Co-operative vs. GEICO: Which Company is the Best Fit for You?

Quick Facts

• In general, Co-operative offers significantly more affordable premiums than GEICO
• Co-operative tends to be a much cheaper option for single people who will be the only person on the insurance policy
• GEICO may help you save more money -- they offer more discounts than Co-operative Insurance Companies

Co-operative or GEICO: Which Company has the Cheapest Car Insurance?

So, you're considering switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering hefty savings. But exactly how much can you save by switching?

You might have narrowed it down to Co-operative or GEICO as potential options, but which company will offer you more affordable rates?

Looking at the national average rates for both carriers, Co-operative is around $42 a month less expensive than GEICO.

Even so, that doesn't mean Co-operative will necessarily be cheaper than GEICO for every single driver. After all, car insurance companies can offer drastically different rates to every driver depending on rating factors like your age, your driving record, your credit score, or even where you call home (among other things), so premiums will change quite a bit from person to person.

So, if you want to find out which of Co-operative or GEICO is really the best for you, keep reading to see average prices for each company broken down by a range of different rate factors.

Co-operative vs. GEICO: Average Car Insurance Rates by State

Co-operative and GEICO only compete against each other in Vermont, where GEICO offers the cheaper average rates. GEICO drivers tend to pay about $30 per month less on average compared to drivers who use Co-operative for their auto insurance.

There's a lot more that goes into your car insurance bill than just where you live. Continue reading to see how other variables 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. Normally, that's because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But that doesn't mean teen drivers can't still save money on their car insurance. Just look at the table above -- where 18-year-old drivers who have Co-operative for their insurance pay over 20% less than those who use GEICO.

That being said, with both carriers, you'll see your prices drop significantly once you turn 25. For example, average premiums for Co-operative policyholders lower about $150 and GEICO's rates decrease more than $200 over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll typically enjoy the lowest auto insurance premiums you can find. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for car insurance.

When looking at Co-operative and GEICO specifically, which carrier is best for retired drivers? Co-operative gets the edge, with rates for drivers 65 and older $41 less expensive than the national average for GEICO.

Which is the Best Company for Married Drivers?

Married drivers tend to get slightly more affordable insurance premiums than single drivers. That's because policies for married policyholders usually cover more than one vehicle, which several companies will give you a discount for.

For single policyholders, the difference in average rates between these two carriers is significant, with Co-operative prices coming in at a quarter less than GEICO's. The advantage is also clear for married couples - Co-operative offers the most affordable average rates.

Co-operative or GEICO: Average Rates by Gender

Because women are less likely to get speeding tickets and get into collisions, they run a lower risk of filing a claim with insurance. So, insurance companies will tend to charge women less than men.

On average, men see prices around 6% a month higher with Co-operative, and about 4% more with GEICO.

When it comes to the cheapest premiums for each gender, Co-operative comes out on top for both men and women. On average, male drivers save about $41 per month and women save around $42 with Co-operative compared to the average GEICO policyholder.

Co-operative 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.

For most people, auto insurance can be pretty complicated. There are so many different terms and coverages that it can make it pretty confusing to find the right policy for you.

However, most policies that drivers look at fall into two categories -- liability coverage (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which includes two additional coverages -- collision and comprehensive -- alongside what you get with a liability policy).

Looking specifically at state minimum liability limits, Co-operative has the significant edge, with average monthly rates coming in at $65. If you want a full coverage policy with the same state minimum limits, Co-operative again has the edge, with policies averaging about $222 a month to GEICO's $269.

Is Co-operative or GEICO Better for Drivers with Spotty Records?

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

It's no secret secret that at-fault collisions and speeding tickets lead to higher prices, but which company -- Co-operative or GEICO -- has the lowest premiums for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders with Co-operative insurance policies don't report seeing their rates increase after getting a ticket, but GEICO policyholders can expect to see their monthly bill increase by around $35.

But Co-operative tends to offer the best prices for both drivers who have clean records and those with a recent speeding ticket, offering prices that are 9% and 30% cheaper, respectively, compared to GEICO.

Which Company is Best for Drivers After an Accident?

Co-operative drivers who get in an accident can expect to see their premiums increase by $35, while those who have insurance through GEICO will see about a $85 increase.

At the end of the day, drivers who use Co-operative end up with the cheaper prices after an accident, with average prices coming in at $140 compared to GEICO's $200.

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 ticket or even a collision. GEICO drivers usually see a 58% raise in their auto insurance rates after a DUI charge, while Co-operative will generally increase premiums by around 53%.

How does Credit Score Impact Co-operative and GEICO Rates?

Did you know many insurance carriers take your credit score into account when determining prices? This isn't true for everyone (for example, Hawaii and Massachusetts are two states that ban the practice entirely), but it will come into play for a lot of policyholders.

The reasoning car insurance companies use is that drivers with bad credit will be less likely to pay their bills on time; so usually, they'll be asked to pay more, while those with good credit will be rewarded with more affordable rates.

So, which carrier offers the best premiums for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Co-operative or GEICO Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a large impact on your monthly auto insurance cost. That's because the fewer miles you drive, the less likely you are to be in an accident and file an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Co-operative charges. However, there's a small difference in monthly rates for GEICO, with drivers who put 6,000 miles on their car annually paying about $8 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Co-operative is the less expensive company.

Co-operative or GEICO: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your vehicle can have a considerable impact on your monthly insurance payment. Normally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders since there are a lot fewer cars on the roads where they live.

When comparing these two carriers side-by-side, Co-operative typically comes out as the most affordable option for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Co-operative Insurance Companies's average premiums are around 35% less than GEICO. People who live in suburban areas pay about 19% less with Co-operative compared to GEICO. Those in rural areas can expect to save around 9% with Co-operative compared to GEICO.

Co-operative vs. GEICO Discounts

No matter 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 you can. That's where auto insurance discounts comes into play.

The difficult part is finding all of the discounts you're eligible for, since it can feel sometimes like every company has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and looked at all of the different discounts Co-operative and GEICO offer their customers so that you can easily see which company offers the most discounts and, therefore, the largest savings.

GEICO knocks Co-operative out of the park when it comes to the sheer number of discounts available, offering 13 more discounts than Co-operative.

Both companies offer several of the same discounts -- like anti-theft discounts, discounts for getting driver training, DRL discounts, and discounts for insuring multiple cars with the same company -- but GEICO also offers discounts for commercial drivers license, COVID-19 relief, deployed driver, and more.

On the other hand, Co-operative has a few proprietary discounts of their own for things like hybrid vehicle discounts, non-smoker discounts, renewal discounts, and more.

Final Thoughts: Is Co-operative or GEICO Best for You?

So, we've broken down the average prices for many of the factors car insurance carriers look at, and walked through the different discounts each carrier offers, too. But, at the end of the day, which company is the best fit for you?

Co-operative might be best for you if....

• You have a speeding ticket on your driving record.
• You're of retirement age and want to take advantage of lower premiums.

GEICO might be best for you if...

• You're planning on moving to another state soon -- undefined only offers policies to residents.
• You're looking for discounts -- GEICO has the most.

Hopefully, this guide has ben a valuable resource as you compare Co-operative and GEICO. We also hope we've given you the information you need to make the best decision when it comes to your insurance.

At the end of the day, the best way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from a handful of companies, not just Co-operative and GEICO. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best insurance carriers in your area, all in just a few minutes.

Co-operative vs. GEICO FAQs

Is Co-operative or GEICO cheaper?

Co-operative is the cheaper of the two companies when looking at national average rates, with policies averaging $143 per month with Co-operative and $185 for GEICO. However, that doesn't mean Co-operative will be the cheapest carrier for every driver, since there are a bunch of different variables that are considered when it comes to your auto insurance cost.

Who is better, Co-operative or GEICO?

Sadly, the only answer we can give you is "it depends.". Neither company is necessarily "better" for everyone -- it all depends on the makeup of your unique car insurance profile.

Why do Co-operative and GEICO offer me different rates?

Auto insurance carriers use lots of different factors when calculating the premiums they charge. Things like where you live, age, where you call home, gender, and sometimes even things like your credit score can all be used. Both Co-operative and GEICO calculate prices using different formulas, so it's likely they'll offer different rates. The best way to determine which carrier is the most affordable for you is by comparing personalized quotes from a variety of different companies.

How do I know if Co-operative or GEICO 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, sites like Compare.com make it easy for you to do just that. Just enter your information once and you'll get quotes from dozens of your local top car insurance companies for free. That way, you can guarantee you're getting the lowest rate. And maybe you'll find that the best carrier for you isn't Co-operative 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.