Table of Contents
The GEICO insurance company offers its customers satisfactory prices, positive customer service and a very good experience to the user who takes out any insurance. Its auto insurance rates are relatively low and it provides up-to-date online solutions for customers to manage their insurance policy.
- 1 GEICO Insurance
- 2 Is GEICO a good insurance?
- 3 GEICO Auto Insurance
- 4 What are the benefits of the GEICO vehicle policy?
- 5 What does the GEICO car insurance policy cover?
- 6 Discounts for car insurance
- 6.1 Discount for being a federal employee
- 6.2 Military discount
- 6.3 Discount for clean driving record
- 6.4 Defensive driving discount
- 6.5 Discount for students
- 6.6 Discount for cash payment
- 6.7 Discount for employees and members
- 6.8 Multiple car insurance discount
- 6.9 Discount for having several policies
- 6.10 Discount for having vehicle equipment
- 7 Home insurance
- 8 Other GEICO Property and Liability Coverages
GEICO normally provides low rates and offers very good customer service. When it comes to offers and discounts, the company is much like any of the big insurance companies, such as Allfarm or Allstate. Nonetheless, GEICO stands out for offering some of the best virtual tools on the market.
Thanks to its mobile application, owners will not only be able to pay, but also access a series of services and benefits, such as virtual ID, manage maintenance appointments and even access damage estimates in a matter of minutes. Certainly other insurers offer similar services, but GEICO is constantly improving its capabilities.
A clear disadvantage is that GEICO has very few physical offices compared to other companies of its size. If, for example, we compare its 150 offices in the country with the 18,000 agents that State Farm has in the United States, the difference can be clearly seen. Consequently, if you are one of the people who prefer to carry out their procedures in person, this institution is not the one for you.
GEICO car insurance
GEICO home insurance
GEICO does not have underwriters nor does it offer its own services to its insurance policies, but rather connects you with one of its allied insurers. For that reason, prices, coverage options and service levels depend on an external company to which they will connect you. For this reason, this type of policy is only recommended to obtain discounts for multiple auto and home policies.
GEICO virtual tools
GEICO is one of the companies that leads the market in virtual tools. Through this system, holders can buy and manage the terms of their policy without having to go to an insurance agent. Their tools are very easy to use and it is a great benefit to use their services.
- GEICO mobile application : Through this app, you can access ID cards, enter claims, request quotes, pay your bills and basically manage any aspect related to insurance. You will also have the option to chat with the virtual assistant Kate and ask all the questions you require.
- Express GEICO Services : This is an online service that does not even require registration. Through this system, as a policy holder, you can obtain your insurance IDs, access policy documents and even make quick payments.
According to the NAIC, the complaints index has a value of 0.92, which indicates that it is quite good (less than 1). On the other hand, JD Power ensures that the satisfaction of complaints is average, while AM Best indicates that its financial strength is classified as “A ++” or above average, which shows that GEICO has the capacity to pay for claims that are made.
|GEICO insurance ratings|
|AM Best||Financial strength||A ++ (greater than average)|
|JD Power||Customer satisfaction||3/5 (Average)|
What do clients say about GEICO insurance?
Most of the negative comments that were directed at the services offered by GEICO focus mostly on the high prices that drivers with a blemish on their driving record must pay. In this sense, what the quotes indicate is confirmed: GEICO is more expensive for high-risk drivers or those who have recently had accidents.
Is GEICO a good insurance?
The auto insurance Geico obtained 5 stars out of 5 for its overall performance. The scoring formula takes into account a number of details including pricing, discounts, and ease of filing a claim. Other factors discussed include website transparency, financial strength, and complaint data from the National Association of Insurance Commissioners.
GEICO auto insurance
GEICO car insurance is quite competitive, serving their clientele the best they can, and striving to provide different coverage options for many of their drivers.
A not so positive point is that young drivers very easily fall into the high risk category, especially if there are accidents in their records, so it is possible that the rates for GEICO car insurance will increase.
However, its customer service is available 24 hours a day and 7 days a week, either by phone or through its mobile application. In this way, the user can manage -almost- all the parameters of his policy at any place and at any time.
Price of the GEICO car insurance policy
The insurance prices have been quite good when comparing the averages with its competitors. Drivers who have no traffic accidents or violations of any kind on their record will be able to get rates up to 19% lower than average.
On the other hand, high-risk drivers tend to pay quite high prices. According to GEICO quotes, the profiles that had a lack in the last 5 years pay around 13% more than in other insurances with the same characteristics. This is considerably high for new drivers, as they must fork out about $ 3,000 more annually.
As can be seen, GEICO insurance prices tend to be more convenient when it comes to seniors or families. However, when it comes to young people – especially those with accidents – there are many other options on the market that may be more convenient.
What are the benefits of the GEICO vehicle policy?
Generally speaking, GEICO’s solutions are quite similar to what you will get at the other big auto insurers, like State Farm or Progressive. The only notable difference is that they offer an excellent service through their mobile application and an interesting proposal for stately drivers called Prime Time Contract.
GEICO Insurance Mobile App
The GEICO mobile app allows drivers to manage all aspects of their auto insurance. Some of them are:
- Virtual identification. In the mobile app you will find all the identification documents, regardless of whether you are connected to the internet or not. In addition, you can add your identification cards to your Wallet if you are an Apple user.
- Roadside assistance. The GEICO mobile app also allows you to request assistance in less than two minutes. Thanks to this, you can request a tow truck or emergency assistance at any time, including holidays.
- Obtain damage estimates. Through this system, you can send photos of the damage your vehicle has received and obtain price estimates in about 20 minutes. In addition, you will not have to schedule appointments with the workshop, since the system takes care of you.
- Virtual assistant. If you have questions about your policy, payments or billing, you can communicate through the system and you will have a GEICO virtual assistant wherever you are and when you want.
- Manage maintenance. If you think your vehicle has a problem, the system can schedule an appointment for you, provide valuable information, and much more.
This does not mean that the application is the only means by which you can contact the insurance agency. GEICO also places its website, its telephone number and its email inbox at your disposal. However, the application and the website are the means of contact in which they focus the most.
Auto Repair Xpress
The GEICO insurance company provides you with its own network of auto garages and workshops. When you decide to have your vehicle repaired at one of these facilities, GEICO will back your warranty for as long as you own the car. Although this is not a service exclusively offered by GEICO, it is a good feature to consider.
Car Buying Service
GEICO car policies will help you find a new car for a better deal. Through this service, the insurance company will recommend dealerships near you and you can see how much money other people have paid for specific cars. In this sense, you will be able to compare the prices of different cars that do not even have GEICO insurance.
Prime Time Contract
GEICO Insurance Company offers customers over 50 its guaranteed auto insurance policy renewal program. Through the Prime Time Agreement, customers will always have the option to renew their policy – as long as they remain a GEICO policy holder.
In other words, drivers who accept this program will be protected from situations in which the insurer does not want to offer them a policy renewal, for example when a driver is considered high risk for having many violations of traffic laws.
To qualify for this program, certain requirements must be met :
- Not having drivers under the age of 25 on the policy
- Vehicles on the policy must not be used in any commercial way
- The holder must have a clean driving record for the past 3 years
Unlike other insurers, which offer fixed-term policies to established clients, GEICO offers this type of policy even to new clients, which makes this institution quite different.
What does the GEICO car insurance policy cover?
Most of the coverage options GEICO offers are aligned with the availability of other auto insurance companies. However, these may vary according to the state in which the owner or the vehicle (and its type) is located.
Mechanical damage insurance (MBI)
This coverage pays for the repair of mechanical components, such as the engine, air conditioning or transmission, as long as they are less than 15 months old or have traveled less than 15,000 miles. Please note that this does not cover diagnostic fees if your vehicle does not have mechanical faults.
To access this benefit, you will have to pay a deductible of $ 250 for each indistinct repair. That is, if both the air conditioning and the engine need repair, you will have to pay two deductibles. One aspect to consider is that you can also cover old cars with insurance.
The fact that this concept is within the policy is quite positive. Many insurances will try to offer this as an extension of the policy or sell you a new policy separately. However, GEICO’s “hybrid” policy offers a combination of both in a single contract. This will allow you to be covered when you are on the road for pleasure or working on mobile applications such as Uber or Lyft.
Emergency road services
This service cannot be lacking in any insurance policy. In fact, it is quite similar to what all companies offer when it comes to coverage and limits. The idea is that if you have an accident on the road, have a backup that can help you. Among the many things they can help you with, we can highlight:
- Tire or wheel changes
- Towing service (as long as it is not an accident)
- Locksmith service
- Assistance in case you don’t start the car
The truth is, it looks a lot like AAA Plus roadside assistance, except that GEICO has lower rates – not counting the discounts and rewards AAA members receive.
Thanks to accident forgiveness, the company will not increase your rates for your first car accident. In other programs, this benefit is typically purchased or earned, creating a difference between the GEICO program and others.
Some drivers – with good driving records – may have access to the accident forgiveness purchase. To win it, your driving record must qualify and be unclean for five years in a row or more. Note that this concept is not available in the states of Massachusetts, Connecticut and California.
You may also be able to add this coverage if you need comprehensive glass repairs. Of course, this may cost a little more but it will benefit you when you need to repair or change your windshield, since it will be free.
An important aspect to consider is the auto lease. If your car cannot be driven for more than 24 hours because it is in the shop or for any other reason, the insurance will cover the rental of another car while it is returned to you.
However, you should consider that the amount that you will be paid is based on a daily limit and per claim, which is selected when choosing this optional coverage. For example, you can access coverage of $ 45 per day and $ 1,350 per claim.
Discounts for car insurance
GEICO offers standard discounts across the industry and most are related to safe driving habits and equipment. GEICO will also give discounts to holders who are members of some organizations and to those who insure multiple vehicles on the same policy.
Discount for being a federal employee
Federal employees can qualify for a discount of up to 8% on their auto insurance policy, whether active or retired. This discount is better known under the name of “Eagle”.
People who are or have been in the US military can save up to 15% on their premiums. More specifically, the company highlights active personnel from the US military, retired members of the US military, and members of the US National Guard and Reserve.
Clean driving record discount
If you have not had an accident with your car in the last 5 years, GEICO will allow you to reduce the premium by up to 26%. As we said above, this will also make you eligible for accident forgiveness, which will save you money if you do get into an accident.
IMPORTANT: You can also receive a 15% discount on your premiums for medical or personal injury protection if all passengers who get into the car always wear their seat belts.
Defensive driving discount
Upon successful completion of a defensive driving course, GEICO will grant you a discount on your auto insurance. The amount that they will deduct will depend to a large extent on the state in which you are, but normally it varies between 5% and 20% of the applicable coverage.
NOTE: The five states where GEICO does not apply the defensive driving discount are Hawaii, Vermont, Michigan, Massachusetts, and North Carolina.
Discount for students
Students with an average grade of “B” can save up to 15% on their premiums in certain states and could also get a discount for completing a driving course. To qualify, these drivers must be between the ages of 16 and 24.
Cash payment discount
By paying the premium in cash, you can save money from the expenses that GEICO makes to collect monthly. The important thing is that it be a single payment before starting the year covered by the contract.
Discount for employees and members
If you are an employee or member of GEICO or one of its allied organizations, you may be eligible to receive a discount from the institution. So far, agreements are maintained with more than 500 schools and universities, professional organizations and other institutions included in these groups.
Multiple car insurance discount
GEICO discounts up to 25% on the premium amount if you insure more than one car on the same policy. This is one of the ways in which the company demonstrates more loyalty to its clientele and vice versa.
Discount for having multiple policies
If you don’t have multiple cars, but you do have multiple possessions insured with GEICO, you can receive a discount from the company. Some of the most common policies are home, rental, condo, or mobile home insurance.
Discount for having vehicle equipment
The safety of its holders is important to GEICO. For this reason, the company offers a series of discounts to people who have the necessary implements to respond to emergency situations in the event of an accident. Some of the teams are as follows:
- Airbags : you can save on the premium for medical payments or personal protection up to a 25% discount if you have airbags in the driver’s seat and up to 40% if they are in force in the front seats of the car.
- Anti-lock brakes : collision coverage can be reduced by up to 5% if the car has anti-lock brakes.
- Anti-theft system : this is one of the most important savings, since they can deduct up to 25% from the comprehensive policy if the car has an anti-theft system installed.
- Daylights : Although this only offers a 1% discount and it seems not to be very important, it helps reduce costs when added to a series of measures.
However, there are benefits to doing this. When choosing homeowners insurance with GEICO, you may be offered a multi-policy discount (also called a bundle). Although GEICO will not provide an estimate of the final amount, you will most likely save a little if you bundle both policies. Generally, this tends to be the highest discount that home insurance companies offer.
In this sense, we will only recommend that you take a look at the GEICO home insurance policy if you already have another type of insurance with them, such as car or motorcycle insurance, or if you are considering changing companies. In that case, the possibility of this discount may be something you study carefully.
Otherwise, we do not recommend home insurance policies with GEICO, since you will not be able to choose which of the 31 partner companies will be assigned to you. Remember that each one will have its own rate, coverage options, discounts and many other elements. This will put you in a position that will not let you know which company insures you until after you have acquired and signed the contract.
NOTE: The consideration specified above is especially important if your home insurance requires specific guarantees such as hurricane coverage or water protection.
What does GEICO home insurance cover?
Considering that GEICO member companies offer their own coverage concepts, rates and discounts vary greatly depending on the insurance company that provides the services. However, there are a series of standard coverages that they cover, which we detail below:
- Protection of your property : This will protect your home in case of damage or loss if it suffers an incident that is covered by the policy.
- Protection of your belongings : Covers the damage, theft or destruction of your personal items, such as furniture, clothing, kitchen, refrigerator or others.
- Loss of use : They provide reimbursements for the expenses you make in the event that you cannot sleep at home as a result of an incident covered by the policy. Some of these may be the hotel, food and transportation these days.
- Medical expenses : If someone is injured on your property, the insurance will cover the expenses related to this incident.
- Liability : You will have financial protection if a person is injured or property is damaged and you are sued for allegedly being your responsibility.
GEICO home insurance discounts
Since GEICO does not offer home insurance, they can only offer one type of discount: discount – multiple insurance policies. This means that if you buy home or car insurance, or motorcycle and home insurance for example, you can save money on both.
How much does GEICO home coverage cost?
The homeowners policy is not a service provided or endorsed by GEICO, but will connect you with one of its 31 allies. They all have different prices and coverage. However, in our research we found that the annual policy for a home can vary by more than $ 2,000 depending on the insurance company they offer you. Here are our results:
Important: It is recommended that you compare the prices offered in your states to ensure that you are accepting a good deal.
As can be seen, prices vary between $ 1,238 and $ 3,041, resulting in an average amount of $ 1,803 to cover $ 200,000. For $ 250,000 coverage, prices range from $ 1,499 to $ 3,577, averaging $ 2,078. And finally, prices range from $ 1,854 to $ 4,128 to provide coverage of $ 300,000, which is equivalent to $ 2,274 on average.
NOTE: These quotes were taken based on a home located in Austin, Texas.
Other GEICO Property and Liability Coverages
People who require coverage beyond cars and homes can turn to GEICO to get them. GEICO insurance policies can also cover other valuables such as motorcycles, ATVs, jewelry, mobile homes, and condos. Besides, they can also cover in cases of special incidents like umbrella and flood protection.
GEICO motorcycle insurance
GEICO motorcycle insurance quotes and good discounts help make it one of the best in terms of affordable motorcycle insurance. Typically, qualifying for your policy discounts is extremely easy, attracting a large number of customers and saving them money.
For example, switching from another motorcycle insurance policy already guarantees you a 10% discount on the annual premium. However, there are many other reasons to get a better price. Here are some of them :
- Policy with multiple motorcycles : They will discount up to 10% if you have several motorcycles insured with GEICO.
- Multiple insurance policies : If you have several auto or home policies with GEICO and motorcycle insurance, you will be able to access this type of discount. For example, if you have a car and motorcycle policy, or a home and motorcycle policy).
- Mature motorcyclists : After a certain age, usually 65, GEICO can give you up to a 10% discount. However, both the age and the amount to save depend on the state in which you live and your profile.
- Safety first : If you have passed a military safety course or the Safe Motorcycling Foundation, you will be guaranteed up to a 10% discount.
- Loyalty : If you renew your GEICO insurance policy, you can enjoy up to 10% discount on the motorcycle policy.
Doing a little research on GEICO motorcycle insurance, we were able to find that they are affordable and even much cheaper compared to other companies that offer the same service. For example, in Florida, their quotes were consistently lower than those of some competitors like Dairyland, Progressive and Markel.
NOTE: When GEICO refers to motorcycle insurance, they also include Scooters and other two-wheelers.
GEICO ATV (all-terrain vehicles) insurance
Unlike scooters, the ATV GEICO policy is a separate product. In this sense, holders have access to a wide range of coverage options and discounts when compared to other insurances. Within the list of aspects they cover, we can find :
- Collision coverage
- Liability for property damage
- Bodily injury liability coverage
- Comprehensive coverage for physical damage
- Medical expenses
- Coverage for uninsured motorists or with low insurances.
In addition to offering all these coverage benefits, the ATV insurance policy offers four different types of discounts, which are very similar to all your other vehicle policies. In general, we consider that they are quite good, because they apply to a large number of headlines.
Insurance discounts for ATV GEICO
- Discount for multiple vehicles
- For Possession of anti-theft devices
- For multiple insurance policies
- For mature drivers
GEICO Mobile Home Insurance
At the same happens with home insurance policies, the insurance carriers of mobile homes GEICO are offered based on connecting with other partner companies. Their alliances will allow GEICO policyholders to access coverages and a number of additional options, including property damage, personal liability and adjacent structure coverage.
- Personal Property Coverage : This will cover the full value of your personal belongings up to the coverage limit, including possessions such as furniture and television sets.
- Personal liability coverage : You can have a backup if someone suffers an accident on your property and you are possible responsible or if you cause damage to the property of another person.
- Protection of adjacent structures : Covers losses to adjacent structures that you own, such as yards and possessions that are outside the house.
GEICO Condos and Co-ops Insurance
People who own a condo or share co-ops can protect the interior structure of their home and personal belongings. This insurance allows the holder to customize coverage for personal possessions between $ 20,000 and $ 100,000 and structure coverage up to $ 200,000.
Condo owners will also be able to take advantage of discounts offered to most homeowners, such as price reductions for having security alarms or locks.
In which cases does GEICO condos insurance cover?
- Fire or lightning
- Wind storms
- Smoke damage
- Accidental water discharge
GEICO flood insurance
If you live in a flood hazard area, you may want to seek insurance to protect your home – even if it is not required. For many people, a home is the biggest investment they make and they want to protect it against all potential dangers. GEICO’s flood insurance is aligned with the standards established by the National Flood Insurance Program.
If you want the insurance limits for your home and its contents to be greater than $ 250,000 and $ 100,000 -respectively-, you could opt for private flood insurance. Just remember that GEICO flood insurance, like many other policies, requires a 30-day waiting period from the time you purchase coverage to become effective.
Umbrella GEICO Insurance
The insurance policies Umbrella are designed to complement existing insurance policies cars or homes. This is with the intention of providing a coverage limit with a substantially higher limit.
For example, if you are liable for damage to someone else’s property from a collision with a car, but your auto insurance only covers $ 100,000, umbrella insurance could cover the remaining $ 400,000 that you would have to pay out of pocket.
In order to qualify for GEICO umbrella insurance, you will need to have a GEICO vehicle policy and homeowners insurance with any other insurer. The good part is that GEICO’s requirements are aligned with those of its competitors.
What does GEICO umbrella insurance cover?
- Injuries to third parties – in case of being responsible.
- Damage to the property of third parties.
- Damages and injuries caused by tenants, if you are a landlord.
- Defamation or slander cases
Who does umbrella insurance cover?
- You and your formal partner
- Relatives or dependents who live with you
- Friends or relatives to whom you have lent the car
GEICO jewelry insurance
GEICO jewelry insurance provides comprehensive coverage, which means you will be held liable in the event of loss, theft, damage, or disappearance. Although many insurance companies offer jewelry insurance within their renters or home policies, GEICO offers it as a separate product.
One of the benefits of doing it this way is that you can determine your own deductible. Certainly, prices vary widely depending on where you live, but most people indicate that insurance costs between 1% and 2% of the total value of insured jewelry.
On the other hand, GEICO offers the coverage service for preventive repairs, so that if a gemstone comes loose from a gold ring, you could take it to a jewelry store to have it repaired and the company covers the cost.