Cheapest company - GEICO
Best customer service - GEICO
Best unique coverages - GEICO
Best for financial stability - GEICO
Best online tools - GEICO
Compare State Farm vs. GEICO to Find Out Which Is Best for You
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VS
Verdict
GEICO is cheaper for most drivers, has higher customer service ratings, and provides more unique coverages. It's also the less expensive insurance option in 35 out of 50 states. State Farm, however, is cheaper for students and drivers with tickets and driving under the influence (DUI) charges. State Farm also receives far fewer customer complaints.
GEICO auto insurance is good for drivers who value affordability and customer satisfaction.
State Farm auto insurance is good for young drivers and drivers with accidents or DUIs on their records.
Is State Farm or GEICO Cheaper Overall?
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Your rate can vary based on multiple factors but, overall, MoneyGeek’s research shows that GEICO’s average annual car insurance premium of $1,047 is cheaper than State Farm’s $1,235. Keep in mind that these numbers are based on a sample driver, so the company that offers the cheapest car insurance may be different for you. Be sure to compare quotes from both auto insurance companies since rates can vary dramatically based on your location, age and driving profile.
Is State Farm or GEICO Cheaper in Your State?
Prices can be very different at a state level than a national level, which means your rates may be higher or lower than the national average depending on insurance rates in your state. On average, GEICO is cheaper than State Farm in most states.
According to MoneyGeek’s findings, GEICO is cheaper than State Farm in 35 states, while State Farm is less expensive in 15 states. Both companies offer car insurance in all 50 states and the District of Columbia.
In the following table, you'll see the phrase "Not Available" for GEICO's annual premium in Kansas. This doesn't mean that you can't access GEICO coverage in this state. Instead, it means that our study included insufficient information for this state. If you'd like to see which company may offer you a lower quote instantly, use our car insurance calculator to estimate or get a personalized quote.
Average Cost Per State
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- StateState Farm Annual PremiumGEICO Annual Premium
- Alabama$1,235$827
- Alaska$954$882
- Arizona$1,253$770
- Arkansas$1,012$866
- California$1,526$1,270
- Colorado$1,158$872
- Connecticut$1,324$925
- District of Columbia$1,161$606
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Is State Farm or GEICO Cheaper for Your Age and Driving History?
When choosing between GEICO or State Farm, remember that multiple factors determine insurance rates. Your age, gender, driving record and credit score can all potentially influence your insurance rates. While GEICO offers lower rates for the average driver, State Farm offers more affordable premiums for some specific drivers:
- An 18-year-old student driver would find cheaper coverage with State Farm at $3,083 annually, compared to $3,164 at GEICO.
- A driver with a ticket would find more affordable coverage with GEICO at $1,265 annually, compared to $1,360 at State Farm.
- A driver with an accident would find cheaper coverage with State Farm at $1,434 annually, compared to $1,494 at GEICO.
- A driver with a DUI would find lower rates with State Farm at $2,222 annually, compared to $2,680 at GEICO.
- A driver with poor credit would have less expensive premiums with GEICO at $1,681 annually, compared to $2,531 at State Farm.
Average Car Insurance Rates by Driver Profile
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- Driver ProfileState Farm Annual PremiumGEICO Annual Premium
- 18-Year-Old Student$3,083$3,164
- Driver With a Ticket$1,360$1,265
- Driver With an Accident$1,434$1,494
- Driver With a DUI$2,222$2,680
- Driver With Poor Credit$2,531$1,681
State Farm vs. GEICO: Which Is Better for Discounts?
The number of discounts a company offers can lower your overall premium, but what matters most is your final quote. Most insurance companies' two most significant discounts are the home and auto bundle and usage-based program discounts. Based on our analysis of home and bundle discounts, State Farm offers some of the best discounts for bundling.
Unfortunately, GEICO doesn’t provide any concrete information about how much customers can save by purchasing their home and auto insurance through the same company. MoneyGeek found that consumers can save up to 25% by bundling, which is well above the 17% average savings across all insurance companies. This high discount makes State Farm the clear winner in this category.
State Farm and GEICO offer discounts for safe driving behavior as measured through their respective apps: Drive Safe and Save and DriveEasy. Again, GEICO doesn’t specify the amount drivers could save by using DriveEasy, but they warn that drivers may be charged higher rates for risky driving behavior. MoneyGeek found that drivers can save up to 50% on their premiums with State Farm’s Drive Safe and Save program, making it the clear winner for this discount, too.
Available Discount by Company
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- DiscountAvailable With State Farm?Available With GEICO?
- Safe driving✔✔
- Defensive driving✔✔
- Good student✔✔
- Driver's education✔✔
- Distant student✔
- New vehicle✔✔
- Air bag✔✔
- Anti-theft system✔✔
State Farm vs. GEICO: Which Has Better Customer Service?
MoneyGeek assesses the best car insurance providers for customer experience based on how satisfied customers are, according to J.D. Power and how often they lodge complaints tracked by the National Association of Insurance Commissioners (NAIC). According to these metrics, GEICO comes out on top for customer satisfaction rating, while State Farm wins for fewer customer complaints.
State Farm vs. GEICO: Customer Satisfaction Rating
GEICO comes out ahead on J.D. Power rankings, scoring 843 out of 1,000. State Farm isn’t Farm behind with 837, though.
First Notice of Loss:
4/5
Estimation of Process:
4/5
Repair Process:
4/5
Claims Servicing:
4/5
Rental Experience:
3/5
Settlement:
4/5
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
State Farm vs. GEICO: Customer Complaint Ratio
The NAIC customer complaint ratio is based on a median score of 1, with companies aiming for the lowest possible number. State Farm’s complaint ratio of 1.28 indicates that they receive only slightly more than the average volume of complaints. GEICO scored 2.04, meaning the company gets over double the average number of complaints.
State Farm vs. GEICO: Coverage Options
All auto insurance companies offer standard coverages such as liability insurance, comprehensive and collision insurance, uninsured motorist insurance and personal injury protection. However, some companies offer more unique coverages in addition to the standards listed above.
When it comes to extra coverage, GEICO beats out State Farm. Both companies offer rental car and travel reimbursement and roadside assistance. The only other coverage State Farm has is rideshare insurance, which ensures that aspects of your policy remain in effect when you’re working for a rideshare company like Uber or Lyft. GEICO provides two additional coverages: accident forgiveness and mechanical breakdown insurance.
Coverage Options by Company
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- CoverageAvailable With State Farm?Available With GEICO?
- Rental Car and/or Travel Reimbursement✔✔
- Roadside Assistance✔✔
- Rideshare Insurance✔
- Rental Car and/or Travel Reimbursement✔✔
- Roadside Assistance✔✔
- Mechanical Breakdown Insurance✔
- Accident Forgiveness✔
State Farm vs. GEICO: Which Is More Financially Stable?
Financial stability ratings indicate the likelihood that an insurance company can pay out claims in the future. Most large insurance companies have excellent financial stability ratings, and GEICO and State Farm are no exception. Both companies received A++ ratings from A.M Best, the highest possible rating the organization awards.
State Farm vs. GEICO: Online Tools
In a world where online access becomes increasingly important, insurance companies are working hard to create online tools to help their customers. GEICO wins in this category, as its business model is based primarily on online service, with useful tools like their coverage calculator. The company also allows you to pay your bill, review your policy and file claims online.
State Farm doesn’t have much available to their customers online. The company aims to provide a more personalized, human-centered approach by delivering customer service through their State Farm agents. However, this may be frustrating for consumers who want to manage their auto insurance policy primarily online.
Methodology
State Farm and GEICO were analyzed by MoneyGeek based on affordability, coverages, service, financial stability and online tools.
Customer satisfaction and complaints data were drawn from J.D. Power surveys and the National Association of Insurance Commissioners (NAIC). Financial strength was based on ratings from A.M. Best, an insurance credit rating agency.
The MoneyGeek team compiled data on available coverages and discounts for each insurer. Quotes were compiled from hundreds of ZIP codes across the country for a sample car insurance policy for a 40-year-old male. The policy covers:
- $100,000 on bodily injury liability insurance per person
- $300,000 on bodily injury liability insurance per accident
- $100,000 on property damage liability insurance per person
- Comprehensive and collision insurance with a $1,000 deductible
About Rachael Brennan
sources
- GEICO. "Coverage Calculator." Accessed March 15, 2021.
- GEICO. "Car Insurance Coverage: Auto Insurance Coverage Types." Accessed March 15, 2021.
- GEICO. "Car Insurance Discounts." Accessed March 15, 2021.
- GEICO. "DriveEasy." Accessed March 15, 2021.
- GEICO. "Car Insurance Discounts - Savings on Auto Insurance." Accessed October 23, 2023.
- State Farm. "Auto Insurance Discounts." Accessed March 15, 2021.
- State Farm. "Car Insurance Coverage Types." Accessed March 15, 2021.
- State Farm. "Drive Safe and Save." Accessed March 15, 2021.