Reviews Report
- Reviews.com scores Geico car insurance a 4.8 out of 5, based on discounts, financial stability, and customer satisfaction.
- Geico is rated A++ (Superior) by AM Best, the highest rating for financial strength.
- Geico is considered an affordable car insurance company due to its wide variety of discounts available.
Formally known as Government Employees Insurance Company and owned by Berkshire Hathaway, Geico is the second largest car insurance company in the United States, with 13.54% of the total market share. Geico was founded in 1936 and is headquartered in Chevy Chase, Maryland.
Many people know Geico from its signature motto, “15 minutes could save you 15% or more on car insurance.” The company has created a reputation for selling affordable auto insurance, and it has some of the most discounts in the industry. Geico sells car insurance in all 50 states and Washington, D.C.
Geico Car Insurance Overview
Geico has the highest possible rating from AM Best (A++), which indicates that the company is financially strong and has historically been able to pay policyholders in full after a claim. However, the auto insurance company is rated slightly below average for purchase experience in J.D. Power’s 2021 U.S. Insurance Shopping Study for the large insurer category.
Car insurance from Geico is also highly rated in several regions for customer satisfaction in J.D. Power’s 2021 U.S. Auto Insurance Satisfaction Study, ranking above-average in the California, New England, and Central regions. However, Geico fell short with one point below average in J.D. Power’s 2020 U.S. Auto Claims Satisfaction Study.
PROS
CONS
Geico Car Insurance Highlights
Geico Car Insurance vs. The Competition
| Reviews.com Score Score is based on company’s customer experience, financial stability, and coverage options. | J.D. POWER CLAIMS SATISFACTION J.D. Power scores are based on surveys for customer satisfaction and product quality. | AM Best AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. | ||
|---|---|---|---|---|
| Pin Geico | 4.8 | 871* | A++ | |
| Pin Allstate | 4.2 | 876* | A+ | |
| Pin Auto-Owners | 4.4 | 890* | A++ | |
| Pin State Farm | 5 | 881* | A++ |
Information accurate as of October 2021
J.D. Power’s 2020 Auto Claims Satisfaction Study. Based on a 1,000-point scale.
Geico vs. Allstate
Although Allstate has mixed scores in the J.D. Power Auto Insurance Satisfaction Study with only one above average score, Geico has the highest score in three regions. Coverage options are very similar, though Allstate offers additional coverage for custom equipment. As for claims satisfaction, Allstate scored higher with 876 compared to Geico’s 871 in the 2020 J.D. Power Study.
Geico vs. Auto-Owners
Auto-Owners only has 13 discount options listed on its site compared to Geico’s 16, but comparatively more coverage options. These include a common loss deductible, diminished value coverage, and a personal automobile plus package, which provides 10 additional coverage options. Auto-Owners has the same A++ (Superior) financial rating as Geico, but Auto-Owners does exceed Geico in claims satisfaction scores with J.D. Power, with a score of 890 compared to Geico’s 871.
Geico vs. State Farm
State Farm and Geico both have Superior financial strength ratings from AM Best, but State Farm offers just 13 discounts compared to Geico’s 16. However, State Farm offers two options for safe driving rewards programs whereas Geico has none. Additionally, State Farm’s 881 points exceed Geico’s claims satisfaction score of 871 points in the 2021 J.D. Power study.
Frequently asked questions
Methodology
We evaluated Geico based on discounts, coverage, online resources, financial strength and customer satisfaction to determine Reviews.com scores and create our best car insurance reviews. To compare car insurance companies with other providers across the board, we calculate each Reviews.com score based on the following:
- Discounts: Auto insurance companies that advertised more discounts received higher scores in our methodology.
- Financial Stability: Reviews.com utilized AM Best ratings to assign a score based on each car insurance company’s financial stability.
- Customer Satisfaction: J.D. Power ranks car insurance companies by customer satisfaction, so we used its 2021 Auto Insurance Satisfaction Study and the 2020 Auto Claims Satisfaction Study to evaluate customer satisfaction.
- Coverage: Car insurance companies were awarded higher scores for advertised coverage beyond the body liability, property liability, collision and personal injury protection.
- Online Resources: We reviewed the digital resources of each car insurance company and awarded higher scores to insurers with mobile claim estimates, digital insurance cards, and more.
About the Authors
Mandy Sleight is an insurance writer for Reviews.com. Over the last three years, she has covered insurance providers, coverage, costs of insurance, and more at MoneyGeek, Bankrate, and The Simple Dollar.
