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GEICO Insurance: Compare Ratings, Rates, Discounts & Coverages

Insurance companies aren’t known for being fun, exactly. But that’s not true of the Government Employees Insurance Company, better known as GEICO. GEICO is known as much for its entertaining commercials, featuring the golden gecko with a Cockney accent, as it for its low-priced insurance offerings. And GEICO’s insurance offerings are impressive. The company, which is based in Chevy Chase, Maryland, is the second largest auto insurer in the United States, after State Farm. In 2017, GEICO provided coverage for more than 24 million motor vehicles owned by more than 15 million policyholders. GEICO writes private passenger automobile insurance in all 50 U.S. states and Washington, D.C. GEICO sells its policies through local agents, called GEICO Field Representatives, over the phone directly to the consumer, and through their website.

While you can purchase homeowners and renters insurance through GEICO, these policies are actually sold through other licensed insurance companies. The policies are managed by GEICO, and you're still eligible for multi-policy discounts if you purchase your car and homeowners insurance through GEICO.

How much does GEICO car insurance cost?

Car insurance rates can vary based on a number of factors including your age, marital status, credit score, where you live and the company you choose. In the graph below, you can see the average cost of GEICO car insurance compared to the national average cost of car insurance. The graph is split into four categories: teen driver, single adult, married couple and senior driver.

The average GEICO car insurance rates for all driver profiles are all lower than the national average cost of car insurance. Please note that these are average car insurance rates based on specific profiles and your rate could be higher or lower based on your unique characteristics that affect car insurance rates.

Average GEICO car insurance rates

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What discounts does GEICO offer?

GEICO is known for being affordable, but the company prides itself on not being cheap. What’s the difference? GEICO says it is able to provide customers with top-of-the-line insurance at a reasonable price. To do this, GEICO offers a variety of discounts.

Car insurance discounts from GEICO

  • Air Bag: GEICO customers can can save 25 percent if they have a driver-side airbag or 40 percent if they have full-front seat airbags.
  • Anti-Lock Brake System: GEICO customers can receive a 5 percent discount for having a vehicle equipped with an anti-lock brake system.
  • Anti-Theft System: GEICO customers who drive a vehicle with an anti-theft system could earn a discount of up to 25 percent.
  • Daytime Running Lights: GEICO customers whose vehicles have daytime running lights are eligible for a 1 percent discount.
  • Five-Year Accident-Free Good Driver Discount: GEICO customers can receive a discount of up to 26 percent for having a clean driving record.
  • Seat Belt Use: If everyone in your car always wears their seatbelts, GEICO will reward you with a discount of up to 15 percent off of the medical payments or personal injury protection portion of your premium.
  • Defensive Driving: GEICO customers who complete a defensive driving course could save on their insurance premiums. Driver’s Education: Young drivers who complete a driver’s education course are eligible for a discount from GEICO.
  • Good Student: Full-time students with a B average or better are eligible for a discount of up to 15 percent from GEICO. Emergency Deployment: GEICO offers discounts up to 25 percent to deployed members of the Enduring Freedom or Iraqi Freedom operational forces, or those deployed to other imminent-danger zones.
  • Military: GEICO customers who are active duty military, retired from the military or a member of the National Guard or Reserves may be eligible for a discount of up to 15 percent on auto insurance. See other companies with military car insurance discounts.
  • Federal Employee (Eagle Discount): Active or retired federal employees could qualify for GEICO’s Eagle Discount of up to 8 percent off auto insurance.
  • Multi-Car Discount: GEICO customers who insure more than one car with GEICO could earn a discount of up to 25 percent.
  • Multi-Policy/Multi-Line: Customers who insure their car through GEICO while also having home, renters, condo or mobile home insurance through GEICO could save money.

Homeowners insurance discounts from GEICO

  • Smoke Alarms/Fire Extinguishers: GEICO customers who own fire safety equipment could save on their homeowners insurance.
  • Home Security Systems: GEICO customers who have burglar alarms installed could save money on their homeowners insurance.
  • Multi-Policy Discounts: GEICO customers who insure both their home and their car with GEICO could save money.

GEICO's DriveEasy program

In late July 2019, GEICO joined many of the other large car insurance companies by introducing a telematics program. GEICO's version, called DriveEasy, is still in the testing stage with certain drivers in select states. You can learn more about what DriveEasy monitors in this GEICO DriveEasy review.

What coverages does GEICO offer?

GEICO offers a couple add-ons that you can consider adding to your car insurance policy.

Roadside Assistance: GEICO offers 24/7 emergency road service coverage that you can add to your GEICO car insurance policy. This coverage includes assistance with jump starts, changing a flat tire, towing (non-accident related), and more.

Accident Forgiveness: Are you worried your rates are going to skyrocket in the event you’re in an accident? GEICO offers accident forgiveness to policyholders either once you’ve qualified for free or as an additional purchase for your policy. There are some qualifications you must meet in order to buy accident forgiveness, but once you have it, any rate increase after your first accident will be wiped out. Note: GEICO’s accident forgiveness isn’t available in California, Connecticut or Massachusetts.

Below are a list of additional specialty coverages offered by GEICO, many of which are sold through other licensed insurance companies.

GEICO FAQs

What does GEICO stand for?

While most people simply refer to the company as GEICO, GEICO stands for Government Employees Insurance Company. It was originally called Government Employees Insurance Company because it was targeted to federal employees and certain categories of enlisted military officers. GEICO was founded in 1936 by Leo and Lillian Goodwin in the Great Depression.

Did you know that the GEICO Gecko didn't make its debut until 1999? It was such a popular ad campaign that the Gecko is still the face of the company two decades later.

Is GEICO just car insurance?

GEICO’s largest insurance product is car insurance and insurance for other vehicles. It does offer other products including personal property and business insurance. However, GEICO acts as an insurance agency for home and renters insurance and sells products through other licensed insurance companies through the GEICO Agency. The policies are managed by GEICO and you can still qualify for a multi-policy discount is you purchase home or renters insurance from GEICO along with GEICO car insurance.

Is GEICO an A rated company?

GEICO earned an A++ rating from A.M. Best, which is considered superior.

Does Warren Buffett own GEICO?

GEICO is a wholly-owned subsidiary of Berkshire Hathaway, which is led by Warren Buffett. GEICO has been owned by Berkshire Hathaway since 1996.

Does GEICO use credit?

In states where it is allowed, GEICO does look at a credit-based insurance score to determine your car insurance rate. Insurance-related inquiries don’t count negatively against your credit score. Your credit is just one of the many factors that determine your GEICO car insurance rates along with your driving history, the type of car you drive and many others. Your credit history can legally be used to determine your car insurance premium in all states except California, Hawaii and Massachusetts.

More about GEICO insurance

GEICO’s website is a great place to learn more about the company’s offerings, make a payment, submit a claim or request support.

GEICO’s mobile app also allows you direct access to everything GEICO has to offer. With GEICO mobile, users can chat with trained agents, access digital ID cards, request roadside assistance, receive vehicle care and more.

Prime Time Contract is a GEICO program for drivers over the age of 50, offering automatic renewal on a GEICO policy. Drivers must be at least 50 years old, have no operators under the age of 25, no violations or accidents in the past three years and can’t be using their vehicle for business purposes. It’s not available in all states.

Compare GEICO with other carriers

You can compare GEICO's features side by side with Progressive and other carriers. The most common request is to compare GEICO vs. Progressive

What states does GEICO do business in?

GEICO sells car, homeowners, renters and motorcycle insurance in 50 states and Washington, D.C.. See the state GEICO sells in below and click the link to see how GEICO compares to the other top companies in that state.

Gecko Banner, Geico - More than just car insurance.