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

Quick Facts

• In general, Erie offers more affordable prices than GEICO
• Erie has less expensive rates for couples purchasing insurance together
• GEICO offers more affordable prices for policyholders who have a clean record

Erie 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 big discounts, but exactly how much money can you save by switching?

You might have narrowed your search down to Erie or GEICO as potential options, but between the two, which carrier will save you the most?

Looking at the national average rates for both companies, Erie has average rates that are about 17% per month cheaper than those from GEICO.

That being said, Erie may not be the lowest or best option for every driver out there. Car insurance carriers use tons of complex algorithms to calculate premiums, so depending on where you live or how clean your driving record is (among a variety of other factors), you could see wildly different rates from the ones above.

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

Erie or GEICO: Average Car Insurance Rates by State

Erie and GEICO compete against each other in 11 states, with Erie offering less expensive rates to the average driver in all of them. If you live in, undefined is the more affordable of the two companies when looking at the overall average premiums, but GEICO is the cheaper option in most of the others.

But there's more to auto insurance than just the state you live in. As we mentioned above, there's a lot of things that go into how car insurance carriers determine your prices. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance rates of any group on the road. It's because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

However, 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 Erie for their auto insurance pay nearly $55 less than those who use GEICO.

But both companies will offer you dramatically lower premiums by the time drivers turn 25. For example, average rates for Erie policyholders reduce more than $150 and GEICO's premiums drop around $200 over that time.

Which is the Best Company for Retired Drivers?

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

So, which carrier offers the best rates to retired drivers? Erie gets the edge here, with average premiums coming in at about $116 a month compared to GEICO's $148.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance prices tend to be cheaper for married drivers than they are for single drivers. This usually boils down to married couples having more than one car on their policy -- something a lot of car insurance carriers will reward with discounts.

When it comes to relationship status, Erie is the clear winner for those who are single, with rates around $32 a month less expensive than GEICO, on average. The advantage for married policyholders with Erie is also obvious, where drivers save almost $35 per month.

Erie vs. GEICO: Average Rates by Gender

You may not know, but insurance is typically cheaper for women than it is for men. This is because women are less likely to get speeding tickets and get into collisions, which decreases the chances of an insurance claim.

With Erie, women normally pay over $10 a month less than men, and about $8 less with GEICO.

Looking at overall affordability, Erie comes out as the cheapest option for both genders. On average, women save about $34 per month and men save around $31 with Erie compared to the average GEICO policyholder.

Erie 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 variety of different coverages that account for several different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

Even so, most policies that many drivers look at fall into two categories -- liability only (that covers bodily injury and property damage for other drivers and their passengers if you cause a collision) and full coverage (which usually refers to having comprehensive and collision coverages in addition to what you get with liability).

If you're looking for state minimum limits for liability insurance, Erie generally offers slightly cheaper premiums of $91 compared to GEICO's $101. When it comes to full coverage policies with similar limits, Erie again has the edge, with policies about $55 a month more affordable than GEICO, on average.

Is Erie or GEICO Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto insurance companies offering great prices for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

Accidents and tickets will most likely raise your premiums, but is Erie or GEICO less expensive for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Erie policyholders can expect their prices to go up an average of $18 per month if they get a ticket, while GEICO typically raises rates around $35 a month, on average.

If you have a clean record, GEICO tends to offer the best premiums at about 3% cheaper, while Erie has the edge for drivers with a speeding ticket.

Which Company is Best for Drivers After an Accident?

Erie drivers who get in an accident can expect to see their rates increase by just under 25%, while those who have insurance through GEICO will see around a 45% increase.

Overall, the more affordable prices come from Erie, with monthly rates averaging $157 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 insurance bill. GEICO drivers usually see a 58% climb in their auto insurance premiums after a DUI charge, while Erie will generally increase prices by about 40%.

How does Credit Score Impact Erie and GEICO Rates?

You may not have known, but your credit score can be used as one of the factors to calculate your monthly insurance premiums. Certain states and carriers do not allow for credit score to be used as a rating factor, but it does affect quite a few policyholders out there.

Car insurance companies argue that those with good credit scores are more likely to pay their bills on time each month, which lowers the risk involved on their end, while the opposite is true for those with bad credit.

Looking at Erie and GEICO specifically, which one has the lowest rates 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 Erie or GEICO Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a sizable impact on your monthly insurance cost? That's because the fewer miles you drive, the less likely you are to get into a collision and cause an insurance claim.

For both drivers who put 6,000 miles on their vehicles annually, as well as those who average twice that figure, Erie tends to be the cheaper option. Erie's average prices for drivers with 6,000 annual miles come in around $34 more affordable than GEICO. Those who drive 12,000 miles every year can expect to pay about $31 less with Erie over GEICO.

Erie vs. GEICO: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your vehicle can play a pretty big role in how much you pay for auto insurance. Normally, those who live in rural areas will pay less than policyholders in urban areas because there are a lot fewer cars on the road in those areas, which decreases the chances of an accident.

When comparing these two carriers side-by-side, Erie usually comes out as the most affordable option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Drivers in rural ZIP codes see the lowest rates from both companies, but Erie comes out on top with average premiums around $115 monthly. Erie also has less expensive average prices for policyholders in urban and suburban ZIP codes -- a $17 and $40 per month respective difference when compared to GEICO drivers in similar areas.

Erie vs. GEICO Discounts

Regardless of 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 possible. That's where insurance discounts comes into play.

But with what seems like a million different discounts out there, it can be hard to nail down the company that has the most discounts for your unique driver profile and to find all the discounts you're eligible for.

In the table below, we've compared all of the different discounts offered by Erie and GEICO so that you can see which carrier can save you the most money each month.

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

Both carriers offer quite a few of the same discounts -- like anti-theft discounts, discounts for being a defensive driver, distant student discounts, and discounts for being a good driver -- but GEICO also offers commercial drivers license discounts, deployed driver discounts, EFT discounts, and more that Erie does not.

On the flip side, Erie has a couple unique discounts of its own -- advance quote discounts, farm discounts, pay plan discounts, and more.

Final Thoughts: Is Erie or GEICO Best for You?

So, we've broken down the average premiums for many of the variables car insurance companies look at, and we've shown you all the discounts each carrier offers. That's all well and good, but when it comes down to it, which company is the right one for you and your specific needs?

Erie might be best for you if....

• You have an at-fault collision on your record.
• You live in a rural area.
• You drive fewer than 12,000 miles yearly.

GEICO might be best for you if...

• You have a clean record.
• You value the experience that comes with a large national auto insurance carrier.
• You care about discounts (GEICO offers the most).

We hope this guide helps you get a better idea of the difference between Erie and GEICO and that it aids in making a more informed decision about your 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 Erie and GEICO. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get multiple quotes from some of the best auto insurance companies in your area, all for free.

Erie vs. GEICO FAQs

Is Erie or GEICO cheaper?

Looking just at the national average prices, Erie is the cheaper of the two carriers, offering average rates of $153 a month compared to $185 for GEICO. That being said, Erie won't necessarily be the most affordable company for each policyholder, since there are a range of different factors (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, Erie or GEICO?

Unfortunately, the only answer we can give you is "it depends.". Neither carrier is necessarily "better" for every driver -- it all boils down to your unique car insurance profile. For example, Erie offers more affordable rates for policyholders with an at-fault accident on their record, while GEICO is less expensive for drivers who have less-than-stellar credit scores.

Why do Erie and GEICO offer me different rates?

Auto insurance companies take a look at many different variables when calculating the prices they charge drivers. Things like age, gender, your driving record, where your home is, and sometimes even things like your credit score can all be used. Both Erie and GEICO calculate premiums using different factors, so each one will most likely offer different rates. The only real way to see which company is the cheapest for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the insurance carrier 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 do all the hard work for you. Just enter your ZIP code and you'll get free quotes from dozens of the best car insurance carriers in your area. That way, you can guarantee you're getting the best rate. And who knows, the best company for you might not be Erie 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.