GEICO car insurance offers competitive rates, various coverage options and possible discounts. The carrier has high financial strength ratings, which means it’s more likely to pay out legitimate claims. If this is your highest priority, GEICO might be the right auto insurance provider for you. However, keep in mind that the company charges higher rates to high-risk drivers, specifically those who have an accident on record.
Auto Insurance Review: GEICO
GEICO is one of the most popular insurance carriers in the United States. Its affordable car insurance rates, user-friendly tools, and excellent financial strength make it a compelling option. While the company may offer discounts, high-risk drivers may also have higher premiums. If you have an accident on your driving record, you may want to shop around and compare quotes to find a more affordable car insurance policy.
How Does GEICO Auto Insurance Rate?
Rating agencies, including J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC), rank carriers to help determine the country’s best car insurance companies. GEICO auto insurance ranks average in most categories but high in financial strength.
Customer Satisfaction Rating
According to data provided by J.D. Power, GEICO receives a customer satisfaction score of 843 out of 1,000. The industry average is 835, so GEICO's reputation in this area is slightly better than a typical competitor. J.D. Power's data also informed these star ratings, scoring GEICO's performance in several specific categories.
Customer Complaint Ratio
Another way to measure the customer satisfaction of an insurance provider is to check its NAIC score. Based on its NAIC complaint index report, GEICO rated 2.04. That is over double the national median, which is 1. That means the company got more complaints than the average insurance provider.
AM Best rates auto insurance companies based on financial strength. GEICO has A++ results, which means it is excellent in terms of financial stability. High financial stability ratings indicate the company is more likely to meet its ongoing insurance obligations and cover legitimate claims. It is important to note that this rating is not a warranty, though.
GEICO Insurance Features
GEICO’s ability to provide convenient online solutions is what sets it apart from many competitors. These include a mobile app, online calculator, online bill payment and online filing of claims.
- Type of FeatureDescription
- CalculatorsCalculate possible premiums on different types of insurance.
- Online Bill PayPay bills online through the GEICO website or mobile app.
- Online ClaimsYou can initiate a claim on the mobile app and website. GEICO also allows you to track the progress of the claim.
- Mobile AppGEICO’s mobile app allows you to manage your insurance, access various tools and conduct certain transactions.
GEICO Auto Coverage
In most cases, GEICO auto insurance has competitive rates that apply to all types of coverage. A driver can purchase a standard policy for basic protection or buy a liability insurance or full coverage plan that provides additional coverage. Make sure you understand what each plan covers, so you know you’re getting everything you need.
- Type of CoverageDescription
- CollisionCovers expenses related to car damage caused by a collision or rollover, no matter who is at fault.
- UninsuredProtects you from financial burden in case the at-fault driver has inadequate or no insurance. This coverage also applies to hit-and-runs.
- LiabilityCovers bodily injuries and property damage. This coverage is most helpful when you are the one at fault in an accident with another driver.
Optional Insurance Features and Coverage
Part of the way GEICO allows customization of insurance policies is through optional features. You can choose to include only those applicable to your situation and needs.
- Type of OptionDescription
- Rental ReimbursementPays for the cost of a rental car while your vehicle is under repairs after a covered claim.
- Roadside AssistanceCovers vehicle breakdowns, including jump starts, spare tire installation, repair shop towing and lockout services.
- Accident ForgivenessGEICO reviews a policyholder’s record after carrying a GEICO auto insurance for two years. If qualified, you will have protection against premium rate increase after an at-fault accident.
- Auto Glass RepairWaives deductibles for comprehensive claims involving glass repair, including the windshield.
- Gap CoverageHelps recover the difference between what a policyholder owes and the amount they will receive from their carrier after a total loss.
Available Discounts on GEICO Car Insurance Coverage
GEICO offers a wide range of saving opportunities for policyholders. Depending on your circumstances and characteristics as a driver, you may qualify for discounts.
- Type of DiscountDescription
- Safe DriverKeeping your driving record clean can score you significant savings.
- Defensive DriverGEICO offers discounts for policyholders who complete a defensive driving course in some states.
- Driver TrainingIn some areas, GEICO gives discounts for young drivers who complete a driver’s training program.
- Good StudentHigh school and college students who have a B average or higher can receive savings on their premiums.
- New VehicleOwning a car at least three model years old may qualify you for lower premiums.
Other GEICO Insurance Products
GEICO does not only offer auto insurance. They also carry other insurance options, including homeowners, renters and business insurance. If you plan on purchasing more than one policy, consider bundling them with your auto insurance to qualify for savings on your premiums across the board.
- Type of ProductDescription
- Homeowners InsuranceMay include property damage, personal belongings, jewelry or other valuables, dwelling, personal liability, medical expenses and other additional expenses in case of loss of use. Underwriting partners offer this coverage.
- Renters InsuranceReplaces any stolen or damaged properties, covers personal liability in case of accidents and pays for living expenses.
- Umbrella InsuranceGEICO auto insurance policyholders or those with homeowners insurance from any carrier can buy an umbrella insurance policy. This policy supplements existing insurance policies by providing liability coverage with a higher limit.
- Condo InsuranceProtects personal property and the interior structure of the condo.
- Flood InsuranceInsures your home against water damage, which is crucial if you live in a flood-prone area.GEICO offers flood insurance in compliance with the National Flood Insurance Program (NFIP).
How to Make a Car Insurance Claim With GEICO
GEICO allows policyholders to file a claim online through its website. Those who are more comfortable with the mobile app can also submit a claim there. Another option is to call the customer service number of the company. To keep track of the status of the claim, check the Claims Express section online or through the mobile app.
Contact GEICO Car Insurance
Methodology and Assumptions
To evaluate and review auto insurance companies, MoneyGeek carefully weighs factors such as price, financial strength, policy features, customer satisfaction, service and other leading indicators. MoneyGeek also references publicly available data from industry leaders such as J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC) and the Better Business Bureau. Learn more about MoneyGeek’s review methodology here.
About the Author
- AM Best. "GEICO Advantage Insurance Company Financial Strength Rating." Accessed January 19, 2021.
- J.D. Power. "2019 U.S. Auto Claims Satisfaction Study." Accessed January 19, 2021.
- The National Association of Insurance Commissioners. "GEICO Advantage Ins Co National Complaint Index Report." Accessed January 19, 2021.