MoneyGeek Logo IconBadge ribbonscore85

5/5

discounts

3.5/5

complaints

4/5

satisfaction

5/5

stability

3.8/5

affordability


pros

checkmarkCheap policies for all types of drivers
checkmarkOffers many discounts including some unique options

cons

closeDoes not offer coverage for new car replacement or better car replacement
closeAverage complaint resolution scores

Verdict

GEICO has excellent ratings when it comes to affordability, stability and discounts and has an above-average rating for user satisfaction. While its complaints score is average, the company does offer affordable auto insurance.

To learn more about GEICO and other auto insurance companies, MoneyGeek’s review of the cheapest car insurance companies and the best car insurance companies are helpful. You can also use our tool to compare GEICO against other leading insurance providers to find the best auto insurance based on what you are looking for.

Compare GEICO to other insurance companies

How Does GEICO Rank for Customer Service?

Rating agencies, including J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC), rank carriers to help determine the country’s top car insurance companies. GEICO auto insurance ranks average in most categories but high in financial strength.

Customer Satisfaction Rating

First Notice of Loss:
4/5
Estimation of Process:
4/5
Repair Process:
4/5
Claims Servicing:
4/5
Rental Experience:
5/5
Settlement:
4/5

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 1.00. That means the company got more complaints than the average insurance provider.

GEICO Auto Insurance Quotes: How Much Does it Cost?

MoneyGeek’s analysis involved gathering quotes from GEICO across 50 states to calculate the insurer’s average rates. Our research determined that GEICO’s policies are cheap for drivers of all types, with an average cost of $1,047 per year.

Our analysis included insurance costs for drivers seeking full coverage and minimum coverage policies, as well as young drivers and individuals with prior violations.

Although MoneyGeek carried out comprehensive research to give you important information about GEICO, we recommend that you perform your own research and quote comparison to find the best insurance based on your unique requirements. The best practice is to obtain personalized quotes from at least three providers to give you a better understanding of what they offer and help you get the cheapest car insurance.

Average Annual Cost of Car Insurance with GEICO versus National Average

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  • Driver Type
    GEICO Average Rate
    National Average
  • Full Coverage
    $1,047
    $1,382
  • Minimum Coverage
    $513
    $730
  • Speeding Ticket on Record
    $1,407
    $1,772
  • 18-Year-Old Driver
    $3,488
    $4,874

Is GEICO Car Insurance Expensive or Cheap? Why?

GEICO offers cheap insurance for drivers of all types. This includes individuals looking for full coverage policies, minimum coverage policies, new drivers, young drivers, seniors and those with prior driving violations. An important factor that helps keep GEICO’s insurance costs low is that the company sells policies directly on its website to reduce dealership costs.

Insurance companies generally do not reveal their calculation mechanisms. The amount you pay for your car insurance depends on factors such as your age, credit score and driving history.

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Discounts Offered by GEICO That Can Help You Save

Even though GEICO has cheap insurance for drivers from different backgrounds, you can reduce insurance costs further by using the multiple discount opportunities the company offers its policyholders.

GEICO offers discounts for installing an anti-theft system and airbags in your car, for bundling or insuring multiple cars with GEICO and for drivers with a history of safe driving. It also gives discounts to students with good grades and drivers who have completed a defensive driving course.

You can also take advantage of some of the more uncommon discounts that GEICO provides by always wearing your seatbelt, installing anti-lock brakes and having daytime running lights. GEICO also offers discounts for military members, federal employees and drivers on emergency deployment.

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The cost of car insurance is highly personalized and varies from driver to driver. Auto insurance companies weigh several factors when considering your rate, including age, driving record, address, the type of car you drive and more. The MoneyGeek calculator estimates how much you could pay for car insurance, without entering your personal information. The estimator can help you decide if it's time to switch car insurance companies or find a provider that fits your needs and budget.

Does GEICO Offer Broad or Unique Coverage?

GEICO offers standard coverages just like other leading insurers that include liability, comprehensive and collision insurance.

In addition, GEICO also has coverage for roadside assistance, rental car reimbursement and accident forgiveness. While roadside assistance pays for the cost of flat tires, towing, jump-starts and lockout services, rental car reimbursement pays for a rental vehicle if your car isn't driveable for more than 24 hours due to a covered accident.

With accident forgiveness, your insurance rate won't go up as a result of your first at-fault accident. However, GEICO does not provide new car replacement or better car replacement coverage that other leading insurance companies typically offer.

A unique coverage that GEICO offers is mechanical breakdown insurance that provides better coverage at a lower price than the typical dealer-extended warranty. It includes all parts and systems and is available for new or leased cars that are less than 15 months old and have less than 15,000 miles on them.

What Online Auto Insurance Tools Does GEICO Offer?

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 Feature
    Description
  • Online Bill Pay
    Pay bills online through the GEICO website or mobile app.
  • Online Claims
    You can initiate a claim on the mobile app and website. GEICO also allows you to track the progress of the claim.
  • Mobile App
    GEICO’s mobile app allows you to manage your insurance, access various tools and conduct certain transactions.
  • Calculators
    Calculate possible premiums on different types of insurance.

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 Product
    Description
  • Homeowners Insurance
    May 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 Insurance
    Replaces any stolen or damaged properties, covers personal liability in case of accidents and pays for living expenses.
  • Condo Insurance
    Protects personal property and the interior structure of the condo.
  • Flood Insurance
    Insures 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).
  • Rideshare Insurance
    Rideshare drivers for Lyft or Uber can purchase a policy that protects them when they have no passengers.

Financial Strength

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.

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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, the National Association of Insurance Commissioners (NAIC) and the Better Business Bureau. Learn more about MoneyGeek’s review methodology here.

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a senior content director at MoneyGeek with over five years of experience analyzing the insurance market, conducting original research and creating content that can be personalized for every buyer. He has been quoted on insurance topics in several publications, including CNBC, NBC News and Mashable.

Mark earned a master’s degree in Economics and International Relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his economics and insurance knowledge to bring transparency around financial topics and help others feel confident in their money moves.


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