GEICO Insurance Reviews 2023
- Last Updated on February 16, 2023
A Step-by-Step Guide
An Overview of GEICO Insurance Reviews and Ratings
You likely know GEICO by its friendly little mascot, the gecko named Martin, but this insurance company is a strong and growing presence in the U.S., with a market share of 13.6% as of 2020.
The company boasts more than 18 million auto policies and more than 30 million vehicles insured. GEICO is well known for its auto insurance, but it also offers many more forms of insurance policies. Plus, the company is a subsidiary of the well-known Berkshire Hathaway, which gives them industry credibility.
Fun fact: GEICO stands for Government Employees Insurance Company because the founder initially targeted U.S. government employees and military personnel as the company’s customer base.
So, what should you know about the insurance provider, including GEICO ratings and reviews from customers? Keep reading for a deep dive into one of the fastest-growing insurance providers in the U.S.
Types of GEICO Insurance Policies
Most people associate the GEICO name with auto insurance, but the company actually covers several forms of insurance policies. These include:
- Classic car
Some of the more unique and interesting forms of insurance GEICO offers include jewelry, overseas, pet, bicycle, event, and identity protection.
However, it’s worthwhile to note that GEICO doesn’t directly write its home and life insurance policies, and instead offers them through partner companies. If you are interested in GEICO home and life insurance, you’ll want to know that they do offer term, whole and universal life insurance through their affiliate partners but backed by GEICO Insurance Agency, LLC. They also offer life insurance with no medical exam, if that’s important to you.
You may also be able to snag a bundling discount by adding a property insurance policy to your auto insurance, which could lower your overall insurance costs.
Insurance Policies Not Offered By GEICO
When considering GEICO for your insurance needs, it’s important to know the policy types that the company doesn’t include, such as:
- Gap insurance
- New car replacement
- Better car replacement
- Original parts replacement
If any of these are important policy types or add-ons for your insurance needs, you may want to consider another insurance provider.
You’ll also want to note that the company offers limited add-on protections. These include:
- Emergency roadside service
- Rental reimbursement
- Mechanical breakdown insurance
Many policyholders enjoy customizing their auto insurance policies with optional add-ons, so the limited options could be disappointing to some customers.
Average Cost of GEICO Insurance
Insurance rates can vary widely depending on a number of factors including age, state, vehicle make and model, driving history, and more, but we crunched the numbers to get you some ballpark numbers.
With GEICO, a 40-year-old driver with a good driving history can expect to pay $1,405 a year in car insurance for full coverage, shaving about $200 off the national average. Minimum car insurance coverage is just $66 per month, also less than the national average.
This makes GEICO one of the more affordable options for car insurance coverage.
GEICO Insurance Discounts
GEICO claims that customers get an average of $500 in annual savings, and with their long list of available insurance discounts, this doesn’t seem like a stretch. Some available discounts (depending on eligibility and state) include:
- Membership and employee discounts (for over 800 groups)
- Military and federal employee discounts
- Student discounts
- Multi-policy discounts
- Drivers aged 50 and over discount
- Defensive driving discount
- Vehicle equipment discounts (eg. airbag, new vehicle, etc.)
- Good driver discount
And there are even more. If you’re looking to save on insurance, GEICO could have great discounts for you depending on your eligibility.
GEICO Customer Reviews
GEICO boasts a 97% customer satisfaction rating according to a 2020 study by Alan Newman Research.
Here are some fast facts about customer reviews for GEICO insurance:
- GEICO often scores above average in the J.D. Power 2022 U.S. Auto Insurance Study across different regions
- It scores below average in Texas, and in the mid-Atlantic and Southeast areas
- GEICO lands above average in claims satisfaction
- GEICO has fewer complaints on average about its auto insurance than other insurance providers of the same size, according to the NAIC complaint index
- GEICO has an A+ rating from the Better Business Bureau and a 4.2 out of 5 rating from J.D. Power
- Almost 50% of customers said they were completely satisfied after contacting customer service
- Almost 51% of customers are completely satisfied with their claims handling
- 50% of GEICO customers say they’re very likely to renew their policy with GEICO
Customer reviews for GEICO insurance are overall high, which makes them a solid choice for insurance needs.
Filing a Claim with GEICO
Filing a claim is simple enough, and can be done via the following methods:
- Through the GEICO app
- On the GEICO website
- By calling their claims line
However, because home and life insurance are offered through affiliate partners, you’ll need to contact those partners for claims and assistance on your home and life policies.
Other Reasons to Consider GEICO Insurance
GEICO offers a number of unique insurance policy lines, but they’re also available in all states across the U.S., making them easily accessible.
Some of the other reasons customers choose GEICO insurance include:
GEICO offers 24/7/365 customer support, which is a nice touch. They also have a mobile app that lets you access your claim info, call for roadside assistance, and more at the touch of your fingertips.
The GEICO Mobile app has also been rated the #1 insurance app and their online shopping experience has also been highly rated, so if you’re a fan of using technology, GEICO could be a great option for your insurance needs.
GEICO Car Buying Service
This helps customers research a potential vehicle’s market value and receive assistance from Certified Dealers thanks to their partner, TrueCar. You’ll also receive guaranteed savings by purchasing from a TrueCar Certified Dealer. Plus, after your purchase, you’ll get access to the GEICO Vehicle Care app for recall information, service history, maintenance reminders, and more.
GEICO has won awards and recognition for its diversity efforts. They also track and display their employee diversity progress over the last few years, with 63.5% of 2021 new hires being women and a third of new hires identifying as Black or African American.
The GEICO Philanthropic Foundation has been in action for over 40 years, helping to support diverse communities nationwide. They’ve donated to over 7,000 charities and have averaged $6-8 million annually over the last 20 years.
Last Thoughts on GEICO Reviews
GEICO is one of the fastest-growing insurance providers in the U.S., and for good reason. The company consistently ranks high in ratings and reviews, with ease of claim submission and digital experience as some of its top assets.
GEICO is available in all states across the U.S., making it an accessible option for Americans. For tech-savvy customers that are looking for a budget-friendly option for their insurance needs, GEICO is a great choice, with many discount options and policy types.
But keep in mind that home and life insurance aren’t directly written by GEICO and the company offers limited add-on protections for policies. And with limited in-person support across the country, customers who aren’t as tech-savvy might have trouble with claims and customer service.
Want to see how GEICO quotes stack up? ConsumerCoverage gets you access to free quotes fast, so you can review your options and decide if GEICO makes the most sense for your insurance needs.