GEICO Insurance Review

GEICO Insurance is one of the most popular insurance companies in America for a reason: it offers competitive prices, excellent customer service, and comprehensive coverage options.

Let’s review some of the unique features of GEICO’s auto insurance product, here’s our GEICO Insurance Review.

GEICO Pros and Cons

GEICO Insurance Review - GEICO Logo

Pros

  • AM Best emphasized the firm’s financial soundness..
  • Wide geographic availability.
  • Plentiful opportunities for savings, including multi-line bundling discounts. 

Cons

  • GEICO is among the cheapest car insurance companies, but USAA may best GEICO’s rates for those who qualify. 

GEICO car insurance review

GEICO was founded in 1936 and is the second-largest insurance company in the United States. GEICO provides a range of insurance products, including vehicle and motorbike insurance.

While GEICO is well-known for its inexpensive vehicle insurance rates, low premiums do not always translate into bad customer service. Continue reading to learn more about GEICO vehicle insurance in our 2021 review.

  • Claims satisfaction (J.D. Power) — Average: According to J.D. Power, GEICO ranks average in terms of total claim satisfaction.
  • Customer satisfaction (J.D. Power) — Average: In J.D. Power’s 2021 survey of insurance company customer satisfaction, GEICO got an average rating. 
  • Financial strength — Superior: GEICO has a high financial strength rating from AM Best, which means that policyholders should not fear the company’s capacity to pay claims.
  • NAIC Rating — Average: The complaint rating assigned by the NAIC is based on the overall number of consumer complaints received. GEICO placed in the middle of the pack in this statistic.

In all 50 states and Washington, D.C., GEICO insurance coverage are available.

GEICO car insurance coverage options

GEICO offers all of the typical auto insurance coverage choices, including the following:

  • Liability coverage
  • Property damage
  • Collision coverage
  • Comprehensive coverage

Emergency road service

You may add GEICO’s roadside assistance to your comprehensive coverage if you have it. This coverage entitles you to assist with the following:

  • Jumpstarts for dead batteries
  • Labor to change a tire
  • Lockout services

Rental reimbursement. 

This optional coverage pays for costs incurred if your vehicle is rendered undrivable as a result of a covered claim. GEICO excludes natural wear and tear and mechanical concerns by insuring against only “covered claims.” This will give you a rental automobile for the specified number of days under your policy.

Mechanical breakdown insurance.

GEICO is one of the few automobile insurance providers that offer mechanical breakdown coverage (MBI). MBI operates as an extended warranty, protecting your vehicle against a variety of mechanical issues not covered by a normal auto insurance policy. This does not include damage sustained in an automobile accident. MBI has a deductible.

Accident forgiveness

GEICO offers an extra insurance enhancement called accident forgiveness. Your premium will not rise following your first at-fault collision with this policy. GEICO’s accident forgiveness program is policy-specific, with a limit of one usage per policy period.

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Prices vary based on your driving history, location, age, gender, etc.

GEICO rideshare insurance

If you work for a ridesharing business such as Uber or Lyft, GEICO offers insurance to protect your car.

Other firms covered by GEICO’s ridesharing coverage include the following:

  • Amazon Flex
  • Grubhub
  • DoorDash
  • Instacart
  • Postmates
  • Uber Eats

GEICO car insurance discounts and reward programs

Discounts based on the vehicle:

  • Airbags: 25-40% savings
  • Anti-lock brakes: 5%
  • Anti-theft system: 25%
  • Daytime running lights: 1%

Discounts based on the driver

  • Good driver: up to 26% —You may get this excellent driver discount if you have a clean driving record for at least three years.
  • Seatbelt use: 15% — This discount is applicable to either your medical or personal injury coverage. You and your passengers may earn up to 15% off if you and your passengers always wear your seatbelts.
  • Good student: 15% — If you or your student is between the ages of 16 and 24 and has a GPA of ‘B’ or above, you can save up to 15%.
  • Driving education course: variable discount — If you’re a new driver, completing a driver’s education course might qualify you for a discount on the majority of insurance.
  • Defensive driving: varies by state — If you successfully complete a defensive driving course, you may qualify for a reduction on your insurance coverage.
  • Emergency deployment: 25% — If you are a member of the military and are deployed, you may qualify for a discount on your whole vehicle insurance coverage.
  • Member and employee discounts: variable — Certain employers and memberships have relationships with GEICO which can earn you a discount. These can be based on occupation — such as police officers and firefighters — or alumni organizations.
  • Military discounts: 15% — Active and retired military members can earn up to 15% off an insurance policy with GEICO.
  • Federal employee discount: 8% — If you’re an active or retired federal employee, you qualify for the eagle discount by GEICO. In order to qualify, you need to be a GS-7 or above. This is available in most states.

Discounts for bundling or insuring multiple cars

  • Multi-policy discount: variable — Bundling several policies with GEICO, such as your vehicle and homes insurance, may qualify you for a discount. Bundling is an excellent method to save money on insurance. GEICO provides a variety of such bundles, including house and vehicle insurance, renters and auto insurance, and condo and auto insurance. Bundling insurance also provides extra convenience. Bundling your home and vehicle insurance policies might help you save money on your monthly expenses. Consult an insurance agent to determine whether you can have all of your insurance requirements covered by the same provider.
  • Multi-vehicle discount: 25% — By insuring several vehicles with GEICO, you may save up to 25% on your total coverage.

GEICO telematics and mobile app

GEICO DriveEasy

Varies. DriveEasy is GEICO’s telematics service that assigns a driving score to you based on your driving behaviors. Once installed on your smartphone, the mobile software detects and monitors your motions and analyzes your driving abilities in order to help you become a better, safer, and more defensive driver. It may be a viable alternative for teenagers and other inexperienced drivers in the family.

  • Senior driver discount: discount varies — You may qualify for this discount if you are over the age of 50, have not been involved in an accident in the last three years, and do not have any drivers under the age of 25 on your policy.

Where is GEICO auto insurance cheapest?

Among the 50 states that provide GEICO auto insurance, the following ten states offer the most affordable GEICO policies:

  • Wisconsin. $45
  • Arizona. $55
  • New Hampshire. $59
  • Ohio. $62
  • Iowa. $67
  • Utah. $68
  • Maine. $69
  • North Carolina. $71
  • Colorado. $72
  • Illinois. $72