Geico auto insurance review and ratings 2023

Geico is No. 2 in the 2023 Insure.com Best Insurance Companies survey for auto insurance with 4.1 stars out of 5. Most customers say they plan to renew their policies.

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Our take

Geico is the third-largest auto insurance company by market share in the U.S. and has been growing steadily over the years. The company is known for cheap auto insurance rates, and our rate analysis bears that out; Geico is cheaper than its top competitors. Geico also scored well for customer satisfaction, ease of service and renewals in Insure.com’s survey of insurance consumers.

Overall, Geico ranked No. 2 in Insure.com’s ranking of the Best Car Insurance Companies for 2023 with 4.1 stars out of 5.

However, Geico isn’t the best-rated company for claims service, and, although it offers an auto and home bundle with third parties, it doesn’t write home insurance directly.

Below is Insure.com’s review of the company. It’s based on third-party metrics and an in-depth survey of insurance customers. Find the full methodology here, including an explanation of our survey scores.

geico
Geico Ratings
Overall Rating: 4.1
Average Premium: 4.8
NAIC: 0.77
Customer Satisfaction: 4.2
AM Best Rating: A++

Pros and Cons

Pros:
  • Auto insurance rates are well below average
  • Rated high for ease of service
  • Highly-rated app
Cons:
  • More than 90% of customer plan to renew, but that percentage wasn’t as high as some competitors
  • Auto and home bundle is offered with third-party home insurance companies, not directly from Geico

How much Geico costs

Geico is known for low rates, and based on Insure.com’s analysis of 2022 average auto insurance rates, it lives up to that reputation. Geico’s rates are lower than the other companies that round out the top three biggest auto insurers in the nation, State Farm and Progressive.

Insurance company Monthly rate/premium
Geico $106
State Farm $120
Progressive $141

How Geico scores for customer satisfaction

Insure.com’s survey found that 85% of Geico customers are satisfied with the level of customer service they receive, although State Farm and a few other competitors had better ratings in this category.

Another customer satisfaction metric to consider is J.D. Power. The company doesn’t rate auto insurance companies on a national level for overall satisfaction, so we averaged out Geico’s rating across all regions to get an idea of how it ranks. Geico’s average score with J.D. Power is 835/1,000. That’s around the middle of the pack.

Insurance company Percent of customers satisfied with the company overall
Geico 85%
State Farm 91%
Allstate 84%

How Geico scores on ease of service

For ease of service, Geico again scores well. Eighty-seven percent of Geico customers are satisfied with the ease of getting the service they need. In our survey, Liberty Mutual won this category with 92%, while major competitor Progressive earned the same rating as Geico. Liberty Mutual, however, was omitted from our overall ranking because we were unable to obtain their pricing information – one of our key rating metrics.

Insurance company Percent of customers satisfied with the company’s ease of service
Geico 87%
Liberty Mutual 92%
Progressive 87%

How Geico scores on policy offerings

The company ratings in this category were very close. Eighty-four percent of Geico customers were satisfied or highly satisfied with Geico’s policy offerings.

Insurance company Percent of customers satisfied with the company’s policy offerings
Geico 84%
State Farm 87%
Farmers 85%

Would current customers recommend Geico to others?

Of the Geico customers in our survey, 90% would recommend the company to others. That’s not the top score but it beats out Allstate and others. Overall, Geico comes highly recommended in our survey.

Insurance company Percent of customers who would recommend their auto insurance company to others
Geico 90%
Erie and Travelers 96%
Allstate 86%

How trustworthy is Geico?

Seventy-six percent of customers surveyed said they believed Geico to be a trustworthy company. State Farm outranked Geico here, but other companies were rated lower.

Insurance company Percent of customers who say they trust their auto insurance company
Geico 76%
State Farm 84%
Progressive 73%

Do Geico customers plan to renew?

Of the Geico customers surveyed, 92% plan to renew with the company. That’s a good number, but some competitors got even better responses for customer loyalty, including Progressive and Nationwide, which both had 97% of customers planning to renew.

Insurance company Percent of customers who plan to renew with their auto insurance company
Geico 92%
Nationwide and Progressive 97%
Allstate 90%

How Geico scores on claims handling

Geico’s score for claims handling in the survey fell somewhere in the middle. The company’s survey score was well below Allstate’s but beat out Progressive, one of Geico’s biggest competitors in the auto insurance market.

Looking at an outside metric: Geico scored just above average on J.D. Power’s Auto Claims Satisfaction survey, earning 874/1,000. The average was 873.

Insurance company Survey score for claims handling
Geico 76%
Allstate 87%
Progressive 50%

How Geico scores on digital experience

Although Geico is well known as a company that focuses on mobile and online services, our survey didn’t find it among the top picks for digital experiences. Few insurers did well in this category, but Geico did better than many competitors.

The Geico app is highly rated both by Apple and Android users, with a 4.8 and 4.6-star rating out of 5, respectively.

Insurance company Survey score for digital experience
Geico 35%
Allstate State 34%
State Farm 17%

How Geico scores for discounts

Geico’s website offers a good list of available discounts, and the company ranked well with customers in that category. Geico landed not far behind State Farm, which topped this category, when rated by current customers.

Insurance company Survey score for discounts
Geico 75%
State Farm 77%
Progressive 76%

How Geico scores for bundling home and auto policies

Geico doesn’t write home insurance but offers bundling discounts through a partnership with other companies if you buy home insurance through the Geico Insurance Agency. The lack of direct home insurance may impact how Geico ranks in the survey for bundling since its bundling discount is the same as category winner Travelers.

Insurance company Discount for bundling home and auto Survey score for bundling home and auto
Geico 10% 25%
State Farm 16% 75%
Allstate 16% 63%

Geico car insurance coverages

  • Personal and commercial auto
  • Motorcycle
  • ATV
  • RV
  • Boat/PWC
  • Collector auto
  • Mexico auto

Geico additional insurance policies

  • Homeowners 
  • Renters 
  • Condo 
  • Mobile home 
  • Flood insurance
  • Landlord insurance
  • Business insurance, including BOP, worker’s compensation, medical malpractice, professional liability, general liability and cyber liability.
  • Life
  • Pet
  • Travel
  • Umbrella

Note: Not all policies are underwritten directly; some are offered through Geico Insurance Agency and underwritten by other companies.

Geico coverage options

  • Liability
  • Medical (PIP and MedPay)
  • Uninsured/Underinsured motorist
  • Comprehensive
  • Collision
  • Emergency road service
  • Rental reimbursement
  • Mechanical breakdown

Geico car insurance discounts

  • Air bag
  • Anti-lock brakes
  • Anti-theft system
  • Daytime running lights
  • New vehicle
  • Good driver
  • Seat belt use
  • Defensive driving course
  • Driver’s education course
  • Good student
  • Emergency deployment
  • Federal employee (Eagle)
  • Membership and employee
  • Military
  • Multi-vehicle
  • Multi-policy

States where Geico offers coverage

Graph
Table
States where Geico offers coverage
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
Washington D.C.
West Virginia
Wisconsin
Wyoming
AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY
Available
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Company background

geico

Government Employees Insurance Company, now known as Geico, was founded in 1936. Originally serving only government employees, today coverage is available to everyone. In 1996, Geico became a subsidiary of Berkshire Hathaway. The company has created two very memorable mascots, the Geico Caveman and the Geico Gecko.

Resources & Methodology

Methodology

Insure.com in the fall of 2022 surveyed more than 1,500 people with auto, home, life and health insurance (1,080 people with auto insurance). The survey was conducted by online market research company Slice MR. Respondents were asked to name their insurer and the editors then selected – based on the number of responses – the top companies for this year’s Best Auto Insurance Companies ranking. Insure.com needed 20 or more of a company’s customers to respond to the survey for that insurer to be included in the ranking, although in some categories the editors did consider companies with 18 or 19 responses.

Respondents were first asked to grade their insurer in the following categories – customer satisfaction, claims satisfaction and policy offerings. The percentage of respondents who said they were satisfied or very satisfied with their insurer is presented in the results.

Survey score calculation: Respondents were then asked to rank their insurer’s top three attributes out of more than a dozen presented – including customer satisfaction and policy offerings. For a number one choice, five points were given; for a second choice, three points; and for a third choice, a single point. The total points for each choice – first, second and third – were then divided by the number of each company’s customers who responded to that survey question to create a percentage. Those percentages are presented in the results as scores. 

Respondents were then asked if they would recommend their insurer to someone else. The percentage who said yes is presented in the results.

They also were given the statement “I trust my insurance company” and asked if they strongly agreed, agreed, disagreed or strongly disagreed with the statement. The percentage of those who said they agreed or strongly agreed is presented in the results.

The editors compiled the survey results and then collected National Association of Insurance Commissioners’ complaint data, which ranks a company by the number of customer complaints it receives, and AM Best data, which measures financial strength. 

They also collected insurance rate data from Quadrant Information Services (for auto and home insurance), Compulife (for life insurance) and the public health marketplace (for health insurance).

With the help of Prof. David Marlett, Ph.D., managing director of the Brantley Risk and Insurance Center at Appalachian State University, the editors created a rating system to determine which insurance companies were best in each sector. For auto and home insurers, we used the following weights to calculate the overall score for each company: 

  • AM Best: 25% of total score
  • NAIC: 15% of total score
  • Annual premium: 20% of total score
  • Survey: 40% of total score (10% customer satisfaction, 10% recommended and 10% renewal rate, 10% claims handling)

In our rankings, no company received less than 1 star and no company received more than 5.

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