Welcome to my unbiased Geico review, where I will provide you with insights and share my personal experience with Geico insurance. As the third-largest auto insurance company in the United States, Geico is well-known for its catchy TV commercials and competitive rates. In this review, I will discuss Geico’s offerings, customer reviews, and important factors to consider when choosing an auto insurance provider.
Key Takeaways:
- Geico is the third-largest auto insurance company in the United States.
- Geico offers competitive rates and a user-friendly website and mobile app.
- Customer reviews of Geico are mixed, with some praising the company’s prices and easy customer service, while others have raised concerns about the claims process and agent support.
- Geico has an IQ Score of 4.3 out of 5 and a JD Power rating of 835 out of 1000, indicating high customer satisfaction.
- Geico provides various coverage options, including liability-only and full coverage insurance, as well as additional coverage options like emergency road service and rental reimbursement.
Quick Facts about GEICO
When it comes to auto insurance, GEICO is a name that comes up often. As a wholly owned subsidiary of Berkshire Hathaway, one of the world’s largest conglomerates, GEICO has a strong financial backing. This allows them to offer competitive rates to their customers. Their direct-to-consumer model cuts out the middleman, resulting in lower average rates compared to many of their competitors.
However, it’s important to note that GEICO only has about 300 local agents nationwide. While their website and mobile app make it easy to manage policies and file claims, some customers may find the lack of personal, face-to-face interaction challenging. Despite this, GEICO remains a popular choice for drivers with a clean driving history who are looking for affordable coverage.
In terms of financial strength, GEICO has a solid reputation. With their strong backing from Berkshire Hathaway, customers can have peace of mind knowing that their claims will be handled efficiently and their policies will be honored.
GEICO at a Glance:
- Owned by Berkshire Hathaway
- Offers competitive rates
- 300 local agents nationwide
- Strong financial backing
GEICO Financial Strength:
| AM Best Rating | S&P Rating | Moodys Rating |
|---|---|---|
| A++ | AA+ | Aa2 |
GEICO’s IQ Score and JD Power Rating
When it comes to assessing the quality of an insurance company, two important factors to consider are the IQ score and JD Power rating. These metrics provide valuable insights into customer satisfaction and overall performance. Let’s take a closer look at GEICO’s IQ score and JD Power rating.
GEICO’s IQ Score
GEICO has achieved an impressive IQ score of 4.3 out of 5. This score is based on a comprehensive evaluation of more than 15 criteria that objectively rate insurance companies. It takes into account factors such as customer service, claims handling, policy options, and financial stability. With a score that surpasses the average, it is clear that GEICO has consistently met or exceeded customer expectations.
JD Power Rating
GEICO also boasts a JD Power rating of 835 out of 1000, which is a strong indication of customer satisfaction. JD Power is a renowned market research company that measures customer opinions and experiences across various industries. GEICO’s high rating demonstrates its commitment to delivering exceptional service and meeting the needs of its policyholders. It is evident that many customers have had positive experiences with GEICO, resulting in high levels of satisfaction.
Overall, GEICO’s IQ score and JD Power rating speak volumes about the company’s dedication to providing excellent insurance products and services. These accolades highlight GEICO’s ability to consistently meet customer expectations and deliver exceptional value. Whether you are inquiring about a quote, filing a claim, or seeking advice, you can trust that GEICO is committed to your satisfaction.
GEICO’s Liability Only and Full Coverage Rates
When it comes to auto insurance, GEICO offers options to suit a variety of needs and budgets. Whether you’re looking for basic liability coverage or more comprehensive full coverage, GEICO has you covered. Let’s explore the different rates for GEICO’s liability only insurance and full coverage insurance.
Liability Only Insurance
For those who want to meet the minimum legal requirements and protect themselves from liability, GEICO offers liability-only insurance. This type of coverage helps cover the costs of damages or injuries you cause to others in an accident. The average monthly rate for GEICO’s liability-only insurance is $52, making it an affordable option for drivers.
Full Coverage Insurance
If you’re looking for more comprehensive coverage that also protects your own vehicle, GEICO’s full coverage insurance is a great choice. This type of insurance includes liability coverage as well as coverage for damage to your own vehicle caused by accidents, theft, vandalism, or other covered incidents. The average monthly rate for GEICO’s full coverage insurance is $112, providing peace of mind at an affordable price.
As the table above illustrates, GEICO offers competitive rates for both liability-only insurance and full coverage insurance. These rates are lower than the national average, making GEICO a popular choice among drivers looking for affordable and reliable insurance. Whether you’re a new driver, a young driver, or a seasoned driver, GEICO has options to fit your needs and budget.
When considering auto insurance, it’s important to evaluate your individual needs and budget to determine the best coverage for you. GEICO’s liability only and full coverage insurance options provide flexibility and affordability, ensuring that you can find the right coverage to protect yourself and your vehicle on and off the road.
Overview of GEICO Auto Insurance
When it comes to auto insurance, GEICO offers a wide range of products to meet the needs of different customers. Along with auto insurance, GEICO also provides coverage options for homeowners, flood, life, business, and identity protection. This makes it convenient for individuals and families to bundle their insurance needs under one provider, simplifying the management of policies and potential claims.
One key aspect to consider when choosing an insurance provider is their financial stability. GEICO has a strong rating for financial stability from A.M. Best, an independent organization that assesses the financial health of insurance companies. This rating provides customers with confidence that GEICO has the financial resources to fulfill their obligations in the event of a claim.
While GEICO has a solid reputation for affordability and customer satisfaction, it is important to note that they have received a higher number of complaints than expected in the National Association of Insurance Commissioner’s Consumer Complaints Index. This indicates that some customers have had issues or concerns with their experience with GEICO.
Despite a few complaints, GEICO remains a popular choice for drivers looking for reliable coverage at an affordable price.
In conclusion, GEICO offers a variety of auto insurance products, has a strong financial standing, and is known for its competitive rates. However, it is important for potential customers to be aware of the complaints that have been filed against the company. When considering GEICO for auto insurance, it is recommended to thoroughly review the policy terms and conditions and compare quotes from multiple providers to ensure you are getting the best coverage and value for your specific needs.
Pros and Cons of GEICO
When it comes to GEICO auto insurance, there are several pros and cons to consider. Let’s take a closer look at what sets GEICO apart and what potential drawbacks you may come across when considering this insurance provider.
Pros of GEICO
- Good rates for different drivers: GEICO offers competitive rates for a wide range of drivers, including good drivers, seniors, and young drivers. This makes it a popular choice for those looking for affordable coverage.
- Accident forgiveness: GEICO provides accident forgiveness, which means that your rates won’t automatically increase after your first at-fault accident. This can help protect your premiums and save you money in the long run.
Cons of GEICO
- Higher rates for drivers with certain violations: While GEICO offers good rates for many drivers, it’s important to note that rates can be higher for those with certain violations, such as DUIs. If you have a less-than-perfect driving record, you may find that GEICO’s rates are less competitive.
- Lack of rideshare and new car replacement coverage: If you’re a rideshare driver or you’ve recently purchased a new car, it’s worth noting that GEICO does not offer specific coverage options for these situations. You may need to look into additional coverage options or consider other insurance providers.
These are just a few of the pros and cons to consider when thinking about GEICO auto insurance. It’s important to weigh these factors against your own needs and preferences to determine if GEICO is the right insurance provider for you.
| Pros | Cons |
|---|---|
| Good rates for different drivers | Higher rates for drivers with certain violations |
| Accident forgiveness | Lack of rideshare and new car replacement coverage |
GEICO Customer Reviews
When it comes to customer reviews, GEICO, like any other insurance company, has received mixed feedback. While some customers have had positive experiences with the company, others have expressed their dissatisfaction. It is important to note that individual experiences may vary, and it is always advisable to consider a range of customer reviews before making a decision about an insurance provider.
Some customers have praised GEICO for its competitive prices and ease of use when it comes to managing policies and filing claims. The company’s website and mobile app have been commended for their user-friendly interface and accessibility. Additionally, customers have appreciated the prompt and helpful customer service provided by GEICO representatives.
However, there have also been complaints about GEICO’s unwillingness to work with certain customers, particularly senior citizens on fixed incomes. Some customers have reported difficulties in resolving issues and have felt that their concerns were not adequately addressed by the company. It is important to consider these factors and weigh them against your own needs and priorities before deciding on an insurance provider.
“While some customers praise the company’s good prices and easy customer service, others complain about the company’s unwillingness to work with clients, particularly senior citizens on a fixed income.”
Ultimately, the decision to choose GEICO as an insurance provider should be based on a careful evaluation of your own needs and priorities. It is advisable to read a variety of customer reviews, compare prices and coverage options, and consider factors such as customer service, financial stability, and claims handling. This will help you make an informed decision and find an insurance provider that meets your requirements.
What is GEICO Auto Insurance?
GEICO, which stands for Government Employees Insurance Company, is one of the largest auto insurance providers in the United States. Founded in 1936, GEICO has grown to become the third-largest auto insurer in the country. The company is known for its competitive rates, user-friendly website and app, and a wide range of coverage options.
GEICO has a unique marketing approach that sets it apart from traditional insurance companies. The company focuses on a direct-to-consumer model, which means they sell insurance policies directly to customers without the need for agents or brokers. This allows GEICO to cut down on overhead costs and offer more affordable rates to their policyholders.
Over the years, GEICO has gained recognition for its catchy advertising campaigns, featuring memorable characters like the GEICO gecko and the “15 minutes could save you 15% or more” slogan. These marketing efforts have helped establish GEICO as a household name and attract millions of customers across the country.
GEICO’s DriveEasy App
As part of its commitment to promoting safe driving habits, GEICO offers the DriveEasy app, an optional usage-based telematics program. This innovative app allows policyholders to potentially save up to 25% on their premium by monitoring and improving their driving behavior. By using the DriveEasy app, customers can gain valuable insights into their driving habits, receive personalized feedback, and earn safe driving rewards.
The DriveEasy app tracks various aspects of driving, including speeding, hard braking, and phone usage, to provide a comprehensive analysis of driving behaviors. By actively using the app and practicing safe driving habits, policyholders may qualify for safe driving rewards, such as discounted premiums, cashback, or other incentives offered by GEICO.
The app also offers features such as trip history, which allows users to review past journeys and assess their driving performance. Additionally, the DriveEasy app provides personalized tips and recommendations to help improve safe driving habits. With its user-friendly interface and real-time feedback, the app empowers policyholders to become more aware of their driving habits and take proactive steps to enhance their overall safety on the road.
With GEICO’s DriveEasy app, policyholders can not only save money on their insurance premiums but also gain valuable insights into their driving behaviors and work towards becoming safer and better drivers. By utilizing this app, GEICO customers can actively participate in promoting safe driving practices and enjoy the benefits of their commitment to road safety.
Table: DriveEasy App Features and Benefits
| Features | Benefits |
|---|---|
| Real-time tracking of driving behaviors | Allows users to monitor and improve their driving habits |
| Trip history and analysis | Enables users to review past journeys and assess their driving performance |
| Personalized feedback and tips | Provides tailored recommendations to help users become safer drivers |
| Potential savings and rewards | Policyholders may qualify for discounted premiums or other incentives based on safe driving habits |
Average Cost of GEICO Auto Insurance
When it comes to auto insurance, cost plays a significant role in choosing the right provider. In this section, we’ll take a closer look at the average rates offered by GEICO for both liability-only insurance and full coverage. Understanding these rates can help you make an informed decision about your insurance needs.
Table: Average Monthly Rates for GEICO Auto Insurance
| Insurance Type | Average Monthly Rate |
|---|---|
| Liability-Only Insurance | $130 |
| Full Coverage Insurance | $183 |
According to the data, GEICO offers competitive rates for both liability-only insurance and full coverage. The average monthly rate for liability-only insurance with GEICO is $130, which is lower than the national average. This makes GEICO an affordable option for drivers who are looking for basic coverage.
For those who prefer more comprehensive coverage, GEICO also provides full coverage insurance at an average monthly rate of $183. This includes liability protection as well as coverage for damages to your own vehicle. Again, this rate is lower than the national average, making GEICO an attractive choice for drivers seeking comprehensive protection.
Keep in mind that these average rates are influenced by various factors, including your location, driving history, and the type of vehicle you drive. Therefore, it’s essential to request a personalized quote from GEICO to get an accurate estimate based on your specific circumstances.
GEICO Car Insurance Coverage Options
When it comes to car insurance, GEICO offers a range of coverage options to meet the needs of different drivers. Whether you’re looking for basic liability coverage or comprehensive protection, GEICO has you covered. Here are some of the coverage options you can choose from:
Liability Coverage
Liability coverage is the minimum required by law in most states. It provides financial protection if you cause an accident that results in injury or property damage to others. GEICO offers liability coverage that meets state requirements and can help cover medical expenses, vehicle repairs, and legal costs arising from an at-fault accident.
Comprehensive Coverage
Comprehensive coverage is optional but provides added protection for your vehicle. It covers damage caused by events other than collisions, such as theft, vandalism, fire, or natural disasters. With comprehensive coverage from GEICO, you can have peace of mind knowing you’re protected against a wide range of potential risks.
Collision Coverage
Collision coverage helps pay for repairs or replacement of your vehicle if it’s damaged in a collision with another vehicle or object, regardless of fault. This coverage is optional but can be valuable if you want to protect your investment in your vehicle. GEICO offers collision coverage that can help get you back on the road quickly after an accident.
These are just a few of the coverage options available from GEICO. Depending on your needs and budget, you can customize your policy with additional options such as emergency road service, rental reimbursement, mechanical breakdown insurance, and accident forgiveness. GEICO’s wide range of coverage options ensures you can find the right level of protection for your unique situation.
| Coverage Option | Description |
|---|---|
| Liability Coverage | Provides financial protection if you cause an accident that results in injury or property damage to others. |
| Comprehensive Coverage | Covers damage caused by events other than collisions, such as theft, vandalism, fire, or natural disasters. |
| Collision Coverage | Helps pay for repairs or replacement of your vehicle if it’s damaged in a collision with another vehicle or object, regardless of fault. |
| Emergency Road Service | Provides assistance if your vehicle breaks down on the road, including services like towing, fuel delivery, and battery jump-start. |
| Rental Reimbursement | Covers the cost of a rental car while your vehicle is being repaired after an accident. |
| Mechanical Breakdown Insurance | Covers the cost of repairs for mechanical failures not covered by your vehicle’s warranty. |
| Accident Forgiveness | Protects your driving record and prevents your rates from increasing after an at-fault accident. |
GEICO Car Insurance Rates by State
When it comes to car insurance, rates can vary significantly from state to state. Several factors influence these rates, including the minimum insurance requirements and local laws in each state, as well as the risk factors specific to that particular region. GEICO, being one of the largest auto insurance companies in the United States, provides competitive rates in most states.
To give you an overview of GEICO car insurance rates by state, I’ve compiled a table showcasing the average annual premiums for a typical driver in each state. Please note that these rates are based on general averages and may vary depending on several individual factors, such as age, driving history, and coverage options. The table below provides a snapshot of the estimated rates for each state:
| State | Average Annual Premium |
|---|---|
| Alabama | $856 |
| Alaska | $702 |
| Arizona | $822 |
| Arkansas | $759 |
As you can see, the rates vary significantly, with some states having higher premiums than others. Factors such as population density, traffic congestion, and the number of uninsured motorists can influence these variations. It’s important to note that lower rates do not necessarily indicate better coverage or service, so it’s crucial to consider your individual needs and preferences when choosing car insurance.
For a more accurate quote tailored to your specific circumstances, it’s recommended to visit the GEICO website or contact a GEICO representative directly. They will consider various factors, including your location, driving history, and coverage requirements, to provide you with a personalized quote that aligns with your needs and budget.
Remember, car insurance rates are influenced by numerous factors, and comparing quotes from multiple insurance providers is always a prudent approach to finding the best coverage at the most affordable rate.
GEICO Auto Insurance Rates by Driving History
When it comes to auto insurance rates, your driving history plays a significant role. GEICO considers various factors when determining rates, and having a clean driving record can lead to lower premiums. However, if you have a history of speeding tickets, at-fault accidents, or DUIs, you can expect higher rates.
To give you an idea of how driving history affects rates, let’s take a look at some examples:
| Driving History | Average Monthly Rate |
|---|---|
| Clean driving record | $100 |
| 1 speeding ticket | $150 |
| 1 at-fault accident | $200 |
| DUI | $300 |
As you can see, the rates increase progressively based on the severity of your driving history. It’s essential to drive safely and be mindful of traffic laws to maintain a clean record and qualify for lower insurance rates.
Remember, the rates mentioned above are just examples and may vary based on other factors such as your location and the coverage options you choose. It’s always a good idea to request a personalized quote from GEICO to get accurate rates tailored to your specific driving history and insurance needs.
GEICO Auto Insurance Rates with Violations
When it comes to violations on your driving record, GEICO takes them into account when calculating your insurance rates. Depending on the severity and frequency of the violations, your premiums may increase.
Here are some examples of how violations can impact your rates:
| Violation | Average Monthly Rate Increase |
|---|---|
| Speeding ticket | $50 |
| At-fault accident | $100 |
| DUI | $200 |
As you can see, violations can lead to significant rate increases. It’s crucial to drive responsibly and avoid violations to maintain affordable insurance premiums. Additionally, it’s worth noting that violations may stay on your driving record for a certain period, usually several years, depending on your state’s laws.
Keep in mind that the rates mentioned above are examples and can vary depending on other factors. For accurate rates tailored to your specific situation, it’s best to reach out to GEICO and request a personalized quote.
GEICO Car Insurance Rates by Age
When it comes to determining auto insurance rates, age is a factor that insurers often consider. GEICO, one of the leading auto insurance companies in the United States, offers competitive rates for drivers of all ages. Whether you’re a young driver just starting out or a seasoned senior, GEICO has options to fit your needs.
For young drivers, who are generally considered higher risk due to their lack of driving experience, GEICO offers competitive rates that can help keep their insurance premiums affordable. While rates for young drivers may be higher compared to older, more experienced drivers, GEICO strives to provide coverage that is accessible and fits within their budget.
On the other end of the spectrum, seniors may also benefit from GEICO’s car insurance rates. With a lifetime of driving experience, seniors may qualify for lower rates that reflect their safe driving habits. GEICO recognizes the value of experience and offers coverage options that cater to the needs of seniors.
Table: GEICO Car Insurance Rates by Age
| Age Group | Average Monthly Rate |
|---|---|
| 16-19 | $250 |
| 20-29 | $150 |
| 30-39 | $125 |
| 40-49 | $110 |
| 50-59 | $100 |
| 60+ | $95 |
Please note that the rates provided in the table are for illustrative purposes only and may not reflect the exact rates offered by GEICO. Rates can vary based on various factors, including location, driving record, and coverage options selected.
No matter your age, GEICO understands that affordable car insurance is important. By offering competitive rates for drivers of all ages, GEICO strives to make auto insurance accessible to everyone. Whether you’re a young driver hitting the road for the first time or a seasoned senior looking for reliable coverage, GEICO has options to meet your needs.
Best Types of Insurance: Auto-Owners, Farm Bureau, USAA
When it comes to finding the best insurance coverage, it’s important to consider your specific needs and preferences. While there are many reputable insurance providers in the market, three companies that stand out are Auto-Owners, Farm Bureau, and USAA. Each of these companies offers unique benefits and features that cater to different types of policyholders.
Auto-Owners Insurance
Auto-Owners Insurance is known for its exceptional customer service, competitive rates, and a wide range of coverage options. The company has been serving policyholders for over a century and is highly rated for its financial stability. With Auto-Owners Insurance, you can bundle your policies, including auto, home, and life insurance, which can lead to potential savings. The company has a strong network of local agents who provide personalized assistance and claims support.
Farm Bureau Insurance
Farm Bureau Insurance is a great choice for those looking for comprehensive coverage and excellent claims handling. The company is well-regarded for its replacement cost coverage, ensuring that you receive the full value of your insured items in the event of a covered claim. Farm Bureau Insurance also offers a variety of discounts, including multi-policy, safe driving, and home security discounts, making it an affordable option for many policyholders.
USAA Insurance
USAA Insurance is known for its exceptional customer satisfaction and dedication to serving military members and their families. If you are an active or retired military member, or an eligible family member, USAA provides a range of insurance products tailored to your unique needs. With competitive premiums and a variety of coverage options, USAA Insurance offers excellent value and peace of mind to its policyholders.
When considering the best insurance options for your needs, it’s important to compare policies, coverage, and rates from multiple providers. Auto-Owners Insurance, Farm Bureau Insurance, and USAA Insurance are just a few of the top companies worth considering, each with their own strengths and benefits. Take the time to research and evaluate your options to find the insurance provider that best fits your needs and budget.
Conclusion
In conclusion, my review of GEICO reveals that it is a reputable auto insurance company with a strong presence in the market. They offer competitive rates that are below the national average, making them an attractive option for drivers looking for affordable coverage.
GEICO’s user-friendly website and mobile app make it convenient for customers to manage their policies and file claims. They also provide a wide range of coverage options, including liability-only insurance and comprehensive policies, giving customers the flexibility to choose the coverage that suits their needs.
While GEICO has received mixed customer reviews, it is important to note that every insurance company will have its share of satisfied and dissatisfied customers. It is always recommended to thoroughly research and compare different insurance providers before making a decision.
In my final thoughts, I believe GEICO is a solid choice for drivers who value affordability, convenience, and a variety of coverage options. If you are in the market for auto insurance, be sure to consider GEICO as a reliable option for your insurance needs.
FAQ
What is GEICO?
GEICO, which stands for Government Employees Insurance Company, is the third-largest auto insurance company in the United States.
Who owns GEICO?
GEICO is a wholly owned subsidiary of Berkshire Hathaway, one of the world’s largest conglomerates.
How does GEICO offer competitive rates?
GEICO’s direct-to-consumer model allows it to offer lower average rates than many competitors.
Does GEICO have local agents?
GEICO has approximately 300 local agents nationwide.
How easy is it to file claims with GEICO?
GEICO’s website and mobile app make it easy for customers to file claims and manage policies.
What is GEICO’s financial strength rating?
GEICO has a high rating for financial stability from A.M. Best.
What are GEICO’s average monthly rates?
GEICO offers liability-only insurance with an average monthly rate of $52. For full coverage car insurance, the average monthly rate is $112.
What other insurance products does GEICO offer?
In addition to auto insurance, GEICO offers homeowner’s insurance, flood insurance, life insurance, business insurance, and identity protection.
What are the pros of GEICO?
Pros of GEICO include good rates for good drivers, seniors, and young drivers, as well as the availability of accident forgiveness.
What are the cons of GEICO?
The cons of GEICO include high rates for drivers with certain violations, like DUIs, and the lack of rideshare or new car replacement coverage.
What are customer reviews of GEICO like?
Customer reviews of GEICO are mixed, with some praising the company’s prices and customer service, while others complain about the lack of willingness to work with clients, particularly senior citizens on a fixed income.
When was GEICO launched?
GEICO was launched in 1936.
What is the DriveEasy app offered by GEICO?
The DriveEasy app is an optional usage-based telematics program that allows safe drivers to potentially save up to 25% on their premium by tracking and improving their driving behaviors.
What are GEICO’s rates compared to the national average?
GEICO’s rates are lower than the national average, making it an affordable option for drivers.
What coverage options does GEICO offer?
GEICO offers liability-only coverage, comprehensive policies, and optional collision coverage, as well as additional options such as emergency road service, rental reimbursement, mechanical breakdown insurance, and accident forgiveness.
Do GEICO rates vary by state?
Yes, GEICO rates can vary by state due to minimum insurance requirements, local laws, and state-specific risk factors.
How does GEICO determine rates based on driving history?
GEICO considers a driver’s history when determining rates, with drivers with a clean record generally having lower rates, while drivers with speeding tickets, at-fault accidents, or DUIs will likely have higher rates.
How does age affect GEICO auto insurance rates?
Younger drivers, who are generally considered higher risk, tend to have higher rates, while seniors may qualify for lower rates based on their driving experience. GEICO offers competitive rates for drivers of all ages.
What are some other insurance companies to consider?
Auto-Owners insurance is known for its bundling policies and competitive rates, Farm Bureau insurance stands out for its claims handling and replacement cost coverage, and USAA offers affordable premiums and excellent customer satisfaction, specifically catering to military members and their families.
