insurance costs?
Geico already has lower premiums than average in most states, but there are still ways to save money on your car insurance.
While keeping a clean driving record is a great way to keep costs low, make sure you are also taking advantage of discounts, from bundling to discounts for safety features.
Does Geico car insurance have a grace period?
If you don’t make a payment on time, Geico will send you a notice of cancellation. You must pay by the time listed on the notice, or Geico will cancel your insurance policy.
To avoid forgetting to pay a bill and being faced with cancellation, you can sign up for automatic payments.
How do I renew a Geico policy?
Car insurance policies automatically renew, although Geico should send you a notice of renewal beforehand.
Automatic renewal is useful, as it makes sure customers aren’t stuck without insurance if they forget to renew on time.
How do I cancel a Geico policy?
You can cancel a policy at any time by calling (800) 841-1587. Geico does not offer options to cancel a policy online or by mail.
If you’re thinking of canceling your policy but aren’t sure yet, you can also call this number to talk about making changes to your policy, like removing a vehicle or changing the state where your car is insured, so it works better for you.
How do I qualify for accident forgiveness?
If you have a clean driving record and have been with Geico for a while, you may receive accident forgiveness for free.
Otherwise, you’ll have to pay a monthly fee for an accident forgiveness plan. After your first accident, the monthly charges will stop.
Does Geico cover towing?
Geico will only cover towing if you have Geico’s Emergency Roadside Service coverage. If you don’t want to pay out of pocket for towing and other breakdown costs (such as jump-starting a battery), this program is perfect for you.
We hope this guide proved useful to you and that you’re now ready to make a decision about choosing Geico as a provider.
If you’re still unsure, you can start comparison shopping between companies today using our free online tool below.
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