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Geico Insurance review 2024

Shannon Martin is a licensed insurance agent and Bankrate analyst with over 15 years of experience in the industry. She enjoys helping others navigate the insurance world by cutting through complex jargon and empowering readers to make strong financial decisions independently.

Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.

Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.

The Bankrate promise

At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure.

At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure.

Editorial integrity

Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.

How we make money

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.

Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.

We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.

Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.

The Bankrate promise

Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.

Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.

Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you.

All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first.

At a glance

BEST AUTO INSURANCE COMPANY OVERALL (TIE), BEST BUDGET AUTO INSURANCE COMPANY (TIE), AND BEST CAR INSURANCE COMPANY FOR YOUNG DRIVERS

Score breakdown

Auto

4.4

Cost & ratings

4.7

Coverage

4.0

Support

4.4

About Bankrate Score

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.

Who Geico may be good for: Geico is known for having policy options that work well for preferred and high-risk drivers. With nationwide availability and plentiful discounts, Geico may be a good choice for budget-conscious policyholders seeking standard policy coverage. 

Who Geico may not be good for: Geico underwrites its auto policies, but it partners with other insurance companies for its home products, meaning Geico does not do the service or claim handling of these policies. Customers needing a one-stop service for all of their insurance needs may want to consider other options.

Auto

Avg. annual premium for full coverage

$1,741

Avg. annual premium for min coverage

$459

New

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.

Geico car insurance

Geico auto insurance received a Bankrate Score of 4.4 out of 5 points. To determine this Score, our insurance editorial team reviewed Geico’s average premiums, coverage options, discounts, customer satisfaction, financial strength and digital insurance features. The better a company performed in each of these categories, the higher its overall Bankrate Score.

Along with its high Bankrate Score, Geico was also named one of this year's best car insurance companies overall, as well as the Best Budget Auto Insurance Company in the 2024 Bankrate Awards and the Best Auto Insurance Company for Young Drivers. Thanks in part to its overall lower-than-average premiums and plentiful discount opportunities, Geico may be a good choice for drivers looking for a cheap premium. Average Geico car insurance rates are also significantly cheaper than the national average when adding a young driver to the policy. Plus, Geico offers a wealth of discounts specifically for younger or newer drivers, such as a good student and driver training discount.

Geico car insurance is available in all 50 states and Washington, D.C. Its coverage options are generally standard and it does not have as many optional add-ons as some other car insurance carriers. The only additional options listed on Geico's website are emergency roadside service, rental reimbursement and mechanical breakdown insurance.

Why Geico won

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.

How we rated it

Bankrate’s insurance editorial team has decades of combined industry experience, and we use our expertise to uncover the best insurance companies through our annual Bankrate Awards. Our goal is to give consumers an easy way to find a company that fits their unique circumstances. Based on our extensive research, we’ve recognized Geico as a 2024 Bankrate Award winner for the Best Auto Insurance Company Overall, Best Budget Auto Insurance Company and Best Company for Young Drivers.

Bankrate’s insurance editorial team has decades of combined industry experience, and we use our expertise to uncover the best insurance companies through our annual Bankrate Awards. Our goal is to give consumers an easy way to find a company that fits their unique circumstances. Based on our extensive research, we’ve recognized Geico as a 2024 Bankrate Award winner for the Best Auto Insurance Company Overall, Best Budget Auto Insurance Company and Best Company for Young Drivers.

Pros 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.

Average rates are lower than the national average

Average rates for drivers with an at-fault accident or moving violation on their record may be more affordable than competitors

Robust digital tools for online policy management

May have limited local agencies for those who want in-person support

Fewer optional coverage add-ons than competitors

Mobile app is highly-rated in the app store, but the company scored below the segment average for shopping in the J.D. Power U.S. Insurance Digital Experience Study

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 May 2024 average cost of car insurance is $1,741 per year for full coverage and $459 per year for minimum coverage. This is notably lower than the 2024 national average cost of car insurance at $2,299 per year for full coverage.

Car insurance companies may weigh driving records heavily when it comes to calculating car insurance rates. An at-fault accident or moving conviction, such as a speeding ticket or DUI, could make your car insurance more expensive compared to a driver with no accidents or tickets on their record. Below is a comparison of rates for drivers with different driving histories. A DUI conviction has been excluded as some insurance carriers may not accept drivers with a DUI.

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.

Below are comparisons that show young drivers both on and off their parents' policy, as well as how they compare to other age groups. All rates are for drivers with a clean driving record.

Average cost of car insurance for drivers on their parents’ policy

Geico car insurance discounts

Geico policyholders have access to numerous potential discounts that may help them save on car insurance. Some discounts include:

Get personalized auto insurance quotes

Powered by Coverage.com (NPN: 19966249)

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Geico home insurance

Geico does not write its own home insurance policies, but it works with non-affiliated insurance companies to provide homeowners insurance quotes to interested customers nationwide. The policies are secured through GEICO Insurance Agency, LLC, and may require additional research to see if they offer the best homeowners insurance for your needs. Although coverage options and discounts may vary based on the partner company, Geico does advertise a bundling discount for auto insurance customers who add a property insurance policy through the carrier.

Get personalized home insurance quotes

Answering a few quick questions to check your availability with Geico

Powered by Coverage.com (NPN: 19966249)

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Leaving so soon? Your custom quotes are just minutes away.

Geico life insurance

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.

Compare life insurance providers quickly and easily

See which provider is right for you.

Whole life insurance combines life insurance with an investment component.

Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time.

Powered by Coverage.com (NPN: 19966249)

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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:

Geico

Cost & ratings

Coverage

Support

Allstate

Cost & ratings

Coverage

Support

Nationwide

Cost & ratings

Coverage

Support

Is Geico a good insurance company?

Bankrate’s insurance editorial staff includes licensed agents and we aim to share our intimate industry knowledge to help our readers choose the best insurance company that suits their needs. Insurance is complex and we know that finding the right carrier isn’t always easy. That’s why we spend hundreds of hours each year conducting in-depth insurance company reviews.

Bankrate’s Geico insurance review revealed that the company does not underwrite many insurance products other than car insurance. However, its partnerships with non-affiliated companies allow customers to purchase most types of insurance, including affordable home insurance, umbrella and life insurance. If you are considering purchasing a Geico policy other than auto insurance, additional research on that particular company may be required to see if it’s the right fit.

Geico customer satisfaction

Bankrate analyzes a variety of metrics to evaluate an insurance company’s customer satisfaction, including third-party scores issued by J.D. Power. Every year, J.D. Power studies customer satisfaction, claims satisfaction and digital experience for various insurance companies across the country and issues them scores in each subject, with 1,000 being the highest score possible.

Since Geico partners with non-affiliated insurance companies for its home and life insurance products, you would want to search for rankings under the individual carrier name. For example, if you purchase a Liberty Mutual homeowners insurance policy through Geico, you would want to research claims and customer satisfaction rankings for Liberty Mutual.

However, Geico's full-service mobile app and online customer portals may be a big perk for tech-savvy shoppers. While the app is highly-rated on the App Store and Google Play, the company fell under the segment average in the service category of the J.D. Power 2023 U.S. Insurance Digital Experience Study. Consumers may be more satisfied with Geico's online sales flow as the company scored above average in the shopping category.

Geico's scores in the 2023 J.D. Power U.S. Auto Insurance Study vary depending on the region. Of the 11 regions, Geico scored above the industry average in five of them: California, Florida, New York, North Central and New England, where it had the highest ranking. It also ranked first for usage-based insurance. In the 2023 J.D. Power U.S. Auto Claims Satisfaction Study, Geico landed just above the industry average for claims satisfaction.

Geico customer complaints

Our editorial team also considers the National Association of Insurance Commissioners (NAIC) complaint index. The NAIC keeps track of how many complaints are lodged against an insurance company and translates this data into a complaint index score. To understand this data, know the baseline (or average) amount of customer complaints is 1.0. A complaint index score higher than 1.0 means the company receives more complaints on average for its size, and vice versa.

Geico has fewer complaints on average for its private passenger auto insurance for a company of its size. This index may indicate that Geico's auto insurance policyholders are generally happy with the company's service.

Other Geico tools and benefits

Auto insurance may be Geico’s most popular product, but customers can also access the following:

Frequently asked questions about Geico

Is Geico a sustainable company?

Geico supports three main initiatives through the Geico Philanthropic Foundation: education, community engagement and equity, justice, diversity and inclusion. The Foundation has donated an average of $6–8 million annually to over 7,000 charities in the last 20 years. It encourages policyholders and the wider public to submit their 501(c)(3) non-profit organizations for donation consideration, provided that the non-profit meets Geico’s criteria. Nominations can be made from the start of the year to November 30.

Geico supports three main initiatives through the Geico Philanthropic Foundation: education, community engagement and equity, justice, diversity and inclusion. The Foundation has donated an average of $6–8 million annually to over 7,000 charities in the last 20 years. It encourages policyholders and the wider public to submit their 501(c)(3) non-profit organizations for donation consideration, provided that the non-profit meets Geico’s criteria. Nominations can be made from the start of the year to November 30.

How do you file a claim with Geico?

Filing a claim with Geico can be done online through its website or the mobile app. Policyholders may also call the company's claims line at 800-841-3000.

As Geico homeowners insurance is offered through partner companies, contact information for property claims may vary based on the company that writes your policy. A comprehensive list of property claims contact numbers can be found on Geico's website.

Filing a claim with Geico can be done online through its website or the mobile app. Policyholders may also call the company's claims line at 800-841-3000.

As Geico homeowners insurance is offered through partner companies, contact information for property claims may vary based on the company that writes your policy. A comprehensive list of property claims contact numbers can be found on Geico's website.

How is Geico able to offer cheap car insurance?

Geico is known as a direct-to-consumer insurance provider. Since policyholders can buy insurance online, over the phone or via the mobile app, Geico doesn't have to pay for brokers to sell and service their insurance. These savings are passed down to its customers.

Geico is known as a direct-to-consumer insurance provider. Since policyholders can buy insurance online, over the phone or via the mobile app, Geico doesn't have to pay for brokers to sell and service their insurance. These savings are passed down to its customers.

What insurance products does Geico offer?

Geico has over 20 insurance products to help policyholders protect their future finances. Policies range from umbrella coverage, watercraft and business insurance to commercial and medical malpractice insurance. Aside from auto policies, most other products Geico sells are underwritten by non-affiliated insurance companies. These companies set the rate and provide service and claim assistance — Geico only sells the product.

Geico has over 20 insurance products to help policyholders protect their future finances. Policies range from umbrella coverage, watercraft and business insurance to commercial and medical malpractice insurance. Aside from auto policies, most other products Geico sells are underwritten by non-affiliated insurance companies. These companies set the rate and provide service and claim assistance — Geico only sells the product.

Auto

Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all 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 homeowners with a clean claims and incidents history, good credit and the following coverage limits:

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 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.

Homeowners

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply. 

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Shannon Martin is a licensed insurance agent and Bankrate analyst with over 15 years of experience in the industry. She enjoys helping others navigate the insurance world by cutting through complex jargon and empowering readers to make strong financial decisions independently.

Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.

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