Luis Pazos 
Key Takeaways:
- Geico is often one of the cheapest car insurance options available in many states.
- They offer combined rideshare and personal car insurance on a single policy, covering you for both work and personal driving.
- Geico has excellent online tools allowing customers to manage their insurance policies without needing to contact an agent.
- They offer numerous discounts and a handy mobile app for shopping for insurance, paying premiums, accessing ID cards, and filing claims.
- Geico Express lets you make quick payments and access policy details without logging in.
Geico, known for its popular gecko commercials, is one of the most recognized car insurance companies in the U.S. and is the second-largest. Let’s dive into why Geico stands out.
About the Company:
Geico is the second-largest car insurance provider in the U.S., holding 14.05% of the market, right behind State Farm. They serve over 17 million customers and insure 28 million vehicles, with more than $34 billion in premiums written. Geico operates 24/7 all year round and offers a broad range of insurance products through affiliations with seven other companies.
Geico Car Insurance:
Geico is among the cheapest car insurance providers in many states, offering the lowest premiums in about 10 states. They cover all 50 states and D.C., and insure a variety of vehicles including cars, commercial autos, classic cars, snowmobiles, motorcycles, RVs, ATVs, UTVs, and boats. Their customer support is available 24/7 by phone. According to the JD Power 2023 study, Geico ranks 4th out of 14 car insurers in California with a score of 830/1000 points. They hold top financial strength ratings of A++ from A.M. Best and an A+ from the Better Business Bureau.
How to Sign Up:
Signing up for Geico car insurance can be done online without entering sensitive information like your Social Security number. Their online system provides a hassle-free way to get quotes without receiving unsolicited calls or emails.
Unique Features:
- Discounts: Geico offers a vast array of discounts.
- Accident Forgiveness: Your rate won’t increase after your first at-fault accident, and more forgiveness can be earned with loyalty.
- DriveEasy: An app-based scoring system based on driving habits.
- Rideshare Coverage: Coverage for drivers engaging in rideshare services like Uber or Lyft.
Coverage Options:
- Standard coverage: Bodily injury and property liability, collision and comprehensive, uninsured/underinsured liability, medical payment, and personal injury protection.
- Optional coverage: Rental car reimbursement, rideshare coverage (not available in all states), 24/7 roadside assistance, mechanical breakdown coverage, and DriveEasy for driving evaluations.
Discounts:
Geico offers multiple discounts, including savings for airbags (23%), anti-lock brakes (5%), anti-theft systems (23%), new vehicles (15%), good drivers (22%), and many more. Special discounts are available for military personnel, federal employees, and multi-policy holders.
Sample Premiums:
Rates for Geico car insurance vary based on coverage levels and driver profiles. For instance, a 23-year-old male in Houston, TX, can expect to pay $399 for minimum liability coverage and $1,051 for comprehensive coverage including uninsured/underinsured motorist protection. Similar data is available for different profiles and coverage scenarios.
Who Geico Is Best For:
- Low-cost provider in your state for your profile.
- Rideshare drivers.
- Multiple drivers and vehicles.
- Preference for online quotes.
- Drivers over 75.
Geico vs Other Companies:
Comparing Geico with Progressive, State Farm, and Allstate reveals that Geico typically offers lower premiums and holds high ratings for claims satisfaction and financial strength.
What to Know About Auto Insurance:
When shopping for car insurance, ensure you have enough coverage to protect your assets, maintain good credit for better rates, consider additional coverage options, balance deductibles, look for discounts, and compare quotes from multiple companies.
Other Services Offered:
Geico also provides home, motorcycle, ATV, RV, boat, personal umbrella, life, flood, overseas, business, professional liability, general liability, commercial auto, collector car, identity protection, jewelry, medical malpractice, and pet insurance.
Bottom Line:
Geico is a major player in car insurance, serving nearly one in seven American drivers. While shopping around is essential, Geico’s competitive rates and extensive offerings make it worth considering.
How We Review Insurance Companies:
Good Financial Cents reviews insurance providers based on policy offerings, customer experiences, and reliability. Our ratings are informed by comprehensive research and customer feedback, resulting in a balanced evaluation.
