THE VERDICT
Geico is better than State Farm overall. Geico beats State Farm in terms of discounts offered, customer reviews, and cost, but the two companies are evenly matched in regards to geographical coverage and State Farm has a better-rated claims service.
The average cost of a Geico policy in California is $66 per month, while the average cost of a State Farm policy is $86 per month. State Farm and Geico are evenly matched when it comes to types of insurance options available, however.
Compare Geico vs. State Farm
- Types of Insurance: Geico beats State Farm
- Cost: Geico beats State Farm
- Discounts: Geico beats State Farm
- NAIC Rating: State Farm beats Geico
- J.D. Power Rating: State Farm and Geico are evenly matched
- Market Share: State Farm beats Geico
Learn More About How Geico and State Farm Compare
State Farm and Geico got the same rating from J.D. Power. However, Geico scores higher when it comes to consumer reviews on WalletHub, while State Farm has a better rating from the National Association of Insurance Commissioners (NAIC).
Both companies have received more complaints than average, according to the NAIC. Complaints about Geico’s service generally revolve around a slow claims-handling process, while State Farm’s complaints are largely about unsatisfactory settlement offers and delayed payments.
In terms of financial strength and claims-paying ability, both companies are in good standing with leading credit rating agencies like AM Best, S&P, and Moody’s Investors Service.
Ultimately, State Farm is more successful than Geico in attracting customers, as State Farm was the
largest personal auto insurance provider in the U.S. in 2021, having captured 16% of the premiums sold that year, according to the Insurance Information Institute. Geico ranked second, having written 14.4% of private-passenger car insurance policies in the country. To learn more about what sets these two insurance providers apart, check out WalletHub’s full
Geico review and
State Farm review.
Geico vs. State Farm: Customer Satisfaction Ratings
Source |
Geico |
State Farm |
NAIC Complaint Index |
1.23 |
1.18 |
J.D. Power Rating (Customer Satisfaction) |
4.2/5 |
4.2/5 |
J.D. Power Rating (Claim Satisfaction) |
4.4/5 |
4.4/5 |
WalletHub Editor's Rating |
4.4/5 |
4.1/5 |
WalletHub User's Rating |
2.4/5 |
3.3/5 |
The NAIC Complaint Index is calculated by dividing a company’s number of complaints by its share of market premiums. The average is always 1.00, and both Geico and State Farm exceed that benchmark.