Geico Car Insurance Review for 2023
Geico and Nationwide are tied for the No. 4th place in our list of the 2023 Best Auto Insurance Companies. Additionally, the business ranks among the top five for customer service, claims handling, and customer loyalty. Geico comes in at No. 2 for the lowest annual average rates, which were less than half of the national average.
In general, Geico might be a good option for many motorists. Compared to the national average, it has the second-lowest average annual rate in our study, at about $300 less. Just USAA has below by and large, however USAA just offers protection to individuals from the tactical local area and their family members.
Geico also had some of the lowest rates among insurers in the subcategories we looked at. In addition, the company is in the top five for customer service, handling of claims, customer loyalty, and the likelihood of being renewed or recommended.
When it comes to customer service, Geico falls somewhere in the middle. Our outcomes, in light of a blend of overview reactions and different sources, found that it ties for No. 4 with Farmers, Travelers, and Nationwide 50% of respondents indicated that they were completely satisfied with Geico’s customer service.
Additionally, half of respondents expressed complete satisfaction with the ease of contacting Geico’s customer service. When it comes to respondents who had made a claim with Geico, these numbers are about the same.
Geico Claims Handling Geico ranks No. 1 in claims handling alongside Farmers, State Farm, and Nationwide. 3 on our scale. Regarding the process of filing a claim, 48% of respondents stated that they were completely satisfied with both the ease with which they were able to do so and the updates they received regarding their claims. 49% of respondents stated that they were completely satisfied with the manner in which their claim was resolved.
Geico and AAA are tied for the top spot in terms of customer loyalty. 4. 43% of customers who have not made a claim said they would highly recommend Geico to others looking for auto insurance, and 55% said they would highly renew their own policy. 42% of claimants indicated that they would highly recommend Geico to others seeking auto insurance, and 51% indicated that they would highly renew their own policy.
What is Geico’s car insurance cost?
Our research reveals that Geico has the second-lowest average annual rate, coming in at $1,250, 19% below the national average of $1,547. The only company with averagely lower rates is USAA, but that business does not sell its products to the general public. Although Geico does not have the lowest rates in any one subcategory, it is fairly close in several, including drivers with poor credit, teens, and young adults. Drivers with only one DUI are the only exception, for whom Geico rates are among the highest.
The rates offered by Geico are approximately $2,000 lower than the national average for teenage males and nearly $1,586 lower than the national average for teenage females. USAA has the lowest rates for teens, coming in $350 lower than Geico for females and nearly $380 lower than Geico for males.
USAA is only available to military members. Geico has the third-lowest rate for female teen drivers, while State Farm has the second-lowest rate. American Family comes in third, while Geico has the lowest rates for male teen drivers. The rates offered by Geico are less than half of Farmers’ teens’ highest rates. Geico costs $4,700 less for female teens and nearly $5,200 less for male teens.
Young adults can get affordable insurance from Geico, with rates that are about $400 lower than the national average for females and $500 lower than the national average for men. In our rating of insurers, the company has the second-lowest rates in this category. USAA has the lowest rates in this category, but Farmers has the highest rates for young adults, costing $1,039 more for female young adults and over $1,200 more for male young adults than Geico.
Compared to national averages, Geico’s sample annual rates are $270 lower for females and nearly $250 lower for males. USAA offers the lowest rates, which are $300 cheaper for men and $260 cheaper for women than Geico’s rates. The second-cheapest premium in this category, Geico’s, is significantly lower than Allstate’s, which are the highest. Compared to Allstate, Geico charges nearly $900 less for female adults and $827 less for male adults.