The Government Employees Insurance Company(GEICO) is an American auto insurance company with headquarters in Maryland. It is the second largest auto insurer in the United States, after State Farm & 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.
GEICO sells auto insurance along with home, renters and motorcycle insurance.Geico is known for providing low-cost car insurance with a wide range of coverage types. In addition to policy options that cover just about any type of vehicle you might own, you’ll find that Geico auto insurance offers multiple discounts that you may qualify for.
Geico Pros and Cons
- Easy to file a claim
- Good value for the money
- Study rates are lower than average
- Robust website and mobile app.
- Many discounts available
- Fast claims processing
- Claim updates can be spotty
- Sometimes hard to contact an agent
- Pricey representative premium with a DUI
- Low credit score can increase premiums in some states
- Limited network of local agents.
- Some coverage types available only through partners.
- No discounts for hybrid/electric
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.
Types of coverage
- Motorcycle insurance
- ATV insurance
- RV insurance
- Rideshare and on-demand delivery drivers insurance
- Collector auto insurance
- Boats and personal watercraft insurance
- Mexico insurance
- Commercial vehicle insurance
Geico’s auto insurance discounts:
Details vary by state, you may be eligible for discounts for:
- Defensive driving discount
- Driving for five years with no accidents.
- Using seat belts.
- Vehicle equipment discounts
- Having good grades, if you or someone on your policy is a full-time student 16 to 24 years old.
- Military and public service discounts
- Being an active or retired military service member or a member of the National Guard or Reserves.
- Buying a homeowners, renters, condo or mobile home policy through Geico.
- Multi-vehicle discount
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 Financial Fitness
In 2016, Geico jumped ahead of insurance giant Allstate to gain 12 percent of the market share and become the second-largest insurer in the country. State Farm, the No. 1 insurer with more than 18 percent of the market, is a tough leader to catch.
Also in 2016, Geico’s underwriting profits were at $462 million, $2 million higher than the previous year. Its parent company, Berkshire Hathaway, had underwriting profits of about $2 billion that year.
GEICO is a good insurance company that offers its customers satisfactory rates, positive customer service and a convenient user experience. In particular, GEICO’s auto insurance rates for drivers with no recent accidents were consistently low.
GEICO can offer lower rates than many of its competitors & also GEICO sells auto insurance along with home, renters and motorcycle insurance. Positive reviews highlight the company’s customer service and low rates.
The fact that it sells insurance directly to consumers is another big reason why GEICO is so cheap
Towing coverage is included with GEICO Emergency Road Service coverage if you break down. Don’t pay out of pocket for towing. Let us arrange for a tow truck to get you to a repair shop, or send roadside assistance for: Jump starts for dead car batteries.
A bevy of positive reviews and high customer satisfaction ratings among insurance companies are a couple of reasons to choose Geico insurance company as your go-to. However, the online accessibility and multitude of discounts also helps.