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Geico Car Insurance Review
Geico is a popular car insurance provider and is known for advertising affordable premiums. This makes Geico a great option for people looking to potentially save money. The company’s popular motto, “15 minutes could save you 15% or more on car insurance,”is a common phrase in its commercials.
Geico’s car insurance policies are pretty standard compared to what other companies offer. In addition to car insurance, it also offers coverage for motorcycles, ATVs, RVs, collector cars, rideshare vehicles, and boats. And if you bundle your policies, you usually can save even more money on your premium.
Geico is also well-known for its top-notch customer service. It has 24/7 customer support and roadside assistance and consistently ranks as one of the top companies in J.D. Power customer satisfaction surveys.
The Auto Insurance Factors We Analyzed
Geico is well-known for its affordable car insurance rates. Cost savings is the main reason why drivers choose Geico over other insurance providers. Based on data from U.S. News and World Report, the average cost of Geico’s car insurance premiums is about $1,168 for a medium coverage policy.
However, it’s important to note that there are a variety of factors that influence your car insurance premium—some you can control and others you can’t. For example, car insurance providers look at the driver’s age, gender, marital status, location, and credit score to calculate rates.
Additionally, the company looks at the make and model of the vehicle, prior claims history, and how safe the car is. Essentially, the cost of your car insurance premium is different for every driver based on unique circumstances.
Geico is known for its excellent customer experience. First, the company was rated the top large auto insurer in J.D. Power’s 2020 U.S. Insurance Shopping Study. Geico’s NAIC customer complaint index has remained slightly below average in the past few years. The most common reasons for complaints included unsatisfied claim handling, claim delays, and claim denials.
Geico also rates well in J.D. Power’s 2020 Auto Insurance Satisfaction Study for overall customer satisfaction. Geico ranks #1 in three of the nation’s regions, and above average in every region.
Geico also offers a few online tools that make the customer experience more enjoyable. It offers a personalized coverage calculator to help drivers determine how much coverage they need, as well as a car insurance comparison tool. Customers can also use the Geico mobile app to get their ID cards, file a claim, and more.
Geico’s car insurance policies offer standard auto insurance coverage for collision, comprehensive, liability, medical payments, and uninsured/underinsured drivers. Drivers can also choose to purchase additional coverage for emergency roadside assistance, rental car reimbursement, and mechanical breakdown insurance.
Most states have a minimum amount of insurance coverage that’s required, and you need to meet that amount in order to operate your vehicle legally. To determine how much liability coverage you need, you can use Geico’s personalized coverage calculator.
Deals, discounts, and add-ons
In addition to its fair prices, Geico also offers a variety of discounts. The most lucrative way to lower your premium is by having certain safety features installed on your vehicle. Customers can save up to 23% on their premium by simply having airbags or an anti-theft system.
If you’ve been accident-free for five years, you can save up to 26% on your premium. Additionally, Geico provides discounts for good students (up to 12%), members of the military (up to 15%), and federal employees (up to 8%). You can also save by taking a defensive driving course, bundling your policies, and even using your seatbelt.
Geico’s mobile app
Geico has a robust mobile app to help customers manage their policies. The app has a rating of 4.8/5 stars on the Apple app store, which is higher than many of its competitors.
First, customers can use the app to access and download a digital insurance card. Rather than carrying a paper card in your wallet, you’ll always have an updated insurance card on you.
Customers can also use Geico’s mobile app to request roadside assistance 24/7. Additionally, customers can easily file a claim right from the app by submitting photos and receiving an estimate of the damage in as little as 20 minutes.
Geico’s app also has some standout features you won’t find on other auto insurance apps. The company’s Apple chat and virtual assistant features allow you to connect with a customer service rep and ask questions.
Finally, the app has a vehicle care schedule to help you track your car maintenance. Let the app know when you get an oil change or tire rotation, and the app will remind you when it’s time to schedule another appointment.
Geico Overview: Financial Strength, Availability, and History
Geico has a strong financial outlook, receiving an A++ and AA+ for financial strength from A.M. Best and Standard & Poor’s (S&P), respectively. The company has a long-standing history and is one of the oldest insurance providers in the country. Currently, Geico manages more than 17 million auto insurance policies and insures more than 28 million vehicles. Based on Geico’s financial strength and long-standing history, you can feel confident that it will be there for your insurance needs when you need it most.
- In business since: 1936
- States served (availability): 50 and Washington, D.C.
- Standout features: Affordable prices, great discounts, helpful online tools, 24/7 customer service
How We Evaluated The Best Car Insurance Companies
To find the best companies in the auto insurance field, we only considered insurers that met strict criteria on availability, financial strength, and market share. To compare these contenders, we assigned scores to these companies using data from industry leaders like J.D. Power and A.M. Best. To learn more about our scoring methodology, and our top picks, check out our review of the Best Car insurance Companies.
The Bottom Line
If saving money on your car insurance is a top priority, then Geico is a great option for you. Drivers can take advantage of Geico’s discounts to save money on premiums.
Geico is a good insurance company for many types of drivers. However, it’s best for people who might be subjected to high insurance rates. That includes young drivers, drivers with a history of accidents, drivers with a poor credit score, and drivers with a luxury vehicle. It’s also good for people who have multiple vehicles they want to insure.
Geico offers a variety of insurance types, including vehicle, property, and business insurance. The company also offers umbrella insurance, life insurance, pet insurance, travel insurance, identity protection, and more. If you’re looking for a specific type of insurance, there’s a good chance Geico offers it. If you do purchase multiple insurance policies through Geico, keep in mind that you could be eligible for a policy bundling discount.
Geico is available in all 50 states and Washington, D.C.
Geico’s car insurance policies offer coverage for collision, comprehensive, liability, medical payments, and uninsured/underinsured drivers. Additionally, drivers can purchase add-on coverage for emergency roadside assistance, rental car reimbursement, and mechanical breakdown insurance.