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Geico rated 9.1 out of 10.0 points in 2022 based on price, coverage, availability, reputation and reviews and identified as “affordable for most drivers.”
Average Geico Car Insurance Cost Per Month
At Home Media, we review Team Rate Geico, which ranks among the industry’s top car insurers for its strong financial ratings, broad coverage and client-facing practices. In this article, we’ll discuss Geico’s costs, coverage, and customer satisfaction in auto, home, and life insurance.
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When you shop for car insurance from top home insurance companies, we recommend comparing prices to get the best deal.
Why We Trust Our Team The Home Media Review team is committed to providing reliable information to help you make the best possible decision regarding your car insurance. Our researchers, writers and editors are dedicated to researching providers and analyzing customer feedback and insights so you can choose with confidence.
We rate the Geico 9.1 out of 10.0 and call it affordable for most drivers in 2022. The company’s overall score of “9.1” was gathered from Geico’s performance in five critical areas: cost, coverage, reputation, availability and customer experience.
Geico, the nation’s second largest auto insurance company, offers a wide range of coverage options and excesses. Our Geico insurance review also found that the company’s average rates are 24% cheaper than the national average for good drivers.
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Professionals A++ financial strength rating from AM Best and A+ rating from the Better Business Bureau (BBB) Low car insurance rates for most drivers High policy limits Usage-based insurance discounts Top-rated mobile apps
The opposition averaged J.D. Power claim ratings are not always cheaper for people with poor credit or a recent accident Fewer local agents than other companies
Geico was founded in 1936 to provide low-cost insurance to federal employees, but has since offered policies to all drivers. According to the National Association of Insurance Brokers (NAIC), the auto insurance giant held a 14.31% market share in 2021 and wrote about $37.4 billion in insurance premiums. The only provider larger than Geico is State Farm.
Geico Insurance reviews from policyholders are generally positive. Many customers appreciate the company’s knowledgeable insurance agents for making the claims process easy and hassle-free. Other reviews mention that the billing and policy change processes are easy.
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While reviews of Geico are overwhelmingly positive, there are also negative reviews. Common themes discussed include long wait times when contacting customer service and lack of communication between insurance adjusters, body shops, and the customer when dealing with claims.
In August 2022, we conducted a nationwide car insurance satisfaction survey of 6,923 people. 16% of respondents reported having a Geico car insurance policy, making it the third most popular provider in our survey.
We also found that 40% of Geico policyholders claimed, while about 60% did not. Overall, respondents with Geico insurance policies were satisfied with the company’s customer service during the claims process and gave the company 4.2 out of 5 stars. Additionally, respondents gave the company 4.1 stars for satisfaction with the outcome of the request or settlement.
J.D. Power 2022 US According to the Auto Insurance Study℠, Geico has a good reputation for customer service, with particularly strong ratings in the Central, New England, North Central, Northwest and Southwest regions.
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Giko, J.D. Power 2022 scored slightly below average in the Insurance Shopping Study SM at 853 (the average for large insurers was 863). The study surveyed customers to determine satisfaction at each stage of the shopping experience.
Our team reached out to Geico for comment on these scores but did not receive a response.
Geico has a BBB rating of A+, with 1.16 stars out of 5.0 from customers. While that may seem like a low score, just over 800 customers have left reviews for the company, a small fraction of its customer base.
Geico’s mobile app is highly rated for filing insurance claims and viewing policy details. 4.6 out of 5 stars on Google Play (based on over 441,000 reviews) and 4.8 out of 5 stars on the App Store (based on over 3.3 million reviews).
Geico Car Insurance Coverage Calculator
Geico offers all types of standard auto insurance and some of the highest policy limits in the industry (up to the millions). Whether you’re looking to purchase bodily injury and property damage liability coverage or a full coverage policy, with Geico you can find the coverage you need. Standard coverage options include:
Geico policies can be purchased for motorcycles, ATVs, RVs, boats and storage, as well as personal cars. In addition to the coverage options listed above, Geico offers the following add-ons:
Compared to other auto insurance companies, Geico stands out for its mechanical breakdown coverage, which is not a common offering.
Geico pays damages by check after the accident investigation is complete, minus repairs. If your car is totaled and you still owe the loan, Geico will pay the lender directly.
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Many insurance companies, including Geico, offer usage-based insurance discounts. These programs monitor your driving habits and offer premium discounts to good drivers. Geico’s usage-based insurance app is called DriveEasy and is available in the following states and territories:
According to our Geico rate estimates, 35-year-old drivers with good credit and a clean driving history pay $1,308 a year for full coverage car insurance, or an average of $109 a month. This is about 24% lower than the national average of $1,730 per year, making it one of the cheapest providers of car insurance for many drivers.
As with any car insurance company, the car insurance quote you get from Geico will depend on many factors. If you have poor credit, you’ll pay more for car insurance if you don’t live in California, Hawaii, Massachusetts or Michigan. If you have a bad driving record or you are a young driver, your insurance will be more expensive.
Your age significantly affects your car insurance costs. The younger you are, the more you usually pay for coverage. According to our research, Geico charges significantly less than the average national average for full coverage insurance policies.
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The table below shows average monthly and annual cost estimates for a Geico policy broken down by age.
If you’re a young driver or don’t have a good driving record, you’ll typically pay more for an auto insurance policy from Geico. Here are some odds estimates based on these factors:
Geico is one of the more affordable national providers on the market. Here’s how the company compares with eight leading providers:
The table below shows how Geico performs against both regional and national providers in terms of average monthly and annual costs. The full coverage rates below are for 35-year-old drivers with good credit and a clean driving record.
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While Geico’s rates are lower than average, there are instances when some drivers pay more for insurance coverage than others. Geico’s car insurance rates are affected by a variety of factors, some of which are within your control. Understanding what factors affect car insurance rates can help you get the best deal.
Compared to other top providers, Geico typically has higher auto insurance discounts, including special savings for military service members and federal employees. Policy deductibles are different for each discount.
Get up to 15% off if you’re on active duty, retired from the military, or a member of the National Guard or Reserves.
Get discounts on medical payments (MedPay) or personal injury protection (PIP) if you and your passengers wear seat belts.
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Get a 3% discount on certain insurance coverage if your vehicle is equipped with daytime running lights.
Geico does not charge a cancellation fee. You can call 800-841-1587 to cancel your policy over the phone. Be sure to plan to get insurance if you still own the vehicle to avoid delays in coverage.
Geico does not specify refund processing times on its website. If you pay by check, which is usually the slowest method, it can take up to 30 days to get a refund. If you use a debit or credit card to pay for your policy, you may receive a refund within a week or two.
You can reach Geico’s claims department at 800-841-3000. Geico customers can file a claim anytime through the mobile app or online at geico.com/claims.
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Just like car insurance, Geico’s home insurance costs are affordable for most homeowners. Our research shows that Geico is trending below the national average of $1,249 per year, the most recent amount reported by homeowners to the NAIC in 2018.
We reached out to Geico for some home insurance quotes so you can understand how much you could be paying. Keep in mind that your home insurance costs can vary depending on your situation. For these estimates
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