GEICO auto insurance review 2021

Geico, or Government Employees Insurance Co., was founded in 1936. Headquartered in Chevy Chase, Maryland, Geico is that the second largest private-passenger auto insurer within the country. an outsized percentage of drivers — including military members, students, and seniors — may find that the big variety of auto insurance offerings makes Geico the perfect choice for a provider.

GEICO Quickpoints

• Average full coverage premium: $1,260
• Region offered: Geico currently offers auto insurance altogether 50 states.
• Market share: 13.78%
• AM Best rating/financial strength profile: A++
• J.D. Power auto claims satisfaction rating: 3/5
• Specialty coverages: Rideshare, collector, Mexico

GEICO customer satisfaction and complaints

According to J.D. Power Auto Claims Satisfaction Study, Geico received a rating of 3/5, which may be a score that's considered about average among other providers. When it involves large insurers offering a satisfying purchasing experience, Geico is ranked favorite . Nationwide and State Farm rank second and third respectively.

The study uses information regarding auto insurance shopping, including the quoting process and buy behavior. Ratings function a mirrored image over overall insurance purchasing satisfaction, which is vital for drivers trying to find an excellent auto insurance provider.

How factors affect GEICO’s auto insurance rates

Geico’s full coverage comes in at $1,260, an honest bit but the national average of $1,555, while the minimum coverage is $416. The table below provides an example of how various factors can affect average insurance premiums. The rates listed during this table reflect full coverage, for the sake of comparison.

How driving record affects GEICO automobile insurance rates

With Geico, like all insurance companies, your driving record affects your automobile insurance rates. Actuaries use statistical data to assess a driver’s risk. counting on the driver’s level of risk, Geico can charge a particular premium. for instance , a high risk driver will likely be charged a better premium because the chances of them having an accident are going to be high.

Accidents

Accidents affect automobile insurance rates because this information is employed to work out the likelihood of you stepping into an accident again. Drivers with a pattern of accidents can expect to pay a better premium than someone with no accidents on their driving record. When reviewing driving records, Geico will consider at-fault and not at-fault accidents as recent as 5 years.

Geico does offer Accident Forgiveness, which allows drivers to avoid a rise in automobile insurance rates following their first at-fault accident. Geico offers this to drivers who maintain an honest driving record, but it also can be purchased if certain qualifications are met.

Speeding ticket

A ticket is another factor which will affect your automobile insurance rate. Speed can often contribute to accidents, so getting a ticket makes drivers appear reckless. And a reckless driver may be a risk for insurance companies. Geico will consider speeding tickets when determining rates, but the web site doesn't confirm how far back to a person’s driving record they're going to look.

Poor credit

Rather than check out your financial credit score, Geico looks at your credit-based insurance score, which provides information which will be wont to predict the likelihood of you filing a claim. This number is calculated employing a combination of data , including your payment history, credit utilization, collections and length of credit history. Someone with poor credit, won’t be denied, but they will expect a better rate than someone with fair, good, or excellent credit. altogether states except California, Massachusetts and Hawaii, credit will affect insurance rates.

GEICO auto insurance discounts

In addition to competitive rates, Geico offers auto insurance customers a spread of discounts.

• Military and Federal Discounts: Discounts of up to 25% are available to active and retired federal employees also as active or retired military members or members of the National Guard .
• Multi-Policy Discounts: Customers with multiple Geico policies can save on each policy.
• Multi-Vehicle Discounts: If you insure quite one car, you'll receive a reduction of up to 25%
• Seniors and Over 50 Discounts: Seniors age 50 and up are eligible to receive a reduction on their insurance rate.
• Student Discounts: Full-time students between 16 and 24 years old with a minimum of a “B” average can save to fifteen on certain coverages
• Vehicle equipment: save to 40% for various vehicle equipment.

Unique discounts offered by GEICO

Membership discount

Customers who are a part of certain professional and alumni groups and organizations also are eligible to receive a reduction . Exact savings may vary by group or organization.

GEICO auto premium length

Geico auto insurance offers semi-annual premiums, meaning policies expire every 6 months. Customers have the choices to pay the complete premium in one payment or pay in 2,3,4,5, or 6 installments. When opting to pay in installments, customers are going to be charged a particular amount monthly counting on the amount of installments. Customers should note that there'll be installment charges added to every payment.

GEICO vs. other insurance companies

Geico ranked number four within the J.D. Power Auto Claims Satisfaction Study, which compared large-size auto insurance providers.

GEICO mobile app and digital experience

Geico’s mobile app makes it easy to manage your auto insurance right from your phone.

• Digital insurance cards: Quickly and simply access your insurance cards using the app rather than keeping a paper cop in your vehicle.
• Roadside assistance: Request roadside assistance in as little as two minutes. Service is out there 24/7.
• Photo estimate: Following a collision, customers can submit photos of their damaged vehicle for a fast estimate and obtain leads to about 20 minutes.
• Virtual assistant: Customers with questions on things like billing or coverage can ask the virtual assistant. Service is out there 24/7.
• Vehicle care: Customers eager to manage their vehicle care can view CARFAX, keep track of maintenance, check open recalls, and more.

Alternative insurance products offered by GEICO

In addition to auto insurance, Geico also offers insurance for home, renters and life assurance . Discounts are available for bundling these policies together with your auto insurance also .

In the spotlight

• Geico has been ranked favorite by J.D. Power for its purchasing experience.
• Geico offers a spread of discounts which will help policyholders save significantly on their insurance rates.
• With the mobile app, policyholders can manage their account, file a claim, and more right from their phone.
• In the community, Geico supports multiple causes, including environmental safety and pollution and compassionate healthcare.

Methodology:

Coverage Utilizes Quadrant Information Services to research quoted rates from thousands of zip codes across all 50 states, using GEICO’s premiums written. Quoted rates are based round the profiles of a 30 year male and feminine with clean driving records, good credit and therefore the following full coverage details:

• $100k bodily injury liability per person
• $300k bodily injury liability coverage per crash
• $100k property damage liability coverage per crash
• $500 collision coverage deductible
• $500 comprehensive coverage deductible

Minimum coverages were applied to match state requirements. Both drivers used a replacement , financed 2018 Toyota Camry, commuting 5 days every week and driving 12,000 miles per annum .

An accident was defined as an at-fault accident with $3k in property damage. A speeding incident was defined as speeding 16-20 MPH over the limit.

These rates were publicly sourced from insurer filings and will be used for comparative purposes only – your own quotes could also be different.