Here’s a breakdown of how we reviewed and rated the top auto insurance providers
Key Takeaways
- Geico often offers affordable insurance premiums in all 50 states.
- Geico is a broker, not a direct provider, of home and life insurance policies.
- Federal employees can get a significant discount on coverage through Geico.
Our Take on Geico Insurance
Geico’s affordable rates and availability are its main draw. The company offers relatively cheap insurance to a broad demographic. However, some customer reviews are mixed. Also, before buying a policy with Geico based on its inexpensive premiums, remember the company only serves as a direct provider for auto insurance and not for home or life insurance.
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Geico Auto Insurance
Geico Industry Ratings
Our review scores throughout this article are a combination of ratings from industry organizations, customer reviews and other sources. For a more detailed look, we’ve provided scores from individual ratings sources below:
- AM Best: A++
- Better Business Bureau (BBB): A+
- National Association of Insurance Commissioners (NAIC) Complaint Index: 0.82
- Trustpilot: 1.3/5
- BBB customer rating: 1.1/5
Our MarketWatch Guides team can also give you other recommendations for the both the best car insurance companies and cheapest car insurance companies we’ve researched.
Geico Car Insurance Review
Auto insurance is where Geico does its best. The company is the third-largest auto insurer in the country for a reason. It consistently offers lower-than-average rates, is available in all 50 states and offers one of the most robust coverage portfolios in the industry. Comparing Geico to State Farm can help you see how these two major insurers differ in pricing and coverage options.
Geico Auto Insurance Coverage
Geico offers a full range of basic and optional car insurance coverages, allowing you to build a policy that suits your budget and needs.
Geico Auto Coverage Highlight: Mechanical Breakdown Insurance
Geico is one of the only auto insurers that offers mechanical breakdown insurance (MBI). This policy is similar in function to an extended car warranty, which covers the cost of repairing unexpected mechanical issues.
For example, if your transmission breaks down while driving, an MBI policy from Geico would likely cover the cost of fixing it. Some people may find it convenient to buy this coverage from their insurer instead of a third-party warranty provider.
Minimum Coverage
Minimum-coverage plans consist mainly of liability insurance coverage, which is designed to meet basic state requirements. Geico offers all the specific coverages you’re required to have depending on your state. Below is a breakdown of each basic coverage.
| Coverage | Description |
|---|---|
| Bodily injury (BI) liability | Covers medical expenses, lost wages and associated costs for other parties involved in an accident you’re found at fault for |
| Property damage (PD) liability | Covers damages to vehicles and other personal property resulting from a collision for which you are found at fault |
| Uninsured motorist/underinsured motorist (UM/UIM) liability | Covers the cost of damages when an at-fault driver lacks sufficient coverage |
| Personal injury protection (PIP) | Covers you and your party’s lost wages and medical and funeral expenses resulting from an accident, regardless of who is at fault. Required in no-fault insurance states and some at-fault states. |
| Medical payments (MedPay) | This covers medical expenses for you and your passengers, no matter who is at fault for an accident. Required in some states. |
Read more: Liability coverage
Full Coverage
We and other insurance experts recommend a full-coverage policy — one that includes protection for your own assets in addition to liability coverage — for the majority of drivers. You can also find these coverages from Geico.
| Coverage | Description |
|---|---|
| Collision coverage | Covers your vehicle and other personal property in an accident, regardless of who is at fault |
| Comprehensive coverage | Covers your vehicle from sources of damage other than an accident, such as fire, theft or severe weather |
Read more: Full-Coverage Car Insurance
Geico Car Insurance Cost
Geico’s national average rate estimate of $531 per year for minimum coverage is about 26% cheaper than the national average of $716 per year. Full coverage from Geico averages $1,980 per year, which is about 17% cheaper than the national average of $2,386 per year.
Geico Car Insurance Cost by Age
The table below shows annual Geico full-coverage rates for drivers of various ages. If you’re a military member or veteran, comparing rates with USAA may help you find even better savings.
| Age | Geico Car Insurance Cost | National Average Cost | Geico Car Insurance Cost Comparison |
|---|---|---|---|
| 16 | $5,553 | $5,682 | -2% |
| 25 | $2,141 | $2,749 | -22% |
| 35 | $1,980 | $2,386 | -17% |
| 45 | $1,899 | $2,305 | -18% |
| 55 | $1,773 | $2,143 | -17% |
Geico Car Insurance Cost by Driving Record
Below is a look at annual Geico full-coverage rates for drivers with different types of violations on their records. Allstate is another major provider worth considering, and comparing Geico with Allstate can help you determine which offers better value for your situation.
| Risk Factor | Geico Car Insurance Cost | National Average Insurance Cost | Geico Car Insurance Cost Comparison |
|---|---|---|---|
| Clean record | $1,980 | $2,386 | -17% |
| Speeding ticket | $2,752 | $2,899 | -5% |
| Recent accident | $3,338 | $3,281 | +2% |
| DUI | $3,771 | $3,417 | +10% |
Geico Car Insurance Cost by Credit Score
Credit score affects car insurance rates in most states. The table below shows annual Geico full-coverage rates for drivers with both good and poor credit scores compared to the national average.
| Credit Score | Geico Car Insurance Cost | National Average Insurance Cost | Geico Car Insurance Cost Comparison |
|---|---|---|---|
| Good | $1,980 | $2,386 | -17% |
| Poor | $2,858 | $3,520 | -19% |
Geico Car Insurance Discounts
Like most insurers, Geico offers a wide selection of discounts that can help you save money on your policy. If you’re considering other providers, learning how AAA compares to Geico may help you make an informed decision.
Geico Auto Insurance Discount Highlight: Government Employees
Geico started as the Government Employees Insurance Corporation, providing insurance to employees of the federal government. While the company is open to anyone these days, it still offers a policy discount to federal workers. For a broader perspective, you might also want to compare Liberty Mutual and Geico to see which provider better suits your needs.
Geico DriveEasy
Similar to most insurers, Geico has a telematics-based insurance option called DriveEasy that monitors your driving habits with a smartphone app and adjusts your rates according to your behavior.
According to the company, DriveEasy can save you up to 25% if you consistently avoid unsafe behaviors such as hard acceleration, emergency braking or using your phone while driving. If the app detects these high-risk behaviors, DriveEasy can cause your rates to go up.
List of Geico Car Insurance Discounts
Geico also offers many other discount opportunities that you’d find at other insurers. These include:
| Geico Car Insurance Discount | What It Covers |
|---|---|
| New car | Earn up to 15% off your policy if your vehicle is three model years old or newer. |
| Military | Save up to 15% if you’re an active or retired member of the military. |
| Federal employee | Get up to 12% off your car insurance premium if you’re a federal employee. |
| Restraint device | Earn up to 23% off medical payments (MedPay) or personal injury protection (PIP) coverage if your car has safety features like airbags and seatbelts.. |
| Anti-lock brakes | Get a 5% discount on certain car insurance coverages if you have an anti-lock braking system. |
| Anti-theft system | Save up to 23% on comprehensive car insurance if you have an anti-theft system installed. |
| Daytime running lights | Earn a 3% discount on certain car insurance coverages if your vehicle is equipped with daytime running lights. |
Read more: Car insurance discounts
Geico Home Insurance Review
Geico is not nearly as established in the home insurance market as it is in the auto insurance industry. That is, in part, because the company doesn’t underwrite its own homeowners and renters insurance policies, and instead serves as a broker. Other companies, often Geico subsidiaries, serve as the actual underwriters for these policies. If you’re exploring alternatives, checking out providers like Lemonade home insurance may offer a more streamlined digital experience.
This adds some complexity for those looking to bundle policies. You can still combine your homeowners policy and your auto policy, along with many of Geico’s other insurance products. However, you’ll have to manage your homeowners insurance and file claims with the actual underwriter, rather than Geico.
Geico Homeowners Insurance Coverage
Because your homeowners insurance policy comes from a third-party provider, the coverages available to you will vary. However, there is a great deal of overlap in these coverage selections. The table below shows the coverage options you’re likely to find through Geico as a broker.
| Geico Home Insurance Coverage | Description |
|---|---|
| Property damage (also referred to as dwelling coverage) | Covers damage to your house and any permanent structures on your property from fire, wind, hail and water. |
| Personal property | Covers belongings that were damaged or stolen such as furniture, appliances and clothing. |
| Jewelry | Limited insurance coverage is available for jewelry stolen from your home. You may need special coverage for items like engagement rings, wedding bands or diamond bracelets. |
| Personal liability | Covers medical expenses or property damage to others caused by you or members of your household. It can also pay for legal costs in the case of a lawsuit. |
| Medical bills | Covers medical payments for minor injuries to others who get hurt on your property. |
| Additional expenses | Covers extra costs you might have to pay when experiencing a covered loss. |
Additional Geico Homeowners Coverage Options
Similar to auto insurance, Geico offers a few specialty add-on options for homeowners policies. These coverages can help take care of some of the indirect costs that come with homeowners insurance losses.
| Homeowners Additional Coverage Option | Description |
|---|---|
| Identity theft protection | Covers costs if critical pieces of your personal information are stolen, such as your Social Security number or credit card information. |
| Scheduled personal property coverage | Most standard policies limit coverage for special pieces of personal property such as musical instruments, jewelry, fine art, furs, antiques and firearms. |
| Water backup | Covers other types of water damage beyond standard conditions, including damage from water trapped in your home due to a clogged drain, seeping groundwater or backed up sewage and sump pumps. |
| HOA loss assessment | Homes belonging to a homeowners association, or HOA, are responsible for a portion of damages or losses in common areas. An HOA loss assessment endorsement can protect homeowners against paying those costs out of pocket. |
| Replacement cost coverage | Replacement cost value, or RCV, replaces 100% of the product’s original value, unlike standard actual cash value (ACV) coverage that comes with most policies. This coverage typically results in a larger sum paid out in the event of an insurance claim. |
Geico Homeowners Insurance Cost
The cost of homeowners insurance can vary tremendously based on the size and value of your home, your location and other factors. The table below shows the national average estimates for different levels of dwelling coverage, all based on a policy with a $1,000 deductible.
| Homeowners Insurance Dwelling Coverage | National Average Estimate |
|---|---|
| $250,000 | $2,148 |
| $350,000 | $2,728 |
| $450,000 | $3,333 |
| $750,000 | $5,156 |
Geico Homeowners Insurance Sample Quotes
With so many variables at play, comparing costs is difficult without getting actual quotes. To give you a better idea of what you might pay for Geico homeowners insurance, we included a few real quotes from our secret shopper study in the table below.
| Location | Home Square Footage | Monthly Cost | Total Cost Per Year |
|---|---|---|---|
| McKinleyville, Calif. | 1,344 square feet | $95 | $1,143 |
| Charlotte, N.C. | 1,595 square feet | $87 | $1,055 |
| Marlton, N.J. | 1,706 square feet | $88 | $1,064 |
| Schertz, Texas | 2,346 square feet | $118 | $1,418 |
| Richmond, Va. | 2,112 square feet | $87 | $1,044 |
Geico Renters Insurance Coverage
If you aren’t a homeowner, you can still get coverage for your home and belongings through Geico’s renters insurance. Again, Geico acts as a broker for these policies and does not underwrite them directly.
Renters insurance policies offer similar coverage to homeowners policies with the major exception of not covering the actual structure of your home. The table below shows common renters insurance coverages you can purchase.
| Renters Insurance Coverage | Description |
|---|---|
| Personal property | Covers the replacement cost of personal belongings damaged in a covered loss. Coverage includes fire, theft, vandalism and sudden water damage (not from flooding). |
| Personal liability | Covers medical expenses or property repair or replacements costs if another party suffers an injury or loss while at your residence. |
| Loss of use | Covers expenses stemming from not being able to use your home following a loss, such as a hotel stay if your home is rendered uninhabitable. Sometimes referred to as additional living expenses coverage. |
| Disaster | Covers damages from natural disasters such as earthquakes, which aren’t covered under standard renters insurance policies. |
| Identity theft | Covers costs related to having your identity stolen, such as replacing government-issued ID cards. |
Geico Home Insurance Discounts
You can also get discounts on your homeowners and renters policy from Geico. The actual selection of discounts available to you varies depending on the underwriter that services your policy, but we’ve listed some of the most consistently-offered discounts in the table below.
| Geico Homeowners Insurance Discount | Description |
|---|---|
| Multi-policy discount | Even though Geico doesn’t underwrite its own homeowners policies, you can still save by bundling your homeowners insurance with your Geico car insurance |
| Home security systems | Homes with an alarm system are eligible for lowered rates. |
| Fire safety features | Smoke detectors and fire extinguishers can garner homeowners a discount for a safer home. |
| Military discount | Geico offers discounts for active and retired military members. |
| Federal employee discount | Employees of the federal government can get a discount on their homeowners insurance through Geico. |
Read more: Ways To Save On Home Insurance
Geico Life Insurance Review
In addition to auto and home coverage, Geico offers life insurance that you can bundle into your policy. But just as it does with home insurance, Geico merely acts as a broker for life insurance, matching customers with a third-party underwriter.
Geico Life Insurance Coverage
Life insurance policies pay a lump sum figure to a person or people the policyholder designates as a beneficiary. There are three main types of life insurance policies, which you’ll find explained in the table below.
| Life Insurance Coverage | Description |
|---|---|
| Term life | Covers a policyholder for a specific period of time, replacing lost income and other expenses stemming from an unexpected death. Policy terms are usually for 10, 15, 25 or 30 years. |
| Whole life | Covers a policyholder for the duration of their life, rather than a predetermined term. The most common type of permanent life insurance. |
| Universal life | Covers a policyholder for the duration of their life, but allows the policyholder to make adjustments such as pausing payments or changing the premium. |
Other Geico Insurance Products
Auto, home and life insurance aren’t the only policies you can buy and bundle from Geico. The company also offers a wide range of other types of insurance.
| Geico Insurance Product | Description |
|---|---|
| Pet insurance | Covers the cost of medical care for your pet similar to health insurance for a human. |
| Travel insurance | Covers expenses that arise when travel plans are changed or canceled due to illness or injury, such as food, alternate travel and accommodation. |
| Boat insurance | Provides similar coverage to car insurance, but for your boat. |
| Flood insurance | Covers losses from flooding, which standard homeowners and renters insurance policies almost never do. |
| Overseas insurance | Covers your car and other personal property while you are abroad. |
| Business insurance | Protects your business against liability claims and other lawsuits. |
| Identity protection | Available with homeowners and renters insurance but can be purchased as a standalone insurance product that protects your assets and covers expenses if your identity is stolen. |
| Umbrella insurance | A kind of “catchall” insurance product that provides coverage against a wide range of scenarios not covered under other policies, including injuries, property damage, certain lawsuits and personal liability situations. |
Geico Insurance Reviews: FAQ
Based on our insurance rate data, Geico tends to have cheaper rates for most drivers than Progressive. However, Progressive is often cheaper for drivers in high-risk categories, such as those with a DUI, speeding ticket or accident on their record. Progressive insurance review provides more details on that company’s offerings. Both companies scored similarly in our auto insurance study in most other categories.
Geico can be difficult to deal with at times, based on our research. Customer reviews for Geico frequently mention challenges communicating with the company and difficulties dealing with claims. Some reviews do mention good experiences with individual agents.
Geico has cheaper rates than many providers because it sells coverage directly to customers without an intermediary. The company also keeps its overhead lower than many providers by limiting its physical offices and in-person agents. Geico also offers many discounts that help bring the cost of its coverage down.
Geico has relatively low customer satisfaction ratings in online review portals. It currently has scores of 1.3 or fewer stars out of 5 from customers on both the BBB and Trustpilot. In official studies such as the J.D. Power Auto Insurance study, Geico’s performance varies widely depending on the region.
How We Rated the Best Home and Auto Insurance Providers
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best auto and home insurance companies. We collected data on dozens of insurance providers to grade the companies on a wide range of ranking factors. Learn more about how we rate insurance providers in each industry below:
- Auto Insurance: Our team has analyzed more than 130 auto insurers based on their industry standing, availability, coverage, cost and discounts, customer service and technology. We evaluate both national and regional insurers to determine the most reputable options on the market. Learn more about our auto insurance methodology.
- Home Insurance: We assessed dozens of home insurance providers and created a scoring system to compare each company’s quality and service. We took a comprehensive look at insurers’ reputations in the industry, coverage offerings, average costs and customer service. See our rating process in more detail in our home insurance rating methodology.
*Data accurate at time of publication.
