GEICO Car Insurance
- A.M. Best: A++
- Moody’s: Aa1
- Standard and Poor’s: AA+
GEICO has been in the car insurance industry for over 75 years, becoming one of the largest companies in the country.
As its beloved mascot claims, GEICO can save you money on car insurance, too, offering some of the lowest rates you’ll find anywhere.
In the review below, we’re taking a closer look at the coverage and customer support you get with GEICO, as well as a few alternatives.
Table of Contents:
- About GEICO
- GEICO Car Insurance
- GEICO Car Insurance Quotes
- Customer Service
- Pros and Cons of GEICO
- Alternatives to GEICO
While GEICO is available to everyone today, the Government Employees Insurance Company was founded in 1936 by Leo Goodwin to provide affordable car insurance for government and military families.
Since 1996, GEICO has been a subsidiary of Berkshire Hathaway, among the most reputable financial institutions in the nation.
Today, GEICO insurers over 17 million drivers and 28 million vehicles.
The company also boasts more than 40,000 employees, with 17 global offices.
In addition to the number of employees and policyholders, we can get a better idea of GEICO’s financial strength by turning to credit ratings.
GEICO consistently receives high marks across the board, suggesting they’re financially stable and fully capable of paying out claims as promised.
Here’s a look at their current ratings:
- M. Best: A++
- Moody’s: Aa1
- Standard and Poor’s: AA+
GEICO is also one of J.D. Power’s highest ranked car insurance providers, earning a four out of five for overall satisfaction, making them “Better than most.”
GEICO Car Insurance
GEICO offers the basic forms of car insurance you might expect to find anywhere, with a few additional types of coverage you won’t.
We’ll break down each type of coverage below:
- Liability coverage: GEICO protects you against damages to property as well as medical expenses if you’re at fault in an accident.
- Medical coverage: Regardless of who is at fault, this protection can cover your medical expenses and loss of wages if you’re injured in an accident.
- Uninsured/underinsured motorist coverage: If the driver at fault doesn’t have adequate insurance in place, this coverage can help with medical fees, property damages, and claims.
- Collision coverage: If you’re involved in a collision with a car or an object, collision coverage can kick in for damages.
- Comprehensive coverage: If your car is defaced by vandals or damaged by a natural cause like fire, hail, or flooding, comprehensive coverage provides protection.
- Emergency roadside coverage: If you break down, this coverage can help with costs like towing, tire replacement, and dead batteries.
- Rental reimbursement insurance: This coverage pays for you to rent a car while yours is being repaired after an accident.
- Mechanical breakdown insurance: With a $250 deductible, this renewable coverage pays for mechanical vehicle maintenance.
GEICO Car Insurance Quotes
GEICO’s rates are among the lowest, and the company makes seeing what rates you qualify for a breeze on the GEICO website.
To get quotes and apply for coverage, you’ll add a few simple details like your:
- Personal info: Location, marriage status, education level, and career
- Driving record: Accidents, DUIs , and moving violations
- Car information: Annual mileage, make and model
You’ll then be asked to enter your email address before seeing your quote.
The whole process can be completed in minutes, and you’ll have the option to purchase coverage if you’re happy with the cost.
GEICO offers a wide range of discounts to policyholders, which can lead to major savings on premiums.
Here’s an overview of the discounts the company promotes:
- Air bag: up to 25% driver’s side and an additional 15% for the passenger side
- Anti-lock brakes: up to 5%
- Anti-theft system: up to 25%
- Daytime lights: up to 1%
- New car discount: up to15%
Driving History and Habits
- Good driver discount: up to 26% for five accident-free years
- Seat belt use: up to 15%
- Defensive driving and drivers education courses: Discount varies
- Good student discount: With a “B” average or higher, students between 16-24 can get up to 15% off.
- Emergency deployment: up to 25%
- Military: up to 15%
- Federal employee: up to 8%
- Membership and employee: Discounts vary
- Multi-vehicle: up to 25% off most coverages
- Multi-policy: Discount varies
GEICO promises 24/7 customer support, 365 days a year.
While you don’t have a local agent with GEICO, you do get access to the best online experience of any car insurance provider, as both GEICO’s app and website are excellent.
You have several ways to reach out to their virtual team of agents, by phone, email, the website, or the app.
As one of the most trusted names in insurance, GEICO takes securing your information seriously.
They provide extensive information on their security policy and resources on detecting fraudulent activity.
The GEICO site uses SecureTrust to protect your data and payment information.
Pros and Cons of GEICO
There’s a lot to love about GEICO. Take a moment to consider some of the pros, and cons, of buying one of their car insurance policies.
- Online experience: GEICO’s app and website make everything from getting quotes to managing your account effortless.
- Cost: GEICO has some of the lowest car insurance rates out there, scoring a 5/5 from J.D. Power for affordability.
- Discounts: GEICO offers an extensive lineup of discounts, with something for nearly everyone.
- Interaction: J.D. Power gave GEICO a 2/5 for interaction between the company and clients, which is lower than many of its competitors.
- No gap coverage: GEICO does not offer gap insurance, which can help with paying off a car loan.
Alternatives to GEICO
The best way to get the lowest rates and the right policy is to compare multiple car insurance companies.
Take a look at the alternatives below as you consider all of your options:
- Progressive: Progressive is another of the cheapest car insurance providers, so if cost is your main concern, you’ll want to compare quotes here.
- State Farm: If you want a big name brand and interaction with a dedicated local agent, take a look at State Farm, though you may pay more for coverage.
- Esurance: If you’re a fan of forward-thinking apps that let you manage your account for yourself, give Esurance a try.
Is GEICO Car Insurance For You?
GEICO is a car insurance company worth considering for most people.
Its affordable coverage is hard to match, and you get access to several types of coverage and discounts.
The 24/7 customer service and intuitive app and website are bonuses.
Ultimately, whether or not GEICO is the right company for you depends on your unique goals and needs. Do your research and compare quotes to make the call.