- Based on national averages for insurance, Progressive offers slightly less expensive prices than GEICO
- GEICO tends to be a much cheaper option for drivers who have an at-fault accident on their record
- Progressive offers more affordable average rates for policyholders who drive fewer than 12,000 miles yearly
In This Article
- Which Company has the Cheapest Rates?
- Average Rates by State
- Which is the Best Company for Young Drivers?
- Which is the Best Company for Retired Drivers?
- Which is the Best Company for Married Drivers?
- Average Rates by Gender
- State Minimum vs. Full Coverage Rates
- Which is the Best Company for Drivers with Spotty Records?
- How Does Credit Score Impact Rates?
- How Does Annual Mileage Affect Rates?
- Compare Rates for Urban, Suburban, and Rural Drivers
- Which Company has the Most Discounts?
- Final Thoughts
GEICO vs. Progressive: Which Company has the Cheapest Car Insurance?
Are you in the market for a new car insurance policy? With so many ads from all sorts of companies offering hefty discounts, you're probably wondering exactly how much you might be able to save.
You might have narrowed it down to GEICO or Progressive, but which one will save you the most?
Looking at nationwide averages, Progressive is about $5 a month cheaper than GEICO.
But that doesn't mean Progressive will necessarily be more affordable than GEICO for every single driver. After all, insurance companies can offer drastically different rates to each driver depending on rating factors like where you call home, your driving record, your credit score, or even your age (among other things). So, at the end of the day, prices from every carrier will differ quite a bit from person to person.
Wanting to know if GEICO or Progressive is really the right company for you? Keep on reading to see how average premiums can change based on all of the factors we've mentioned above.
GEICO or Progressive: Average Car Insurance Rates by State
GEICO and Progressive compete against each other in 43 states, with GEICO offering less expensive rates to the average driver in 25 of them. If you live in Delaware, Georgia, Iowa, Illinois, Kansas, Louisiana, or a few others, Progressive is the more affordable of the two carriers when looking at the overall average prices, but GEICO is the cheaper option in all the others.
But there's more to auto insurance than just where you live. As we mentioned above, there's a lot of things that go into how car insurance companies calculate your rates. Continue reading to see how other factors will affect your rates.
Which is the Best Company For Young Drivers
Young drivers -- especially teens -- generally pay a lot for insurance compared to older drivers. It's because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.
However, that doesn't mean that teen drivers have to just accept sky-high car insurance premiums. Just look at the table above -- where 18-year-old drivers who have GEICO for their auto insurance pay more than $80 less than those who use Progressive.
That being said, both carriers will lower rates by the time drivers turn 25. For example, average premiums for GEICO policyholders reduce over 55% and Progressive's prices drop nearly 70% over that time.
Which is the Best Company for Retired Drivers?
Once you approach retirement age, you'll typically enjoy the most affordable car insurance premiums out there. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for auto insurance.
So, which carrier offers the best rates to retired drivers? GEICO gets the slight edge here, with average premiums coming in at around $131 a month compared to Progressive's $148. Even so, the difference is only about 5%, so other variables (such as your credit score or your driving record) will likely come into play when determining which company has the lowest prices for you.
Which is the Best Company for Married Drivers?
Single policyholders tend to get offered slightly more expensive insurance rates than married policyholders. That's because policies for married couples usually cover multiple cars, which lots of companies will offer you a discount for.
When it comes to relationship status, GEICO is the winner for those who are single, with prices around $13 per month less expensive than Progressive, on average. It's not quite so glaring for single drivers, where drivers who use Progressive save about 6% a month.
GEICO vs. Progressive: Average Rates by Gender
Men tend to pay more for auto insurance than women. This is because women are less likely to get tickets and get into collisions, which lowers the chances of an insurance claim.
Women normally pay around 4% per month less than men with GEICO, and about 3% less with Progressive when compared to their male counterparts.
Looking at overall affordability, Progressive offers the cheapest average premiums for both men and women, with average rates $6 less for men and $3 cheaper for women.
GEICO or Progressive: Compare State Minimum vs. Full Coverage Rates
*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits
**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.
For most people, insurance isn't the easiest topic to understand. Everyone needs car insurance, but there are so many different terms and coverages that it can be hard to find the right policy.
The two most common policies that many drivers look at fall into two categories -- liability only (that covers bodily injury and property damage for other drivers and their passengers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to what you get with a liability policy).
In this case, GEICO offers the most affordable average prices for state minimum liability insurance, while Progressive has the edge for full coverage policies with similar coverage limits. Drivers looking for basic state minimum coverage can save around $10 with GEICO, while full coverage comes out to be around $20 cheaper with Progressive.
Is GEICO or Progressive Better for Drivers with Spotty Records?
You've probably seen plenty of commercials from auto insurance carriers offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.
It's no secret secret that tickets and at-fault accidents lead to higher rates, but which carrier -- GEICO or Progressive -- has the cheapest prices for drivers with less-than-ideal driving records?
Which Company is Best for Drivers with Speeding Tickets?
|1 Speeding Ticket||$150||$180|
GEICO policyholders can expect their premiums to go up an average of $35 a month if they get a ticket, while Progressive typically raises rates about $31 per month, on average.
That being said, GEICO has more affordable prices for drivers in both categories, offering premiums that are $34 and $30 less expensive, respectively, compared to Progressive.
Which Company is Best for Drivers After an Accident?
|1 At-Fault Accident||$200||$214|
GEICO policyholders who get in a collision can expect to see their rates rise by $85, while those who have insurance through Progressive will see around a $65 increase.
Overall, GEICO offers the lowest premiums for drivers with an at-fault accident on their records, with monthly prices averaging $200 compared to Progressive's $214.
Which Company is Best for Drivers with a DUI?
If you get a DUI charge on your record, it's probably going to cost you more than a simple speeding ticket or even a collision. On average, GEICO will increase your rates about 58% after a DUI, while Progressive's average prices rise by over 15%.
If you have a DUI on your record and are looking for more affordable premiums, Progressive tends to be the much cheaper option with average rates of $177 per month compared to $275 from GEICO.
How does Credit Score Impact GEICO and Progressive Rates?
Did you know that many insurance companies take your credit score into account when calculating prices? This isn't always the case (Massachusetts, for example, has banned the use of credit score as a rating factor) but it does affect several drivers out there.
Car insurance carriers argue that those with poor credit scores are less likely to pay their bills on time each month, which increases the risk involved on their end, while the opposite is true for those with good credit.
Looking specifically at GEICO and Progressive, which carrier has the cheapest rates for policyholders at different credit levels?
Which Company is Best for Drivers with Good Credit?
|Excellent Credit Score||$131||$136|
|Good Credit Score||$157||$164|
If you have great credit, you can save a few bucks a month by choosing GEICO for your auto insurance. Compared to Progressive, GEICO offers policies $5 cheaper for drivers with "excellent" credit scores, and around $7 a month cheaper for those with "good" scores.
Which Company is Best for Drivers with Bad Credit?
|Fair Credit Score||$181||$197|
|Poor Credit Score||$247||$253|
The same goes for drivers with worse credit. GEICO is $16 a month cheaper than Progressive when it comes to drivers with "fair" credit scores and about $6 cheaper for "poor" scores.
Is GEICO or Progressive Better for Drivers who Work from Home or Have Short Commutes?
|6,000 Annual Miles||$180||$181|
|12,000 Annual Miles||$180||$189|
The amount of time you spend behind the wheel of your car plays a big role in how much insurance companies will charge for coverage. Normally, those who drive less will end up with less expensive premiums since there's less of a chance of getting into an accident and causing an insurance claim.
As you can see in the table above, annual mileage doesn't have much of an impact on how much GEICO charges. However, there's a difference in monthly rates for Progressive, with policyholders who drive 6,000 miles every year paying around $8 less each month compared to those who drive 12,000 miles annually. Still, Progressive is the more affordable option for drivers in both categories.
GEICO vs. Progressive: Compare Rates for Urban, Suburban, and Rural Drivers
We've already mentioned how your home state can play a role in how much you pay for auto insurance, but the type of area you live in can have a substantial impact as well. Usually, those who live in rural areas will pay less than drivers in urban areas due to the small number of vehicles that are on the roads in those areas.
GEICO boasts the most affordable average premiums for drivers in all areas, regardless of if they're urban, suburban, or rural.
For policyholders in urban ZIP codes, GEICO offers prices about $207 monthly compared to Progressive's $211. People who live in suburban ZIP codes can expect to pay around $179 a month for GEICO and $185 for Progressive. Lastly, those in rural areas tend to get the lowest rates from both carriers, with average monthly premiums coming in at $154 and $159 for GEICO and Progressive respectively.
GEICO vs. Progressive Discounts
Regardless of why you might be in the market for a new car insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by taking advantage of as many insurance discounts as you can.
But with what seems like a million different discounts out there, it can be challenging to nail down the carrier that has the most discounts for your unique driver profile and to find all the discounts you can take advantage of.
In the section below, we've compared all of the different discounts offered by GEICO and Progressive so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.
|Advance Quote Discount||✔|
|Advanced Safety Feature Discount||✔|
|Agency Transfer Discount||✔|
|Commercial Drivers License Discount||✔|
|Continuous Insurance Discount||✔|
|Covid-19 Relief Discount||✔||✔|
|Defensive Driver Discount||✔||✔|
|Deployed Driver Discount||✔|
|Distant Student Discount||✔||✔|
|Driver Training Discount||✔|
|Full Coverage Discount||✔|
|Good Driving Discount||✔||✔|
|Good Student Discount||✔||✔|
Progressive blows GEICO away when it comes to the sheer amount of discounts available, offering six more discounts than GEICO.
Both companies offer lots of the same discounts -- like anti-theft discounts, discounts for being a defensive driver, distant student discounts, and discounts for being a good driver -- but Progressive also offers an advance quote discounts, advanced safety feature discounts, agency transfer discounts, and more that GEICO does not.
On the flip side, GEICO has a couple unique discount of its own -- commercial drivers license discounts, deployed driver discounts, discounts for getting driver training, and more.
Final Thoughts: Is GEICO or Progressive Best for You?
So, we've broken down the average prices for many of the factors auto insurance carriers look at, and walked through the different discounts each company offers, too. That's all well and good, but when it comes down to it, which insurance carrier is the right one for you and your specific driver profile?
Progressive is best for you if...
Progressive is best for you if...
- You care about discounts (Progressive offers the most).
- You want full coverage for your vehicle.
- You're married and plan to have both of your names on the vehicle's car insurance policy.
GEICO is best for you if...
GEICO is best for you if...
- You don't have any speeding tickets, DUIs, or at-fault collisions on your record.
- You want basic insurance coverage at the state minimum limits.
- You want to save money on your auto insurance after an collision.
We hope this guide has ben a valuable resource as you compare GEICO and Progressive. We also hope we've given you the information you need to make the best decision about your car insurance.
But, at the end of the day, the only one way to know for sure that you're getting the best possible deal on insurance is to compare quotes from a handful of companies, not just GEICO and Progressive. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of top auto insurance carriers in your area, all in just a few minutes.
GEICO vs. Progressive FAQs
Is GEICO or Progressive cheaper?
Looking just at the national average rates, Progressive is the cheaper of the two companies, offering average rates of $180 per month compared to $185 for GEICO.
Who is better, GEICO or Progressive?
Sadly, the real answer is "it depends". One company is not necessarily "better" for every driver -- it all depends on the makeup of your unique car insurance profile. For example, GEICO offers less expensive prices for drivers with an at-fault accident on their record, while Progressive is more affordable for drivers who are married..
Why do GEICO and Progressive offer me different rates?
Auto insurance carriers take a look at many different variables when determining the premiums they charge policyholders. Factors such as where you call home, gender, where you live, age, and sometimes even things like your credit score can all be used. Both GEICO and Progressive calculate rates differently, so each one will most likely offer different prices. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from a bunch of different companies.
How do I know if GEICO or Progressive is right for me?
The only way to find the insurance company that's right for you is by getting quotes from several carriers and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your area information and you'll get free quotes from dozens of the best car insurance companies in your area. With those, you can guarantee you're getting the best premium. And who knows, the best carrier for you might not be GEICO or Progressive at all!
All data in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of data to determine all of the average rates referenced above. All data is reported by each carrier to statewide insurance bureaus and is up-to-date as of July 1, 2021.