Geico Insurance Review for 2020

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Geico Insurance Review The Bharat Express news
Geico Insurance Review The Bharat Express news

Geico reviews and ratings

  • Complaints against Geico are lower than expected for a company of its size.
  • Customer satisfaction ratings are average or better.
  • Website and mobile app have a wide array of features that tech-savvy customers may appreciate.

Geico is the nation’s second-largest auto insurance company, known primarily for low rates offered directly to consumers online and over the phone. If you’re looking for an affordable car insurance policy and you’re comfortable managing your own accounts online when an agent isn’t nearby, Geico might be right for you.

Rating: 4.17/5

We asked respondents to rate their car insurance company’s claim response, customer service, and value. Geico landed in second place out of 10 companies, with only USAA having a higher rating. People were generally pleased with the ease of filing a claim and with Geico’s customer service. Given this insurer’s reputation for saving its policyholders money, it’s no surprise that people gave it high marks for value as well. Let’s dig into the questions to see how people answered.

More than 80% of respondents said they were satisfied or completely satisfied with the ease of filing a claim with Geico. They were similarly satisfied with how their claims were resolved, with three-quarters reporting they were either satisfied or very satisfied with Geico’s resolution of their claims.

One person who took the survey said they found Geico to have “very good service, fast [and] friendly.” Another wrote that their vehicle was “in better condition than before the accident,” and they felt that Geico addressed all of their concerns. 

When asked to rate customer service, respondents were mostly pleased, and when it came to status updates and feeling like they were in the loop while a claim was being processed, drivers said Geico was communicative. About 75% of respondents rated Geico a 4 or 5 out of 5 for updates on their claims

But not everyone was thrilled with their experience. One respondent felt a “lack of attention when filing a claim.” Another said that they had to “call multiple times to get updates.” 

While those who took the survey were happy with Geico’s customer service, the lack of updates from Geico during the claims process seemed to make a difference. When asked how satisfied drivers were with the value of their Geico insurance, more than 50% reported being completely satisfied.

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More than 70 percent of respondents said they were likely or very likely to recommend Geico to others who are looking for auto insurance. About 15 percent of those who took the survey said they were unlikely or very unlikely to recommend it. As with almost any insurance company, most of these respondents said they wouldn’t recommend Geico because the rates are too high and they seem to rise for reasons they can’t understand.

One person noted that after their rates rose with Geico, they were able to find “higher coverage at [my] previous rate with another company.” Another said, contrary to Geico’s advertising campaigns, “When I switched over, I didn’t save any money on my auto insurance.”

When asked if they’d renew their Geico auto insurance, 73 percent were likely or very likely. About 14 percent were unlikely or very unlikely, and several in the survey had already switched. Many were switching for better rates with another company. This response was typical: “If the price was lower somewhere else, I would go.” Several people in our survey agreed with the respondent who said, “I already switched insurance companies because the premiums at Geico were too high after I got in an accident.”

Given these survey responses, it seems that Geico has better customer service than you might expect from a company that advertises having lower rates than its competitors. Most people in our survey were happy with the claims process from start to finish. They were satisfied enough to renew their own insurance and recommend Geico to others.

But even though it’s one of the least expensive insurance companies on average (see more on that below), customers are willing to switch from Geico as well. The lack of status updates during the claims process left some customers feeling ignored or displeased with the repair work on their vehicle.

Geico Pros and Cons

Pros

  • Easy to file a claim
    • Good value for the money
    • Study rates are lower than average
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Cons

  • Claim updates can be spotty
    • Sometimes hard to contact an agent
    • Pricey representative premium with a DUI

Geico Car Insurance Costs

When it comes to the average insurance rates in our study, only USAA is cheaper overall than Geico. However, what you pay for car insurance varies. The average insurance rates we’ll be talking about here are for comparative purposes only. Your rates will differ.

In addition to typical car insurance coverage choices, Geico offers:

  • Mechanical breakdown coverage. This covers repairs to all mechanical parts of a new car, less than 15 months old and with less than 15,000 miles, except problems caused by wear and tear. There’s a $250 deductible. Mechanical breakdown coverage is renewable for up to seven years or 100,000 miles, whichever comes first, and does not pay for regular maintenance such as tuneups.
  • Ridesharing insurance. If you drive for a rideshare company such as Uber or Lyft, or a delivery service like Instacart or GrubHub, this option allows you to have one policy that covers both personal and ridesharing use. You can replace your existing auto policy with this hybrid insurance on the ridesharing vehicle only. Geico’s ridesharing insurance is available in 40 states and the District of Columbia.

Geico’s auto insurance discounts:

Geico has a long list of car insurance discounts, so there’s a good chance you can find a price break that applies to you. Although details vary by state, you may be eligible for discounts for:

  • Having safety equipment like air bags, anti-lock brakes, daytime running lights or an anti-theft system.
  • Driving for five years with no accidents.
  • Using seat belts.
  • Completing a defensive driving course, or driver’s education for a young driver.
  • Having good grades, if you or someone on your policy is a full-time student 16 to 24 years old.
  • Participating in an emergency deployment with the U.S. military.
  • Being an active or retired military service member or a member of the National Guard or Reserves.
  • Being an active or retired federal employee.
  • Insuring more than one vehicle with Geico.
  • Buying a homeowners, renters, condo or mobile home policy through Geico.
  • Being a member of organizations such as alumni associations or sports groups.
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If you live in Pennsylvania, Geico also may offer you a discount for tracking your driving through your phone. The DriveEasy app measures habits like speeding, hard braking and using your phone while driving. For the price break to apply, all the drivers listed on your policy must participate.

Geico Car Insurance Rates by Age

AgeNational Average Rate
Single 25-year-old female$1,365.47
Single 25-year-old male$1,269.18
Married 35-year-old female$1,119.03
Married 35-year-old male$1,133.91
Married 60-year-old female$1,052.97
Married 60-year-old male$1,067.01

Geico Car Insurance Rates by Annual Mileage

Annual MileageNational Average Rate
6,000 miles$1,106.54
12,000 miles$1,167.93

Geico Car Insurance Rates by Coverage Type

Coverage TypeNational Average Rate
Low$1,087.80
Medium$1,167.93
High$1,254.53

Geico Car Insurance Rates by Credit History

Credit ScoreNational Average Rate
Good$1,174.83
Fair$1,380.33
Poor$1,854.73

Geico Car Insurance Rates by Driving Record

Driving RecordNational Average Rate
Clean record$1,167.93
With 1 speeding violation$1,510.16
With 1 accident$1,802.17
With 1 DUI$2,957.84

Who Should Get Geico Car Insurance?

Geico is one of the cheapest car insurance companies in our study across the board. For nearly every driver profile we analyzed, Geico’s study rates were among the lowest. The one exception is the driver profile with a DUI conviction. For this profile, Geico has the third-highest representative rate. 

More about Geico

Website: You can learn about and get a quote for almost any type of insurance through Geico’s website, and submit a claim or make a payment. The site also has a feature to help you find the nearest cheap gas station.

Mobile app: Geico’s mobile offering helps you keep track of your policy and billing details, access your digital auto insurance ID card, pay bills and submit claims. You can also use the app to chat by text with an agent, request roadside assistance, find parking and track your car’s maintenance history.

Voice assistance: Geico’s virtual assistant Kate is a feature of its existing app for iOS and Android users that can answer your insurance questions and provide specific policy information. Your Geico account is also accessible through Amazon’s Alexa and Google Assistant.

Geico’s phone number is 800-207-7847.

Other insurance from Geico

  • Motorcycle insurance.
  • Insurance for all-terrain vehicles.
  • Recreational vehicle insurance.
  • Commercial auto insurance.
  • Umbrella insurance.

Geico offers other insurance products, such as home insurance, through partner companies. When you buy a policy from one of these third parties through Geico, the company offers discounts on its car insurance — but you’ll still have to deal with multiple insurers.

Geico is owned by Berkshire Hathaway.

Contact Geico

www.geico.com