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  • Nicholas Hinrichsen

Geico Car Insurance: A Complete Review

Updated: Aug 13

Shopping for an auto insurance provider can feel stressful and overwhelming because of the multitude of companies available to choose from. This article will focus on one of the leading companies in car insurance, Geico.


We will answer the following questions:

  • What are people saying about Geico Car Insurance?

  • How much does Geico Car Insurance cost?

  • Does Geico Car Insurance offer any discounts?

  • What causes your Geico Car Insurance rate to increase?

  • What are the different coverage types that Geico Car Insurance offers?

  • How do I file a claim with Geico Car Insurance?

  • How do you get Geico Car Insurance?

Geico Car Insurance: A Complete Review


Geico, or initially named “Government Employees Insurance Corporation,” is an insurance company originally established by Texas’ Leo and Lillian Goodwin to provide affordable auto insurance for military members and federal employees. The company has since been acquired by Warren Buffet’s Berkshire Hathaway and now stretches over all 50 states. This gecko-advertised insurance company focuses its advertising on saving its customers time and money. This ideology is exemplified by their popular slogan, “save 15 percent or more on car insurance”. Geico offers a wide portfolio of insurance policies from life insurance, to renters insurance, to motorcycle insurance, and everything in between.


Geico was ranked 2nd behind USAA in the U.S. News’ Best Insurance Companies 2020 list with a 4.17 rating out of 5. U.S. News reflects a positive rating for Geico insurance as 70% of participants in their study reported that they were either satisfied or completely satisfied with how Geico resolved their claims. One participant even praised Geico for their, “very good service, fast, friendly.” Nerdwallet.com rates Geico 5 out of 5 stars due to their pricing, discounts, ease of filing a claim, website transparency, financial strength, and complaint data from the National Association of Insurance Commissioners.


On the other hand, Geico has a few unhappy customers. For example, in the U.S. News’ survey of 100 people, about 15% reported that they are unlikely or very unlikely to recommend Geico insurance. These participants claim high premiums and slow customer service.


Overall, 73% of participants claimed that they plan on renewing with Geico, while 14% claimed they would look elsewhere for insurance. Also, J.D. Power rated their customer service #20 out of #24 and granted them a 2.5 out of 5 ratings.

A summary of the pros and cons of Geico car insurance, according to the U.S. News, are:


Pros

  • Easy to file a claim

  • Good value for the money

  • Study rates are lower than average

  • High customer satisfaction

  • Strong financial rating from A.M. Best

Cons

  • Claim updates can be spotty

  • Sometimes hard to contact an agent

  • Pricey representative premium with a DUI

How much does Geico Car Insurance cost?


Geico prides itself on providing cheap car insurance rates for the most coverage. In other words, Geico claims to be the best, “bang for your buck” when it comes to the world of cheap auto insurance policies. Insurance rates depend on a few factors such as age, gender, marital status, credit history, the type of coverage you are requesting, your vehicle’s annual mileage, and your driving record.


Geico’s policy average rate is $1,168, which is very affordable when compared to other auto-insurers such as Allstate’s $1,880 average annual insurance rates, Nationwide’s $1,864 average annual insurance rate, or State Farm’s $1,234 average rate. Use the Geico Coverage Calculator to get a free insurance quote. Below are some average car insurance rates to help you get an idea without calculating an exact insurance quote.


Geico Average Car Insurance Rates by U.S. News:

Does Geico Car Insurance offer any discounts?


GEICO Insurance Discounts

Ways to Get a Lower Auto Insurance Premium

  • Add multiple cars or drivers to your auto policy

  • Combine auto and home policies

  • Pay for your policy in full

  • Complete a defensive driving course

  • Be a good student (student drivers)

  • Keep a clean driving record

  • Update your policy information regularly

  • Review your limits and deductibles

  • Inform GEICO of safety and anti-theft devices on your car

  • Airbags, seatbelts, anti-lock brakes and anti-theft systems

What causes your Geico Car Insurance rate to increase?


When GEICO sets your insurance premium, they take into account vehicle drivers as a whole group in order to spread the risk amongst all drivers. Some broad factors that might be influencing your insurance premium include the increase in the cost of medical care, cellular devices causing more accidents, lower gas prices cause more driving (which results in more accidents) and newer cars make repairing new technology more costly.


As a policyholder, your car insurance rate can also go up due to individual factors:

  • Change in Coverage

  • Driving Record

  • Accident claims

  • Speeding tickets

  • Your driving record also affects your eligibility for GEICO discounts

  • Life Events

  • Moving locations will cause either an increase or decrease in your premium

  • Marriages, new drivers, and birthdays can affect your rates

  • New Car

  • High repair costs

  • Enhanced safety features

What are the different coverage types that Geico Car Insurance offers?


GEICO’s website debunks the myth that an insurance company can grant “full coverage.” Instead of trying to find the mythical “full coverage,” find the right insurance coverage that fits your lifestyle.


When shopping for insurance, you should think about:

GEICO offers a wide variety of insurance products such as:

Liability Coverages

  • Bodily Injury liability:

  • If you are at fault, this covers the pay for bodily injury damages or death.

  • Property Damage liability:

  • If you are at fault, this covers the pay for damage to someone else's property.

  • Umbrella Policy: This covers more serious accidents to which you are found at fault.

Medical Coverages

  • Medical Payments coverage:

  • Covers medical expenses from a car accident.

  • Personal Injury Protection coverage: May cover your medical treatment, lost wages, and more (does not matter who caused the accident).

Uninsured Motorist Coverages

  • Uninsured Motorist coverage:

  • Compensates you for injuries or damage caused by a driver without insurance.

  • Underinsured Motorist coverage: Protects you from at-fault drivers with insufficient insurance coverage to pay your claim.

Vehicle Coverages

  • Collision coverage: may pay for damage to your car when it hits, or is hit by, another vehicle or other object

  • Comprehensive coverage: may pay for damage to your car from theft, vandalism, flood, fire or other covered losses

Additional Auto Insurance Coverages

If you have questions, call a licensed GEICO insurance agent at (800) 861-8380.


How do I file a claim with Geico Car Insurance?


Watch this video for the step-by-step process of what you should do after an accident:


Accidents happen, but it is imperative that you report your claim as soon as possible. To report a claim, you can:

Once you have filed your claim, you will be prompted to schedule a damage inspection at a repair shop. If you cannot drive, a GEICO adjuster will meet you at the scene for roadside assistance. This damage inspection will take about 30 minutes.


How do you get Geico Car Insurance?


You can find your nearest GEICO office and be assigned your own GEICO Insurance Agent here. Once you have accessed your personal agent’s page, you can contact them by phone or email. They will also have their office address posted and their available hours. Due to Covid-19, office hours may vary, so be sure to call ahead.


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Are you exploring ways to save on car insurance? You can also save big on refinancing your car loan. WithClutch.com is a fully digital platform that lets new car owners like you lower their car payments from the comfort of their own home. No need to set a foot in a bank or credit union. You can lower your rate or get cash in as little as 20 seconds.


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