What is GEICO Auto Insurance?
Known for its friendly gecko mascot, GEICO is the second-largest auto insurance company in the nation. They’re praised for their low rates and providing consumers with the option to purchase car insurance online and over the phone.
Initially founded in 1936 to give federal employees affordable insurance, GEICO has since expanded to reach drivers from all walks of life. Let’s dive into GEICO’s auto insurance policies and see if this company is a good fit for you.
How Does GEICO Auto Insurance Work?
With GEICO’s vast popularity, many are curious about the ins and outs of their auto insurance policy. And by many — we mean you. So, since you’re here, check out a breakdown below.
GEICO Auto Insurance Payments
GEICO auto insurance presents a variety of payment options to its customers. Consumers can pay their entire premium in full or spread it between 2 – 6 installments. However, those who choose an installment plan will be subject to fees during each payment.
You can pay your premium by writing a check or using a debit or credit card. GEICO also has automatic online payments to set up recurring payments by electronic funds transfer (EFT) or debit or credit card.
GEICO Auto Insurance Rate Increases
After all the hard work you’ve put in to find affordable car insurance, the last thing you want to see is a rate increase. You may experience a rate increase with GEICO for various reasons:
- Coverage change: Making changes to your coverage levels can increase rates.
- Discount change: A discount you once received may no longer be available, or you might have lost eligibility for a discount (i.e., when you graduate from college and lose your Good Student discount)
- New vehicle: A new car can change rates if theft rates are higher for the new vehicle or the overall value is higher.
- Life change: Changing your address or zip code can affect rates. Also, marriages, birthdays, or adding new drivers to your policy can cause premiums to rise.
- Driving record: Accidents that result in claims, speeding tickets, or DUIs can cause rate increases.
If your GEICO rate does increase, be sure to compare auto insurance rates to find the best option in order to keep your premiums low. With Compare.com it’s easy! Simply enter your zip code to get started.
GEICO Auto Insurance Claims
After an accident occurs, GEICO encourages its customers to file a claim as soon as possible. You can either report your claim through the GEICO mobile app or their website. You can also call them at (800) 841-3000.
GEICO Auto Insurance Discounts
For the better part of a decade, you couldn’t watch TV without hearing an ad say “…but there is good news. I just saved a bunch of money on my car insurance by switching to GEICO.”
It might seem gimmicky, but when you look into it, GEICO does have a wide selection of discounts – multi-policy discounts, seniors’ discounts, over 15 discounts alone for car safety, and the list goes on. GEICO insurance even offers student discounts to high schoolers and college students.
GEICO’s discounts are easy to find and search through, depending on what category you’re looking to save on. For more details, check out our breakdown here:
| Discount | Savings |
|---|---|
| Homeowner Discount | Bundle your home and auto policies to save money |
| Military Discount | Save money if you’re an Active, Retired, or Reserve member of the armed forces |
| Good Student Discount | Save money with a stellar report card |
| Advanced Safety Features Discount | Pay less each month for having top of the line safety features in your vehicle. |
| Low-Mileage Discount | Save money on gas and your insurance |
| Anti-Theft Device Discount | Keep your vehicle safe and save money on your monthly policy |
| Safe driver’s discount | Save big by not having any accidents or violations on your traffic record. |
| Federal Employee Discount | If you work for the federal government, you could be saving even more |
| Multi-Policy Discount | Combine motorcycle, life, business, or other policies to save money across the board. |
| Multi-Car Discount | Save more by adding another car to your policy |
| New Vehicle Discount | If you’re driving a new vehicle, you could pay 15% less on your policy |
| Membership & Employee Discounts | If you are a member employee of one of over 800 organizations, you could be saving money |
| Paperless Billing Discount | Save up to 15% by going green and enrolling in paperless billing. |
GEICO Auto Insurance Coverage Options
So what kind of auto insurance coverage options does GEICO offer to its drivers? With all the talk of affordability, you might wonder if GEICO will have coverage options that meet your needs.
If you choose GEICO as your auto insurance provider, you can enjoy a plethora of coverage options:
- Liability coverage: Covers bodily injury liability and property damage liability
- Uninsured Motorist coverage: Compensates you for injuries or property damages caused by an uninsured driver
- Underinsured Motorist coverage: Protects you from at-fault drivers who lack enough coverage to pay for your claim.
- Medical coverage: Pays medical expenses related to a claim
- Personal Injury Protection coverage: Pays for medical treatments, lost wages, or other accident-related expenses
- Collision coverage: Covers damage to your vehicle if you’re hit by, or you hit another vehicle
- Comprehensive coverage: Pays for vehicle damage related to theft, vandalism, environmental damage, or other covered losses
If you genuinely want to dot all your i’s and cross all your t’s, consider purchasing full coverage with GEICO to be completely protected.
Outside of the traditional auto insurance coverage, GEICO offers three additional coverages:
- Emergency Road Service: Coverage for roadside emergencies like towing and battery jump starts
- Rental Reimbursement: Coverage that helps you pay your rental car costs while your vehicle is being repaired due to an ongoing claim.
- Mechanical Breakdown Insurance: Coverage on car repairs to all mechanical parts of your vehicle
GEICO Property Insurance Coverage
Property insurance helps you protect some of the largest investments in your life. After all the hard work you’ve put in to make your house a home, it would be a shame for you to leave it unprotected. Whether you’ve purchased a home or you’re renting, GEICO offers customers six types of property insurance coverage:
Homeowners Insurance
Your home is arguably one of the most significant investments you can make. First-time homebuyers and current homeowners can all benefit from homeowners insurance, as it protects your private residence against accidents.
A few common items covered by GEICO’s homeowner insurance are:
- Property damage
- Damaged or stolen property (furniture, appliances, clothing, etc.)
- Stolen jewelry
- Personal liability
- Medical bills
Renters Insurance
While you may think your landlord’s insurance is enough to keep you covered, this might not be the case. Your landlord’s insurance policy does cover the building, but it doesn’t protect the belongings inside. If you’re renting a house, condo, or apartment, renters insurance helps protect your priceless possessions.
A renter’s insurance policy covers damage from things like fire, smoke, water, theft, or vandalism. Items inside the unit such as furniture, electronics, appliances, and clothing are also protected by this policy.
Condo/Co-Op Insurance
Like renters insurance, condo, or co-op insurance covers the items inside your condo unit. With this policy, condo owners gain protection from unfortunate events like fire, theft, vandalism, and lightning.
Mobile Home Insurance
GEICO’s mobile home insurance policy covers your mobile home with a personalized policy. You’ll get protection for your personal belongings and liability and protect your home from external factors like fire, wind, hail, or water damage.
Landlord Insurance
Are you the proud owner of a rental property? Landlord insurance helps protect property owners from the financial troubles of renting a property. Protect your investment from structure damage, liability situations, and lost rent payments with a GEICO landlord insurance policy.
Flood Insurance
Who doesn’t love water? It’s refreshing in a glass of water, fun to splash in the pool, and lovely to enjoy when visiting the beach. Water is great, but water damage? Not so much.
Water damage that comes from floods can severely damage the structure of your home and cost you thousands of dollars in repairs. If you live in an area prone to flooding, GEICO offers flood insurance to cover the home structure and personal property damaged by flood conditions.
GEICO Business Insurance Coverage
Every business owner can benefit from some form of business insurance. However, even if you’ve owned a business for years, business coverage can be a daunting subject.
Let’s take a look at the seven types of business coverage from GEICO that you can use to protect your business:
Business Owners Policy (BOP)
GEICO’s business owner’s policy is designed to help small and medium-sized business owners sleep better at night. By combining property and liability insurance coverage into a single policy, this insurance helps to cover claims of bodily or property injury. This policy also covers defense costs for covered liability losses and protection of business furniture and equipment protection.
General Liability Insurance
Ever heard the saying, “Anything can happen in a New York minute”? Every day at your business is just another day on the job — until it isn’t. General liability insurance is a must to protect businesses from claims that happen during normal operations. It provides coverage to your company for property damage, physical injury, defense costs, and personal and advertising injury.
Professional Liability Insurance
Also known as Errors and Omissions insurance, professional liability insurance exists to protect you against negligence claims from a client or customer. It’s worth considering if your business provides professional services, professional advice to clients, or contractual services. The policy covers mistakes or negligence that result in client damage, copyright infringement, or personal injury claims.
Workers Compensation
Commonly known as worker’s comp, worker’s compensation insurance is non-negotiable if your business has employees. Even the safest work environments can have accidents. When this happens, worker’s compensation kicks in to cover medical expenses and lost wages for an employee when they’re injured on the job. This policy also covers workers who become sick or need rehabilitation services.
Medical Malpractice Insurance
Medical malpractice insurance is professional liability insurance offered to healthcare professionals. This policy protects healthcare workers against claims of injury and medical negligence. In addition, it can provide you with a lawyer if a case of medical malpractice goes to court.
Medical malpractice insurance by GEICO covers the following medical and fitness professionals:
- Nurse Practitioners
- Physical Therapists
- Licensed Practical Nurses
- Yoga Instructors
- Personal Trainers
- Physician Assistants
- Nurse Anesthetists
- Registered Nurses
- Optometrists
- Nursing students
Commercial Auto Insurance
When a driver uses their vehicle for business purposes, it should be covered by a commercial auto insurance policy. Commercial auto insurance covers business vehicles in the event the vehicle is damaged, bodily injury occurs, or there’s damage to someone’s property.
Cyber Liability Insurance
While there’s no denying that technology has changed the world for the better, it comes with a few cons. One of them is cyber security attacks. GEICO works to protect businesses from malware, phishing attacks, ransomware, and data breaches with cyber liability insurance. Cyber liability insurance also covers lost revenue and costs after an extortion threat or ransomware attack.
Other GEICO Insurance Coverage
GEICO is more than just a car insurance company with a cute mascot. GEICO offers consumers a whole host of additional insurance coverage to cover all your bases. You can get quotes for any of these types of insurance:
Jewelry Insurance
Are you the owner of Grandma Sylvia’s emerald rings? If so, you can protect your prized jewelry with their jewelry insurance coverage. The coverage includes theft, loss, damage, and disappearance, with rates costing around 1%-2% of the value of your jewelry.
Identity Protection
With the rise in cybersecurity attacks, many worry about the safety of their identity online. GEICO’s identity protection coverage gives customers round-the-clock coverage and equips them with tools to protect their identity. You get online access to your TransUnion credit report/score.
Life Insurance
GEICO has three types of life insurance coverage: term life, whole life, and universal life insurance. While the cost of this coverage varies from person to person, they do offer flexible and affordable payment plans.
Travel Insurance
Are you planning to jet off for an island getaway? With GEICO’s travel insurance, you can insure the flight or even the cost of the entire trip. Should any last-minute cancellations happen, you’ll be covered. This insurance covers flight cancellation, lost luggage, trip cancellation, and emergency medical transportation.
Overseas Insurance
Overseas insurance can protect your car, motorcycle, or personal property if you’re moving abroad. This policy is popular among military personnel, government employees, and expatriates. While policies vary between countries, you can typically purchase coverage for liability, comprehensive, and collision policies.
Pet Insurance
Protecting your four-legged best friend is high up on your list of priorities as a pet owner. Although spending the day at the dog park is fun, getting hit with an unexpected vet bill is not. Pet insurance makes sure you’re covered for whatever comes your way.
Umbrella Insurance
Anyone can use a little wiggle room when it comes to insurance coverage. Umbrella coverage kicks in to cover situations that your insurance may not, such as libel or slander. You can get up to 1 million in coverage on top of your auto or homeowner policy limits.
Who is GEICO Auto Insurance Good For?
GEICO’s auto insurance has a long history of offering both high quality and affordable insurance plans. If you want to go with a company you can trust to protect your car, home, business (the list goes on and on), you can rest easy with GEICO on your side.
Who is GEICO Auto Insurance Bad For?
While GEICO does offer affordable insurance rates to most drivers, high-risk drivers may not enjoy the same cheap rates. In addition, drivers looking for gap insurance will need to look elsewhere to find that coverage option.
Where is GEICO Auto Insurance Available?
GEICO auto insurance is available in all 50 states and Washington D.C., so no matter where you live, they have you covered.
GEICO Auto Insurance Customer Reviews
| Review Platform | Rating |
|---|---|
| Clearsurance | 4.13/5 – 18,654 reviews |
| BBB | A+ |
| JD Power | 867/1,000 |
| NerdWallet | 5/5 |
| Glassdoor | 3.3/5 – 4,400 reviews |
Overall, GEICO has done pretty well in the publics’ eyes. According to JD Power, GEICO has the highest rating out of all other major insurance companies, and the Better Business Bureau has awarded them an A+ rating to go with it. GEICO’s ratings on other sites hold up equally, too. If you average GEICO’s lowest and highest ratings, it comes out at around 4/5 stars, putting it in the same range as other big-name carriers such as Liberty Mutual and Progressive.
GEICO’s employees also rank it favorably, with a 3.3/5 star Glassdoor rating out of over 4,000 reviews. GEICO’s reputation precedes it, and it lives up to the hype. There is a reason why they are one of the most recognized and popular insurance companies in the industry.
Pros and Cons of GEICO Auto Insurance
If you’re still on the fence about choosing GEICO auto insurance, here are a few pros and cons to help finalize your decision.
Pros:
- Offers consumers a wide range of coverage: GEICO provides drivers with a wide range of coverage options. Drivers who need more specific coverage like roadside assistance, umbrella insurance, or pet insurance can also purchase these policies through GEICO.
- Easy to file claims: It’s simple to file a claim with GEICO. You can file online, through the app, or on the phone.
- Accident forgiveness: GEICO gives drivers the option to purchase or earn accident forgiveness. With this perk, you won’t see a rate increase on your premium when you have your first at-fault accident.
- An abundance of discounts: GEICO is known for being affordable, but they also offer dozens of discounts for you to save money on your premium. Students, teachers, military veterans, and more can save serious cash on their car insurance. To find out what discounts you qualify for, contact a GEICO agent.
- Mobile app: The well-designed mobile app makes it easy for GEICO drivers to file claims, view policies, and access their insurance ID cards.
Cons:
- Not all features are available in all 50 states: While GEICO does offer coverage to drivers in all 50 states and D.C., not all features are available nationwide. To see which coverages and policies are available in your state, contact a GEICO agent.
- Hard to reach agents: GEICO’s app and online interface are easy to use, but you might find it challenging to get in touch with a local agent.
- No gap insurance: Gap coverage covers the financial “gap” if your car is totaled and you still owe money on your car payment. If you need to secure gap coverage for your vehicle, you can’t purchase it through GEICO.
How to Cancel a GEICO Auto Insurance Policy
Canceling your GEICO auto insurance policy is relatively straightforward. Customers are not liable to a cancellation fee and can easily cancel their policy over the phone.
Begin by calling (800) 841-1587 and state you’re canceling your auto insurance policy. You’ll be prompted to input your GEICO policy number, so be sure to have that on hand. After this, you can speak to an agent and complete the cancellation of your policy.
FAQs About GEICO Auto Insurance
Does GEICO have a mobile app?
Yes, GEICO has a mobile app available for Android and iOS users. You can file and keep track of claims, access your digital auto insurance ID card, and pay bills. You can also request roadside assistance and track your vehicle’s maintenance history from the app.
How do I file a claim with GEICO?
Easily file a claim with GEICO through the mobile app or online. Alternatively, you can file a claim over the phone at (800) 841-3000.
How do I cancel my GEICO auto insurance policy?
You can cancel your auto insurance policy over the phone by calling (800) 841-1587.
Does GEICO offer coverage in my state?
Yes, GEICO offers coverage in all 50 states and Washington D.C.
