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

Quick Facts

• Based on national averages for auto insurance, Concord Group offers significantly more affordable premiums than GEICO
• Concord Group offers more affordable rates for policyholders who drive fewer than 6,000 miles every year
• GEICO may help you save more money -- they offer more discounts than Concord Group Insurance

Concord Group or 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 savings, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed it down to Concord Group or GEICO as your top options, but between the two, which carrier will offer you cheaper prices?

Looking at nationwide averages, GEICO has average rates that are around 60% a month more expensive than those from Concord Group.

That being said, Concord Group may not be the cheapest or best option for each driver out there. Insurance carriers use tons of complex algorithms to determine premiums, so depending on how clean your driving record is or how old you are (among a lot of other factors), you could see wildly different rates from the ones above.

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

Concord Group vs. GEICO: Average Car Insurance Rates by State

Concord Group and GEICO only compete against each other in three states, with Concord Group offering less expensive prices to the average driver in all of them. New Hampshire has the most noticable difference, where Concord Group rates are $50 cheaper than auto insurance premiums at GEICO.

There are plenty of other factors that go into your car insurance payment than just where you live. Keep reading to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically pay a lot more for insurance than any other group of drivers. That's generally because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

Even so, that doesn't mean teen drivers can't still save money on their auto insurance. For example, 18-year-old drivers pay an average of over 60% less per month by choosing Concord Group over GEICO.

However, both companies will drop rates by the time you turn 25. For example, average prices for Concord Group policyholders lower more than 50% and GEICO's premiums reduce over 55% over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the most affordable car insurance rates you'll ever find. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for insurance.

But who has the best premiums for retired drivers between Concord Group and GEICO? Concord Group gets the edge, with prices for drivers 65 and older $94 less expensive than the national average for GEICO.

Which is the Best Company for Married Drivers?

Did you know that auto insurance rates are usually more affordable for married couples than they are for those who are single? That's normally because married policyholders tend to own and insure more than one vehicle, which can often earn you a discount.

For single drivers, the difference in average premiums between these two carriers is significant, with Concord Group prices coming in at about half of GEICO's. The advantage for married drivers with Concord Group is also obvious, where drivers save more than 65% a month.

Concord Group or GEICO: Average Rates by Gender

Because women are less likely to get tickets and get into collisions, they run a lower risk of filing a claim with insurance. So, women tend to pay less for car insurance than men.

Women usually pay around $10 per month less than men with Concord Group, but with GEICO, the difference is closer to $8 a month.

Looking at overall affordability, Concord Group comes out as the lowest option for both genders. On average, women save about $112 per month and men save about $110 with Concord Group compared to the average GEICO policyholder.

Concord Group 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 a complicated subject for most people. There are so many different limits and coverages that it can make it pretty confusing to find the right policy for you.

But 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 -- in addition to liability coverage).

Looking specifically at state minimum liability insurance, Concord Group has the significant edge, with average monthly rates coming in at $47. If you want a full coverage policy with the same state minimum limits, Concord Group again has the edge, with policies averaging around $101 a month to GEICO's $269.

Is Concord Group or GEICO Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from insurance companies 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 speeding tickets and collisions lead to higher prices, but which company -- Concord Group or GEICO -- has the cheapest rates for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Concord Group for their car insurance can generally expect their monthly bill to go up about 14% after getting a speeding ticket. GEICO policyholders can expect a bit more drastic of an increase of around 23%.

However, Concord Group has less expensive premiums for drivers in both categories, offering rates that are 52% and 57% cheaper, respectively, compared to GEICO.

Which Company is Best for Drivers After an Accident?

Both carriers will raise prices pretty significantly if you get into an at-fault collision with GEICO raising by about 43%. Concord Group has a less extreme rise, but you can still expect to pay nearly 35% more than you were prior to your first accident.

At the end of the day, Concord Group offers the most affordable rates for drivers with an at-fault collision on their records, with average prices coming in at $82 compared to GEICO's $200.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your auto insurance bill. For example, GEICO increases average premiums by more than $150 per month -- that's just under a 60% increase.

How does Credit Score Impact Concord Group and GEICO Rates?

In many cases, your credit score can come into play when companies calculate your monthly bill. This isn't true for everyone (for example, Massachusetts and Hawaii are two states that ban the practice entirely), but it will come into play for many drivers.

The reasoning car insurance carriers use is that policyholders with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper prices, while those with poor credit will typically be forced to pay more.

So, which carrier offers the lowest rates for drivers 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 Concord Group 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 how much insurance companies will charge for coverage. Generally, the more milage you put on your car each year, the more you can expect to pay for auto insurance.

For both remote workers and those taking short commutes, Concord Group tends to be the more affordable option. Concord Group's average premiums for drivers with 6,000 annual miles come in nearly 60% less expensive than GEICO. Those who drive 12,000 miles annually can expect to pay more than 60% less with Concord Group over GEICO.

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

Where you park your vehicle can play a considerable role in how much you pay for car insurance. Normally, 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.

Concord Group tends to offer the cheapest premiums for drivers in all areas, regardless of if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Concord Group's average rates are around $81 while GEICO offers prices about $211. Drivers in suburban ZIP codes pay a monthly price of around $76 with Concord Group compared to $185 with GEICO. If you live in a rural area, you can expect to pay about $66 a month with Concord Group compared to GEICO's $159.

Concord Group vs. GEICO Discounts

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

But with what seems like a million different discounts out there, it can be difficult to nail down the carrier that has the most discounts for your unique driver profile and to find all the discounts you can take advantage of.

Luckily, we did the hard work for you and compared all of the different discounts offered by Concord Group and GEICO so that you can find the company that has the most discounts and, therefore, the largest savings.

GEICO knocks Concord Group out of the park when it comes to the sheer number of discounts available, offering 15 more discounts than Concord Group.

There are a couple discounts both carriers offer, but GEICO also offers discounts for commercial drivers license, deployed driver, distant student, and more.

On the other hand, Concord Group has a few proprietary discounts of their own for things like advance quote discounts, life policy discounts, new business discounts, and more.

Final Thoughts: Is Concord Group or GEICO Best for You?

So, you've seen how different variables can affect your insurance premiums. We've shown you all the discounts each company offers, too. That's all well and good, but when it comes down to it, is Concord Group or GEICO the best fit for you?

Concord Group might be best for you if....

• You have an at-fault collision on your record.
• Your credit score is high.
• You want to save money while purchasing car insurance for a teenager.

GEICO might be best for you if...

• You're thinking about moving to another state -- undefined is only available to residents.
• You're looking for discounts -- GEICO has the most.

Hopefully, this guide helps you get a good idea of the differences between Concord Group 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.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your insurance policy is to compare quotes from a handful of companies, not just Concord Group and GEICO. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

Concord Group vs. GEICO FAQs

Is Concord Group or GEICO cheaper?

Concord Group is the more affordable of the two companies when looking at national average rates, with policies averaging $74 a month with Concord Group and $185 for GEICO. But that doesn't mean Concord Group will be the lowest carrier for each driver, since there are many different factors that come into play when it comes to your auto insurance bill.

Who is better, Concord Group or GEICO?

Sadly, the answer truly is "it depends.". No one company is "better" for everyone -- it all depends on the makeup of your unique insurance profile.

Why do Concord Group and GEICO offer me different rates?

Car insurance carriers use a lot of different variables when determining the prices they charge. Things like age, gender, your driving record, where you live, and sometimes even things like your credit score can all be used. Both Concord Group and GEICO use different formulas, so it's likely they'll offer different premiums. The best way to determine which carrier is the most affordable for you is by comparing personalized quotes from a bunch of different companies.

How do I know if Concord Group 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 multiple carriers 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 quotes from dozens of your local top car insurance companies for free. With those, you can guarantee you're getting the best rate. And maybe you'll find that the best carrier for you isn't Concord Group 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.