- Broad supplemental coverage options with extensive discounts
- Strong financial ratings from A.M. Best, S&P Global, and Moody's
- High claims satisfaction from J.D. Power
- No. 1 ranked mobile app in Forrester's 2017 U.S. Mobile Auto Insurance Benchmark
How We Reviewed Geico Auto Insurance
36 companies compared
50 states serviced
13 coverage options analyzed
Geico Auto Insurance Review
As the nation’s second-largest auto insurer, Geico boasts an impressive range of coverage options and discounts, with strong financial solvency and high claims satisfaction ratings that guarantee the company’s ability to keep you covered when the unexpected happens. Geico also places great emphasis on technology with its highly rated mobile app, making filing claims and viewing your policy as easy as pulling out your phone.
Geico doesn’t have all of the additional coverage options we’d like to see from such a prominent insurer — notably missing is gap coverage, which pays the difference between the value of your wrecked vehicle and the amount still owed on its loan, and new car replacement. But the available coverage more than satisfies our basic asks. Combined with the second-most discounts of our top insurers, Geico’s policies will likely be more than enough to fit the average car owner’s needs.
Geico’s famous slogan is: “15 minutes could save you 15% or more on car insurance.” Regardless of the actual time spent, Geico’s promise of huge savings potential is an ambitious one.
Is it true?
With more discounts than any of our favorite car insurance companies besides Travelers, Geico has big savings potential — if you qualify. Just like the factors that go into your premium, the discounts for which you’re eligible vary based on your individual circumstances. Students covered under Geico, for example, can save up to 15% if they maintain a B average or higher, while drivers over age 50 can see savings up to 10% just for completing a defensive driving course. Geico is also the only insurer from our top picks to offer a discount for members of the military.
With Geico, it also pays to be a safe driver, and having a car equipped with the latest safety features can amplify those savings. Driver-side air bags can offer savings of up to 25%, and if your vehicle has full-front seat air bags, you can save as much as 40% on your policy. Geico also rewards cars with anti-lock brake and anti-theft systems, as well as daytime running lights. Many of these features come standard in newer cars, so if you’ve recently purchased a new vehicle, you may be eligible for significant savings.
While you certainly won’t qualify for all of the discounts Geico has to offer, a broad range of deductions means you have more chances to save, and most drivers will be able to find some discounts they qualify for. Depending on your eligibility, 15% may be just the beginning of the savings you’ll see from switching to Geico.
✓Simple claims processing
✓ Great for owners of newer-model cars
✓ Impressive claims satisfaction score
✓ Wide array of supplemental coverage
✓ Award-winning app
✗ Not ideal if you want to hold multiple policies with one company
✗ Unimpressive homeowners insurance experience
Top-rated mobile app
High claims satisfaction
Safe driver discount
Good student discount
It’s important to have coverage options that will keep you protected after an accident. Thankfully, Geico goes above and beyond with supplemental coverage options that are among the best in the business. It’s missing some features we’d like to see, like gap coverage, but we were nevertheless impressed by additions like accident forgiveness for your first at-fault accident and special coverage for rideshare drivers in 40 states plus D.C.
Impressive financial strength
Car accidents are less a matter of “if” and more a matter of “when.” And when accidents occur, you shouldn’t have to worry about whether your auto insurer will be able to pay your claim. This is why choosing a company with strong financial ratings can help provide peace of mind when you need it most. Geico passed our criteria for financial solvency with flying colors, earning the highest possible rating (A++) from A.M. Best, a credit rating agency dedicated to the insurance industry, as well as extremely strong ratings from S&P Global (AA+) and Moody’s (Aa3).
Geico also boasts an impressive score on J.D. Power’s 2017 Auto Claims Satisfaction Study, a survey of nearly 12,000 auto insurance customers. Claims satisfaction is widely considered the best indicator of customer satisfaction for auto insurers, since policyholders are likely to be most critical after filing a claim — the happiness of such customers is a good indication not only of an insurer’s claims handling ability, but also the experience it provides throughout the claims process. With a score of 870 on a 1,000-point scale, Geico comes in above the industry average and places sixth among all insurance companies.
Award-winning mobile app
Geico’s mobile app was ranked No. 1 in Forrester’s 2017 U.S. Mobile Auto Insurance Benchmark. It can be used to view policies, file claims, and request roadside assistance. Many insurers have struggled to find effective ways to adapt their services to mobile technology, but Geico is doing it best. There are still some features missing: Mostly, we wish you were able to edit your policy. Given the complexity of insurance policies, it makes sense that Geico would want its customers to work with agents directly, but we still hoped the insurer’s mobile app would provide the full functionality of its website. Even still, the wide range of capabilities earns Geico its high rankings and reinforces the strong customer satisfaction reported by J.D. Power.
Lackluster homeowners insurance
While you do get a discount for holding multiple insurance policies with Geico, we aren’t impressed with Geico homeowners insurance. Geico doesn’t underwrite its own homeowners policies — it basically functions as a middleman, and the quality of your experience depends on who it matches you with. Its homeowners insurance also lacks the same breadth of discounts that its auto policies are famous for. This drawback isn’t a dealbreaker, but it is worth getting quotes from other homeowners insurance providers to make sure you have the full picture of your options.
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Geico vs. Travelers
Travelers is one of our favorite auto insurance providers, with financial ratings that rival Geico’s, plus more discounts and supplemental coverage options than any of our other top picks. Travelers covers all of the standard discounts we look for in providers, as well as hard-to-find deductions for things like paying policies in full and having students away at school. We’re also impressed by Travelers’ gap insurance and ridesharing coverage, plus accident forgiveness for customers with good driving records.
However, Travelers is lacking when it comes to claims satisfaction, scoring below the industry average in the J.D. Power study. Though this may not impact your coverage, it’s a good indication of the relationship between the insurer and its customers. We recommending getting quotes from both companies and weighing your priorities when it comes to an auto policy.
Geico vs. Ameriprise Financial
Ameriprise Financial stands out for its unique coverage options that we didn’t find with other providers, including Geico. You can customize your policy with endorsements like windshield repair, key replacement, gap coverage, and travel accident coverage. But Geico takes the lead in its discount offerings. You won’t find discounts for military members, federal employees, and seniors with Ameriprise. The company also serves 44 states, fewer than Geico. If any of its unique coverage options appeal to you, it’s worth taking a look — however, Geico may offer you cheaper premiums in the long run.
Does Geico have accident forgiveness?
Geico is one of only a few insurers to offer accident forgiveness, which keeps your insurance rate from increasing after your first at-fault accident. While it’s not available in every state (California, Connecticut, and Massachusetts drivers won’t benefit from this option), accident forgiveness can be added to your policy as a supplemental coverage option or earned for being an accident-free Geico customer for five years. You can also get a 10% discount on your policy if you stay accident-free for five years.
Does Geico use your credit score?
Some insurance companies use your credit score as a factor in quoting your premium, but it depends on individual state laws. The credit inquiry will not count against your score, and it won’t be the sole decider in premium prices.
What states is Geico available in?
Geico’s auto insurance is available in all 50 states. And though the company has agents all across the country, discounts and coverage options may vary by state.