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The Geico has a score of 9.1 out of 10.0 and is recognized as “affordable for most drivers” in 2022 based on cost, coverage, availability, reputation and reviews.
How Much Does Geico Car Insurance Cost A Month
The Home Media review team ranks Geico as a top auto insurance company in the industry for its strong financial ratings, comprehensive coverage, and customer-first practices. In this article, we’ll discuss costs, coverage and customer satisfaction across Geico auto, home and life insurance.
Geico Insurance Hi Res Stock Photography And Images
When shopping for auto insurance from the best homeowners insurance companies, it’s a good idea to compare prices to get the best deal.
Why you should trust our team The Home Media Review team is dedicated to providing you with reliable information that will help you make the best decisions regarding your car insurance. Our researchers, writers and editors are dedicated to researching providers and analyzing customer feedback and insights so you can make confident choices.
Geico has given it a rating of 9.1 out of 10.0, making it affordable for most drivers in 2022. The company’s overall rating of “9.1” was compiled from Geico’s performance in five key areas: cost , coverage, reputation, reach and customer experience.
As the second largest auto insurance company in the United States, Geico offers a variety of coverage options and add-ons. Our Geico insurance survey also found that the company’s average rates tend to be 24% lower than the national average for good drivers.
Geico Insurance Review (2022)
Benefits AM Best A++ financial strength rating and Better Business Bureau (BBB) A+ rating Low car prices for most drivers High policy limits Usage-based insurance discounts Highly rated mobile app
Cons: JD Power’s average application rate isn’t always the cheapest for people with bad credit or recent accidents. Fewer local agents than other companies
Geico was founded in 1936 to provide low-cost insurance for federal employees, but since then, insurance has been available to all drivers. According to the National Association of Insurance Commissioners (NAIC), auto insurance giants accounted for 14.31% of the market share in 2021, accounting for nearly $37.4 billion in premiums. State Farm is the only supplier larger than Geico.
Geico insurance reviews from policyholders are generally positive. Many customers recommend the company’s experienced insurance agents for making the application process easy and smooth. Other reviews say the billing and policy change process is simple.
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Geico reviews are overwhelmingly positive, but there are also negative reviews. Common themes describe the long wait times when contacting customer service and the lack of communication between insurance coordinators, auto repair shops and customers when dealing with damages.
In August 2022, a national car insurance satisfaction survey was conducted targeting 6,923 people. Of those who participated, 16% of respondents said they had Geico auto insurance, making it the third most popular provider in the survey.
We also found that 40% of Geico policyholders filed a claim, while nearly 60% did not. Overall, respondents with Geico insurance were satisfied with the company’s customer service during the application process, rating the company 4.2 out of 5.0 stars. Participants also gave the company 4.1 stars for their satisfaction with a billing or settlement outcome.
Geico J.D. Energy 2022 U.S. According to the Auto Insurance Study℠, the Central, New England, North Central, Northwest and Southwest regions have a good reputation for customer service, with particularly high ratings.
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Geico J.D. Energy 2022 U.S. It scored slightly below average on the SM Insurance Shopping Survey of 853 (the average for large insurers was 863). This study surveyed customers to determine their satisfaction with each stage of the shopping experience.
Our team reached out to Geico to get feedback on this score, but there was no response.
Geico is rated A+ by BBB and has a rating of 1.16 out of 5.0 stars from customers. This may seem like a low rate, but just over 800 customers have reviewed the company. This is a very small part of our customer base.
The Geico mobile app for submitting insurance claims and viewing policy details is highly rated. 4.6 stars on Google Play (based on over 441,000 reviews) and 4.8 out of 5.0 stars on the App Store (based on over 3.3 million reviews).
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Geico offers standard auto insurance of all types and the highest insurance limits in the industry (up to millions). Whether you want personal injury and property damage coverage or you want to purchase a full coverage policy, Geico has the coverage you need. Standard coverage options include:
The Geico policy can be purchased for motorcycles, ATVs, RVs, boats and collectibles as well as personal cars. In addition to the coverage options above, Geico offers the following additional features:
Compared to other auto insurance companies, Geico stands out for its mechanical failure coverage rather than a standard offering.
Geico pays the claim by check minus the deductible for repairs after the accident investigation is complete. If your vehicle is totaled but you still have a loan, Geico will pay your lender directly.
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Several insurers, including Geico, offer usage-based insurance discounts. The program monitors driving habits and offers premium discounts to good drivers. Geico’s usage-based insurance app is called DriveEasy and will be available in the following states and regions:
According to our Geico rate estimates, a 35-year-old driver with good credit and a clean driving record would pay $1,308 a year or an average of $109 a month for fully insured auto insurance. This is about 24% less than the national average of $1,730 per year, making it one of the cheapest car insurance providers for many drivers.
As with other auto insurance companies, the auto insurance quote you get from Geico depends on several factors. If you have bad credit, you will pay more for car insurance unless you live in California, Hawaii, Massachusetts or Michigan. If you have a bad driving record or are young, your insurance will be more expensive.
Age has a big impact on the cost of car insurance. The younger you are, the more premiums you usually pay. Our research shows that Geico, on average, tends to charge significantly less than the national average for their entire coverage policy.
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The table below shows the average estimated monthly and annual costs for Geico policies, broken down by age.
If you are a young driver or have a bad driving record, you will usually pay more for Geico car insurance. Here are some estimated rates based on these factors.
Geico is one of the cheapest domestic suppliers on the market. Here’s a comparison of the company with eight major suppliers.
The table below shows how high Geico ranks compared to regional and national providers in terms of average monthly and annual costs. The total coverage percentages below are for 35-year-old drivers with good credit and a clean driving record.
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Geico rates are lower than average, but some drivers may pay more for coverage than others. Geico auto insurance rates are affected by several factors, some of which you can control. Understanding the factors that affect car insurance premiums can help you make sure you get the best deal.
Compared to other major providers, Geico typically offers more auto insurance discounts, including special discounts for military and federal employees. Policy deductibles for each discount are different.
If you are active duty, retired, National Guard or Reserve, you can get a discount of up to 15%.
Get a discount on your medical expenses (MedPay) or Personal Injury Protection (PIP) if you and your passengers use seat belts.
Geico Car Insurance Coverage Calculator
Get a 3% discount on special car insurance if your vehicle has daytime running lights.
Geico does not charge any cancellation fees. You can cancel the policy over the phone by calling 800-841-1587. If you still own the vehicle, you should have a plan to keep it insured until the coverage expires.
Geico does not specify a refund processing time on its website. If you paid by check, usually the slowest method, it can take up to 30 days to get your payment back. If you paid for your policy with a debit or credit card, you should expect a refund within 1-2 weeks.
You can contact Geico’s account department at 800-841-3000. Geico customers can submit a claim at any time through the mobile app or online at geico.com/claims.
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Like auto insurance, Geico home insurance costs are affordable for most homeowners. Our research shows that Geico tends to be below the national average of $1,249 a year, the most recent amount reported to NAIC by homeowners in 2018.
We’ve asked Geico for some home insurance quotes to give you an idea of what you can expect to pay. Home insurance costs can vary depending on your situation. This estimate is for:
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