Geico Auto Insurance Review: Should you buy in 2023?

When you think of Geico, your first vision is probably of the famous little gecko that has graced our television screens for over a decade. Geico has become a household name not only because of its commercials but because of its extremely competitive auto insurance rates and high customer satisfaction.

Geico ranks as one of the best car insurance companies in the country and provides the second-cheapest car insurance rates. Customer satisfaction, a wide range of discounts, and user-friendly apps make Geico a top pick for most drivers.

In addition, Geico provides customers with almost every coverage option, including collision, comprehensive, personal injury protection, uninsured motorist, and much more. J.D. Power and A.M. Best also gave Geico high rankings in the most recent studies.

Keep reading our Geico auto insurance review to decide if Geico is the right insurance company for you.

What are the pros and cons of Geico insurance?

Every insurance company comes with its own set of positives and negatives, and Geico is no different.

Here is a list of the most positive aspects of Geico insurance:

• Affordable rates. Geico has the second-lowest average rates compared to other insurers.
• High customer satisfaction. The company also boasts above-average customer satisfaction in claims.
• Several discounts. Geico offers multiple discounts and a user-friendly app.
• Cheap rates for high-risk auto insurance. Drivers with poor credit will find the cheapest rates with Geico.

Unfortunately, there are a few negatives to the company as well:

• No GAP insurance. Geico does not offer GAP or rideshare insurance.
• High rates for drivers with a DUI. Drivers with a DUI will find higher-than-average rates with Geico.
• Not many in-person options. There is a limited network of local agents.

If you’re a driver who prefers online interactions with a tech-friendly company that offers a wide range of discounts, Geico is a great fit for you. Some drivers also like the idea of using a household name, since a larger well-known company can provide a sense of security.

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How is Geico rated by experts and customers?

Geico has above-average ratings with J.D. Power, A.M. Best, the Better Business Bureau, and the National Association of Insurance Commissioners (NAIC). The Better Business Bureau ranks Geico with an A+ for superior. A.M. Best also gave Geico an A++ (Superior) rating.

Geico was also ranked number eight out of 18 companies for claims satisfaction by J.D. Power, and fourth for insurance shopping. Because of this, J.D. Power has Geico currently at a rating of 4.2 out of 5.

NAIC gave the company a 1.33 complaint index. This means the company has about the average number of complaints relative to its size, according to the last three years’ worth of data.

Nearly 50% of Geico customers said they were completely satisfied with their experiences contacting customer service and the assistance provided to them. A similar percentage of policyholders was happy with how easy it was to file a claim with Geico, but only 47% felt they were getting the updates they needed throughout the claims process.

And less than 50% of customers said they were completely satisfied with how Geico resolved the claim.

At the end of the day, customer loyalty is essential to every company’s success. About 50% of Geico policyholders, including those who have not filed a claim, say they are very likely to renew their car insurance policy.

However, only 36% of customers admitted that they would be very likely to recommend Geico to a friend or family member.

How much is Geico auto insurance?

Geico is the second-cheapest car insurance company in the country, following USAA auto insurance which is only offered to the military and their families. Geico’s current average annual rate is $1,148, which is 25% lower than the national average.

Many factors will affect your car insurance rates. One major factor is the coverage you choose to carry. More coverage means higher rates, but you’ll have fewer out-of-pocket expenses if you get into an accident.

How much is the minimum coverage with Geico?

Most states require all drivers to carry a minimum amount of liability auto insurance before getting on the road. Some states will also require you to carry personal injury protection insurance (PIP), MedPay, and/or uninsured motorist coverage.

Geico offers the second-lowest minimum liability rates at $1,064 per year.

Take a look at the table below to compare Geico liability rates with those of the other top insurance companies.

As you can see, Geico’s rates for this level of coverage are nearly $400 lower than the national average.

How much is full coverage insurance with Geico?

While liability coverage is the cheapest option for car insurance, it is also very limited in its protection for you and your vehicle. Full coverage auto insurance includes liability, collision, comprehensive, and other coverages and is recommended for most drivers.

The table below shows how Geico compares to other top insurance companies based on full coverage.

Drivers with Geico pay an average of $1,238 for full coverage auto insurance, which is 24% lower than the national average. Geico, again, has the second-cheapest rates behind USAA.

How do age and gender affect Geico car insurance?

Another important factor that affects insurance rates is the driver’s age.

Younger, less experienced drivers will see much higher rates, whereas older drivers are statistically less likely to be involved in an accident and are less prone to risky behaviors.

Males are also more likely to engage in risky driving behaviors than females, and rates may reflect this.

This table shows Geico rates on auto insurance for teenage drivers based on age and gender compared with other top insurers.

The average rate for a 16-year-old driver with Geico is $4,466 per year or $372 per month. This decreases to $3,646 per year at 17 years old and then to $3,161 at 18 years old.

As long as you keep a clean driving record, you will see your rates continue to decrease until you turn 25 years old.

Below are the rates for adult drivers with Geico compared with the top insurers.

Adults can expect to pay up to $500 less than the national average with Geico. A 25-year-old female driver may even pay $20-$30 less per month than her male counterpart.

Rates on auto insurance for older adults will also be lower than the national average with Geico. Take a look at the table below to compare senior rates.

Geico’s average rate for a 65-year-old is $42 per month, almost 40% less than the national average.

How does your driving history affect Geico car insurance?

Your driving record is an essential factor in determining your auto insurance rates. Drivers should expect their rates to increase if they get into a car accident, receive a speeding ticket, and especially if they get caught driving under the influence and receive a DUI.

This table shows average Geico rates based on a single traffic ticket compared to other companies.

As you can see, insurance rates will increase with Geico if you have a ticket. Your rates will also increase if you have an accident on your record.

Let’s compare Geico with the other leading insurers regarding car insurance rates after an accident.

The average rate after an accident with Geico is $1,819, which is still cheaper than the national average of $2,180. Also, if you get a DUI, you can expect your rates to almost double with Geico, as well as with most insurers for auto insurance after a DUI.

Now that you know how much your rates will increase if you drive recklessly, make sure to avoid any risky driving habits and pay attention when you’re behind the wheel to keep your insurance costs low.

Does your credit score affect Geico car insurance?

Some states don’t allow insurers to consider credit in determining rates, but most do and it can have a large impact on your insurance costs.

Geico has the cheapest car insurance for drivers with poor credit, even against USAA. Drivers with poor credit pay an average of $1,810 with Geico, almost $900 less than the national average.

The table shows how your credit score can impact your Geico auto insurance rates.

Drivers looking for the most affordable coverage may also want to consider State Farm auto insurance. It has the third-lowest premium, with its average national rate hovering around $1,267 a year.

What coverage does Geico offer?

Geico is one of the largest auto insurers in the country, so a wide range of coverages are available to policyholders.

Most states require drivers to carry a minimum amount of car insurance, but you should always consider purchasing more to better protect yourself and your vehicle.

Below we break down all of the coverages Geico offers and what they mean:

• Property damage liability. This minimum coverage pays for damages to someone else’s property from an accident for which you’re at fault.
• Bodily injury liability. This coverage pays for damages for the other party’s bodily injury or death from an accident when you’re at fault.
• Collision insurance. This coverage pays for damages to your vehicle due to an accident, no matter who’s at fault.
• Comprehensive insurance. This insurance covers your own vehicle damage caused by theft, vandalism, flood, fire, or other incidents.
• Medical payments. This insurance covers your medical expenses resulting from an accident.
• Personal injury protection (PIP) car insurance. This coverage pays for medical treatment, missed wages, and other accident-related expenses.
• Uninsured/Underinsured motorist coverage. This coverage helps to cover your injuries or property damage caused by another driver with no insurance or insufficient insurance.

While your state might not require you to have all of these coverages, if you lease or finance your vehicle, your lender will often require you to carry full car coverage insurance, which typically includes collision and comprehensive coverage.

So always check with your state and your financial institution to avoid paying any unexpected costs if your vehicle gets damaged.

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What discounts are available through Geico?

There are many car insurance discounts available through Geico, making it one of the cheapest car insurers for many drivers. Adult drivers with good credit and a clean driving record pay an average of $1,308 per year, or $109 per month, for full coverage car insurance with Geico.

Compared with the national average of $1,730 per year, Geico is 27% cheaper for the majority of drivers. And discounts can help drivers get to this low price.

Auto insurance discounts offered by Geico include the following:

• Air bag discount
• Anti-lock brakes discount
• Anti-theft system discount
• Daytime running lights discount
• Defensive driving discount
• DriveEasy app discount
• Driver’s education course discount
• Emergency deployment discount
• Federal employee discount
• Good student discount
• Membership and employee discounts
• Military auto insurance discount
• Multi-vehicle discount
• Multipolicy discount
• New vehicle discount
• Seatbelt use discount

Drivers can bundle several of these discounts together to get the most affordable rates.

It’s always recommended to get quotes from at least three different insurance companies to make sure you’re getting the best deal possible for your unique needs.

How does Geico stack up against the competition?

Geico has consistently ranked among the top 10 insurance companies for years. So let’s compare it to some of the other top insurers.

Geico vs. Nationwide

Geico and Nationwide tied for third place in our most recent Best Car Insurance Companies ratings. However, Nationwide outperformed Geico in several categories, including customer service, claims handling, and most likely to be recommended.

However, when you compare rates, Geico is typically lower than Nationwide. Nationwide drivers pay $1,327 on average annually, while Geico drivers average $1,148 per year — a savings of $180. For more information, visit our Nationwide car insurance review.

Geico vs. Allstate

Geico beat Allstate in many categories, including customer service, claim handling, and most likely to be renewed. However, Allstate had a higher likelihood of being recommended over Geico.

Drivers should also expect Allstate rates to be up to 44% higher than Geico, with Allstate’s annual average premium at $2,047.

Geico vs. Progressive

Even though Geico and Progressive offer many of the same features and rates, J.D. Power and A.M. Best rate Geico slightly higher. This could be because Progressive’s complaint levels are just a tad higher than Geico’s. However, both rank below the industry average regarding complaints. You can learn more at our Progressive auto insurance review.

What makes Geico auto insurance stand out?

Besides its hilarious commercials, Geico has a lot of reasons to stand out from the competition.

First and foremost, our research shows that Geico offers some of the cheapest auto insurance rates across all categories. Policyholders can take advantage of several discounts and bundling options.

In addition, Geico offers specialty insurance. It is the only known insurer to provide mechanical breakdown insurance, which is basically the same thing as an extended car warranty.

Another stand-out feature of Geico is its DriveEasy program. Drivers with Geico can choose to participate in a usage-based insurance program that rewards good drivers with discounts on their insurance premiums.

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What is Geico’s DriveEasy program?

Many insurance companies, including Geico, offer usage-based insurance programs that monitor your driving habits, usually through an app on your phone, and offer a discount based on your driving.

Geico’s app is called Geico DriveEasy and is available in 26 states.

The mobile app tracks the following driving behaviors:

• Speeding
• Hard braking
• Using your phone while driving
• Acceleration smoothness
• Cornering
• Distance driven and time of day
• Road type

It is also worth noting that while you can get a discount for safe driving using this program, in some states your rates could increase if the app finds you to be a riskier driver.

What other services are offered through Geico?

Geico offers policies not only for your sedan and truck, but also for motorcycles, ATVs, RVs, and boats.

Below is a list of all the additional coverages offered by Geico:

• Rental car reimbursement
• Mechanical breakdown insurance — pays for unexpected repairs should certain parts fail or break down through normal use, similar to an extended car warranty
• Emergency road service
• Online claims submission and tracking with 24/7 availability
• Homeowners and renters insurance
• Commercial auto insurance
• Umbrella insurance (some policies sold by a third party)

In addition, Geico offers these policies through a third party:

• Collector insurance for classic cars
• Condo and co-op insurance
• Mobile home insurance
• Pet insurance
• Life insurance

As you can see, Geico offers just about everything in the insurance world and is happy to bundle insurance policies to help you save money.

Geico Auto Insurance: The Bottom Line

If you’re looking for a top insurance company with affordable rates and reliable customer service, Geico could be a great fit for you. Geico has been in business for almost a century and has high financial ratings from experts in the industry.

Geico offers just about everything you need to cover your vehicle, yourself, your passengers, and much more. Geico offers some of the best rates for teen drivers, drivers with poor credit, and drivers with clean records.

However, drivers with an accident or a DUI on their record might find cheaper rates elsewhere. It’s also worth noting that Geico does not offer GAP insurance.

When comparing Geico car insurance quotes, consider discounts and other savings programs, like DriveEasy. While Geico could be an excellent choice for you, make sure to always shop around with multiple insurers before making your final decision.

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