2020 Geico Car Insurance Review
Geico is one of the best insurance companies overall, earning a rating of 4/5 from WalletHub, solid customer reviews, and A+ scores from organizations such as the Better Business Bureau. Geico, which stands for Government Employees Insurance Company, is best known for providing affordable car insurance coverage. But you don’t have to work for the government to get Geico insurance, and you can cover much more than your car. Geico also offers homeowners insurance, renters insurance, boat insurance, jewelry insurance, and several other types of policies.
In the sections below, you can learn more about Geico’s insurance offerings, how they compare to policies from top competitors, and where they’re lacking. For instance, you can find out why Geico, despite all of its great features, does have some room for improvement in the customer service and claims departments.
Geico Reviews & Ratings
- Reviews on WalletHub: 3/5
- JD Power: 3.4/5
- NAIC: 0.74
- BBB: A+
- AM Best: A++
- Standard & Poor’s: AA+
- Moody’s: Aa1
Geico and its affiliates have earned top marks from Standard and Poor’s, Moody’s, and AM Best for financial strength and claims-paying ability. In 1996, the company was acquired by Berkshire Hathaway, whose property-casualty insurance operation has been named as the most admired in the U.S. by Fortune magazine. Complaints about Geico car insurance generally revolve around three issues: slow claim response times, confusing website pages, and premium increases.
All things considered, Geico receives a solid score in this category, with a few points deducted because of customer complaints.
Category Rating: 20/30
Sample Geico Car Insurance Quotes
|Sample Age||Clean Driving Record||Poor Driving Record|
|21||$312 / month||$388 / month|
|30||$254 / month||$314 / month|
|42||$259 / month||$327 / month|
Learn more about how we obtained these sample quotes in the Methodology section at the end of this article.
Geico received a score of 30 in the cost portion of this review, as its premiums rank 2nd among the 10 major car insurance companies that WalletHub evaluated.
However, it is worth noting that Geico’s method of calculating rate quotes faced legal action from the Consumer Federation of California in 2015. The complaint alleged that Geico’s rate-quote system unfairly targeted certain low-income motorists with deceptive and inflated insurance quotes. Geico paid $6 million to settle the deceptive rate-quote complaint.
Category Rating: 30/30
Geico's Types of Insurance
- Vehicle insurance
- Property insurance
- Business insurance
- Life insurance
- Pet insurance
- Jewelry insurance
- Travel insurance
- Overseas insurance
- Identity protection
Given that Geico offers several different insurance options – including car, home and life insurance – and gives customers savings for bundling policies, it received a high score in this category. Below, we’ll delve deeper into the car insurance coverage options available from Geico, as auto insurance is what the company is mainly known for.
Geico offers all of the standard car insurance coverage options: liability insurance for bodily injury and property damage, collision insurance, and comprehensive coverage, for example. On top of that, Geico offers a supplemental list of protections as well as specialty auto insurance options that help set it apart from competitors.
Supplemental Geico Car Insurance Coverage Options
- Emergency Road Service: Covers emergency towing, jump starts, flat tires, and lockout services.
- Rental Reimbursement: Covers the cost of rentals while your primary vehicle is in the repair shop.
- Mechanical Breakdown: Covers mechanical issues that arise after your car warranty expires.
- Auto Repair Xpress®: Expedites the auto repair process after you have reported a claim.
- Accident Forgiveness: Protects you from premium increases due to your first at-fault accident.
Consumers should choose the coverage options that best fit their needs and wallets. The primary goal of every savvy auto insurance shopper is to get the best coverage for the lowest price.
Specialty Types of Geico Auto Insurance:
- Geico Rideshare Insurance for individuals who drive for a ridesharing or on-demand delivery company. This is a “hybrid” auto policy that takes the place of your personal auto policy.
- Geico Non-owner Car Insurance for drivers who don’t own a car but need car rental insurance.
- Geico Commercial Auto Insurance for vehicles used for business purposes.
- Geico Classic Car Insurance for antique or collector cars.
- Geico Mexico Auto Insurance for individuals driving their cars in Mexico.
For those who live life on the adventurous side, Geico also insures motorcycles, ATVs, boats, and other types of recreational vehicles.
Category Rating: 5/5
- Multi-policy discount
- Multi-vehicle discount
- New vehicle discount
- Military discount
- Federal employee discount
- Defensive driving course discount
- Driver’s education course discount
- Five-year accident-free discount
- Good student discount
- Seat-belt-use discount
- Anti-theft system discount
- Anti-lock brakes discount
- Airbag discount
- Daytime running lights discount
- Partnered-organization discount
- Emergency deployment discount
Altogether, Geico offers more than 15 different insurance discounts, providing savings of up to 40%. As a result, Geico receives full marks in this category.
You can learn more from our Geico discounts guide. Just bear in mind that discount availability and details vary by state.
Category Rating: 5/5
Geico allows customers to file claims online or by phone. It also offers 24/7 claims support by phone, which could be helpful if you get into an accident in the middle of the night, for example. As a result, Geico receives full marks in this category, per our grading criteria, which you can find in the Methodology section below.
This is not to say that Geico’s claims process is perfect. There are issues from time to time, prompting customer complaints, as is the case with any insurance company. But Geico provides all the tools needed to make the claims process as painless as possible.
Category Rating: 15/15
Key information is easy to find on Geico’s website and mobile app, so it gets a good score in the transparency department Furthermore, Geico has live customer service agents available to answer any questions you might have.
Category Rating: 5/5
Geico Car Insurance vs Popular Alternatives
|Average Annual Premium||$3,546||$2,183||$3,925||$3,422|
(lower is best)
*Customer satisfaction ratings are from JD Power’s 2018 automotive insurance surveys.
Bottom Line: Geico is a good insurance company, especially for tech-savvy, budget-conscious drivers who are comfortable buying car insurance directly from an insurance company, rather than from an individual agent. Prospective customers should also be comfortable managing the policy largely online and over the phone, rather than face to face with an agent. Fortunately, Geico has a largely transparent, fairly easy-to-use website.
All in all, Geico car insurance scores well in terms of pricing, ease of use, and coverage options. For example, Geico offers a special policy to protect people driving for rideshare companies or on-demand delivery services. There are lots of discounts available, too, lending some credibility to the company’s famous tagline: “15 minutes could save you 15% or more on car insurance.” In fact, the various discount categories could help drivers save as much as 40%.
Summary: Geico Scores by Review Category
|Customer Service & Reviews||20/30|
|Types of Insurance and Additional Services Offered||5/5|
In order to provide fair, helpful reviews of insurance companies such as Geico that can lead consumers to the best insurance coverage for their needs, WalletHub rates each insurance company in seven major categories: Cost, Insurance Types, Customer Service & Reviews, Discounts, Claims, Financial Stability and Transparency. Below, you can find an overview of what each section in our scoring rubric entails.
- The “Cost” section includes information about how expensive the insurance policies are, including rates and fees.
- The “Insurance Types” section examines what types of insurance policies the company offers.
- The “Customer Service & Reviews” section measures the insurance company’s reputation as well user reviews and information from watchdog organizations.
- The “Discounts” section examines how many and what types of discounts the company offers. It also takes into consideration whether or not there are discounts for bundling policies.
- The “Claims” section examines the ways in which customers can make claims with the policy. It considers whether or not customers can make claims by phone or online, as well as whether or not the company has a 24/7 support line.
- The “Financial Stability” section considers the company’s status with credit rating agencies A.M. Best, S&P and Moody’s.
- The “Transparency” section measures how clearly the insurer discloses key information on its website.
The final score takes these seven categories into account and reflects how close an insurance company is to WalletHub’s definition of a 5-star insurer. For more information, please read WalletHub’s full methodology.
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