Central Mutual vs. GEICO: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for auto insurance, GEICO offers significantly more affordable prices than Central Mutual
• GEICO offers more affordable premiums for people who are single and purchasing car insurance by yourself
• GEICO tends to be a much less expensive option for drivers who have less-than-stellar credit

Central Mutual vs. GEICO: 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 considerable discounts, but exactly how much money can you save by switching?

You've maybe even narrowed your search down to Central Mutual or GEICO for your next policy, but between the two, which company will offer you cheaper rates?

As you can see, Central Mutual is quite a bit more expensive than GEICO, with prices averaging $340 per month compared to just $185 with GEICO when looking at the national average rates for insurance.

Even so, GEICO may not be the most affordable or best option for every single driver out there. Car insurance companies vary their premiums depending on things like where you live, how good your credit score is, how old you are, how clean your driving record is, and a variety of other factors, so prices could vary drastically from person to person.

So, if you want to find out which of Central Mutual or GEICO is really the best for you, keep reading to see average premiums for each carrier broken down by a range of different rate factors.

Central Mutual or GEICO: Average Car Insurance Rates by State

Central Mutual and GEICO compete against each other in four states, with GEICO offering more affordable rates to the average driver in all of them. New York has the most noticable difference, where GEICO prices are over 70% cheaper than auto insurance premiums at Central Mutual.

That being said, there are plenty of other factors that go into your car insurance payment than just where you live. Keep reading to learn more.

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 cause collisions and other accidents that will result in an insurance claim.

But that doesn't mean that teen drivers have to just accept sky-high auto insurance rates. For example, 18-year-old drivers pay an average of more than $200 less a month by choosing GEICO over Central Mutual.

That being said, both carriers will offer you dramatically lower prices once you turn 25. For example, average rates for Central Mutual policyholders drop nearly 45% and GEICO's premiums reduce over 55% over that time.

Which is the Best Company for Retired Drivers?

When it comes to car insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest rates you'll ever see.

But who has the best prices for retired drivers between Central Mutual and GEICO? GEICO gets the edge, with premiums for drivers 65 and older more than 45% less expensive than the national average for Central Mutual.

Which is the Best Company for Married Drivers?

Married drivers tend to get slightly cheaper insurance rates than single policyholders. That's because policies for married policyholders usually cover more than one car, which a lot of companies will offer you a discount for.

When it comes to relationship status, GEICO is the clear winner for those who are single, with prices about $165 per month more affordable than Central Mutual, on average. The advantage is also clear for married couples - GEICO offers the lowest average premiums.

Central Mutual vs. GEICO: Average Rates by Gender

Men tend to pay more for auto insurance than women. This is because men are statistically more likely than women to get into accidents and file an insurance claim, which leads to increased risk for insurers and, therefore, higher prices.

Men typically pay almost $15 a month more than women with Central Mutual, while with GEICO, the difference is closer to $8 per month.

Looking at overall affordability, GEICO comes out as the cheapest option for both genders, with average rates $158 less for men and $152 cheaper for women.

Central Mutual or GEICO: 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.

Insurance can be a complicated subject for most people. Everyone needs car insurance, but there are so many different coverages and limits that it can be hard to find the right policy.

However, most policies that many drivers look at fall into two categories -- liability only (that covers property damage and bodily injury for other drivers and their passengers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- alongside liability).

If you're looking for state minimum limits for liability insurance, GEICO normally offers significantly less expensive premiums of $101 compared to Central Mutual's $174. When it comes to full coverage policies with similar limits, GEICO again has the edge, with policies around $250 a month cheaper than Central Mutual, on average.

Is Central Mutual or GEICO Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their auto insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that tickets and collisions lead to higher rates, but which company -- Central Mutual or GEICO -- has the most affordable premiums for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Central Mutual policyholders can expect their prices to go up an average of $84 per month if they get a ticket, while GEICO generally raises premiums about $35 a month, on average.

Even so, GEICO has less expensive prices for drivers in both categories. Drivers with a clean record can save around $127 per month and drivers with a speeding ticket can save about $176 a month with GEICO.

Which Company is Best for Drivers After an Accident?

Both carriers will increase rates pretty significantly if you get into an at-fault accident with GEICO increasing by $85. Central Mutual has a less extreme increase, but you can still expect to pay just under $70 more than you were prior to your first collision.

Overall, the more affordable premiums come from GEICO, with monthly rates averaging $200 compared to Central Mutual Insurance's $311.

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 car insurance bill -- usually a lot more than a collision or ticket. Central Mutual drivers usually see a 50% increase in their auto insurance prices after a DUI charge, while GEICO will typically climb rates by around 58%.

How does Credit Score Impact Central Mutual and GEICO Rates?

In many cases, your credit score can come into play when companies calculate your monthly bill. This isn't always the case (California, for example, has banned the use of credit score as a rating factor) but it will come into play for quite a few drivers.

Insurance carriers argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, policyholders with good credit will often be rewarded with cheaper premiums.

Looking specifically at Central Mutual and GEICO, which one has the lowest prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Central Mutual or GEICO Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a substantial impact on your monthly rates. Normally, the more miles you drive, the more you can expect to pay for coverage.

For both drivers who put 6,000 miles on their vehicles annually, as well as those who average twice that figure, GEICO offers less expensive prices than Central Mutual. GEICO's average premiums for drivers with 6,000 annual miles come in over 45% more affordable than Central Mutual. Those who drive 12,000 miles yearly can expect to pay more than 45% less with GEICO over Central Mutual.

Central Mutual vs. GEICO: 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 large impact as well. Usually, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

GEICO tends to offer the most affordable premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For policyholders in urban ZIP codes, GEICO offers prices about $211 monthly compared to Central Mutual's $529. People who live in suburban ZIP codes can expect to pay around $185 per month for GEICO and $263 for Central Mutual. Lastly, those in rural areas tend to get the lowest premiums from both companies, with average monthly rates coming in at $159 and $228 for GEICO and Central Mutual respectively.

Central Mutual vs. GEICO Discounts

You want to save as much money as possible, right? The best way to do that is by utilizing as many car insurance discounts as you can.

But where do you even start? With what seems like a million different discounts out there, it may be challenging to find all the ones you're eligible for.

Below, we've compared all of the different discounts offered by Central Mutual and GEICO so that you can see which carrier can save you the most money each month.

GEICO knocks Central Mutual out of the park when it comes to the sheer number of discounts available, offering 28 different discounts to Central Mutual's 28.

There are a couple discounts both carriers offer, but GEICO also offers commercial drivers license discounts, COVID-19 relief discount, deployed driver discounts, and more that Central Mutual does not.

On the flip side, Central Mutual has a couple unique discounts of its own -- book transfer policy discounts, renewal discounts, teensmart discounts, and more.

Final Thoughts: Is Central Mutual or GEICO Best for You?

You've seen the effect certain factors have on your auto insurance and the different discounts companies offer. But, at the end of the day, which company is the right fit for you?

GEICO might be best for you if....

• You have an at-fault accident on your record.
• You're looking for discounts -- GEICO has the most.
• You have a short commute.

Central Mutual might be best for you if...

• You have a more unique driver profile than those we mentioned above.

We hope this guide helps you get a better idea of the difference between Central Mutual and GEICO and that you can now make a more informed decision when it comes to your car 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 Central Mutual and GEICO. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get multiple free quotes from some of the best car insurance companies in your area, all in just a few minutes.

Central Mutual vs. GEICO FAQs

Is Central Mutual or GEICO cheaper?

Looking just at the national average prices, GEICO is the less expensive of the two carriers, offering average rates of $185 a month compared to $340 for Central Mutual. But GEICO won't necessarily be the most affordable carrier for everyone, since there are a variety of different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Central Mutual or GEICO?

Sadly, the answer truly is "it depends.". No single company is "better" for each driver -- it all comes down to what your unique auto insurance profile looks like.

Why do Central Mutual and GEICO offer me different rates?

Insurance companies take a look at many different factors when calculating the premiums they charge drivers. Things like age, where you park your vehicle, gender, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both Central Mutual and GEICO use different formulas, so each one will most likely offer different rates. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from multiple different carriers.

How do I know if Central Mutual or GEICO is right for me?

The only way to find the car insurance company 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, Compare.com does all the hard work for you. Just enter your information once and you'll get free quotes from dozens of the best insurance carriers in your area. That way, you can guarantee you're getting the best rate. And who knows, the best carrier for you might not be Central Mutual or GEICO at all!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.