Geico Insurance review 2024
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At a glance
Score breakdown
Auto
4.4
Cost & ratings
4.7
Coverage
4.0
Support
4.4
Home
0.0
About Bankrate Score
Bankrate's take
Nationwide availability, low rates and options for drivers with a wide range of risk profiles could make Geico a strong option for many drivers seeking affordable auto insurance coverage. However, Geico only underwrites its auto coverage, so customers seeking a one-stop-shop for auto, home and life insurance may want to look elsewhere.
- Cheap auto premiums compared to national average
- Digital-forward approach with fewer local agents
- Discounts for younger drivers
- Below-average J.D. Power customer satisfaction scores in 7 out of 11 regions
- Below-average J.D. Power auto claims satisfaction score
- Does not write its own home or life insurance
New
Geico is cutting ads; to offset the impacts of inflation, Geico led big-name insurers in reducing advertising budgets in 2023. The company spent under $1 billion in advertising in 2023, compared to over $2 billion two years prior.
In August 2022, Geico closed all 38 Geico Field Representative (GFR) offices in California. Californians can still acquire coverage via the Geico mobile app or online.
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Geico car insurance review
Geico received a 4.4 Bankrate Score out of 5 points for its auto insurance product. In the 2024 Bankrate Awards, Geico was named as one of the two best car insurance companies overall and tied with Auto-Owners for Best Budget Auto Insurance Company. Geico was also selected as the Best Car Insurance Company for Young Drivers in recognition of its low rates and competitive discounts for teens and young adults. To determine Geico’s Bankrate Score and award eligibility, the insurance editorial team considered average premium data, available coverage and discounts, financial strength ratings, digital insurance features and third-party rankings for customer satisfaction.
In other words, Geico’s high Bankrate Score suggests that it’s at the top when it comes to meeting its customers’ needs. In particular, Geico may meet the needs of customers seeking basic auto coverage on a budget. While Geico is missing key coverage add-ons that may matter to some drivers — such as gap insurance — its generous list of discounts could offer significant savings, especially to younger drivers, safe drivers and military members or government employees.
BANKRATE AWARD WINNER FOR BEST AUTO INSURANCE OVERALL (TIE), BEST BUDGET AUTO INSURANCE COMPANY (TIE) AND BEST AUTO INSURANCE COMPANY FOR YOUNG DRIVERS
Geico offers below-average auto insurance rates as well as a solid mix of coverage options, discounts and digital tools. These factors, combined with customer satisfaction and financial strength scores, earned Geico Bankrate Awards for Best Auto Insurance Company Overall (tied) and Best Budget Auto Insurance Company (tied). Geico offers competitive rates for newer drivers and a plethora of discounts geared toward younger drivers.
See why Geico wonPros and cons of Geico car insurance
If you’re comparing auto insurance rates, considering Geico’s pros and cons might help you in your decision.
Pros
- Average rates are lower than the national average
- Average rates for drivers with an at-fault accident may be more affordable than competitors
- Robust digital tools for online policy management
Cons
- May have limited local agencies for those who want in-person support
- No gap insurance
- Below-average J.D. Power scores for customer satisfaction, claims and digital service experience
Geico car insurance cost
Based on Bankrate’s study of rate data from Quadrant Information Services, Geico is one of the cheapest car insurance companies. Its 2024 average cost of car insurance is $2,031 per year for full coverage and $550 per year for minimum coverage. This is notably lower than the 2024 national average cost of car insurance at $2,329 per year for full coverage.
How much is Geico car insurance?
Your driver profile — which encompasses rating factors like your driving record, credit history (in most states) and age — gives Geico a basis for calculating your financial risk as a driver. While most driver profiles receive comparatively low rates from Geico, high risk factors like poor credit or moving violations typically correlate with higher premiums.
Driver profile
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Geico full coverage premium
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National full coverage premium
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---|---|---|
Good driver, good credit
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Geico full coverage premium
$2,031
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National full coverage premium
$2,329
|
Geico full coverage premium
$2,958
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National full coverage premium
$4,366
|
|
Geico full coverage premium
$2,492
|
National full coverage premium
$2,857
|
|
Geico full coverage premium
$2,874
|
National full coverage premium
$3,378
|
|
Geico full coverage premium
$4,616
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National full coverage premium
$4,532
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Geico car insurance quotes by age
The age of a driver and the years of driving experience they’ve accumulated may also play an important role in determining car insurance rates. Young drivers and those who are newly licensed typically pay more for car insurance than drivers with more years of experience behind the wheel. Average insurance rates by age show that auto insurance premiums do tend to decrease over time until your 60s, but you may be able to find the best car insurance rate at any age by compiling car insurance quotes.
For younger drivers, staying on a parent’s policy can keep rates low. The rates shown below are based on a clean driving record.
Age
|
Geico full coverage premium
|
National full coverage premium
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---|---|---|
Geico full coverage premium
$4,382
|
National full coverage premium
$5,069
|
|
Geico full coverage premium
$3,730
|
National full coverage premium
$4,365
|
|
Geico full coverage premium
$3,928
|
National full coverage premium
$4,804
|
|
Geico full coverage premium
$2,334
|
National full coverage premium
$2,932
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|
Geico full coverage premium
$2,069
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National full coverage premium
$2,522
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|
Geico full coverage premium
$2,031
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National full coverage premium
$2,329
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|
Geico full coverage premium
$1,899
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National full coverage premium
$2,135
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Compare Geico car insurance rates
Geico’s average car insurance rates are below the national average — but that doesn’t mean that Geico will offer the cheapest rates for every driver. Comparing personalized quotes can help you determine whether Geico or another carrier offers the lowest prices for your profile, but the table below may act as a starting place for your shopping process.
Company
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Avg. full coverage premium
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Avg. min coverage premium
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---|---|---|
$2,031
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$550
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$2,591
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$819
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$2,018
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$627
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$2,866
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$840
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$1,962
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$531
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$1,856
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$645
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$2,421
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$759
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$1,811
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$507
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$1,899
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$675
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$1,739
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$453
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Geico customer satisfaction
Bankrate’s insurance editorial team looked at third-party ratings from J.D. Power and the National Association of Insurance Commissioners (NAIC) for insight into Geico’s customer satisfaction. In J.D. Power’s auto insurance studies, including the 2023 U.S. Auto Claims Satisfaction Study, Geico’s performance is mixed, suggesting some pain points for customers. The NAIC Complaint Index, on the other hand, shows a comparatively low rate of formal customer complaints relative to Geico’s large market share.
Geico auto claims satisfaction
Geico's scores in the 2024 J.D. Power U.S. Auto Insurance Study vary depending on the region. Of the 11 regions, Geico scored above the industry average in four of them: Florida, New England, New York and Texas. It also ranked second for usage-based insurance, behind Nationwide. In the 2023 J.D. Power U.S. In The Auto Claims Satisfaction Study, Geico landed just below the industry average for claims satisfaction.
Geico auto insurance customer complaints
NAIC complaint index scores indicate whether an insurer’s complaint rates are higher or lower than the industry baseline of 1.00. Scores below the baseline correlate with a low number of complaints relative to the company’s market share.
With a 2023 NAIC complaint index score of 0.55 for private passenger auto insurance, Geico has fewer complaints on average for a company of its size. This index may indicate that Geico's auto insurance policyholders are less likely to file complaints regarding the service they received.
Geico car insurance discounts
Geico policyholders have access to numerous potential discounts that may help them save on car insurance. Some discounts include:
- Membership and employee discounts: You may be eligible for a discount if you are a member or employee of a participating affiliate company or organization.
- Military discounts: Both active duty and retired military policyholders, as well as members of the National Guard or Reserves, may save up to 15 percent on Geico auto insurance.
- Emergency deployment discounts: Geico provides up to 25 percent off car insurance for service members who experience an emergency deployment.
- DriveEasy safe driving discount: This usage-based telematics program tracks participating members' driving habits and may offer premium discounts to safe drivers.
- Multi-vehicle discount: Geico may extend a discount to policyholders who insure multiple vehicles on the same policy.
- Good student discount: Full-time students who maintain a strong academic record may receive a discount of up to 15 percent.
Geico home insurance review
Because Geico does not write its own home insurance policies, it did not receive a Bankrate Score for home insurance. Instead, Geico works with non-affiliated insurance companies to offer homeowners insurance quotes to customers nationwide, with a discount for customers who bundle their home and auto insurance together. For some customers who already have auto insurance through Geico, Geico may offer the best homeowners insurance options, but you may want to consider other carriers if you prefer to have all your coverage through the same company.
Pros and cons of Geico homeowners insurance
If you’re considering getting home insurance quotes from Geico, consider the following advantages and disadvantages of choosing Geico as your home insurance provider:
Pros
- Option to service both policies in one place
- Bundling discounts may be available
- Some underwriting companies may offer competitive rates
Cons
- All home insurance policies written through non-affiliated companies
- Geico acts as an agent, not the insurance provider
- Coverage options may vary depending on underwriting company
Geico home insurance cost
Because Geico’s home insurance policies are underwritten by a wide range of companies, there’s no available data on the average cost of a homeowners insurance policy from Geico. If you choose to get home insurance quotes through Geico, keep in mind that the national average cost of homeowners insurance is $2,270 for $300,000 in dwelling coverage, according to Bankrate’s research.
Geico customer satisfaction
Geico isn’t rated in J.D. Power’s property insurance studies because it issues home insurance policies through non-affiliated companies. For the same reason, any homeowners insurance complaints submitted to the NAIC by Geico customers are attached to the companies underwriting the coverage rather than Geico, which only acts as an agent for homeowners insurance. If you want to purchase home insurance through Geico, consider looking up the NAIC complaint index for the company that issues your quote.
Geico life insurance review
Similar to its home insurance policies, Geico life insurance is offered through partner companies. Geico's partnered life insurance offerings are available in three policy types: term life, whole life and universal life insurance. Term life insurance provides coverage for a specific amount of time, such as 10 or 30 years, and is typically used to replace lost income and cover future expenses if the policyholder passes away during the policy term. Customers shopping for the best life insurance company may be able to obtain a term life insurance policy through Geico's partner companies with no medical exam, but they will likely still have to fill out a health and lifestyle questionnaire.
Whole life insurance and universal life insurance are both types of permanent life insurance. These policies do not have a policy end date as long as policy terms are fulfilled. In addition to helping with income, permanent life insurance policies could also be an integral part of estate planning. However, because Geico writes these policies through separate underwriting companies, it’s impossible to give a thorough Geico life insurance review that will apply to all customers purchasing life insurance through Geico.
Compare life insurance providers quickly and easily
See which provider is right for you.
Whole life insurance combines life insurance with an investment component.
- Coverage for life
- Tax-deferred savings benefit if premiums are paid
- 3 variations of permanent insurance: whole life, universal life and variable life include investment component
Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time.
- Fixed premium over term
- No savings benefits
- Outliving policy or policy cancellation results in no money back
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Compare Geico with other insurers
If you’re still wondering if Geico could be a good fit for your insurance needs, you may want to consider requesting quotes from the companies below:
Featured
Geico
4.4
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings
Cost & ratings 4.7Coverage 4.0Support 4.4 |
Allstate
4.1
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings
Cost & ratings 3.8Coverage 4.5Support 4.0 |
Nationwide
4.2
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings
Cost & ratings 4.3Coverage 3.9Support 4.2 |
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OVERVIEW
Bankrate identified key carrier features, coverage offerings, discounts and more
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Policyholders who value cheaper car insurance and digital capabilities over bundling multiple insurance policies with the same company might consider Geico as their company of choice.
Read More
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Allstate, another major insurance company, dominates 5 percent of the total market share compared to Geico’s nearly 7 percent. Allstate also trailed Geico in terms of Bankrate Scores, earning a 3.9 auto Score to Geico’s 4.4. Like Geico, Allstate offers a couple of discounts and special programs that may appeal to younger drivers like the teenSMART driver education program and good student discount. When it comes to homeowners looking to bundle, Allstate edges out Geico. Allstate was awarded the 2024 Bankrate Award for Best Home Insurance Company Overall (tied with USAA) and Best Company For Bundling Home and Auto.
Read More
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Low-mileage drivers and those who want to build safe driving habits may appreciate Nationwide’s two telematics programs: SmartMiles and SmartRide. Nationwide could also be an option for those who want to bundle home and auto insurance with the same carrier, as the company writes its own homeowners insurance policies. Consumers should note that Nationwide did score below the industry average in J.D. Power's auto claims satisfaction study.
Read More
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STANDOUT FEATURES
These features are some of the carrier’s most impressive
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Overall cheap rates
Strong digital tools
Good for new drivers
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Strong home insurance product
Superior bundling discount
Teen safe driving program
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Two usage-based discounts
Wide network of agents
Low average premiums
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AVG FULL COV. AUTO RATE
Average national annual cost of a full coverage auto insurance policy
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$2,031 | $2,866 |
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J.D. POWER AUTO SCORE
J.D. Power’s Auto Claims Satisfaction Study assesses customer satisfaction with the claims experience on a 1,000-point scale
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874/1000 |
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868/1000 |
AVG HOME RATE
Average national annual cost of a home insurance policy with $300K in dwelling coverage
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No rates available | $2,046 |
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J.D. POWER HOME SCORE
J.D. Power’s Property Claims Satisfaction Study assesses customer satisfaction with the claims experience on a 1,000-point scale
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Not Scored | 809/1000 |
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AM BEST RATING
AM Best ratings assess companies’ financial strength based on historical ability to pay out claims, among other financial obligations
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A+(Superior) | A+(Superior) |
Why you can trust Bankrate
Read our full methodologyOur insurance editorial team includes licensed agents with decades of combined experience, and we used our intimate knowledge of the industry to conduct this in-depth Geico insurance review.
46
years of industry expertise
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
Is Geico a good insurance company?
Bankrate’s insurance editorial team is made up of licensed agents and other industry professionals with combined decades of experience in the world of insurance. Based on the findings of our Geico insurance review, we concluded that Geico may be a good option for drivers seeking a cheap car insurance company with tons of availability, good digital tools and a focus on online shopping and policy management rather than brick-and-mortar agencies.
On the other hand, Geico doesn’t underwrite many other types of insurance, making the carrier a less attractive option for customers seeking a company to manage both auto and home insurance policies. If you’re looking for an insurance provider for affordable home insurance in addition to your auto policy, you may want to look at other companies, such as Allstate or Nationwide, to see if their offers are competitive with Geico’s.
What are real-life customers saying about Geico?
To get a better sense of how Geico policyholders feel about their provider, we looked at comments on social media, including Reddit and TikTok. As one of the nation’s largest private passenger auto insurers, with just over 12 percent of the market share, Geico receives a lot of hate online from current and former customers. But in addition to rants and complaints, we also found satisfied customers in the mix: people who’d been with Geico for years without incident and enjoyed low rates in spite of the turbulent market.
On Reddit, we found plenty of frustrated Geico customers, many of whom cited poor communication around insurance claims and an over-emphasis on digital tools for customer service. But for some policyholders, Geico’s digital emphasis was a benefit — and we noted that many customers reported staying with Geico for decades thanks to their low rates.
TikTok
Mentions of Geico on TikTok mainly center around various customer complaints and scandals, such as a woman in Michigan whose Geico claim was denied due to paperwork she hadn’t filed when she moved to the state. In the comments of this video, we found plenty of outrage, some of which came from current or former Geico customers with similar experiences. However, we also found customers who hadn’t encountered any problems with Geico despite being with the company for years.
What Bankrate staffers have to say about Geico
Shannon Martin, Geico customer for 15+ years
- Consistently offers the lowest rate
- Fast glass claim repair
- Can easily make policy changes online or in the mobile app
“Since I have been an insurance agent for so long, I prefer to make policy updates without agent intervention. Geico’s mobile app and website made it easy for me to increase my liability limits and add a new truck to my policy. I did have to call in to put my Kia on a storage plan, but it was a fast transaction, and Geico is one of the few carriers left that will allow me to keep comprehensive coverage on my Soul.”
*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.
Geico company details
Geico offers customers a few ways to get in contact, with an emphasis on online and mobile customer service.
- Customer service: 1-800-207-7847
- Military support: 800-MILITARY (645-4827)
- Chat/email: Geico.com allows customer to connect to agents and make policy changes
- Claims: Claims can be filed and managed online through Geico’s website or mobile app, or by calling its toll-free claim number at 1-800-841-3000. For a comprehensive list of claims numbers, please visit the company's claims reporting page.
- Emergency roadside assistance: This can be done online through Geico’s website or mobile app or by calling 1-800-424-3426.
- Mailing address: Each region and insurance type has a different address, follow this link for specific contact information.
State availability
Geico auto and home insurance is available in all 50 states and Washington, D.C. Depending on your state, the underwriting company for your home insurance may vary.
Geico tools and benefits
Auto insurance may be Geico’s most popular product, but customers can also access the following:
- Additional insurance products: Travel insurance, jewelry insurance, identity theft protection and pet insurance are just a few additional insurance options available through Geico.
- Dedicated military support: Geico’s 800-MILITARY phone line and Military Deployment Center offer unique support tailored to the insurance needs of military members and families.
- Car buying resources: Geico offers online tools and calculators to help customers budget for a new car purchase, including estimating their updated insurance costs.
- Parking locator: Geico’s mobile app includes a parking locator function that can help you find a space to park in an unfamiliar or busy area.
- Auto Repair Xpress: Geico’s Auto Repair Xpress program aims to make finding a shop during an insurance claim more convenient.
Frequently asked questions about Geico
Methodology
Auto
Bankrate utilizes Quadrant Information Services to analyze 2024 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Age: Rates were calculated by evaluating our base profile with the ages 16-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.
The rates for drivers ages 16-20 added to their parents' policy reflect the good student and driver's training discounts applied. The rates for drivers aged 16-20 on their own policy do not include the good student and driver's training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and single at-fault accident.
Bankrate Scores
Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlight where they fall short.
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Cost & ratings 50%
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Coverage & savings 30%
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Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.
Tier scores are unweighted to show the company's true score in each category out of a possible five points.
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