Geico Car Insurance Review for 2023
Geico ties with Nationwide for the No. 4 spot in our 2023 Best Car Insurance Companies. The company also is in the top five categories including customer service, claims handling, and customer loyalty. Geico is ranked No. 2 for the cheapest average annual rates, coming in lower than the national average.
Geico Pros & Cons
Some of the lowest annual rates on average among companies in our rating
Scores well for customer service, claims handling, and customer loyalty
Offers a wide selection of discounts to increase savings
Rates for drivers with a DUI are higher than most other insurers in our rating
Is Geico Car Insurance Good?
U.S. News Rating
Overall, Geico may be a good choice for many drivers. It offers the second-lowest average annual rates in our study, coming in at about $300 less than the national average. Only USAA has lower rates on average, but USAA only offers insurance to members of the military community and their relatives. Across the subcategories we reviewed, Geico also had some of the lowest rates among insurers in our rating. The company also ranks in the top 5 for such categories as customer service, claims handling, customer loyalty, and likelihood to be renewed or recommended.
Geico Customer Service
Geico lands in the middle when it comes to customer service. Our results, based on a combination of survey responses and other sources, found that it ties for No. 4 with Nationwide, Farmers, and Travelers. When asked if they were completely satisfied with the customer service from Geico, 50% of all respondents said yes. Half of all respondents also said they were completely satisfied with how easy it was to contact Geico’s customer service. These numbers remain roughly the same with respondents who had filed a claim with Geico.
Geico Claims Handling
For claims handling, Geico ties with State Farm, Farmers, and Nationwide at No. 3 in our rating. Regarding filing a claim, 48% of respondents said they were completely satisfied with how easy it was to file a claim and the updates they received on those claims. For claims resolution, 49% of respondents said they were completely satisfied with how their claim was resolved.
Geico Customer Loyalty
In terms of customer loyalty, Geico ties with AAA for No. 4. Among customers who have not filed a claim, 43% said they were very likely to recommend Geico to someone looking for auto insurance, and 55% said they were very likely to renew their policy. For customers who had filed a claim, 42% said they were very likely to recommend Geico to someone looking for auto insurance, and 51% said they were very likely to renew their policy.
How Much Is Geico Car Insurance?
AVERAGE ANNUAL RATE LEARN
||$1,250||Compare Quotes »
||$1,022||Compare Quotes »
|American Family »
||$1,383||Compare Quotes »
|Statsce Farm »
||$1,279||Compare Quotes »
||$1,473||See Review »
According to our study, Geico has the second-lowest average annual rate at $1,250, which is 19% lower than the national average of $1,547. Only USAA has cheaper rates on average, but that company does not offer its products to the general public. While Geico doesn’t have the lowest rates in any one subcategory, it comes pretty close in several categories, such as teen drivers, young adult drivers, and drivers with poor credit. The only exception is drivers with one DUI, where Geico rates are some of the higher rates.
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Geico Rates for Teen Drivers
For teen females, Geico’s rates are nearly $1,586 lower than the national average, and for male teens, the company’s rates are approximately $2,000 less than the national average. USAA, which is available exclusively to members of the military community, offers the lowest rates for teens, coming in at $350 less than Geico for females and nearly $380 less for males. State Farm has the second-lowest rates for female teen drivers, and Geico has the third-lowest. For male teen drivers, Geico has the second-lowest rates, and American Family is third. Geico’s rates are less than half the most expensive rates for teens, which come from Farmers. For female teens, Geico is $4,700 less, and for male teens, Geico is nearly $5,200 less.
Geico Rates for Young Adult Drivers
|25-YEAR-OLD FEMALE||25-YEAR-OLD MALE|
Geico has affordable rates for young adults, coming in at approximately $400 less than the national annual average for females and $500 less than the national average for males. The company has the second-lowest rates in this category among insurers in our rating. For the category, USAA has the cheapest rates, while Farmers has the highest rates for young adults, costing $1,039 more for female young adults and more than $1,200 more for males than Geico.
Geico Rates for Adult Drivers
|35-YEAR-OLD FEMALE||35-YEAR-OLD MALE|
Geico’s sample annual rates are $270 less for females and nearly $250 less for males than the national averages. The lowest rates come from USAA, which are $260 less for females and $300 less for males than Geico’s rates. Premiums for Geico, the second cheapest in this category, are quite a bit lower than Allstate’s, which are the highest. Geico is nearly $900 less for female adults and $827 less for male adults than Allstate.
|60-YEAR-OLD FEMALE||60-YEAR-OLD MALE|
Senior drivers often pay less for car insurance than younger drivers. Geico’s average annual rates for female seniors are $179 less than the national average and $174 less than the national average for males. Geico rates are higher than USAA, which has the cheapest rates for seniors, and slightly higher than State Farm, which had the second-lowest rates in this category. USAA rates are nearly $300 less for females and approximately $325 less for males than Geico’s rates. Allstate’s sample annual rates, which are the most expensive, are $765 higher for females and $754 higher for males than Geico.
|RATE AFTER ONE SPEEDING TICKET|
Drivers with a speeding ticket on their driving record typically have higher car insurance rates than drivers with a clean record. Even so, Geico’s rates for a driver with one speeding ticket are $324 less than the national average, and the third-lowest in our study. Geico’s rates are higher than USAA’s rates, which are the cheapest we found, and State Farm’s, which are second-lowest. USAA is $379 less than Geico for drivers with a speeding ticket on their record. Farmers, the most expensive insurer in this category on average, is $1,048 more than Geico.
|RATE AFTER ONE ACCIDENT|
When a driver has an accident, insurance companies often raise their car insurance rates. For drivers with one accident on their driving record, Geico’s average annual rates are $263 lower than the national average. However, they are approximately $500 more than USAA, which has the lowest rates for drivers after an accident, and fifth-lowest overall among insurers we studied. But Geico’s rates are $1,258 less than Farmers, which has the highest sample rates for drivers with an accident.
|RATE AFTER ONE DUI|
Insurance companies typically charge some of the highest rates for drivers with a DUI on their record. This is the one category where Geico’s rates are some of the highest. They are $374 higher than the national average and $1,332 higher than State Farm, which has the lowest rates for drivers with a DUI on their record. Geico’s rates are $939 less than AAA’s rates, which are the highest in the category.
|RATE FOR POOR CREDIT|
A driver’s credit score is one of many factors insurance companies use to determine car insurance rates. Geico does have lower rates than the national average, specifically $919 less. Geico’s rates are the second-lowest for the category, behind only USAA, which has rates of $82 less than Geico’s. Nationwide and Travelers are No. 4 and No. 5, respectively, in this category. AAA has the highest rates for drivers with poor credit, coming in at approximately $2,000 higher than Geico’s rates.
|RATE FOR LOW COVERAGE|
Drivers who want to save money on car insurance often purchase the state-mandated minimum amount of liability coverage. With Geico, drivers who buy minimum coverage pay $336 less per year than the national average. Geico’s rates are the second-lowest in the category behind USAA. Specifically, USAA’s rates are $171 less than Geico’s rates for minimum coverage. Farmers and Allstate have the most expensive average annual rates for minimum coverage, separated by just $1. Their rates are approximately $880 more than Geico’s rates for minimum coverage.
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|RATE FOR HIGH COVERAGE|
Purchasing higher levels of car insurance coverage results in higher premiums. Higher levels of coverage can include additional protections, such as coverage against bodily injury, and in some states, property damage caused by uninsured or underinsured motorists. Geico offers some of the lowest rates for the category. Geico’s rates are $269 lower than the national average but $290 more than USAA, which has the lowest rates for the category. Geico is third in this category, with annual premiums only $1 cheaper than the No. 2-rated State Farm, according to our study. Both are nearly $900 less than Allstate, which has the most expensive rates for drivers who buy high coverage.
Geico offers an array of discounts to help customers save when buying car insurance. Despite that, only 40% of respondents in our survey said they were completely satisfied with the policy discounts offered by Geico. For respondents who have filed a claim with Geico, that number drops to 38%. Discounts available from Geico include the following:
- Air bag discount
- Anti-Lock brakes discount
- Anti-Theft system discount
- Daytime running lights discount
- New vehicle discount
- Good driver discount
- Seat Belt use discount
- Defensive driving discount
- Driver’s educational course discount
- Good student discount
- Emergency deployment discount
- Federal employee discount
- Membership and employee discounts
- Military discount
- Multi-vehicle discount
- Multipolicy discount
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Geico vs. State Farm
Geico is No. 2 and State Farm is No. 3 when it comes to the lowest national annual average rates. When looking at subcategories, their rates are close in many categories. Exceptions include drivers with poor credit, where State Farm’s rates are more than $1,500 higher than Geico’s rates. With drivers who have one DUI, Geico has more expensive rates than State Farm. According to our analysis, State Farm ties No. 2 and Geico ties No. 4 in the category of customer service. The companies tie for No. 3 for claims handling. Regarding customer loyalty, State Farm edges out Geico, with State Farm at No. 3 and Geico at No. 4. Both companies are at No. 3 for most likely to be recommended to others. When it comes to the likelihood of renewal, State Farm ties for No. 3, and Geico is No. 5.
Learn more in our State Farm review.
Geico vs. Nationwide
According to our analysis, Geico has the second-lowest national average annual rates, while Nationwide is No. 6. A closer look at subcategories shows Geico typically has lower rates than Nationwide, although the margin may vary from category to category. The only exception is drivers with one DUI, with Geico and Nationwide having the same rates, on average. A look at ratings shows Geico and Nationwide pretty evenly matched again. The companies tie for No. 4 in our Best Car Insurance Companies for 2023 rating and are also tied for customer service. Geico and Nationwide also tie for No. 3 regarding claims handling. There’s more disparity in terms of customer loyalty. Geico ties for No. 4, while Nationwide ties for No. 6. Both companies tie for No. 3 for most likely to be recommended. For most likely to be renewed, Nationwide ties for No. 3 while Geico ties for No. 5.
Learn more in our Nationwide review.