Is GEICO the Best Choice for Your Car Insurance Needs? | GEICO Car Insurance Review

The History of GEICO Car Insurance

GEICO (Government Employees Insurance Company) is one of the largest auto insurance providers in the United States today. The company was founded in 1936 by Leo Goodwin Sr. and his wife Lillian to provide auto insurance directly to federal government employees and their families. At the time, most insurance companies did not want to take on the risk of insuring government employees, so the Goodwins saw a market opportunity. The company was originally located in San Antonio, Texas but later moved its headquarters to Chevy Chase, Maryland.

GEICO made its name by focusing on direct sales to consumers instead of using insurance agents. This allowed them to save money on agent commissions and offer lower premiums. In the 1970s, GEICO began using humor and clever advertising to promote its brand. The company mascot, a gecko with a British accent, became a pop culture icon after debuting in GEICO ads in 1999.

GEICO's Claim to Low Cost Car Insurance

Over the years, GEICO has made "15 minutes could save you 15% or more on car insurance" their tagline and core value proposition. The implication is that it only takes 15 minutes for a consumer to contact GEICO and find out if they can get a better deal on their auto insurance. GEICO claims to offer average savings of over $500 per year compared to other big insurance companies.

How does GEICO offer these savings? First, the direct-to-consumer business model eliminates agent commissions so more money goes back to policyholders. Second, the company invests heavily in technology and data analytics to underwrite policies more efficiently. They can segment risk pools and price policies accordingly. Finally, GEICO's size gives them negotiating power with auto repair shops to reduce claim costs.

GEICO Car Insurance Products

GEICO offers standard auto insurance coverages required in each state, including:

• Liability insurance to cover damage/injury to others
• Collision insurance for damage to your vehicle
• Comprehensive insurance for damage from theft, vandalism, weather, etc.
• Uninsured/underinsured motorist coverage
• Medical payments coverage
• Personal injury protection

Beyond required minimum coverage, GEICO offers a number of optional add-ons including rental reimbursement, roadside assistance, mechanical breakdown insurance, and rideshare coverage for Uber/Lyft drivers. They also provide standard discounts for things like good driving history, vehicle safety features, and bundling home/renters insurance.

How to Get a GEICO Car Insurance Quote

There are a few ways to get a personalized GEICO insurance quote for your vehicle:

• Call 1-800-947-AUTO and speak with a licensed agent
• Get an online quote at geico.com by entering your basic info
• Download the GEICO Mobile app and complete the quoting process
• Visit a local GEICO agency in your area

To generate an accurate auto policy price, GEICO will need to know basic facts about you, your driving history, and the vehicles you want to insure. This allows them to provide quotes tailored to your specific situation.

GEICO Claims Process

If you need to file an auto insurance claim with GEICO, you can easily report it by:

• Calling 1-800-841-3000 to speak with a claims representative
• Using the GEICO Mobile app to start a claim
• Reporting the claim online at geico.com/claims

GEICO has a large network of auto repair shops ready to serve customers. You can choose to have your car repaired at one of these partner facilities, or take it to a shop of your choice. For injury claims or claims involving other drivers, GEICO claims adjusters will fully investigate the accident and act as your advocate throughout the process.

Is GEICO Right for You?

Here are some pros and cons when considering GEICO for your own car insurance needs:

Pros

• Low rates, on average, compared to competitors
• Good choice for high-risk drivers based on underwriting
• Excellent financial strength and reputation
• Convenient claims process with options to file online/via app
• Ample discounts available to reduce premiums

Cons

• Direct model lacks local agent relationship for advice
• Fewer frills and extras compared to full-service insurers
• May not have cheapest rates for all drivers
• Mediocre customer service ratings in some regions

Drivers looking for rock-bottom rates may want to get quotes from several companies before choosing GEICO. However, their strong brand and cost-saving efforts make them a top option for many. Compare GEICO against your current coverage today to see if you could save upwards of 15% or more on car insurance.

Frequently Asked Questions

Is GEICO cheaper than other insurance companies?

On average, GEICO offers cheaper car insurance rates compared to most major national insurance companies like State Farm, Allstate, and Progressive. However, every driver's situation is different, so it's important to compare quotes.

How much is GEICO a month on average?

Average GEICO car insurance rates run about $150 per month, but can range from as low as $25 per month for minimum coverage to $500 or more monthly for full coverage. Your actual GEICO premium will depend on factors like age, driving record, location, and type of vehicle.

Does GEICO have good coverage?

Yes, GEICO offers standard auto insurance coverage similar to other leading insurers. They provide all the typical coverages drivers need at state minimum mandated limits or higher. GEICO gets high marks for financial strength and claims satisfaction as well.

What discounts does GEICO offer?

GEICO offers many common auto insurance discounts, including multi-policy, good driver, anti-theft device, anti-lock brakes, defensive driver course, military/federal employee, and more. Bundling home or renters insurance can also lower your overall GEICO premium.

Can GEICO refuse a claim?

Yes, GEICO can deny a claim if investigation shows it falls outside the scope of your policy coverage or terms were violated such as late payment or no notification of major vehicle changes. However, GEICO has a strong reputation for fairly investigating and paying out on legitimate claims.

FAQs

Does GEICO offer accident forgiveness?

Yes, GEICO does offer accident forgiveness to customers who have been insured with them for at least 5 consecutive years with no lapse in coverage. This can prevent premium increases after one at-fault accident.

Is there a GEICO office near me?

GEICO has over 150 local offices across the U.S. You can find the nearest GEICO insurance agency by searching on their website or contacting them to ask an agent about local availability.

Does GEICO cover rental cars?

Yes, GEICO auto insurance policies can include rental car reimbursement coverage in case you need a rental after an accident. This covers rental costs up to a daily limit for a certain number of days.

What is the GEICO lizard's name?

The popular GEICO gecko mascot is named Martin and has been featured in their advertisements since 1999. Martin speaks with a Cockney accent in the commercials.

Can I pay my GEICO bill online?

Yes, GEICO offers options to pay your insurance bill online via their website or mobile app. You can use a checking account, credit card, debit card, or electronic check to pay online.