Allstate vs GEICO: Compare car insurance rates and reviews side-by-side
When the time comes to purchase car insurance, there are many different aspects to take into consideration. What coverage do you value most? Do you have a clean driving record? How much can you afford to pay monthly for your car insurance policy? The easiest way to decide is to compare the top carriers and note each company’s strengths. By educating yourself on each carrier, you can confidently purchase your ideal car insurance policy.
That’s why we’re here. If you’re looking to see how GEICO and Allstate stack up, then this guide is for you.
GEICO, or the Government Employees Insurance Company, was initially founded by the husband and wife team of Leo and Lillian Goodwin in 1936. Their company’s opening was in the middle of the Great Depression, so starting a car insurance company was a bold maneuver.
In the beginning, GEICO offered only auto insurance, but has since branched out to renter’s insurance, motorcycle, and boat insurance. GEICO proudly experienced over 60 years of success before they were bought as a subsidiary of Berkshire Hathaway, Inc., a company owned by Warren Buffet, in 1996. GEICO is perhaps best known for its friendly green gecko mascot in today’s current culture that has starred in their commercials for years. They’re also known for their powerful stance as one of the industry’s leading competitors among insurance carriers, holding a 4.13/5 rating with Clearsurance and an A+ rating with BBB (The Better Business Bureau).
Allstate Insurance Company was founded in 1931 as a part of Sears Roebuck, but branched out as its own carrier company in 1993. Since Allstate’s original establishment, they have taken a stand as one of the nation’s largest publicly held personal line insurers, including, of course, auto and home insurance policies.
Allstate has continued its rise as an insurance superpower in recent years, coming in #79 on Fortune’s Top 100 list for 2019. Allstate pulls in a yearly revenue of over $44 billion and is best known for its catchphrase, “You’re in good hands with Allstate.” With over 16 million policyholders, Allstate is an appealing choice when it comes to auto insurance policies.
How do GEICO and Allstate Stack Up?
One of the best ways to make an informed decision before purchasing an insurance policy is by comparing user reviews from credible sources. By doing so, you can read real people’s take on different carriers and hear about their real-life experiences with claims, coverage, and customer service.
What are customers saying?
|Allstate||3.1 Stars||3.5 Stars|
|GEICO||4 Stars||3.5 Stars|
According to wallethub.com and Consumer Reviews, Allstate has a 3.1-star rating of 5, with 576 user reviews on WalletHub; and a 3.5-star rating with a total of 324 reviews on Consumer Reviews.
Allstate seems to do favorably with overall customer satisfaction, but falls slightly below average when it comes to their premium costs. Allstate was found to be higher than their top 8 competitors in pricing, but thrived in their customer discount ratings.
Wallet Hub and Consumer Reviews found GEICO to hold a user rating of 4 and 3.5 out of 5, respectively. GEICO offers very competitive pricing on its policies, and this has helped its overall customer score due to the value that most users have appreciated. GEICO scores a bit low when it came to overall customer service satisfaction with a general 3/5 average rating.
What are experts saying?
Industry reviews can show critical analyses and information about different insurance carriers, where user reviews strictly offer customer preferences and their personal experiences with each company. Here’s what a few of the biggest names in the business have to say about the battle of Allstate vs. GEICO.
|JD Power||AM Best||B.B.B.|
|Allstate||858 / 1000||A+||A+|
|GEICO||867 / 1000||A++||A+|
Allstate Industry Breakdown
JD Power, AM Best, and Better Business Bureau (BBB), are three leading voices within the industry review community. Their company ratings are held in high opinion and are easily trusted to be accurate overall.
Allstate’s ranking in JD Power’s 2020 statistics shows the carrier as a leading competitor across multiple specialized areas. Through JD Power, the state of Florida has rated Allstate as their number one insurance carrier with outstanding overall customer satisfaction. It should be noted that Allstate did score slightly below the national average in customer service when it came to the filing of an actual insurance claim, however.
Allstate scored favorably with both AM Best and the BBB, scoring an A+ with each industry critic. AM Best’s rating reflects the carrier’s strong financial balance sheet and its above-average business profile. The Better Business Bureau awarded Allstate with its highest grade available, A+, because of their business practice transparencies, and their 81 years of law-abiding operations.
GEICO Industry Breakdown
Over the years, GEICO has maintained its stature as one of the best insurance carriers to choose from, and you can understand why just by looking at the JD Power, AM Best, and BBB reviews.
JD Power has GEICO rated as number one out of all major insurance companies. As of April 2020, JD Power reported that GEICO was one of just two insurance companies that have seen 92% of all premium growth. In all likelihood, the exceptional growth is due to their COVID-19 response, as customers are now prioritizing convenience and price value.
GEICO earned an A++ accreditation from AM Best for its financial stability. This is especially important in an insurance carrier because while affordable pricing is important to all customers, the price doesn’t help if the company doesn’t have enough money to pay your claim. That worry is non-existent with GEICO, as they currently hold assets worth an impressive $32 billion. The BBB also has GEICO rated with the highest of marks due to their quick clearance of customer complaints, and their direct and straight-forward marketing practices.
Who Has the Better App?
|Apple Store||Google Play|
|Allstate||4.8 Stars||4.4 Stars|
|GEICO||4.8 Stars||4.8 Stars|
If an insurance provider does not have a usable phone app in today’s market, they will quickly be overrun by those that do. The user-friendliness of said app, however, can have a big effect effect on a company’s customer reviews.
According to Appgrooves, Allstate’s app has a 4.8-star rating of 5, with over 593k customer reviews being posted. By downloading Allstate’s app, policyholders can participate in their Drive Safe program, which monitors how the user drives. If the policyholder is shown not to swerve too quickly or slam on their breaks too often, they could be eligible for discounted rates.
According to Appgrooves, GEICO’s insurance app also sports an impressive 4.8-star rating out of 5, with over 2.7 million users reporting. GEICO’s app is praised for its clear and concise approach to filing a claim and user’s ability to track their claim’s progress.
GEICO vs. Progressive: Which one is cheaper?
When shopping for car insurance, it’s best to know that there are many factors that go into determining a premium price rate. How to get a quote, you’ll need to gather some crucial information beforehand, such as factors like:
- Make, model, and year
- Use of the vehicle (Commuting, commercial, personal)
- Do you own or lease
- Annual Mileage
- Full name
- Phone Number
- Marital Status
- License Status
- Current insurer
- Accidents, claims, and tickets
A recent national study by U.S. News tells us more about the average annual premium rates.
|Total Average Annual Rate||$1,880||$1,168|
Price comparison seems to be what sets these two competing carriers apart. According to U.S. News, GEICO was voted by users as the second-best auto insurer, with Allstate coming in a close third.
Both of these companies have exhibited strengths in customer service and coverage, but their differences become apparent when it comes to price. Allstate is consistently one of the most expensive auto insurance providers across the board, where GEICO is the second cheapest. Allstate shows an average annual price point of $1,880, where GEICO’s annual pricing offers a much more affordable $1,168.
Despite the demographic or specific coverage type, Allstate was consistently hundreds of dollars more expensive than GEICO. Even in areas that show higher prices, such as poor credit or DUIs, Allstate was averaging about $300 a year higher than GEICO.
Allstate vs. GEICO: Which offers better discounts?
Allstate has maintained a high user and industry review score, despite their higher prices, mainly due to their customer service and their wide array of discounts. Some of Allstate’s car insurance discounts include:
|New car (2004 or newer)||30%|
|Passive restraint (airbags and seatbelts)||30%|
|Resident student (100 miles away)||30%|
|55 and retired||10%|
|EZ pay plan||5%|
GEICO Auto Insurance Discounts
Like Allstate, GEICO offers multiple policy discounts, as well as additional safety features. However, they also provide military and low mileage discounts. GEICO’s discounts include:
|Air Bag||40% for the full front seat, 25% for driver’s side|
|New Vehicle Discount||15%|
|Seat Belt Use||15%|
|Daytime Running Lights||1%|
|Membership or Employee||Varies|
Allstate and GEICO both offer many other insurance policy types, many of which are eligible for significant discounts when bundled with your auto insurance.
Allstate Optional Coverages
- Identity Theft
GEICO Optional Coverages
- Mobile Home
- Workers Comp
- Identity Theft
Other Coverage Options
|Business Owners Policy (BOP)||Yes||Yes|
|Wellness & Fitness||Yes||Yes|
|Wedding & Event||No||Yes|
How to Pay your Allstate or GEICO Bill
|Credit card: Visa, Mastercard, Discover||Yes||Yes|
|Electronic Funds Transfer||Yes||Yes|
If you’re a customer of Allstate, paying your bill is comfortable with their phone app. On their app, you can make or schedule a future payment. You also can pay online or with your bank, provided your bank offers only bill pay options.
Paying by phone with an automated service is also available at 1-800-901-1732. Allstate also allows payments to be mailed by check or money order; the address of where to send your payment can be found on your bill.
You can pay your GEICO bill with your debit or credit card via their mobile app. If you wish to pay by phone instead, you may do so by calling (800)-932-8872.
Best Carrier for Special Circumstances
Sometimes one carrier is preferable to another if you are under a specific circumstance, such as a DUI, or fall into a particular age range.
If you have a DUI, Allstate increases your premium costs by 65%. Taking their average $1,898 price and raising it to $3,132. On the other hand, GEICO shows an average cost of $1,276, which is increased to $2,647 with a DUI.
However, neither company is best equipped to offer car insurance to drivers with DUIs or other extenuating circumstances. In fact, there are many smaller companies that can offer much stronger and cheaper coverage. To determine which insurer is best for you, get a comparable price comparison via Compare.com.
If you’re a driver that requires an SR-22 certificate, you’ll need to request an online quote, and within the quote information, you’ll need to disclose that you require an SR-22 certificate. The typical cost of filing an SR-22 certificate is between $15-$50. However, that does not include the value of your insurance premiums going up due to your driving record.
Perfect Driving Record
Allstate and GEICO both offer significant discounts for policyholders with perfect driving records. Allstate’s premium rate for excellent drivers is $786, where GEICO’s is a lower $709.
Many insurance companies offer savings for married couples, especially if they are multi-car and or multi-policy holders. Allstate offers newlywed protection, as well as discounts for already married people. GEICO offers up to 25% off their rates for a married couple that purchases a multi-car insurance policy. You would be able to up that savings rate even further with GEICO’s additional offerings, such as homeowners or umbrella insurance.
Young and Old
Young adults can save significantly with GEICO versus Allstate because, in this area, they offer significant price differences. Young adults with clean driving records can be offered a premium rate of $1,317. In comparison, Allstate provides a more massive rate of $2,055 for new drivers.
Drivers who are a bit higher up on the age scale should consider GEICO as well, due to their consistently lower rates and their accident forgiveness program. The downside for the elderly may be that GEICO works almost exclusively online. However, unlike GEICO, Allstate offers exclusive senior citizen discounts and many perks for long-time customers.
GEICO vs. Progressive FAQs
Where do Allstate and GEICO Offer Coverage?
Allstate and GEICO both operate within the United States, and therefore offer coverage in all 50 states.
How Do I Cancel My GEICO or Allstate Policies?
To cancel an insurance policy, you will have to call GEICO (800-691-4240) and Allstate (877-810-2920) by phone.
How Can I File A Claim?
To file a claim with Allstate, you can file on their mobile app, which may be the easiest way. You can also file by calling 1-800-ALLSTATE (1-800-255-7828). Either way you file, you can track your claim via their mobile app.
GEICO also offers claim filing via its mobile app. Once filed, you can track all claims from your mobile device. If you prefer to file over the phone, the number to do so is (800-710-7751).
Find the Right Coverage for You at Compare.com
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