GEICO Auto Insurance Review [2024]: What Does It Offer Other Than Funny Commercials?

If you’re looking for an auto insurance company that offers great customer service, you found it in GEICO. They rank high on all customer satisfaction surveys and offer 24/7 customer service.

You may also find they have low premiums, but that depends on your circumstances and how they rate you as a driver. I feel they have plenty of discounts and are completely transparent about what you can get a discount for, which most insurance companies hide that information.

But whether GEICO is right for you depends on the type of coverage you want and how the premiums compare to other options and whether you can find an agent in your area as they don’t have nearly as many agents as other larger companies.

How we evaluate products

FinanceBuzz researches a number of factors in each auto insurance provider to create our reviews. These factors include cost and discounts, complaints and customer satisfaction, coverage, and ease of use. We also gather information from sources such as J.D. Power, AM Best, the National Association of Insurance Commissioners (NAIC), and the Better Business Bureau to ensure we provide the most useful information to our readers.

GEICO pros and cons

GEICO insurance ratings

GEICO provides more than 16 million auto insurance policies and insures more than 28 million vehicles across the country as of 2024, making it the third-largest personal auto insurer in the U.S.

A.M. Best, an insurance industry analysis company, gave GEICO A++ financial strength rating which reflects GEICO’s readiness to pay many claims without experiencing financial trouble.

In addition, the Kanbay Research Institute rated GEICO the #1 insurer for customer service, speed, and functionality.

Types of coverage	Liability insurance Medical coverage Uninsured and underinsured motorist Collision Comprehensive Emergency roadside service Mechanical breakdown Rental reimbursement Additional coverage is available for vehicles such as motorcycles, all-terrain vehicles (ATVs), recreational vehicles (RVs), boats, and collector cars
Discounts available	Discounts for vehicle safety features Good driver discount Defensive driving course discount Good student discount Military discount Emergency deployment discount Federal employee discount Bundling discounts Discount for using the DriveEasy app
Where you can use it	GEICO mobile app on Android and iOS GEICO website
Customer support	Customer Service phone number: 1-800-841-3000 Customer Service Web Contact Online chat offers 24/7 assistance
Availability	Available in all 50 states, but coverage options and discounts may vary based on your location

What types of auto insurance does GEICO offer?

When searching for car insurance companies, it’s essential to know the level and type of insurance you need. Many states require at least a basic level of coverage, and I suggest that you exceed those minimums to ensure you have adequate coverage if you get into an accident or another vehicle incident.

Fortunately, GEICO offers a large selection of auto insurance coverage options.

Liability and protection insurance

Liability insurance covers your responsibility on the road if you cause an accident. GEICO offers the following types of liability coverage:

• Bodily injury liability: This liability insurance helps to pay for injury or death resulting from an accident where you’re at fault.
• Property damage liability: This coverage assists in paying for damage to someone else’s property after an at-fault accident.

GEICO also provides insurance that helps with medical treatment or bills, including:

• Medical payments coverage: Helps pay for the expenses of medical treatment you need after a car accident.
• Personal injury protection (PIP) coverage: May help pay for medical treatment, lost wages if you can’t work, or other accident-related costs, even if you are at fault.

GEICO also offers protection if you aren’t at fault for the accident, but the person at fault doesn’t have insurance, or doesn’t carry enough coverage.

• Uninsured motorist coverage: Could help pay for injuries or damages if you are in an accident with a driver who doesn’t have insurance.
• Underinsured motorist coverage: May protect you from at-fault drivers who don’t have sufficient insurance coverage to pay your claim. This coverage is often bundled with uninsured motorist coverage.

Vehicle coverage

Whether or not you need full coverage due to financing or leasing a car, it’s a good idea to have adequate coverage to protect your financial investment. I suggest looking at your full coverage options in addition to carrying adequate liability insurance. Here’s what GEICO offers:

• Collision coverage: Collision insurance helps to pay for damage to your car caused by another vehicle or an object.
• Comprehensive coverage: This coverage assists in paying for damage to your vehicle due to theft, vandalism, flood, fire, or other covered losses. Comprehensive insurance often covers situations not covered by collision insurance.

Coverage for emergencies

I always like to think of the worst-case scenario and have adequate coverage for those situations. Fortunately, GEICO offers options including:

• Emergency road service coverage: This coverage helps with the cost of towing service to the nearest repair facility. It also covers battery jump starts, gas delivery, tire changes, lockout services, and even winching your car out of a ditch in some circumstances.
• Mechanical breakdown insurance: Assists in paying for repairing your vehicle if it breaks down or needs repairs due to mechanical problems. This coverage is only available for new or leased cars under 15 months old with less than 15,000 miles.
• Rental reimbursement: This optional coverage helps you pay for a rental while your car is repaired during a covered claim. It does not cover the cost of gas, mileage, or any security deposits required by the rental car company.

Auto coverage limitations

GEICO’s car insurance is available in all 50 states, but each state has different laws and requirements that may affect coverage.

The GEICO car insurance website offers an easy way to see your state requirements, but if you have specific questions related to your insurance needs, I suggest speaking with an agent directly.

Although GEICO offers liability, collision, and comprehensive coverage, it does not offer gap insurance. This coverage helps pay the difference between your car’s actual value and what you still owe to a lender after an accident that totaled your car.

Other insurance products from GEICO

GEICO offers discounts for bundling your auto insurance with other policies, including the following:

• Homeowners insurance
• Renters insurance
• Condo insurance
• Mobile home insurance
• Motorcycle insurance

In addition to these insurance products, GEICO also offers:

• Insurance policies for all-terrain vehicles (ATVs), recreational vehicles (RVs), boats, watercraft, snowmobiles, collector cars, and commercial vehicles
• Flood insurance
• Life insurance
• Overseas and travel insurance
• Business insurance
• Identity protection insurance
• Pet insurance
• Jewelry insurance
• Medical malpractice coverage
• Umbrella coverage

How cheap is it?

GEICO states that they save drivers $700+ per year when they switch to GEICO. Of course, there are many factors that affect car insurance rates, including your driving history, credit score, location, and even your age and gender. One way to help lower auto insurance rates is by taking advantage of the discounts a company offers to its customers.

GEICO discounts

GEICO offers multiple types of discounts each offering different savings. I suggest determining how many of the discounts you qualify for to keep your rates low.

GEICO’s discounts include:

• Airbag discount: You may save as much as 23% on the medical payments or personal injury portion of your policy if you drive a vehicle with working airbags.
• Anti-lock brakes discount: Factory-installed anti-lock brakes might save you 5% on your car insurance.
• Anti-theft system discount: A built-in anti-theft system may offer up to 23% savings on your comprehensive premium.
• Discount for daytime running lights: These lights turn on automatically when you start the engine. Having them in your car may save you around 3% on your insurance cost.
• New vehicle discount: If your car is three years old or newer, you might save up to 15% on some of your car insurance coverages.

You may also qualify for discounts based on your driving habits, including:

• Good driver discount: If you have been accident-free for at least five years, you may get up to a 22% discount on some of your coverages.
• Discount for seat belt usage: If you and your passengers always buckle up, you might see additional savings on your insurance premium. The exact discount may vary, but it usually lowers your premium for medical payments coverage or personal injury protection.
• DriveEasy app: GEICO’s safe driving app monitors your driving behavior and may offer savings on your car insurance premium. The program works through the GEICO Mobile app and provides an individualized score based on whether you use your phone while driving, brake frequently, and other behaviors. Depending on your score, GEICO may offer you additional savings on your insurance.

GEICO rewards driving training and traditional education with more discounts, including:

• Defensive driving discount: Completing a defensive driving course, which offers instruction on defensive driving knowledge and safe driving techniques, may qualify you for a discount with GEICO.
• Driver's education course: GEICO may offer additional opportunities for savings if you have a young driver on your policy who completed a driver’s education course.
• Good student discount: Full-time students with good academic records might get up to a 15% discount on some of their coverages.

Being a part of the U.S. military, the federal government, or several other organizations may qualify you for further discounts:

• Military discount: Active duty, retired military service members, and members of the National Guard or Reserves might be eligible for a discount of up to 15%.
• Emergency deployment discount: If you or someone on your policy are part of an emergency deployment to an imminent danger zone, you might be eligible for savings of up to 25%.
• Federal employee discount: Current or retired federal government employees might qualify for a discount of up to 12% on their total auto insurance premium. This discount is available in most states and Washington D.C., but checking with your agent would confirm if you qualify.
• Membership and employee discount: If you belong to an alumni, educational, recreational, business, or professional organization, or if you work for one of Berkshire Hathaway’s companies, you may get a discount on your premium. Keep in mind that the federal employee discount can’t be combined with the membership discount.

Lastly, GEICO offers discounts to customers who prefer the company over other insurers in the market. These discounts include:

• Multi-vehicle discount: Having more than one vehicle insured with GEICO may earn you a discount of up to 25%.
• Multi-policy discount: If you purchase homeowners insurance, renters insurance, condo insurance, or mobile home coverage through GEICO, you might also receive an additional discount on your car insurance.

How to maximize savings

While you may qualify for some discounts with GEICO automatically based on your job or particular circumstances, there are other ways to save money on car insurance. Many people think the quoted price is set in stone but there are ways to lower your premium further:

• Installing additional safety and security devices: The safer your car is to drive or the lower risk it has for damage or theft, the lower the premiums GEICO may charge.
• Combining and consolidating different policies: Bundle your policies getting all your insurance coverage such as home or renter’s insurance.
• Opting for a higher deductible: Usually, the higher the deductible, or the amount you pay before insurance kicks in, the lower your insurance rates. Be sure you have enough to cover your deductible and other costs of an accident in your emergency fund or consider opening a savings account to cover your deductible specifically.

FAQs

Bottom line

GEICO is a reputable insurance company with multiple options and discounts. I always suggest getting quotes from at least three different insurance companies to determine which premium and coverage offers the best solution. I also suggest speaking to an insurance agent directly versus only relying on the information you find online to ensure you understand the fine print on the insurance policy.