- In general, GEICO offers less expensive prices than Wolverine Mutual
- GEICO has more affordable rates for residents of urban areas
- Wolverine Mutual offers more affordable premiums for drivers who have an at-fault accident on their record
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. Wolverine Mutual: Which Company has the Cheapest Car Insurance?
Are you in the market for a new insurance policy? You've probably seen commercials and billboards from companies offering large discounts, but exactly how much money can you save by switching?
You've maybe even narrowed it down to GEICO or Wolverine Mutual, but which company has cheaper rates for auto insurance?
Looking at nationwide averages, Wolverine Mutual is about $39 more per month than GEICO.
However, that doesn't mean GEICO will necessarily be more affordable than Wolverine Mutual for every driver. Car insurance companies vary their prices depending on things like how good your credit score is, how clean your driving record is, how old you are, where you live, and a ton of other factors, so rates will vary quite a bit from person to person.
Luckily, we've broken down average prices from both GEICO and Wolverine Mutual by a variety of different rate factors, so read on to find out which carrier is the best for you.
GEICO or Wolverine Mutual: Average Car Insurance Rates by State
GEICO and Wolverine Mutual only compete against each other in Michigan, where Wolverine Mutual offers the cheaper average premiums. For Michigan residents, Wolverine Mutual offers auto insurance for $224 a month on average. GEICO's average rates come out to be over 60% more expensive, at $377 monthly.
But there's more to calculating insurance premiums than just the state you live in. Read on to find out more.
Which is the Best Company For Young Drivers
Teen drivers will almost always have the most expensive auto insurance prices of any other group of drivers. That's because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.
But still, even with seemingly sky-high premiums, teen drivers can still find ways to save money. As you can see above, teens who use GEICO save nearly $65 a month compared to those who use Wolverine Mutual. It's worth noting that GEICO offers car insurance in 50 different states compared to Wolverine Mutual's one, which can skew the average rates a bit, but the difference here is still considerable.
But both carriers will offer you dramatically lower prices once you turn 25. For example, average rates for GEICO policyholders lower more than $200 and Wolverine Mutual's premiums reduce almost $150 over that time.
Which is the Best Company for Retired Drivers?
Drivers around retirement age typically enjoy some of the lowest insurance prices out there. After all, they've likely been driving for quite some time, which normally lowers their chances of accidents and other infractions that can increase rates.
When looking at GEICO and Wolverine Mutual specifically, which company is best for retired drivers? Wolverine Mutual gets the edge, with prices for drivers 65 and older $29 less expensive than the national average for GEICO.
Which is the Best Company for Married Drivers?
Did you know that car insurance premiums are generally more expensive for single policyholders than they are for married drivers? This usually boils down to married couples having several cars on their policy -- something quite a few auto insurance companies will reward with discounts.
When it comes to relationship status, GEICO is the clear winner for those who are single, with rates around $42 per month cheaper than Wolverine Mutual, on average. The advantage is also clear for married policyholders - GEICO offers the cheapest average prices.
GEICO vs. Wolverine Mutual: Average Rates by Gender
Men are statistically more likely than women to get into collisions and file an insurance claim, which means they'll usually end up paying more for insurance than women.
With GEICO, women generally pay about $10 a month less than men; everyone gets the same monthly premiums regardless of gender with Wolverine Mutual.
Looking at overall affordability, GEICO comes out on top for both men and women. On average, women save about $43 per month and men save around $35 with GEICO compared to the average Wolverine Mutual policyholder.
GEICO or Wolverine Mutual: 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, car insurance can be pretty complicated. There are many different coverages that account for a range of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.
The two most common policies that many drivers look at fall into two categories -- liability only (that covers property damage and bodily injury for other drivers if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to what you get with a liability policy).
If you're looking for state minimum liability insurance, GEICO usually offers more affordable rates of $101 compared to Wolverine Mutual's $114. When it comes to full coverage policies with similar limits, GEICO again has the edge, with policies about $65 a month cheaper than Wolverine Mutual, on average.
Is GEICO or Wolverine Mutual Better for Drivers with Spotty Records?
You've probably seen plenty of commercials from insurance carriers offering great prices for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.
You'll probably end up paying more with tickets and at-fault accidents on your record, but which of these two companies offers the most affordable premiums to drivers with spotty records?
Which Company is Best for Drivers with Speeding Tickets?
|1 Speeding Ticket||$150||$175|
GEICO policyholders can expect their prices to go up an average of $35 per month if they get a ticket, while Wolverine Mutual typically raises premiums around $29 a month, on average.
That being said, GEICO is normally the less expensive option for both drivers who have a recent speeding ticket and those with clean records -- their rates are around 21% cheaper for drivers with clean records and 14% less expensive for those with a ticket.
Which Company is Best for Drivers After an Accident?
|1 At-Fault Accident||$200||$188|
GEICO drivers who get in an accident can expect to see their rates rise by just under 45%, while those who have insurance through Wolverine Mutual will see about a 20% increase.
Overall, the more affordable premiums come from Wolverine Mutual, with monthly prices averaging $188 compared to GEICO's $200.
Which Company is Best for Drivers with a DUI?
If you get a DUI charge, you can expect some pretty significant increases in your monthly auto insurance bill -- usually a lot more than a collision or ticket. For example, Wolverine Mutual increases average rates by just under $250 per month -- that's over a 60% increase.
GEICO has the overall cheapest premiums for drivers with a DUI on their records at $275 per month, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Wolverine Mutual, so the data may be skewed slightly.
How does Credit Score Impact GEICO and Wolverine Mutual Rates?
Did you know that many car insurance carriers take your credit score into account when calculating rates? This isn't always the case (for example, Massachusetts and Hawaii are two states that ban the practice entirely), but it might come into play for many policyholders.
The reasoning insurance companies use is that drivers with bad credit will be less likely to pay their bills on time; so generally, they'll be asked to pay more, while those with good credit will be rewarded with cheaper prices.
Looking specifically at GEICO and Wolverine Mutual, which carrier has the best rates for policyholders at different credit levels?
Which Company is Best for Drivers with Good Credit?
|Excellent Credit Score||$131||$147|
|Good Credit Score||$164||$174|
Michigan is one of a small number of states that restricts auto insurance carriers from using credit scores to calculate prices. And since Wolverine Mutual is only available in Michigan, there is no data available on how credit score impacts premiums because it's not a factor([object Object]) at all. This may be a good thing, since GEICO and other companies tend to raise rates quite a bit in other states if you don't have excellent credit.
Which Company is Best for Drivers with Bad Credit?
|Fair Credit Score||$197||$245|
|Poor Credit Score||$253||$333|
If you have a below average credit score and live in Michigan, the good news is it won't cost you extra when it comes to car insurance. As you can see, poor credit can really cost GEICO drivers in other states, but no need to worry if you live in Michigan.
Is GEICO or Wolverine Mutual Better for Drivers who Work from Home or Have Short Commutes?
|6,000 Annual Miles||$181||$224|
|12,000 Annual Miles||$189||$224|
The amount of time you spend behind the wheel of your car plays a big role in your monthly insurance payment. Normally, those who drive less will end up with more affordable 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 Wolverine Mutual charges. However, there's a small difference in monthly prices for GEICO, with policyholders who drive 6,000 miles each year paying around $8 less every month compared to those who drive 12,000 miles annually. Still, GEICO is the less expensive option for drivers in both categories.
GEICO vs. Wolverine Mutual: Compare Rates for Urban, Suburban, and Rural Drivers
Where you park your car can have a substantial impact on your monthly auto insurance cost. Typically, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders because there are a lot fewer vehicles on the roads in those areas.
GEICO boasts the most affordable average premiums in urban and suburban areas, while Wolverine Mutual wins in rural areas.
In urban areas, GEICO's average rates are about 39% less than Wolverine Mutual. Drivers in suburban ZIP codes pay around 4% less with GEICO compared to Wolverine Mutual. If you live in a rural area, you can expect to save about 14% with Wolverine Mutual compared to GEICO.
GEICO vs. Wolverine Mutual Discounts
Regardless of why you might be in the market for a new insurance policy, you're always going to want to save as much money as possible. That's where auto insurance discounts comes into play.
But with what seems like a million different discounts out there, it can be hard to find all the ones you qualify for or to nail down the carrier that has the most discounts for your unique driver profile.
Below, we've taken a look at all of the different discounts GEICO and Wolverine Mutual offer their customers so that you can see which one can save you the most money each month.
|Commercial Drivers License 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||✔||✔|
|Mature Driver Discount||✔|
|New Vehicle Discount||✔|
GEICO blows Wolverine Mutual away when it comes to the sheer amount of discounts available, offering 28 different discounts to Wolverine Mutual's nine.
Both carriers offer quite a few of the same discounts -- like ABS discounts, discounts for being a good driver, military discounts, and passive restraint discounts -- but GEICO also offers anti-theft discounts, commercial drivers license discounts, COVID-19 relief discount, and more that Wolverine Mutual does not.
Wolverine Mutual's discounts come through just a few categories, including ABS, Distant Student, Good Driving, and more.
Final Thoughts: Is GEICO or Wolverine Mutual Best for You?
So, we've broken down the average prices for many of the factors car insurance companies 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, is GEICO or Wolverine Mutual the right carrier for you and your specific profile and needs?
GEICO is best for you if....
GEICO is best for you if....
Wolverine Mutual is best for you if...
Wolverine Mutual is best for you if...
We hope this guide helps you get a better idea of the difference between GEICO and Wolverine Mutual. We also hope we've given you the information you need to make the best decision about your auto insurance.
At the end of the day, the best way to make sure you're getting the best deal on your insurance policy is to compare quotes from several carriers, not just GEICO and Wolverine Mutual. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get multiple free quotes from some of the best car insurance companies in your area, all in just a few minutes.
GEICO vs. Wolverine Mutual FAQs
Is GEICO or Wolverine Mutual cheaper?
Looking just at the national average rates, GEICO is the more affordable of the two carriers, offering average rates of $185 a month compared to $224 for Wolverine Mutual.
Who is better, GEICO or Wolverine Mutual?
Unfortunately, the real answer is "it depends.". No one carrier is necessarily "better" for everyone -- it all boils down to your unique auto insurance profile. For example, GEICO offers cheaper premiums for single drivers, while Wolverine Mutual is less expensive for drivers who have already retired.
Why do GEICO and Wolverine Mutual offer me different rates?
Car insurance companies take a look at a lot of different variables when determining the prices they charge policyholders. Factors such as age, where your home is, your driving record, gender, and sometimes even things like your credit score can all be taken into consideration. Both GEICO and Wolverine Mutual calculate rates using different variables, so each one will most likely offer different prices. The only real way to see which company is the lowest for you is by comparing personalized quotes from several different carriers.
How do I know if GEICO or Wolverine Mutual is right for me?
The only way to find the insurance carrier that's right for you is by getting quotes from a handful of companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code and you'll get free quotes from dozens of the best car insurance carriers in your area. With those, you can guarantee you're getting the cheapest rate. And who knows, the best company for you might not be GEICO or Wolverine Mutual 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.