GEICO Insurance Review for 2020
Established in 1936, GEICO is the second most popular insurance provider in the US. GEICO offers a wide variety of insurance products, including auto and motorcycle coverage. While GEICO is generally understood to be a cheap car insurance provider, its low rates do not necessarily lead to poor service. Let’s explore the ins-and-outs of GEICO as an auto insurer in our 2020 review.
GEICO car insurance coverage options
GEICO offers all the standard car insurance coverage options: liability, property damage, collision, and comprehensive coverages. Let’s review some of GEICO's average rates as well as some of the more unique features of their auto insurance offering.
HOW MUCH DOES GEICO COST?
|Driver Profile||6-Month Rate||Monthly Rate|
|Good Credit (670-739)||$600||$100|
|Bad Credit (300-579)||$948||$158|
Emergency road service
If you have comprehensive coverage, you can add GEICO’s roadside assistance. With this coverage, you are able to get help for the following:
- Jumpstarts for dead batteries
- Labor to change a tire
- Lockout services
This optional coverage handles the costs if your vehicle is undrivable due to a covered claim. By insuring against only "covered claims," GEICO excludes normal wear-and-tear or mechanical issues. This will provide you with a rental car for a certain number of days based on your coverage.
Mechanical breakdown insurance
GEICO is one of the few car insurance companies offering mechanical breakdown insurance (MBI). MBI acts as an extended warranty, covering your vehicle in the event of myriad mechanical failures that are excluded from coverage on a standard car insurance policy. This excludes damage occurring in a car accident. MBI is subject to a deductible.
GEICO offers accident forgiveness as an optional policy add-on. With this coverage, your rate won’t increase after your first at-fault accident. GEICO’s accident forgiveness works on a per-policy basis, meaning only one use per policy period.
GEICO rideshare insurance
Below are other companies to which GEICO’s rideshare coverage applies:
- Amazon Flex
- Uber Eats
GEICO car insurance discounts and reward programs
GEICO offers many discounts for young and experienced drivers alike. Below are GEICO's top discounts.
Discounts based on your vehicle’s equipment
- Airbags: 25-40% savings
- Anti-lock brakes: 5%
- Anti-theft system: 25%
- Daytime running lights: 1%
26%. If you have a clean driving record for at least three years, you can earn this good driver discount.
15%. This discount applies to your medical coverage or personal injury coverage. If you and your passengers always wear your seatbelts, you can earn up to 15% off.
15%. If you or your student is aged 16 to 24 and has a GPA of 'B' or better, you can earn up to 15% off.
Driver’s education course
Varies. If you’re a young driver, completing a driver's ed course can earn you a discount on most policies.
Varies by state. If you’ve completed an approved defensive driving course, you can receive a discount on your insurance policy.
25%. If you’re in the military and are deployed, you can receive a discount that applies to your entire auto insurance policy.
Varies. Certain employers and memberships have relationships with GEICO which can earn you a discount. These can be based on occupation — such as police officers and firefighters — or alumni organizations.
15%. Active and retired military members can earn up to 15% off their insurance policy with GEICO.
Varies. Having more than one policy -- such as your auto policy and homeowners insurance -- with GEICO can earn you a bundling discount. Bundling is a great way to get lower insurance rates. GEICO offers a number of such options, including bundling home and auto, renters and auto, or condo and auto insurance policies. The benefits of bundling insurance also include added convenience. Bundling your home policy and auto insurance can simplify your monthly bills. Check with an insurance agent to see about having your insurance needs met by the same company.
25%. By insuring more than one vehicle with GEICO, you can earn up to 25% off your entire policy.
Federal employee discount
8%. If you’re an active or retired federal employee, you qualify for the eagle discount by GEICO. In order to qualify, you need to be a GS-7 or above. This is available in most states.
Varies. If you are over age 50, have been accident-free in the past three years, and have no drivers younger than 25 on your policy, you can qualify for this discount.
Varies. DriveEasy is GEICO's telematics program, which gives you a driving score based on your driving habits. Once the mobile app is downloaded on your smartphone, it detects and tracks your movements and evaluates your driving skills to help encourage you to be a better, safer, and more defensive driver. It could be a good option for teens and other young drivers in the family.
Additional lines of insurance
GEICO insurance review: is it right for you?
GEICO is one of the biggest car insurance companies in the US. It provides a multitude of lines of insurance — including home insurance, renters insurance, motorcycle insurance, and more — ideal for covering a variety of assets. GEICO makes available licensed agents to every customer and is generally rated highly by consumer reports. GEICO also provides all the basic coverage options including bodily injury, personal injury protection (PIP), and uninsured motorist coverage, along with rideshare coverage and mechanical reimbursement coverage.
The only aspect of GEICO car insurance we failed to cover is its price. While GEICO is generally considered a cheap insurer, it’s impossible to provide an upfront quote for every driver. Your premium will change based on dozens of your personal attributes.
The best option for finding affordable car insurance or the best homeowners policy is to shop with as many companies as possible — including GEICO. If you’re interested in getting insurance quotes from GEICO and other companies, enter your ZIP code below to get started.