GEICO Car Insurance Review: Cost, Discounts, Pros & Cons
GEICO is great for people who want a low priced policy.
GEICO does not offer local advisors. Talking to a live person means dialing the call center.
GEICO is well known, but might not be the best option for you.
GEICO Insurance Company pays big money to advertise their policies to you.
The adorable little gecko with a English accent, offering to save you "15% or more in 15 minutes" is a great marketing idea.
But are they a good company?
In this Geico Insurance review, we will review Geico's pros and cons, complaints against them, review their ratings, tell you how much they cost, tell you about their discounts and discuss their grace period.
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Who Is Geico Insurance?
Geico car insurance is the second-largest car insurance company in the United States.
People know Geico as an affordable car insurance provider that offers some of the lowest rates to consumers.
With Geico, consumers can get auto coverage within their budget over the phone or online.
GEICO Auto Insurance started out as “Government Employees Insurance Company”.
Hence, the strange name.
Since transitioning into a car insurance provider for the masses, they have gotten really big.
However, is Geico a reliable insurance provider? In this Geico car insurance review, we’ll cover everything you need to know about the company.
By the time you finish reading, you’ll be able to determine whether Geico car insurance is the right insurance company for your vehicle.
How Does Geico Auto Insurance Work?
GEICO's insurance policies are like most others out there.
Nothing really special about the coverage. Its just a basic auto insurance policy.
GEICO offers insurance via their website and call centers.
They don’t offer you a dedicated agent, like State Farm or Farmers.
They are all about low cost and the best way to keep costs down is to eliminate local agencies.
GEICO dominates the lower end spectrum of car insurance. If you are all about low price, GEICO Auto Insurance is definitely a good option for you.
GEICO’s car insurance policies are similar to other policies. They offer most of the standard options, such as liability, comprehensive, and collision coverage.
Related Auto Insurance Articles:
GEICO Liability Insurance
Geico car insurance provides liability coverage to vehicle owners in all 50 states.
Liability coverage protects the driver from great financial loss since the insurance company pays for any property damage or personal injuries caused by an accident where the driver is at fault.
Most states require some form of liability coverage to operate your vehicle legally.
With liability coverage, Geico car insurance will pay for the other party’s:
Geico Comprehensive Coverage
Comprehensive coverage covers damages to your vehicles (except damage caused by a collision).
Some examples of comprehensive coverage include:
- theft (broken window/door)
- hail damage
- flood and hail
- hitting an animal
Comprehensive coverage is optional, but several drivers consider it necessary if they live in a high-risk neighborhood.
Note that comprehensive coverage does not include maintenance such as belts and hoses, brakes, or tires. The insurance only kicks in if damage has occured due to some outside reason or agent.
Geico Auto Insurance has relatively affordable comprehensive coverage packages with quite low deductibles.
Geico Full Coverage
Full coverage is a term to describe a more complete insurance package.
“Full Coverage” is a term that refers to liability coverage, plus comprehensive and collision on your vehicle. You might also add roadside assistance and rental car to the package.
While not all full coverage plans are equal, every plan typically covers all the basics like medical, liability, collision, etc.
With Geico full coverage, you can completely customize your insurance plan to suit your needs.
Geico car insurance has a team of agents ready to assist you when choosing a plan.
If you aren't sure what type of coverage you need, they can walk you through all the options.
Geico Roadside Assistance
If you buy Comprehensive coverage on your car or truck, then you can add roadside assistance.
This coverage is usually less than $50 per policy term per vehicle.
It can come in handy if you need a tow, locked yourself out of your car, or need someone to come and jump your dead battery.
Since using Geico roadside assistance typically means you are having care trouble, you're probably wondering whether or not Geico offers any type of rental car service while your car is in the shop. Let's cover that next.
Geico Rental Car
If your car is wrecked in a ‘covered claim’ event, then you can have this coverage pay your out of pocket expenses associated with a rental car.
don't be a dodo!
Watch out for this mistake!
When adding rental car coverage to your policy, make sure you have enough coverage to rent a car that is similar to the one you drive every day. For example: if you own a large SUV, you will need a lot more rental car coverage than if you drive a compact car.
Rideshare Driver Insurance with GEICO
GEICO Auto Insurance is set up to offer insurance to drivers of the various rideshare companies.
These include the biggies, like Uber, but they also offer coverage for food delivery app drivers, like Grubhub or Postmates.
If you'd like a Geico Uber quote or Geico Lyft quote, they offer their own “hybrid” auto policy which offers protection to rideshare drivers. It provides personal and rideshare coverage to the drivers.
How much does Geico's rideshare insurance cost for Uber? According to Nerdwallet, a hybrid policy for Uber drivers through Geico costs around $150 per year. But the comments in this article say it costs more. My suggestion would be to simply follow the instructions below to obtain a free quote.
tips for success!
If you drive for a rideshare company, be sure to have your own insurance in place for the risks caused by driving your car for money. Don’t depend entirely on the rideshare company to cover a claim.
The Claims Process
There’s no doubt that getting into a car accident can be stressful for you and your family.
Even if nobody is hurt, you still have to deal with a damaged vehicle and file an insurance claim.
The claim process can become emotional, especially if the process is slow or the claim adjuster is not responsive.
Geico car insurance makes filing a claim after an accident incredibly easy at: www.geico.com/claims
tips for success!
When working with claims adjusters, document everything and give them a deadline to respond.
All you need to do is use the official Geico app, website, or call their office directly to begin the claims process.
You will need a few bits of information to file your claim, such as a police report, vehicle information, and information about the other driver(s), if any.
Geico deals with thousands of insurance claims every day, so their team knows exactly what to do when you reach out.
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Does Geico Offer Car Insurance Discounts?
Yes, Geico offers several discounts on car insurance for its customers.
They offer a multi-policy discount, which apples when you have more than one policy with them.
Oftentimes, this means bundling your home and auto insurance.
tips for success!
Homeowners insurance policies have a lot of details that can have a big impact at claim time. Working with a veteran agent who can advise you on proper coverage is a good idea.
You typically want to buy home insurance from a seasoned insurance professional.
Someone who can advise you and guide you to the right policy to protect your home.
I’m not saying GEICO Insurance doesn’t have seasoned professionals working for them, it's just that the front line agents working for them are probably not the most experienced at home insurance.
Their niche is auto insurance and they should stay working in their niche.
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Individual GEICO Car Discounts
Good driver: up to 26% discount if you’ve had a clean record for three years.
Senior Driver: This one can vary and its similar to the Good Driver discount. Ask about it when you get a quote. A “senior” is anyone over the age of 50. I’m almost there!
Good Student: if your kid has a GPA of “B” or higher, then your ridiculously high premiums just got 15% lower. Applicable to students ages 16 to 24. You will need to provide a report card to keep the discount.
Federal Employee Discount: if you are a current or retired employee of Uncle Sam, you get a 8% cut to your policy cost.
Military Discount: current and retired military service men and women are eligible for a 15% discount with GEICO. Most of these people are with USAA, so I’m not sure how often this one gets applied.
Members and Employee Discount: employment with some companies will earn you a GEICO car discount. Be sure to ask about this when getting your quote. First responders and university alumni associations are typically the types of groups who receive this one.
Discounts for Safety
Seatbelt: We aren't sure how they can tell if you wear your seatbelt, but apparently they will give you a 15% discount for it.
Defensive Driving Course: not offered in all states, but be sure to ask when getting a quote.
GEICO DriveEasy: Telematics is the wave of the future. If you let Geico track your driving habits, by installing a tracking device in your car, they will give you a discount. There's a lot of ways this could work for you. Say they want to track your actual mileage and give you a discount if you drive less than 50 miles per day. They could rely on the DriveEasy app rather than take your word for it! They can also send you ideas to make you a safer driver.
Can Geico Track my Car?
After having mentioned Geico's DriveEasy app above, it's important to state that if you add this app, then yes, Geico can track your car! DriveEasy is a tracking device that activates every time it detects movement. It logs in everywhere you go.
Vehicle Equipment Discounts
With Geico, drivers can already save big on car insurance, but their discount programs add even more to the savings.
For this reason alone, several drivers in the US choose Geico Auto Insurance for their car insurance coverage.
To learn more details about each discount type, you’d need to speak directly to one of their reps.
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How Much Does Geico Auto Insurance Cost?
The price of a Geico insurance policy can vary among policyholders. Numerous factors influence the price of car insurance, such as:
The average cost of Geico Insurance per year with the minimum amount of coverage is around $400.
However, that’s only driving with the bare minimum in coverage, which isn’t recommended.
For more comprehensive coverage, you can expect to pay around $800 to $1000 per year.
That said, Geico does have some of the most affordable insurance plans.
If you compare their prices to other insurance providers, GEICO will usually be priced very competitively.
To be sure, you can get a Geico car insurance quote from their website.
What’s the Cost to Add My Teenager to My Insurance Policy with Geico?
If your teenager is ready to get behind the wheel, Geico Auto Insurance has a few options for insurance coverage.
Adding them to your existing policy is easy.
When your teen is ready to drive, all you have to do is call a Geico rep and inform them you want to add them to your policy.
Geico car insurance also has numerous resources on their website for young driver safety you can take advantage of.
Action Item: When comparing auto insurance companies, don’t decide based on price alone. Get two to three quotes, then call or chat online with the company and ask about their claims process. Does it sound easy and reliable? You can get started comparing quotes here.
Pros and Cons of Geico Auto Insurance
Like most insurance providers, there are always some good and bad things to say about the coverage and the company.
Below are some of the advantages and disadvantages of choosing Geico as your auto insurance provider.
Geico Insurance Pros
The following are the biggest reasons that Geico car insurance is popular when it comes to car insurance.
Let’s face it, auto insurance isn’t a bill we’re excited to fork out each month.
If you like low prices, then GEICO and their plentiful discount options is a big plus.
One reason why Geico Auto Insurance is the second most popular choice for car insurance nationwide is all the discounts they offer.
The company truly goes above and beyond trying to ensure that drivers save as much as possible by switching to Geico.
Some of the savings can go upwards of 25% off, which is amazing.
User-Friendly Website and Mobile App
GEICO’s mobile app allows customers the ability to handle a lot of business:
Getting quotes, contact customer support, or reading through education resources on the Geico site and mobile app is incredibly easy.
You can tell the company invests a lot into their online experience, and it helps those who aren’t internet-savvy access their policy information.
That said, if you’d rather speak to someone over the phone, Geico Auto Insurance still offers phone support.
Strong Company Ratings
Geico car insurance spends a lot of time talking about how they’re the top choice for car insurance in the US.
However, they aren’t just tooting their own horn.
Several third-party ratings also validate that Geico is a reliable and affordable option for auto insurance coverage. We’ll cover more details about their reviews and ratings below.
In 2020, JD Power ranked Geico as #1 in the North Central and North West of the United States. They tied with American Family in the Southwestern states.
That is pretty good if you ask me.
As with any company, Geico Insurance isn’t perfect. The following are the things customers complained about.
Local Agents Aren’t Always Available
This is probably Geico’s biggest weakness. They don’t offer dedicated agents.
I’m a big fan of dedicated insurance agents. They provide a ton of value to their customers.
Insurance is a complex financial contract and using a call center advisor to help you secure your financial future seems shortsighted to me.
Another problem with using a call center based customer service approach is the lack of continuity.
Everytime you call back to pick up the same issue, you have to reinvent the wheel with the new customer service agent.
And remember, not all employees are created equal.
So you might get a total rockstar customer service rep on one call and then get some guy who just got hired and doesn’t know anything yet on your next call.
While Geico Auto Insurance does have local agents scattered throughout the country, it’s unlikely there will be one close to your home.
Inconsistent Claims Updates
This is another big problem for me. Insurance is all about trust.
If you can’t trust your insurance company to come through promptly for you after a loss, then the discounts and low up front costs lose their value.
While Geico does have a seamless claims process, they can take awhile to update claims.
Keeping up with all the claim management updates can be exhausting, especially if you aren’t tech-savvy.
What Are Geico's Financial Ratings?
Geico car insurance is a subsidiary of Berkshire Hathaway, one of the largest insurance companies in the world.
If you're not aware of that company name, you've probably heard of its top shareholder and CEO, Warren Buffet! As in, the billionaire investor, also known as the "Oracle of Omaha." Yeah, they own Geico!
Geico Insurance has some exceptional financial ratings from numerous online reviews.
Standard and Poor give Geico an AA+, which is considered very strong since they have a rigorous rating process.
A.M Best gives Geico Auto Insurance an A++ rating, which puts the insurance provider in the top 5% of all property and casualty insurance companies in the nation.
A.M. Best is the most well respected name in the insurance industry for financial solvency scoring of insurance companies. Insurance pros don’t look anywhere else for their financial score info.
The ratings make sense considering Geico offers its customer's bargain insurance premiums, low deductibles, and quality customer service.
Geico Auto Insurance Reviews & Complaints
Geico has an overall positive collection of online reviews.
Most of their customers claim that since switching to Geico, they save more money and have an easier auto insurance experience.
That’s not to say that Geico Insurance is perfect.
There are some negative reviews about the company, but they only make up a small percentage.
Many of the negative reviews have to do with long wait times to speak with a rep on the phone.
Other customers report that the online claims management tool is buggy and doesn’t always work the way it should.
However, there are few negative reviews about the coverage Geico provides.
Geico BBB Reviews
The Better Business Bureau is a non-profit organization that’s been around for over a century.
Today, it’s one of the primary places people go seeking information about a company, its services, and what real customers have to say about their experience.
Geico’s BBB reviews aren’t necessarily the best.
The company only has a 1.1/5 star rating, with 2557 complaints filed over the last years.
However, you must look at the big picture when determining whether Geico Auto Insurance is a reliable insurance provider.
If you dig deep into the BBB reviews, most people are complaining about an individual experience they had with a customer service rep or an error in the claims process.
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Geico Customer Service
Overall, Geico car insurance has a pretty reliable customer service team.
You can reach out to support online via chat, phone, or email.
Since they invest heavily in customer service, you can typically resolve minor issues within 24-hours.
Several customers report that the customer service team at Geico is friendly, dependable, and efficient.
Is Geico the Right Choice for You?
Whether you need auto, property, or life insurance, Geico Auto Insurance is a reliable choice for most Americans.
When you compare their rates to other insurance companies, you’re almost always likely to find the lowest rate when you choose Geico.
Not only that, the company has several attractive discount programs for a wide range of citizens.
tips for success!
Want to (customize)?
GEICO Insurance is great for the tech savvy young adult. If you struggle with websites and technology, you may want to look elsewhere for car insurance.
Geico continuously gets high ratings from top reviewers like Standard and Poor, A.M, and J.D Power.
To determine whether Geico car insurance is the right insurance provider for you, we recommend reading through the thousands of customer reviews online.
Still have questions? Let's go through some common ones:
How Do I Get a Quote from Geico?
You can get a Geico auto insurance quote incredibly fast using the online quoting tool on their website.
You’ll need to provide your location, some personal information, vehicle information, and what kind of coverage you need.
Is Geico the Cheapest Option?
From a pure cost perspective, Geico car insurance may not be the cheapest option.
However, if you consider the quality of coverage and customer service, Geico seems to have some of the best packages on the market.
While other companies may have lower monthly premiums, you could end up with insufficient coverage and pay more out of pocket later.
Does Geico Have a Grace Period?
Yes, Geico Auto Insurance has a 9-day grace period in case you can’t make a payment on time.
However, they have the right to terminate your policy if you wait longer than the 9-day grace period to make a payment.
Geico also has a new car grace period, which is the period of time you have to add your new car once you have bought it. Geico's new car grace period is 30 days. In other words, if you buy a car and
What Is Auto Insurance?
In short, car insurance is an agreement between you and an insurance company that protects you from significant financial loss in the event of an accident or theft.
Auto Insurance policies are a bundle of coverages that you can select from to match your needs as an individual.
Most states require people who own cars to at least carry some form of liability insurance.
If you have a loan on the car, then the lender will require you to carry Comprehensive and Collision coverage to insure the vehicle against theft or accident.
Auto Insurance Companies sell policies to a lot of people and use that money they collect to pay the claims of a few people and then keep the money that does go towards claims or overhead expenses as profit.
Without a doubt, Geico car insurance is one of the leading car insurance providers in the United States.
With low premiums, a rock star customer care team, and seamless online claims management experience, it’s no surprise they are among the top insurance companies.
We hope this Geico car insurance review was helpful, and you now know everything you need to determine whether they’re the right company to handle your auto insurance.
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