GEICO Home Insurance Review: Service, Cost, & More (2022)

Using data on user satisfaction, customer complaints and financial stability, MoneyGeek has scored GEICO homeowners insurance an overall rating of 92 out of 100. This insurer earned a perfect score on financial stability and a near-perfect mark on affordability but needs to improve its customer service satisfaction rating.

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Last Updated: 10/25/2022
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4/5

satisfaction

5/5

affordability

5/5

stability


pros

This is an iconExcellent financial stability rating
This is an iconHighly affordable
This is an iconHas unique endorsements for floods and earthquakes

cons

This is an iconCustomer satisfaction rating needs improvement
This is an iconHas very few options for coverages and discounts
This is an iconHas almost twice the number of complaints compared to the average insurance provider

Verdict

MoneyGeek gives GEICO a total rating of 92 out of 100 for its affordability and financial stability. We also found that customer service tends to be this insurer’s weakest spot.

GEICO offers less than the industry’s average number of coverages and discounts. But it makes up for this shortfall by providing unique add-on coverages for flood and earthquake damages. It offers three discounts, all of which are commonly offered by other insurers.

Does GEICO Have Good Customer Service?

GEICO earned an overall MoneyGeek score of 92 out of 100 based on our unique internal scoring system that factors in the company’s financial stability, affordability and customer satisfaction. Although GEICO received excellent marks for its financial strength and affordability, customers may recieve better customer service from other insurers.

Customer Satisfaction Rating

Price should not be your only consideration when looking for a homeowners insurance company. Quality customer service should also be a priority because this will impact how quickly your claims are processed.

GEICO earned a J.D. Power score of 3.77 out of 5, which is average compared to other insurance providers. If you value great service quality, this company might not meet your expectations.

Customer Complaint Index

GEICO

In addition to J.D. Power score, MoneyGeek also examined GEICO’s customer complaint index score as provided by the National Association of Insurance Commissioners (NAIC). GEICO has a complaint index of 1.62, meaning it received almost twice the number of complaints compared to the average insurance provider.

Financial Stability Rating

GEICO received an A++ rating from AM Best. This means that this insurer is in a great position to meet its ongoing financial obligations to its customers and stakeholders.

What to Expect From GEICO Homeowners Insurance

MoneyGeek has simplified the process of purchasing a GEICO homeowners insurance by providing an overview of what you can expect every step of the way. Review our guide to learn about the requirements and procedure.

1

Getting a quote

MoneyGeek has already done the hard work for you by collecting quotes for GEICO which you can check below. Alternatively, you can get a personalized quote from GEICO’s website and customer hotline at (800) 841-2964.

2

Customer support

The fastest way to contact GEICO is via its app or online through live chat. Their customer support hotline (800) 841-2964 is also available with the following schedule:

  • Florida: Monday to Friday from 8 a.m. to 9 p.m. ET
  • Hawaii: Monday to Friday from 7:30 a.m. to 5 p.m. HST
  • All other states: Monday to Friday from 7 to 1 a.m. ET and Saturday to Sunday from 8 a.m to 10:30 p.m. ET
3

Filing a claim

GEICO has multiple platforms that you can choose from when filing claims, including their mobile app and website. You can also use the same channels to track a claim’s progress.

4

Canceling your policy

To cancel your GEICO homeowners insurance policy, have your account details ready and call their customer support hotline at (800) 841-2964.

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FILING A HOMEOWNERS INSURANCE CLAIM WITH GEICO

GEICO homeowners insurance policyholders can file a claim on multiple platforms, including the insurer’s mobile app and website, both of which are available 24/7. You may also speak directly with a homeowners insurance agent by calling (800) 841-2964 during business hours.

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STATE AVAILABILITY

GEICO’s homeowners insurance products are widely available across the country in all 50 states, as well as in Washington, D.C.

How Much Does GEICO Homeowners Insurance Cost?

The average cost of a homeowners insurance policy with GEICO for $250,000 in dwelling coverage is $1,067 per year. This is significantly less than the national average annual cost for homeowners insurance of $1,979.

To reduce the cost of your insurance even more, GEICO offers discounts for bundling multiple insurance policies and having protective devices like burglar alarms, fire alarms and sprinkler systems installed.

Your actual cost can vary depending on your home’s location, age, construction type and other factors. To find out how much a GEICO homeowners insurance policy will cost based on your needs, you’ll need to speak with an agent.

  • Dwelling Coverage
    Annual Premium
  • $250,000

    $1,067

  • $500,000

    $1,651

  • $750,000

    $2,060

  • $1,000,000

    $1,715

The exact cost of a GEICO homeowners insurance policy is determined by several factors, including your home’s location, dwelling coverage, personal coverage and deductible amounts.

Although a $250,000 dwelling coverage serves as a good starting point, we highly recommend that you get an accurate assessment of the value of your home to find out how much home insurance you really need.

MoneyGeek’s home insurance calculator below provides an estimate of your premium based on your chosen coverage limit.

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Home Insurance Calculator

State

Alabama

Dwelling Coverage

$100,000

Deductible

$500

Liability

$300,000

Personal Property

$20,000

Credit Score

Excellent
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low end

on average

high end

These are annual estimates. Get a personalized quote to determine your costs.

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MONEYGEEK EXPERT TIP

Although choosing a lower coverage limit and a smaller deductible may help you save on premiums, it can leave you in a financial bind if you need to rebuild your home due to damages caused by a covered peril. With lower limits, you will end up paying more out-of-pocket expenses.

What Discounts Does GEICO Offer?

GEICO offers three discounts, all of which are commonly offered by other insurance companies, to its homeowners insurance policyholders. This is much lower than the industry average of seven discounts.

  • Discount
    Description
  • Bundling discount

    Get a discount on your car insurance when you bundle your homeowners and car insurance with GEICO.

  • Protective device discount

    You’ll get a protective device discount if you have a burglar and fire alarm system or an automatic sprinkler installed in your home.

  • Affinity discount

    You may be eligible for a discount of up to 15% on your total insurance premium if you are on active military duty, retired from the Military or a member of the National Guard or Reserves.

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MONEYGEEK EXPERT TIP

With GEICO, you can get a multipolicy discount when you bundle your home and auto insurance. Bundling your insurance policies can help you save time and money.

Which Coverage Types Does GEICO Offer?

On top of the standard dwelling, personal property and liability coverages, GEICO also provides three optional coverages. Although this number is lower than the industry average of five, it includes unique add-on coverages for flood and earthquake damages. These endorsements are worth purchasing especially if you live in an area that is prone to natural disasters.

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AVAILABLE COVERAGE LIMITS

Your coverage limits are typically calculated based on the information that you’ve provided to your insurer. Although insurers do not provide a list of coverage limits for you to choose from, knowing how coverage limits impact your premiums can help you decide if a GEICO homeowners insurance fits your budget and lets you plan ahead.

Based on MoneyGeek’s extensive research, we’ve found the average costs of GEICO’s home insurance for the following coverage limits:

  • $250,000: $1,067 per year
  • $500,000: $1,651 per year
  • $750,000: $2,060 per year
  • $1,000,000: $1,715 per year
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MONEYGEEK EXPERT TIP

You can review GEICO’s available endorsements by going over the table below.

1

Scheduled personal property

This covers the cost of your valuable items like jewelry, furs, fine art and more. GEICO’s optional scheduled personal property coverage provides limited coverage for any jewelry that is stolen from your home, with limits from $500 up to $2,000. But you may need to add special coverage for specific items in your collection, such as engagement rings, wedding bands and diamond bracelets.

2

Flood

This is a separate policy that covers your property against flood damage.

3

Earthquake

It is worth getting this separate policy if you live in an earthquake-prone area since it covers your home against earthquake-related damages.

It is important to determine the amount of insurance you need when you’re shopping for homeowners insurance. This way, you can ensure that your chosen policy includes standard coverages as well as any additional coverages that will guarantee adequate protection of your hard-earned assets.

For instance, if you live in an area that is prone to flooding or at a high risk of damage from earthquakes, it is worth buying a separate policy to cover these risks. Most policies don’t automatically include flood and earthquake coverages, but GEICO offers both types of coverage.

MoneyGeek advises that you make sure that your policy has the following standard coverages.

What Online Homeowners Insurance Tools Does GEICO Offer?

GEICO provides various online tools to help you access information about its homeowners insurance products and services. These tools make it easier for would-be customers to do their research on homeowners insurance and for existing customers to manage their policies and make payments.

GEICO’s mobile app, online account management and online claims are available only to policy owners, but its non-owners can also use its online price quotes.

The table below summarizes these features for you.

Other GEICO Insurance Products

GEICO has a variety of insurance products that you can explore in addition to its homeowners insurance. If you choose to insure your other assets, we suggest that you take full advantage of multipolicy and bundling discounts to save on costs. Consolidating your insurance policies by using only one insurer also makes managing your finances easier.

  • Type of Product
    Description
  • Auto insurance

    GEICO’s auto insurance features cheap policies for drivers of all backgrounds. It also offers a unique add-on coverage which is mechanical breakdown assistance, as well as many discount options.

  • Business insurance

    GEICO has five business insurance products:

    • General liability insurance
    • Business owners policy
    • Professional liability insurance
    • Workers’ compensation insurance
    • Medical malpractice insurance
  • Commercial auto insurance

    This provides adequate protection for larger commercial vehicles and the employees operating them. Regular cars and automobiles may also require a commercial auto insurance policy if these are used for business purposes.

  • Travel insurance

    Your GEICO travel insurance will pay covered expenses for trip cancellations, sickness or injury and trip interruptions due to delayed, damaged or lost luggage. It may also cover costs that are related to flight delays and cancellations or missed connections.

  • Jewelry insurance

    GEICO’s specialized jewelry insurance policy protects your property against loss that may not be covered by warranties or standard homeowners insurance policies.

  • Pet insurance

    This helps shoulder the cost of veterinary bills. GEICO also has a Wellness Rewards optional add-on to cover routine care.

  • Medical malpractice insurance

    Protects people who work in the healthcare and wellness industries against claims of injury and medical negligence.

Methodology

To evaluate GEICO as a homeowners insurance company, MoneyGeek analyzed the GEICO website, manually collected quotes and consulted consumer intelligence organizations such as J.D. Power, the NAIC and AM Best.

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.


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