WalletHub, Financial Company
@WalletHub
GEICO insurance rates are very competitive, ranking 2nd overall (behind only Progressive) in WalletHub’s 2019 Cheap Car Insurance Study. The study compared 46 major car insurance companies for a variety of driver profiles. This means GEICO’s rates tend to be lower than those charged by State Farm, Allstate, Nationwide, Travelers, and other popular auto insurers.
Individual results may vary, however. The rates GEICO quotes you are based on your driving record and experience, along with your location, credit score (in some states), vehicle age, and vehicle equipment. Your coverage and deductible choices matter, too.
GEICO tends to have relatively low rates for new drivers and those with less-than-perfect driving records. The following chart shows how GEICO ranks among 46 U.S. auto insurers in terms of monthly costs for different types of drivers. Learn more about how we obtained these sample quotes in the Methodology section of our 2019 GEICO Car Insurance Review.
Sample GEICO Car Insurance Rates:
Age |
Clean Driving Record Cost |
Rank |
Poor Driving Record |
Rank |
20-24 |
$312 / month |
5 |
$388 / month |
5 |
30-34 |
$254 / month |
15 |
$314 / month |
10 |
45-49 |
$259 / month |
22 |
$327 / month |
15 |
Those quotes don’t take into account GEICO’s various discounts. GEICO offers impressive discounts for having multiple policies and certain vehicle safety equipment, for example. But it doesn’t have “green car” or loyalty discounts, unlike some of its competitors.
At the end of the day, knowing that GEICO ranks among the cheapest major auto insurers provides a helpful starting point as you shop for auto insurance. But the best option will be the one that gives you the coverage you need, plus excellent service, at a price that fits within your budget.
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