We’re all familiar with GEICO and its famous tagline, “15 minutes could save you 15 percent or more on car insurance.” But does GEICO align with your specific insurance needs? This comprehensive review delves into the details of the renowned auto insurance provider featured in memorable commercials (and featuring the iconic gecko).
Founded in 1936 to cater to government officials and military personnel, GEICO has evolved into a giant covering 17 million drivers nationwide. Whether GEICO is the right fit for you depends on factors such as your location, preference for a technology-centric approach to insurance, and whether you fall under categories like military members and government employees, who can benefit from exclusive discounts.
For those still exploring multiple insurance options, our Perfect Policy Connectors at AutoInsurance.com can assist. Contact them at 866-480-0667, and within seconds, a friendly agent will scour the market, offering affordable rates and dependable coverage.
Key Takeaways:
- GEICO stands out as one of the country’s largest insurance providers, offering a diverse range of auto policies.
- It accommodates various types of automobiles and situations within its coverage.
- GEICO places a strong emphasis on online services through its website and mobile app, conducting the majority of its operations virtually.
Best Suited for:
- Military and government employees benefit from exclusive discounts on insurance costs and premiums.
- Families and individuals with multiple vehicles or insurable properties can easily bundle these assets for convenience.
- Drivers with both impeccable and slightly blemished driving records can find competitively low car insurance rates with GEICO.
Not Ideal for:
- Individuals residing in areas with limited or no local agents who prefer conducting business in person.
- Those who are uncomfortable with or averse to using technology in managing their insurance affairs.
Pros and Cons of GEICO Auto Insurance
Pros:
- Wide Coverage: GEICO provides a comprehensive range of coverage options to suit diverse needs.
- Excellent Customer Service: With an A+ rating from the Better Business Bureau, GEICO stands out for its highly rated customer service.
- Mobile App Convenience: The GEICO mobile app offers convenient features such as obtaining repair estimates from photos, accessing digital insurance cards, and contacting roadside assistance.
Cons:
- Limited Discounts: GEICO lacks certain loyalty discounts offered by other insurers, such as incentives for long-term membership or timely bill payments.
- Limited Local Agencies: Primarily operating online, GEICO may present challenges in finding a local agent, particularly in states like North Dakota, South Dakota, Vermont, and Wyoming.
Coverage Offered by GEICO:
- Bodily Injury Liability: Covers medical bills, medications, and lost wages when you are at fault in an accident.
- Property Damage Liability: Covers repair costs for another person’s property damaged in an accident, including vehicles, fences, or yards.
- Collision: Protects your vehicle in accidents, whether or not you are at fault, though it does not cover all types of damages.
- Comprehensive: Covers damages not resulting from collisions, such as those from weather events, theft, vandalism, and animal collisions.
- Medical Payments: Provides coverage for you and your passengers’ medical expenses regardless of fault.
- Emergency Roadside Assistance: Starting at $14 a year, offers services like free towing, battery jump starts, and locksmith services.
- Rental Reimbursement: Covers rental car costs when your vehicle is being repaired under a covered claim.
- Mechanical Breakdown Insurance (MBI): Alternative to an extended warranty, covering unexpected repairs on newer vehicles.
- Mexico Auto Insurance: Offers coverage options for travel to Mexico, including roadside assistance.
- Rideshare Insurance: Provides commercial insurance for Uber and Lyft drivers with the same coverage as personal policies.
Determining Your Auto Insurance Rate with GEICO
Your auto insurance rate with GEICO is influenced by various factors including your driving history, age, gender, address, and the vehicle you own. While individual rates vary, GEICO’s average annual cost is $1,194, positioning it as one of the more affordable options in the U.S. To obtain an accurate quote, you’ll need to directly contact the company and provide your personal details.
Discount Opportunities:
- Vehicle Equipment: Vehicles equipped with safety features like airbags, anti-lock brakes, anti-theft systems, and daytime running lights can qualify for discounts ranging from 5 to 23 percent. New vehicles may also receive up to 15 percent off under specific coverages.
- Driving History and Habits: Drivers with a clean record (no accidents in the last five years) can enjoy discounts of up to 22 percent. Additional savings are possible by consistently using seat belts.
- Driver’s Education: Completing a driver’s education or defensive driving course can earn you a discount. High school and college students with good grades may qualify for up to 15 percent off.
- Affiliations: Originally serving federal employees and the military, GEICO extends competitive discounts to these groups. Military personnel can receive up to a 15 percent discount, increasing to 25 percent during emergency deployment. Federal employees may qualify for a 12 percent discount through the “Eagle” program, and employees of affiliated companies (500+ partners) are also eligible for discounts.
- Multi-Policy/Multi-Vehicle: Customers combining home, condo, or renters insurance with car insurance can benefit from GEICO’s multi-policy discount. Additionally, a multi-vehicle discount is available for those insuring multiple cars or trucks.
Availability
GEICO is available in all 50 states and Washington, D.C. However, since GEICO’s operations are mostly online, some states have very few or no agencies. We used GEICO’s “Find An Agent” locator tool to identify states where agents are sparse:
| State | Number of GEICO agents | Location of GEICO agent(s) |
|---|---|---|
| Alabama | 5 | Birmingham, Huntsville, Mobile, Montgomery-Selma |
| Alaska | 2 | Anchorage |
| Arizona | 8 | Phoenix, Tucson-Sierra Vista |
| Arkansas | 3 | Fort Smith, Little Rock |
| Colorado | 7 | Colorado Springs, Denver |
| Connecticut | 17 | Manchester, Newington, Orange, Southern Connecticut, Waterford |
| Delaware | 1 | Wilmington |
| District of Columbia | 1 | Washington, D.C. |
| Florida | 36 | Fort Myers-Naples, Gainesville, Jacksonville, Miami-Fort Lauderdale, Orlando, Panama City, Pensacola-Fort Walton Beach, Tallahassee, Tampa-St. Petersburg, West Palm Beach |
| Georgia | 18 | Atlanta, Augusta, Columbus, Macon, Savannah, Valdosta |
| Hawaii | 1 | Honolulu |
| Idaho | 2 | Boise, Coeur d’Alene |
| Illinois | 8 | Chicago |
| Indiana | 6 | Indianapolis, Evansville, Schererville |
| Iowa | 2 | Davenport, Des Moines-Ames |
| Kansas | 1 | Kansas City |
| Kentucky | 3 | Bowling Green, Lexington, Louisville |
| Louisiana | 8 | Alexandria, Baton Rouge, Lafayette, Lake Charles, New Orleans, Shreveport |
| Maine | 1 | Portland-Auburn |
| Maryland | 6 | Baltimore |
| Massachusetts | 10 | Boston, Springfield |
| Michigan | 1 | Detroit |
| Minnesota | 2 | Minneapolis-St. Paul |
| Mississippi | 1 | Biloxi-Gulfport |
| Missouri | 4 | Kansas City, Springfield, St. Louis |
| Montana | 1 | Billings |
| Nebraska | 1 | Omaha |
| Nevada | 4 | Las Vegas, Reno |
| New Hampshire | 2 | Manchester-Portsmouth |
| New Jersey | 8 | Greater New York Area, Philadelphia Area |
| New Mexico | 1 | Albuquerque-Sante Fe |
| New York | 16 | Albany, Buffalo, Greater New York Area, Rochester, Syracuse, Watertown |
| North Carolina | 15 | Asheville, Charlotte, Greensboro-High Point- Winston Salem, Greenville, Raleigh, Wilmington |
| North Dakota | 0 | n/a |
| Ohio | 12 | Cincinnati, Cleveland, Columbus, Dayton, Youngstown |
| Oklahoma | 4 | Lawton-Wichita Falls, Oklahoma City, Tulsa |
| Oregon | 5 | Eugene, Portland |
| Pennsylvania | 13 | Erie, Harrisburg, Philadelphia, Pittsburgh, Scranton-Wilkes-Barre |
| Rhode Island | 2 | Providence |
| South Carolina | 8 | Charleston, Columbia, Greenville, Hilton Head, Myrtle Beach |
| South Dakota | 0 | n/a |
| Tennessee | 10 | Chattanooga, Knoxville, Memphis, Nashville, Johnson City |
| Texas | 33 | Abilene-Sweetwater, Austin, Beaumont-Port Arthur, Corpus Christi, Dallas/Fort Worth, El Paso, Houston, Lubbock, San Antonio, Tyler-Longview, Waco-Temple-Bryan |
| Utah | 3 | Salt Lake City |
| Vermont | 0 | n/a |
| Virginia | 11 | Harrisonburg, Norfolk, Richmond, Roanoke, Washington, D.C. |
| Washington | 5 | Seattle-Tacoma, Spokane, Vancouver |
| West Virginia | 2 | Charleston, Morgantown |
| Wisconsin | 1 | Madison |
| Wyoming | 0 | n/a |
GEICO Insurance: A Comprehensive Review
Agent Availability: Despite serving a vast customer base, GEICO operates with only 315 agents nationwide, averaging six per state. This low agent count aligns with GEICO’s online-centric approach, making it a suitable choice for those who prefer online transactions. However, if having a local agent is crucial, especially in states like Wisconsin and Utah, GEICO may not be the ideal option. Notably, areas outside major cities may lack local agents.
Customer Service and Agent Ratio: GEICO’s agent-to-customer ratio varies across states. Residents in Florida, Ohio, Virginia, Tennessee, and New York generally experience a favorable ratio. The East Coast tends to benefit more from a higher local agent population. GEICO’s customer service, primarily online, is well-regarded, earning an 828 out of 1,000 rating from JD Power.
Mobile Apps and Online Features: GEICO’s mobile app, rated 4.8 out of 5 for iOS users and 4.7 for Android users, provides comprehensive services. Users can manage policies, access ID cards, get quotes, report claims, and utilize the virtual assistant. The app also aids in locating nearby gas stations, reserving parking spots, arranging roadside assistance, and accessing vehicle-related information through CARFAX.
Third-Party Ratings: GEICO receives positive ratings from various sources:
- Better Business Bureau (BBB) rates GEICO A+ (as of June 2022), but the customer rating is 1.16 out of 5.
- J.D. Power U.S. Auto Insurance Study 2021 scores GEICO at 833 out of 1,000, higher than Progressive.
- National Association of Insurance Commissioners (NAIC) Complaint Index Score for 2020 is 1.7, indicating a low complaint ratio.
Company History:
Founded in 1936 by Leo and Lilliam Goodwin, GEICO, initially focused on government employees, expanded significantly after Warren Buffett’s investment in 1951. Berkshire Hathaway acquired GEICO in 1995, and the company has become known for memorable advertisements.
Other Insurance Offerings:
Apart from auto insurance, GEICO covers various properties, including home, renters, condo, flood, business, pet, jewelry, identity protection, travel, overseas, life, and umbrella insurance.
Cancellation Policy:
GEICO has a straightforward cancellation policy without any fees. Customers can cancel by calling 800-841-1587 and speaking with an agent.
In summary, GEICO’s strengths lie in its online services, competitive rates, and a wide array of insurance offerings. However, it may not be the best fit for those who highly prioritize local agent interactions.
