2019 GEICO Car Insurance Review
GEICO Review Summary: GEICO is the second largest auto insurer in the United States, offering car insurance options for drivers of all types. GEICO insurance is especially good 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.
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%.
In the sections below, you can learn more about GEICO’s auto insurance offerings, how they compare to policies from top competitors like USAA and State Farm, 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 Auto Insurance Reviews & Ratings
- WalletHub: 3.9 / 5 (522 user reviews)
- Better Business Bureau: B+ rating (not accredited)
- JD Power Associates: 3 / 5
- National Association of Insurance Commissioners: The number of complaints for GEICO in 2018 was less than the national median for the auto insurance industry.
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.
In addition, 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.
Key GEICO Car Insurance Stats:
|Number of Vehicles Insured||28 million+|
|Number of Auto Policies in Force||17 million+|
|Number of Discounts Offered||15|
|Average Annual Customer Savings*||$500|
Source: GEICO.com and GEICO New Policyholder Survey (March 2018)
Fun Fact: GEICO stands for Government Employees Insurance Company, but you do not have to work for the government to get GEICO insurance.
GEICO Car Insurance Coverage Options
On top of the standard coverage options – liability insurance for bodily injury and property damage, collision insurance, and comprehensive coverage, for example – GEICO also offers a supplemental list of protections as well as specialty auto insurance options that help set itself 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.
Sample GEICO Car Insurance Quotes
WalletHub editors pulled sample GEICO car insurance quotes for a total of six driver profiles, which are fairly representative of drivers across the U.S. Premiums may vary by state, however, as well as the level of car insurance coverage you decide to purchase.
|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.
Auto insurance companies reward people who have a clean driving record with lower rates, as good drivers are less risky to insure. A clean driving record means no accidents or traffic convictions. A poor driving record includes at least one at-fault accident or one traffic violation.
Top GEICO Discounts
- Vehicle Safety Equipment: If your car has safety features such as air bags, anti-lock brakes, and anti-theft systems, you could save up to as much as 40 percent.
- Safe Driving History and Habits: Drivers who practice good driving habits like putting on a seatbelt and have been accident-free for five years could potentially save up to 26%.
- Driver’s Education: Taking a driver’s education or defensive driving course could provide savings up to 15 percent.
- Special Affiliations: Discounts for federal employees and military personnel range from 8% to 25%.
- Customer Loyalty: GEICO provides discounts to those who have multiple insurance policies with the company.
Discount availability and details vary by state. To see which discounts you may be eligible for, you can either go to the GEICO website for an online quote or call to speak with an insurance professional.
GEICO Car Insurance vs Popular Alternatives:
|Average Annual Premium||$3,546||$2,183||$3,925||$3,422|
|Complaints Score (lower is best)||0.84||1.12||0.59||0.70|
*Customer satisfaction ratings are from JD Power’s 2018 automotive insurance surveys.
In order to determine GEICO’s ranking in the auto insurance industry, WalletHub’s editors reviewed the policies offered by the largest and most popular car insurance companies in the U.S. This enabled us to identify the relative strengths and weaknesses of each company as well as the types of consumers each is best positioned to serve.
More specifically, WalletHub’s GEICO car insurance rating is based on a combination of factors, which research has shown to be particularly important for car insurance shoppers.
- Customer reviews
- Watchdog ratings
- Coverage options
- Coverage limits
- Claims process
- Customer service
To take the temperature of car insurance customers from GEICO and other companies, WalletHub calculates a complaints score for each insurer. This score is the ratio of each insurer’s share of all U.S. car insurance complaints over the insurer’s share of annual premiums for private passenger auto policies. Put another way, the complaints score reflects the number of complaints adjusted to the size of the auto insurer. The adjustment is necessary, as larger companies generally receive more complaints.
Assumptions for GEICO Car Insurance Quotes:
Marital Status: Single
Car: Honda Accord
Comprehensive Deductible: $250
Collision Deductible: $500
Collision Deductible Waiver Add-on: Included
|Coverage Type||Coverage Limit|
|Bodily Injury||$100,000/person - $300,000/accident|
|Uninsured/Underinsured Motorist (Bodily Injury)||$30,000/person - $60,000/accident|
To determine and compare the cost of GEICO auto insurance, WalletHub collected quotes from all major auto insurers for at least 30 cities in California. We also obtained quotes for a variety of driver profiles from the state regulator’s database. By receiving quotes for multiple driver profiles, WalletHub ensured a diverse sample. California was chosen given that it is the most populous state in the U.S. (12% of total population), and it lands in the middle of the price rankings in WalletHub’s 2019 Cheap Car Insurance Study.
If you have experience with GEICO car insurance that you think might help other consumers, you can also write a GEICO review. For more WalletHub car insurance research, check out our 2019 Cheap Car Insurance Study.
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