GEICO boasts a well-known name across the country for automobile insurance. And that’s no surprise since it’s one of the most affordable car insurance providers in America.
What sets the nation’s No. 2 car insurer apart from others is GEICO’s customer service and user-friendly mobile app and web services. If you consider going with GEICO for your car insurance, you’ll need to know what the company offers, what you can expect to pay, and customer satisfaction.
Car Insurance Types with GEICO
GEICO provides common auto insurance coverage like:
- Comprehensive
- Collision
- Liability
- Uninsured/underinsured motorist
- Property damage
- Medical payments
- Personal injury protection
The company also offers a variety of additional coverage options. A notable example is the Prime Time Contract, which GEICO awards to motorists over 50 years old in select states, including Alabama, Alaska, Iowa, Maryland, Minnesota, New Mexico, Ohio, Oregon, Tennessee, and more.
Drivers with PrimeTime can renew their policy as long as no drivers under the age of 25 need to be on the policy. You also must keep a good driving history for the past three years and not use your vehicle for business purposes.
Additional coverage plans and services include:
- Auto Repair Xpress®: Offers customers a network of repair shops that work with GEICO.
- Mechanical breakdown insurance (MBI): Covers all new car repairs for vehicles up to 15 months old or less than 15,000 miles. It takes care of repairs such as engine or transmission but does not cover mechanical failures.
- Rideshare: Extends coverage to vehicles you drive for a rideshare service such as Uber and Lyft. It also covers those driving for companies like GrubHub and Instacart. The only drawback to this coverage is that it is not available in all states. If you are in New York, New Jersey, California, or North Carolina, you might not have access to it.
- Emergency road service: This coverage assists in case of a roadside emergency. It covers flat tires, locksmith services, towing, and other services.
- Accident forgiveness: Ensures that your coverage will not increase after you get into your first accident (after getting a GEICO policy). To get this service, however, your driving history for the past three years must be spotless. Like rideshare, this coverage is not available everywhere, and if you live in California or Massachusetts, you might not be able to add it to your plan.
More add-on insurance options include:
- Glass coverage
- Rental reimbursem*nt
- Commercial auto
Besides car insurance, GEICO also provides life, home, and even jewelry coverage options.
What are the Benefits of GEICO Insurance?
If you are looking for online service, GEICO’s mobile app provides this service with ease. It’s user-friendly, and so is their website service option.
GEICO Discounts
GEICO offers breaks similar to those offered by competitors. These include lower costs to those who qualify as a safe driver or good student or if the insured takes a defensive driving program and remains accident-free for five years.
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More Ways to Lower Insurance Costs:
- Federal employee discount: GEICO, an acronym for Government Employees Insurance Company, originated as a government and military insurance company. So it is only natural that GEICO provides discounts for such personnel. This type of discount gives current or retired federal employees 8% off on their coverage plans.
- Military discount: Gives active or retired military and National Guard members 15% off.
- Vehicle equipment: Customers whose vehicles have airbags, anti-lock brakes, an anti-theft system, or daytime running lights get up to a 25% off on coverage plans.
How Much Does GEICO Car Insurance Cost?
Several factors can influence the price of your GEICO insurance premium. Age and gender play a significant role, as young drivers are more likely to get into accidents, while statistics show women are more conscious of their driving habits.
Using data Kelley Blue Book obtained from Savvy, the average monthly cost for a GEICO policy is $190.25. Savvy collects data from consumers’ current policies, including rate information, age, marital status, and other demographics.
The statistics offer a representative sample used as a general guide. See more about Savvy’s methodology.
Let’s take a closer look at how demographics play into car insurance.
| Average Monthly Cost | |||
| Age Group | Gender | Marital Status | Value |
| 25 to 34 | female | married | $177.97 |
| 25 to 34 | female | single | $185.94 |
| 25 to 34 | male | married | $182.02 |
| 25 to 34 | male | single | $185.12 |
| 35 to 49 | female | married | $215.29 |
| 35 to 49 | female | single | $191.23 |
| 35 to 49 | male | married | $204.69 |
| 35 to 49 | male | single | $177.63 |
| 50 to 69 | female | married | $230.57 |
| 50 to 69 | female | single | $191.44 |
| 50 to 69 | male | married | $232.89 |
| 50 to 69 | male | single | $182.95 |
| 70 or Above | female | married | $203.18 |
| 70 or Above | female | single | $207.30 |
| 70 or Above | male | married | $187.22 |
| 70 or Above | male | single | $193.21 |
Source: Savvy
Single males between 35 and 49 years old and married women ages 25 to 34 can expect to pay $177 on average for an insurance policy per month. Right behind them are males ages 25 to 34, paying $182.02 on average every month.
| Average Annualized Per Operator | |||
| Age Group | Gender | Marital Status | Value |
| 25 to 34 | female | married | $2,103.49 |
| 25 to 34 | female | single | $2,188.59 |
| 25 to 34 | male | married | $2,145.44 |
| 25 to 34 | male | single | $2,175.50 |
| 35 to 49 | female | married | $2,561.57 |
| 35 to 49 | female | single | $2,271.24 |
| 35 to 49 | male | married | $2,438.18 |
| 35 to 49 | male | single | $2,089.69 |
| 50 to 69 | female | married | $2,754.08 |
| 50 to 69 | female | single | $2,266.03 |
| 50 to 69 | male | married | $2,774.67 |
| 50 to 69 | male | single | $2,177.12 |
Source: Savvy
How Location Plays a Role
Driver location also plays a role and might influence the discounts you are likely to receive. Let’s take a look.
According to The Zebra, drivers in 10 states can expect to pay less than $75 in monthly premiums.
| State | Average Monthly Insurance Premium |
| Wisconsin | $45 |
| Arizona | $55 |
| New Hampshire | $59 |
| Ohio | $62 |
| Iowa | $67 |
| Utah | $68 |
| Maine | $69 |
| North Carolina | $71 |
| Colorado | $72 |
| Illinois | $72 |
Source: The Zebra
Other Factors That Impact Car Insurance Rates at GEICO?
A variety of factors impact your GEICO auto insurance quote. In addition to age, gender, marital status, and location, your driving history, and credit score can, too.
DUIs
According to The Zebra, GEICO gets expensive when it comes to DUI penalties. An individual insured with GEICO can expect to pay an average of $1,276 for an annual policy. With a DUI, this number goes up by $1,371 to $2,647.
GEICO is considered on the expensive side when it comes to DUI penalties.
Car Accidents
GEICO remains one of the cheapest options after an accident because the company offers an “accident forgiveness” option.
The Zebra data shows that after an accident, drivers with GEICO can expect annual premiums to increase from $1,276 on average to $1,997 in the first year, $2,719 in the second year, and $3,441 in the third.
Credit Score
Some states have made it illegal for car insurance companies to consider an individual’s credit score when formulating quotes. These states are California, Massachusetts, Hawaii, and Michigan.
According to The Zebra, drivers across all insurers in all other states can expect their rates to be 115% higher if they have a poor credit score compared with someone with an excellent credit history.
Are Customers Satisfied with GEICO?
Overall, GEICO’s customer satisfaction has been rated higher than average. It was also among the top-rated companies in Investopedia’s Best Car Insurance and Best Car Insurance for Seniors studies.
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According to the J.D. Power 2021 U.S. Auto Insurance Study, GEICO came in 12th of 25 national insurers for customer satisfaction.
GEICO’S Background
When it comes to financial information, GEICO was given a superior rating by AM Best, proving that its ability to pay out its claims is among the best in the industry.
Founded in 1936, GEICO is the second-largest insurance company in the U.S. While initially created to insure government and military personnel, the company now offers car insurance to all drivers across 50 states.
The company gets high marks for its customer service and an array of services. But what makes it stand out is its mobile app and online services, which received the highest rating in the Dynatrace Q1 2019 Mobile Insurance Scorecard.
Read Related Insurance Stories:
- 9 Factors That Affect Car Insurance Rates in 2021
- How to Lower Your Car Insurance Premiums
- Compare Car Insurance: How to Choose the Right Policy
