GEICO Car Insurance Review 2024

Geico insurance companies offers various types of vehicles insurance like cars, motorcycles, classic cars, RVs, ATVs, and boats.

If you have GEICO Car Insurance, you can choose to add extra coverage like emergency roadside assistance, rental car reimbursement, and insurance for vehicle breakdowns.

If you’re going to Mexico, you’ll need to buy a separate insurance plan for your car while you’re there. Geico offers different options like daily, 6-month, and yearly policies for Mexican car insurance.

About “GEICO Car Insurance” Company

Geico started for as a car insurance company serving U.S. government employees and military personnel. The name Geico is actually an abbreviation of “Government Employees Insurance Co.” This reflects the company’s initial focus on providing insurance specifically for this group of customers.

In the midst of the Great Depression, Leo and Lillian Goodwin identified a unique opportunity. They decided to establish an auto insurance company that would cater to specific, well-defined customer groups.

In 1936, they founded the Government Employees Insurance Co. (GEICO).

Geico has expanded its customer base significantly since its early days, extending beyond the government sector. As a result, Geico has become the second-largest private passenger auto insurance company in the United States. Geico is a subsidiary of Berkshire Hathaway, and it currently provides coverage for more than 18 million auto insurance policies, protecting over 30 million vehicles all across the country.

GEICO Car Insurance Coverage

GEICO Car Insurance offers different types of coverage for your car. They have affordable options, and many people trust them for their insurance needs. Whether you want minimum coverage or extra protection, GEICO can help you find the right plan.

Geico car insurance rates for good drivers

Geico offers affordable car insurance for safe drivers. Their average rates for good drivers are much lower than the national average of $2,150 per year when we compare them to other top insurance companies.

CompanyNational average annual rates for good drivers
USAA$1,412
Geico$1,716
State Farm$1,959
Nationwide$2,041
Progressive$2,157
Farmers$2,381
Allstate$3,000

Geico car insurance rates for drivers with a speeding ticket

Geico provides best rates for drivers who have received a speeding ticket. On average, Geico’s car insurance for such drivers is approximately $500 per year less expensive than the national average of $2,633 per year.

CompanyNational average annual rates for drivers with a speeding ticket
USAA$1,709
Geico$2,098
State Farm$2,311
Nationwide$2,439
Progressive$2,793
Farmers$3,014
Allstate$3,213

Geico car insurance rates for drivers who caused an accident with injury

Geico’s auto insurance rates are usually favorable for drivers who were involved in an accident that caused injury to someone else. Their rates are lower compared to the national average of $3,074 per year. If you’ve had an accident, it’s a wise idea to compare car insurance quotes because different companies can offer significantly different rates.

CompanyNational annual average rates for drivers who caused an accident with injury
USAA$2,093
Geico$2,487
State Farm$2,554
Nationwide$3,050
Progressive$3,413
Farmers$3,446
Allstate$3,870

Geico car insurance rates for drivers with a DUI

Geico offers competitive car insurance rates for drivers with a DUI (Driving Under the Influence) conviction. The national average cost of car insurance for drivers with a DUI is $3,537 per year, and Geico’s average price is $3,451.

CompanyNational average annual cost for drivers with a DUI conviction
USAA$2,751
Progressive$2,776
State Farm$3,235
Geico$3,451
Farmers$3,517
Nationwide$3,677
Allstate$3,856

Geico car insurance rates for drivers with poor credit

Insurance companies believe that a person’s credit history can be related to their likelihood of making insurance claims in the future. This connection often results in higher insurance prices. In California, Hawaii, Massachusetts, and Michigan, insurance companies are not allowed to consider credit history when determining auto insurance rates. However, in other states, having a poor credit history can lead to even higher insurance rates than having been in a car accident.

Among the best insurance companies in 2024, Geico offers the most affordable average car insurance rates for drivers with poor credit compared to its competitors.

CompanyNational average annual rates for drivers with poor credit
Geico$2,426
USAA$2,594
Nationwide$2,771
Farmers$3,921
Allstate$4,028
Progressive$4,215
State Farm$5,051

Geico car insurance rates for adding a teen driver

It can be quite expensive to add a teenager to your car insurance policy. Parents often have to pay over $2,000 per year to add a 16-year-old driver. According to our research, the national average additional cost for adding a teen driver is $2,419 annually.

However, Geico car insurance stands out as a more affordable option for adding a teen driver. On average, it costs $460 less per year compared to the national average, with a yearly cost of $1,952.

CompanyIncrease per year for adding a 16-year-old driver
Nationwide$1,774
Geico$1,952
USAA$2,036
State Farm$2,124
Progressive$2,225
Farmers$3,780
Allstate$3,948

Geico car insurance rates for young drivers ages 18 to 25

Geico provides cheap car insurance for people aged 18 to 25 compared to the national average, saving them over $1,300 a year.

If young drivers stay on their parents’ insurance for as long as they can, they can usually get even better rates.

CompanyNational average annual rates for young drivers
USAA$2,774
Geico$3,332
State Farm$3,795
Nationwide$4,268
Farmers$5,420
Progressive$5,791
Allstate$5,999

Read | Cheap Car Insurance for Young Drivers: Tips and Top Picks

Geico car insurance rates for senior drivers age 70 and 80

If you’re a senior driver, you might find it advantageous to switch to Geico because they offer affordable rates for drivers in their 70s and 80s. The national average cost for seniors is $2,498 per year, according to our research on major insurance companies. Geico’s rates are approximately $440 less per year than this average.

CompanyNational average annual cost for senior drivers
USAA$1,674
Geico$2,057
State Farm$2,085
Nationwide$2,154
Progressive$2,481
Farmers$2,849
Allstate$3,163

Types of Discounts available in Geico Car Insurance

Geico provides a variety of discounts on their auto insurance for customers. These discounts include rewards for being accident-free, doing well in school (for students), and getting a new vehicle, among others. It’s important to note that the availability of these discounts can differ from one state to another.

Geico offers a variety of discounts to help you save on your car insurance:

  1. Anti-theft system discount: If your car has a built-in anti-theft system, you could save up to 23% on your insurance.
  2. Air bag discount: If your vehicle is equipped with airbags, you may save up to 23%.
  3. Anti-lock brakes discount: Having anti-lock brakes can earn you a 5% discount.
  4. New vehicle discount: If your car is three years old or newer, you might save up to 15% on your Geico insurance.
  5. Daytime running headlights discount: If your vehicle has daytime running lights, you could get a 3% discount.
  6. Accident-free good driver discount: Maintain an accident-free record for five years and enjoy savings of up to 22%.
  7. Defensive driving discount: Completing a defensive driving course may qualify you for an auto insurance discount.
  8. Driver’s education course discount: Young drivers who complete a driver’s education course may get a discount.
  9. Good student discount: Full-time students with a “B” average or better can save as much as 15%.
  10. Student away discount: Parents can get a discount if their student is more than 100 miles away from home without a car and doesn’t drive the car more than once a month.
  11. Military discount: Active and retired military members, as well as National Guard members, can save up to 15%.
  12. Membership and employee groups discount: Belonging to certain groups or organizations can earn you an additional discount.
  13. Multi-vehicle discount: Insure two or more cars with Geico and you could save up to 25%.
  14. Multi-policy discount: Combine your car insurance with other policies like homeowners, renters, condo, or mobile home coverage to potentially qualify for a discount.
  15. Paid in full: Paying your premium upfront in full can lead to a discount.
  16. Automatic payments (E-banking): Enrolling in automatic payments and paperless billing, even if you can’t pay in full, can get you a discount.
  17. Homeownership: If you own your primary residence, you may be eligible for a discount.

Other Insurances in Geico

Geico offers more than just home and auto insurance. They also provide other types of coverage to protect you financially in different situations:

  1. Medical Malpractice Insurance: If you work in the healthcare or wellness industry, Geico’s Insurance Agency offers medical malpractice insurance to help you in case of a lawsuit related to medical malpractice.
  2. Travel Insurance: If you’re a globetrotter who loves to travel, Geico’s Insurance Agency offers travel insurance. This type of coverage can assist with expenses resulting from issues like missed connections, flight delays, and lost luggage during your travels.
  3. Business Insurance: Geico provides business insurance, which can be essential for protecting your business from various risks and liabilities.
  4. Pet Insurance: For your furry companions, Geico offers pet insurance to help cover veterinary expenses and other costs related to your pet’s health.

Geico Car Insurance Pros and Cons

Pros

  • Good Prices: They have cheap rates for safe drivers and even if you’ve had issues like speeding tickets, bad credit, or drove without insurance.
  • Special Deals: Geico offers lower prices for older drivers and young drivers who usually pay more for insurance.
  • No Rate Hikes After Accidents: If you have an accident, your rates won’t go up the first time.
  • DriveEasy: They have a program called DriveEasy for good drivers to lower their insurance costs based on how they drive.

Cons

  1. DUI Rates: Geico’s car insurance rates for drivers with a DUI (Driving Under the Influence) are not the best or worst, just somewhere in between.
  2. Coverage Extras: If you want special features like getting a new car if yours is totaled, a deductible that gets smaller over time, or insurance for ridesharing, you’ll need to check out other insurance companies.
  3. Bundling Discount: Geico’s discount for combining your auto and home insurance is not very big, only 8%.

Customers Complaints Against Geico Car Insurance

Geico receives more complaints about their auto insurance compared to many other big insurance companies. These complaints are based on reports filed with state insurance departments all over the country. Geico’s complaints level is less higher than in the industry. Most of the complaints related to car insurance involve issues like the company denying claims, taking too long to process claims, or settling claims in a way that customers find unsatisfactory.

FAQs

What is Geico car insurance?

Geico (Government Employees Insurance Company) is an insurance company that offers a wide range of insurance products, including car insurance.

How can I get a Geico car insurance quote?

You can get a Geico car insurance quote by visiting their official website, calling their toll-free number, or contacting a local Geico agent.

What types of car insurance does Geico offer?

Geico offers several types of car insurance, including liability coverage, collision coverage, comprehensive coverage, uninsured/underinsured motorist coverage, and additional optional coverages such as rental car reimbursement and roadside assistance.

Is Geico car insurance available in all states?

Yes, Geico car insurance is available in all 50 states and the District of Columbia.

Does Geico provide 24/7 customer support?

Yes, Geico offers 24/7 customer support through their website, phone, and mobile app. You can reach a Geico representative at any time to get assistance with your policy or claims.

How to cancel Geico car insurance ?

To cancel your GEICO car insurance policy, contact their customer service either by phone or through their website. For this you have to provide your policy number and specify the cancellation date. Inquire about any applicable fees and request written confirmation of the cancellation. Additionally, check if you’re eligible for a refund if you’ve prepaid your premium.

How to renew Geico car insurance?

If you want to renew your GEICO car insurance, look out for the renewal notice they send before your current policy expires. If you have more questions then contact GEICO’s customer service for assistance during the renewal process.