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

Quick Facts

• Looking at the national averages for insurance, GEICO offers slightly more affordable rates than Cincinatti Financial
• Cincinatti Financial has cheaper prices for drivers who have received a ticket within the last few years
• GEICO tends to be a much less expensive option for drivers with a DUI charge on their record

Cincinatti Financial vs. GEICO: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? With so many ads from all sorts of companies offering large discounts, you're probably wondering exactly how much you might be able to save.

You might be considering Cincinatti Financial or GEICO as your top options, but between the two, which one will save you the most?

As you can see, GEICO is about $15 per month cheaper than Cincinatti Financial when looking at the national average rates for car insurance.

But that doesn't mean GEICO will necessarily be more affordable than Cincinatti Financial for every single driver. Auto insurance companies use a ton of complex algorithms to calculate rates, so depending on where you live or how clean your driving record is (among an array of other factors), you could see wildly different prices from the ones above.

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

Cincinatti Financial or GEICO: Average Car Insurance Rates by State

Cincinatti Financial and GEICO compete against each other in five states, with Cincinatti Financial offering less expensive prices to the average driver in all of them. Virginia has the most noticable difference, where GEICO rates are over 70% cheaper than car insurance premiums at Cincinatti Financial.

There's a lot more that goes into your insurance payment than just your home state. Read on to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance prices of any other group of drivers out there on the road. That's because young, inexperienced drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

That being said, that doesn't mean teen drivers can't still save money on their auto insurance. As you can see above, teens who use GEICO save nearly $150 a month compared to those who use Cincinatti Financial.

However, with both carriers, you'll see your premiums decrease significantly once you turn 25. For example, average rates for Cincinatti Financial policyholders lower more than 60% and GEICO's premiums reduce over 55% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age usually enjoy some of the lowest insurance prices you'll ever find. After all, they've likely been driving for quite some time, which normally decreases their chances of accidents and other infractions that can increase rates.

When looking at Cincinatti Financial and GEICO specifically, which company is best for retired drivers? Cincinatti Financial gets the edge, with premiums for drivers 65 and older $26 less expensive than the national average for GEICO.

Which is the Best Company for Married Drivers?

Single drivers tend to get offered slightly more expensive car insurance rates than married policyholders. This usually boils down to married couples having several cars on their policy -- something several insurance companies will reward with discounts.

When it comes to relationship status, GEICO is the clear winner for single policyholders, with prices around $34 per month more affordable than Cincinatti Financial, on average. But for married drivers, that advantage is much less clear - Cincinatti Financial offers the cheapest average rates.

Cincinatti Financial vs. GEICO: Average Rates by Gender

Women tend to pay less for auto insurance than men. This is because men are statistically more likely than women to get pulled over for speeding or get into an accident, which leads to increased risk for insurers and, therefore, higher premiums.

Women typically pay about 6% a month less than men with Cincinatti Financial, while with GEICO, the difference is closer to 4% per month.

When it comes to the most affordable prices for each gender, GEICO offers the lowest average rates for both men and women. On average, women save about $12 a month and men save around $17 with GEICO compared to the average Cincinatti Financial policyholder.

Cincinatti Financial 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.

Car insurance can be a complicated subject for most people. There are a bunch of 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 a collision.

Even so, the most common policies that many drivers look at fall into two categories -- liability only (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to liability).

If you're looking for state minimum liability insurance, GEICO generally offers slightly cheaper prices of $101 compared to Cincinatti Financial's $106. When it comes to full coverage policies with similar limits, GEICO again has the edge, with policies about $25 per month more affordable than Cincinatti Financial, on average.

Is Cincinatti Financial or GEICO 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 collisions lead to higher rates, but which carrier -- Cincinatti Financial or GEICO -- has the most affordable premiums for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Cincinatti Financial policyholders can expect their prices to go up an average of $21 a month if they get a ticket, while GEICO typically raises premiums around $35 per month, on average.

If you have a clean record, GEICO tends to offer the best rates at about 6% less expensive, while Cincinatti Financial has the edge for drivers with a speeding ticket.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through Cincinatti Financial can expect to see around an $92 -- or about 43% -- increase in their auto insurance prices. Drivers who use GEICO for their car insurance will see a monthly bill around $85 (or 43%) more expensive after reporting a collision to their insurance company.

Overall, the more affordable premiums come from GEICO, with monthly prices averaging $200 compared to Cincinatti Financial's $214.

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 -- normally a lot more than an accident or ticket. For example, Cincinatti Financial increases average rates by just under $200 a month -- that's over a 60% increase.

How does Credit Score Impact Cincinatti Financial and GEICO Rates?

In many cases, your credit score can come into play when companies determine your monthly bill. This isn't always the case (for example, Michigan and California are two states that ban the practice entirely), but it will come into play for quite a few drivers.

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 at Cincinatti Financial and GEICO specifically, which company has the best premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Cincinatti Financial or GEICO Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in your monthly car insurance bill. Usually, the more miles you put on your car each year, the more you can expect to pay for coverage.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Cincinatti Financial charges. However, there's a small difference in monthly rates for GEICO, with policyholders who drive the least paying about $8 less every month compared to those who drive 12,000 miles annually. Still, GEICO is the cheaper option for drivers in both categories.

Cincinatti Financial 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 substantial impact as well. Generally, if you live in a rural area with fewer cars on the road, you'll pay a little less for car insurance, while the opposite is true for people in urban areas.

GEICO boasts the lowest average prices for drivers in every type of area, no matter if it's urban, suburban, or rural.

For drivers in urban ZIP codes, GEICO offers rates around $211 per month compared to Cincinatti Financial's $220. People who live in suburban ZIP codes can expect to pay about $185 per month for GEICO and $197 for Cincinatti Financial. Lastly, those in rural areas tend to get the cheapest premiums from both companies, with average monthly rates coming in at $159 and $182 for GEICO and Cincinatti Financial respectively.

Cincinatti Financial vs. GEICO Discounts

You want to save as much money as possible, right? 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 difficult to find all the ones you're eligible for or to nail down the company that has the most discounts for your unique driver profile.

In the table below, we've broken down all of the different discounts offered by both Cincinatti Financial and GEICO so that you can find the carrier that has the most discounts and, therefore, the biggest savings.

GEICO blows Cincinatti Financial away when it comes to the sheer amount of discounts available, offering 18 more discounts than Cincinatti Financial.

Both carriers offer lots of the same discounts -- like COVID-19 relief discount, discounts for being a good student, and group discounts -- but GEICO also offers ABS discounts, commercial drivers license discounts, deployed driver discounts, and more that Cincinatti Financial does not.

On the flip side, Cincinatti Financial has a couple unique discounts of its own -- advance quote discounts, discounts for being a homeowner, and special large ded discounts.

Final Thoughts: Is Cincinatti Financial or GEICO Best for You?

You've seen the effect certain factors have on your auto insurance and the different discounts companies offer. But, when it comes down to it, is Cincinatti Financial or GEICO the right company for you, your vehicle, and your wallet?

GEICO might be best for you if....

• You have a clean driving record, free of accidents, tickets, or DUIs.
• You're worried about the impact your credit score will have on your prices.

Cincinatti Financial might be best for you if...

• You've been pulled over for speeding recently.
• You are over 65 years old and want to save some money on your insurance.
• You and your spouse are buying car insurance together.

We hope this guide helps you get a better idea of the difference between Cincinatti Financial and GEICO. 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 sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from multiple carriers, not just Cincinatti Financial and GEICO. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP code below and get free quotes from dozens of the top insurance companies in your area, all in just a few minutes.

Cincinatti Financial vs. GEICO FAQs

Is Cincinatti Financial or GEICO cheaper?

Looking just at the national average rates, GEICO is the less expensive of the two carriers, offering average rates of $185 a month compared to $200 for Cincinatti Financial. That being said, GEICO won't necessarily be the most affordable carrier for each driver, since there are lots of different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Cincinatti Financial or GEICO?

Unfortunately, the real answer is "it depends.". No single company is necessarily "better" for everyone -- it all depends on the makeup of your unique car insurance profile. For example, GEICO offers more affordable prices for single policyholders, while Cincinatti Financial is less expensive for drivers who have already retired.

Why do Cincinatti Financial and GEICO offer me different rates?

Insurance companies take a look at lots of different factors when calculating the premiums they charge drivers. Variables such as age, where you call home, your driving record, gender, and sometimes even things like your credit score can all be taken into consideration. Both Cincinatti Financial and GEICO use different formulas, so each one will most likely offer different prices. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from several different carriers.

How do I know if Cincinatti Financial or GEICO is right for me?

The only way to find the auto insurance company that's right for you is by getting quotes from several companies 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 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 Cincinatti Financial 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.