GEICO Review

One of the largest — and most recognizable — insurance providers in the United States, GEICO is also one of the most affordable options thanks to its extremely competitive pricing and wealth of discounts. And it ranks higher than its competitors in claim satisfaction, making it an all-around great choice for everyday drivers looking for value and reliability.

Rating Breakdown

Overall: 4.6
Price: 4.5
Customer Service: 5,0
Coverage Options: 4.5

Overview

GEICO, or the Government Employees Insurance Company, is the second-largest insurance provider in the U.S., claiming a market share of about 13 percent in 2019 and writing policies in all 50 states plus the District of Columbia. Originally an auto insurer for federal employees, the company started offering coverage for the general public in 1974, and has since become a household name, thanks to its popular line of commercials. Its ubiquity is well-earned: the company is one of the highest-rated options out there, not just because of its affordability but also its stand-out customer satisfaction.

In terms of coverage options, GEICO is much like other large providers on the market, offering all of the basic policies and services. Customers can insure their car, motorcycle, RV, or commercial vehicle with GEICO’s auto insurance, which covers standard damages and liabilities plus a host of other add-ons, such as medical and emergency roadside service. You can also insure your home, condo, or business with the company’s property insurance, which also includes coverage for renters and floods. Additional insurance options are more limited, but you can still get your life, travel, or pet protection with GEICO, which is enough for most people’s needs.

GEICO also offers several unique add-ons and discounts for further protecting your vehicle. In particular, the company’s mechanical breakdown insurance will cover the cost of repairs on your new or leased car, assuming it’s less than 15 months old and has less than 15,000 miles. It doesn’t pay for regular tuneups, damage resulting from normal wear and tear, and there’s a $250 deductible, but it is renewable for up to seven years or 100,000 miles, and in general represents a more affordable alternative to simply extending your dealer warranty. Discounts — including those for safety equipment, driving history and habits, and customer loyalty — can also help further lower the cost of your monthly payment.

Indeed, where GEICO really shines is in its overall affordability. Multiple ratings place the company among the most affordable, if not the most affordable, of the nation’s top three providers in most states, ahead of even Progressive, another larger insurer known for its competitive pricing. Drivers with a clean record and good credit can expect savings right off the bat with GEICO, but by taking advantage of the company’s many discounts, the opportunities are endless. Beyond the standard safe driving and loyalty discounts, customers can also get money back for equipping their car with anti-theft systems and anti-lock brakes, for completing a defensive driving or education course, or for going five years without an accident. True to its legacy as a federal insurer, GEICO also offers additional discounts to military members and government employees.

Finding out whether you’re eligible or getting a quote for all this can be easily done on GEICO’s website or mobile app, which is another place where the company sets itself apart. While GEICO’s agents are plenty accessible for users who want to speak to someone in person, customers can also buy insurance or submit claims entirely online, a process that is as quick as it is intuitive. GEICO’s mobile app for both iOS and Android even comes equipped with a virtual assistant, Kate, which can answer your insurance questions and provide specific policy information. In general, GEICO’s customer satisfaction rating is one of the best in the business — it scored an 879 on J.D. Power’s 2019 Auto Claims Satisfaction Study, well above the industry average and higher than State Farm and Progressive, the other two largest providers.

For drivers looking for affordability in their auto insurance without sacrificing convenience, then, GEICO can’t be beat.

Coverage Options

General coverage options:

Liability — covers typical actions you might be liable for as a driver, including bodily injury and property damage.
Comprehensive — covers weather, theft, vandalism and other events beyond your control.
Collision — covers damage to your car resulting from an accident, regardless of fault.
Uninsured/underinsured motorist property damage — covers personal injury and vehicle damage caused by a driver without insurance.
Medical payments and personal injury — covers medical expenses, lost wages, or other costs resulting from an accident, regardless of fault.

Extra coverage and benefits

Emergency road service — pays for towing service if your car breaks down on the road.
Rental reimbursement — pays for a car rental when your vehicle is in a covered accident.
Rideshare coverage — covers you when you’re logged into a ridesharing app like Uber or Lyft and waiting for a trip request/customer.
Mechanical breakdown — covers repairs on new or leased cars that are less than 15 months old and with less than 15,000 miles (except for regular maintenance or wear and tear)

Discount Opportunities

Multi-policy
Multi-car
Airbag
Anti-lock brakes
Anti-theft system
Daytime running lights
New vehicle
Five-year good driver
Seatbelt use
Defensive driving
Driving education
Good student
Emergency deployment
Federal employee (Eagle discount)
Membership and employee
Military

Other Insurance Options

Like other large providers, GEICO offers insurance for a host of other products, from property to business. In the former category, landlords can get covered for their buildings or renters can get covered for their apartments, among others; in the latter, business owners can get coverage for general or professional liabilities or for worker’s compensation. Customers who use Uber and Lyft frequently will also benefit from the GEICO’s rideshare insurance, which protects you when you’re logged into either service’s app.

One drawback is that, unlike some other large insurers, most of these plans are provided by GEICO’s partner companies, which means you’ll have to juggle multiple providers. But the vast majority result in discounts for auto policy holders — another area where customers have the opportunity to save big bucks. In particular, bundling your auto and property insurance with GEICO can get you heavy discounts on both.