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

Quick Facts

• Based on national averages for auto insurance, First Chicago offers more affordable prices than GEICO
• First Chicago offers more affordable rates for policyholders who have a clean driving record, free of collisions, tickets, or DUIs
• GEICO may help you save more money -- they offer more discounts than First Chicago Insurance

First Chicago or GEICO: Which Company has the Cheapest Car Insurance?

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

You've maybe even narrowed your search down to First Chicago or GEICO for your next policy, but which one has cheaper prices for insurance?

Looking at the national average rates for both carriers, GEICO has average rates that are around 16% a month more expensive than those from First Chicago.

But First Chicago may not be the lowest or best option for every driver out there. Auto insurance companies vary their rates depending on things like how old you are, where you live, how good your credit score is, how clean your driving record is, and all sorts of other factors, so premiums will vary quite a bit from person to person.

So, if you want to find out which of First Chicago or GEICO is really the best for you, keep reading to see average rates for each carrier broken down by a variety of different rate factors.

First Chicago vs. GEICO: Average Car Insurance Rates by State

First Chicago and GEICO only compete against each other in Illinois, where First Chicago offers the cheaper average prices. Undefined drivers tend to pay about undefined per month less on average compared to drivers who use undefined for their car insurance.

But there's more to 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 premiums. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for auto insurance compared to older drivers. It's 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 insurance rates. For example, 18-year-old drivers pay an average of 5% less a month by choosing First Chicago over GEICO.

That being said, both companies will offer you dramatically lower premiums once you turn 25. For example, average prices for First Chicago policyholders decrease about $200 and GEICO's premiums lower over $200 over that time.

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 most affordable rates you'll ever find.

When looking at First Chicago and GEICO specifically, which company is best for retired drivers? First Chicago gets the edge here, with average prices coming in at around $114 per month compared to GEICO's $148.

Which is the Best Company for Married Drivers?

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

For single policyholders, the difference in average premiums between these two companies is significant, with First Chicago prices coming in at about 10% less than GEICO's. For married policyholders, the advantage is clear again - First Chicago has the edge when it comes to average premiums.

First Chicago or GEICO: Average Rates by Gender

Men are statistically more likely than women to get into accidents and file an insurance claim, which means they'll generally end up paying more for insurance than women.

With First Chicago, men normally pay around $10 per month more than women, but with GEICO, the difference is closer to $8 a month.

When it comes to the lowest prices for each gender, First Chicago comes out on top for both men and women. On average, women save about $31 per month and men save about $27 with First Chicago compared to the average GEICO policyholder.

First Chicago 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, car insurance isn't the easiest topic to understand. There are so many different terms and coverages that it can make it pretty confusing to find the right policy for you.

However, the most common 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 typically refers to having collision and comprehensive coverages alongside what you get with a liability policy).

Looking specifically at state minimum limits for liability insurance, First Chicago has the significant edge, with average monthly rates coming in at $73. If you want a full coverage policy with the same state minimum limits, First Chicago again has the edge, with policies averaging around $240 a month to GEICO's $269.

Is First Chicago or GEICO Better for Drivers with Spotty Records?

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

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

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use First Chicago for their insurance can generally expect their monthly bill to go up about 24% after getting a speeding ticket. GEICO policyholders can expect a less drastic increase of around 23%.

That being said, First Chicago tends to offer the best prices for both drivers who have a recent ticket and those with clean records, offering premiums that are $6 and $6 less expensive, respectively, compared to GEICO.

Which Company is Best for Drivers After an Accident?

First Chicago drivers who get in an accident can expect to see their prices climb by over 25%, while those who have insurance through GEICO will see about a 45% increase.

At the end of the day, First Chicago offers the cheapest premiums for drivers with an at-fault collision on their records, with average rates coming in at $146 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 speeding ticket or even a collision. On average, GEICO will increase your premiums around 58% after a DUI, while First Chicago's average rates rise by more than 50%.

How does Credit Score Impact First Chicago and GEICO Rates?

In many cases, your credit score can be used as one of the variables to calculate your monthly auto insurance prices. This isn't true for everyone (for example, Michigan and Hawaii are two states that ban the practice entirely), but it might come into play for many policyholders.

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

Looking at First Chicago and GEICO specifically, which company has the best rates 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 First Chicago or GEICO Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a sizable impact on your monthly auto insurance payment. That's because the more milage you drive, the more 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 First Chicago charges. However, there's a small difference in monthly premiums for GEICO, with policyholders who drive 6,000 miles every year paying about $8 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, First Chicago is the cheaper carrier.

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

Where you call home can play a big role in how much you pay for car insurance. Typically, if you live in a rural area with fewer cars on the road, you'll pay a little less for insurance, while the opposite is true for people in urban areas.

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

Those in rural areas can expect to pay around $145 a month with First Chicago and $159 with GEICO. Drivers in suburban ZIP codes pay about $128 with First Chicago compared to GEICO's $185 monthly. In urban areas, First Chicago's average rates are around $196 while GEICO offers premiums about $211.

First Chicago 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 car insurance discounts as possible.

The challenging part is finding all of the discounts you qualify 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 compared all of the different discounts offered by First Chicago and GEICO so that you can find the carrier that has the most discounts and, therefore, the largest savings.

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

There are a couple discounts both companies offer, but GEICO also offers discounts for commercial drivers license, COVID-19 relief, deployed driver, and more.

On the other hand, First Chicago has a few proprietary discounts of their own like advance quote discounts and renewal discounts.

Final Thoughts: Is First Chicago or GEICO Best for You?

So, you've seen how different factors can affect your auto insurance prices. We've broken down the different discounts each carrier offers, too. But, when it comes down to it, which company is the right one for you, your vehicle, and your wallet?

First Chicago might be best for you if....

• You have a clean record.
• You live in an suburban area.
• Your neighborhood is in a rural area.

GEICO might be best for you if...

• You value the experience that comes with a large national insurance carrier.
• You're looking for discounts -- GEICO has the most.

Hopefully, this guide has ben a valuable resource as you compare First Chicago and GEICO and that you can now make a more informed decision when it comes to your car insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from a handful of carriers, not just First Chicago and GEICO. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of top insurance companies in your area, all in just a few minutes.

First Chicago vs. GEICO FAQs

Is First Chicago or GEICO cheaper?

First Chicago is the more affordable of the two carriers when looking at national average premiums, with policies averaging $156 per month with First Chicago and $185 for GEICO. Even so, that doesn't mean First Chicago will be the cheapest company for every driver, since there are many different variables that are considered when it comes to your auto insurance bill.

Who is better, First Chicago or GEICO?

Unfortunately, the real answer is "it depends.". No single carrier is "better" for each policyholder -- it all comes down to what your unique insurance profile looks like. For example, GEICO is less expensive for drivers with excellent credit, while First Chicago offers more affordable prices for drivers with a recent DUI.

Why do First Chicago and GEICO offer me different rates?

Car insurance companies use quite a few different factors when determining the rates they charge. Things like your driving record, where you live, gender, age, and sometimes even things like your credit score can all be taken into consideration. Both First Chicago and GEICO calculate prices differently, so it's likely they'll offer different rates. The best way to determine which company is the lowest for you is by comparing personalized quotes from several different carriers.

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

The only way to find the insurance carrier 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 ZIP code and you'll get quotes from dozens of your local top car insurance carriers for free. With those, you can guarantee you're getting the best price. And maybe you'll find that the best company for you isn't First Chicago 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.