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

Quick Facts

• In general, GEICO offers significantly cheaper prices than Chubb
• GEICO has more affordable premiums for policyholders who have a short commute
• GEICO offers less expensive average rates for policyholders who live in rural neighborhoods

Chubb or GEICO: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. With so many ads from all sorts of companies offering huge savings, you're probably wondering exactly how much you might be able to save.

You might have narrowed it down to Chubb or GEICO as potential options, but which one will offer you cheaper premiums?

As you can see, Chubb has average rates that are around 35% a month more expensive than those from GEICO when looking at the national average rates for insurance.

However, that doesn't mean GEICO will necessarily be less expensive than Chubb for each driver. Car insurance carriers use a ton of complex algorithms to determine prices, so depending on where you live or how good your credit score is (among a lot of other factors), you could see wildly different premiums from the ones above.

Wanting to know if Chubb or GEICO is really the right carrier for you? Keep on reading to see how average rates can change based on all of the factors we've mentioned above.

Chubb vs. GEICO: Average Car Insurance Rates by State

Chubb and GEICO compete against each other in seven states, with GEICO offering more affordable prices to the average driver in all of them. Wisconsin has the most noticable difference, where GEICO premiums are $361 cheaper than insurance prices at Chubb.

That being said, there are plenty of other factors that go into your auto insurance cost than just where you call home. Continue reading to see how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for car insurance compared to older drivers. That's usually because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

Even so, that doesn't mean that teen drivers have to just accept sky-high auto insurance rates. Just look at the table above -- where 18-year-old drivers who have GEICO for their insurance pay over 40% less than those who use Chubb.

But both companies will offer you dramatically lower prices once you turn 25. GEICO offers the steepest reduction, with 25-year-olds paying less than half what 18-year-old drivers are charged. Chubb's average rates lower almost 55% during that same period.

Which is the Best Company for Retired Drivers?

When it comes to auto insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest premiums out there.

When looking at Chubb and GEICO specifically, which company is best for retired drivers? GEICO gets the edge here, with average rates coming in at about $148 monthly compared to Chubb's $187.

Which is the Best Company for Married Drivers?

Single drivers tend to get offered slightly more expensive car insurance prices than married drivers. That's typically because married couples tend to own and insure multiple vehicles, which can often earn you a discount.

For those who are single, the difference in average premiums between these two carriers is significant, with GEICO prices coming in at a third less than Chubb's. The advantage for married policyholders with GEICO is also obvious, where drivers save around $75 per month.

Chubb or GEICO: Average Rates by Gender

Men are statistically more likely than women to cause a collision and get into accidents. That means when it comes to insurance men will generally end up paying a little more.

Usually, men see premiums about 4% a month higher with Chubb, but with GEICO, the difference is closer to 4% per month.

When it comes to the most affordable rates for each gender, GEICO comes out as the cheapest option for both genders, with average prices 36% less for men and 36% cheaper for women.

Chubb vs. 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.

It's no secret that auto insurance can be pretty complicated. There are a range of different coverages that account for multiple different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

That being said, most policies that drivers look at fall into two categories -- liability coverage (which provides property damage and bodily injury coverage for other drivers if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to what you get with liability coverage).

Looking specifically at state minimum limits for liability insurance, GEICO has the significant edge, with average monthly premiums coming in at $101. If you want a full coverage policy with the same state minimum limits, GEICO again has the edge, with policies averaging around $269 a month to Chubb's $412.

Is Chubb or GEICO Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their insurance. But that's not to say you can't save money if you don't have the best driving record, either.

You'll probably end up paying more with speeding tickets and at-fault collisions on your record, but which of these two companies offers the lowest rates to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Chubb for their car insurance can usually expect their monthly bill to go up about 15% after getting a speeding ticket. GEICO policyholders can expect a bit more drastic of an increase of around 23%.

However, GEICO tends to offer the best prices for drivers both with a ticket and with a clean record -- their rates are around 48% more affordable for drivers with clean records and 43% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through Chubb can expect to see about an $67 -- or around 23% -- rise in their car insurance premiums. Drivers who use GEICO for their auto insurance will see a monthly bill about $85 (or 43%) more expensive after reporting a collision to their car insurance carrier.

At the end of the day, the more affordable rates come from GEICO, with average prices coming in at $200 compared to Chubb's $290.

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 an accident. For example, Chubb increases average rates by more than $150 per month -- that's nearly a 45% increase.

How does Credit Score Impact Chubb and GEICO Rates?

Did you know many insurance carriers take your credit score into account when determining premiums? This isn't true for everyone (Massachusetts, for example, has banned the use of credit score as a car insurance factor) but it will come into play for quite a few drivers.

Auto insurance companies argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, policyholders with bad credit will often be forced to pay more.

Looking specifically at Chubb and GEICO, which carrier has the most affordable 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 Chubb or GEICO Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a large impact on how much insurance carriers will charge for coverage. Normally, the more milage you put on your vehicle each year, the more you can expect to pay for auto insurance.

GEICO tends to be the cheaper option for both remote workers and those taking short commutes. GEICO's average rates for drivers with 6,000 annual miles come in around $105 less expensive than Chubb. Those who drive 12,000 miles every year can expect to pay about $107 less with GEICO over Chubb.

Chubb or GEICO: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can have a pretty big impact on your monthly car insurance payment. Typically, those who live in rural areas will pay less than policyholders in urban areas since there are a lot fewer cars on the road where they live, which reduces the chances of an accident.

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

Those in rural areas can expect to save around $93 with GEICO compared to Chubb. People who live in suburban areas pay about $75 less with GEICO compared to Chubb. For drivers in urban ZIP codes, GEICO's average rates are around $149 less than Chubb.

Chubb vs. GEICO Discounts

No matter why you might be in the market for a new insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by taking advantage of as many auto insurance discounts as possible.

The challenging part is finding all of the discounts you qualify for, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Chubb and GEICO so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.

GEICO blows Chubb away when it comes to the sheer amount of discounts available, offering 28 different discounts to Chubb's 15.

A couple of those are overlapping for things like anti-theft discounts, distant student discounts, discounts for getting driver training, and mature driver discounts. GEICO also offers discounts for commercial drivers license, COVID-19 relief, deployed driver, and more.

On the other hand, Chubb has a few proprietary discounts of their own for things like driver-vehicle combination discounts, occasional operator discounts, renewal discounts, and more.

Final Thoughts: Is Chubb or GEICO Best for You?

You've seen the role certain factors have on your car insurance and the different discounts companies offer. That's all well and good, but at the end of the day, which company is the best carrier for you and your specific needs?

GEICO might be best for you if....

• Your driving record includes a DUI charge.
• You care about discounts (GEICO offers the most).
• You drive often but have a short commute.

Chubb might be best for you if...

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

Hopefully, this guide helps you get a better idea of the difference between Chubb and GEICO. We also hope we've given you the information you need to make the best decision when it comes to your auto insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on car insurance -- comparing quotes from several carriers, not just Chubb and GEICO. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get multiple free quotes from some of the best insurance companies in your area, all in just a few minutes.

Chubb vs. GEICO FAQs

Is Chubb or GEICO cheaper?

GEICO is the more affordable of the two carriers when looking at national average premiums, with policies averaging $185 a month with GEICO and $291 for Chubb. But that doesn't mean GEICO will be the lowest carrier for each driver, since there are a bunch of different variables that are considered when it comes to your car insurance bill.

Who is better, Chubb or GEICO?

Unfortunately, the answer truly is "it depends.". No one company is necessarily "better" for every policyholder -- it all depends on what your unique auto insurance profile looks like.

Why do Chubb and GEICO offer me different rates?

Insurance companies use a lot of different factors when calculating the prices they charge. Variables such as where your home is, gender, age, where you live, and sometimes even things like your credit score can all be used. Both Chubb and GEICO calculate premiums using different formulas, so it's likely they'll offer different rates. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from lots of different carriers.

How do I know if Chubb 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 multiple companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code and you'll get quotes from dozens of your local top insurance carriers for free. With those, you can guarantee you're getting the lowest premium. And maybe you'll find that the best carrier for you isn't Chubb or GEICO at all, but another you hadn't even thought of!

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.