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

Quick Facts

• Based on national averages for insurance, GEICO offers cheaper premiums than Island
• GEICO tends to be a much more affordable option for drivers who have less-than-stellar credit
• Island offers less expensive average prices for drivers who have an at-fault accident on their record

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

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

You might have narrowed your search down to GEICO or Island as potential options, but which one has cheaper premiums for auto insurance?

Looking at nationwide averages, Island has average rates that are about 12% per month more expensive than those from GEICO.

That being said, GEICO may not be the cheapest or best option for each driver out there. Car insurance companies use a ton of complex algorithms to calculate rates, so depending on how old you are or how clean your driving record is (among a wide array of other factors), you could see wildly different premiums from the ones above.

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

GEICO or Island: Average Car Insurance Rates by State

GEICO and Island only compete against each other in Hawaii, where GEICO offers the cheaper average prices. For Hawaii residents, GEICO offers insurance for $103 monthly on average. Island's average rates come out to be over 70% more expensive, at $210 a month.

That being said, there's a lot more that goes into your auto insurance payment than just where you call home. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance premiums of any other group of drivers out there on the road. Typically, 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.

But that doesn't mean teen drivers can't still save money on their car insurance. As you can see above, teens who use Island save more than $150 a month compared to those who use GEICO. It's worth noting that GEICO offers insurance in 50 different states compared to Island's one, which can skew the average prices a bit, but the difference here is still considerable.

Even so, both carriers will drop rates by the time you turn 25. Island offers the steepest decrease, with 25-year-olds paying around 0% what 18-year-old drivers are charged. That being said, GEICO still has the lowest prices at $163 per month.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the most affordable car insurance premiums out there. After all, they've likely been driving for quite some time, which normally reduces their chances of accidents and other infractions that can increase prices.

But who has the best premiums for retired drivers between GEICO and Island? GEICO gets the edge, with rates for drivers 65 and older $62 less expensive than the national average for Island.

Which is the Best Company for Married Drivers?

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

When it comes to relationship status, the two companies are comparable for those who are single, with prices only differing about $2 per month, on average. But for married drivers, the advantage is clear - GEICO offers the cheapest average rates.

GEICO vs. Island: Average Rates by Gender

Did you know women usually pay less for insurance than men? This is because women are less likely to get into collisions and get speeding tickets, which decreases the chances of an insurance claim.

On average, men see prices around 4% a month higher with GEICO; and with Island, both genders end up paying the same monthly rate.

When it comes to the most affordable premiums for each gender, GEICO offers the lowest average rates for both men and women, with average premiums 10% less for men and 14% cheaper for women.

GEICO or Island: 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 pretty complicated. Everyone needs car insurance, but there are so many different terms and limits that it can be hard to find the right policy.

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

If you're looking for state minimum liability insurance, GEICO generally offers slightly less expensive prices of $101 compared to Island's $105. When it comes to full coverage policies with similar limits, GEICO again has the edge, with policies about $45 per month more affordable than Island, on average.

Is GEICO or Island Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their auto insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

Collisions and tickets will most likely raise your rates, but is GEICO or Island cheaper for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

GEICO policyholders can expect their premiums to go up an average of $35 a month if they get a ticket, while Island usually raises rates around $6 per month, on average.

However, Island tends to offer the best prices for drivers both with a speeding ticket and with a clean record -- their rates are around 39% more affordable for drivers with clean records and 49% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

GEICO drivers who get in a collision can expect to see their prices rise by just under 45%, while those who have insurance through Island will see about a 25% increase.

Overall, drivers who use Island end up with the cheaper prices after an accident, with monthly premiums averaging $93 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 an accident. For example, Island increases average rates by over $500 a month -- that's just under a 90% increase.

GEICO has the overall most affordable prices for drivers with a DUI on their records at $275 a month, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Island, so the data may be skewed slightly.

How does Credit Score Impact GEICO and Island Rates?

Did you know that many car insurance carriers take into account your credit score when calculating premiums? This isn't always the case (for example, Michigan and Massachusetts are two states that ban the practice entirely), but it will come into play for quite a few policyholders.

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

Looking at GEICO and Island specifically, which carrier has the best rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Normally, if you have fantastic credit, you can expect to be rewarded. Jumping from a "good" credit score to an "excellent" one will normally save GEICO customers around 20%. Because Island, doesn't have data available for credit scores, they most likely don't use credit to calculate your prices.

Which Company is Best for Drivers with Bad Credit?

Having bad credit typically means you'll also see higher rates with GEICO. For drivers with less-than-stellar credit, at GEICO, you may pay about 20% per month more if you have "poor" credit compared to those with "fair" scores. It's an even larger difference when compared to drivers with "good" or "excellent" scores. On the other hand, Island doesn't have data available for credit scores, which means drivers with bad credit could find better rates with Island over GEICO.

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

How much you drive can have a considerable impact on how much car insurance carriers will charge for coverage. Generally, the more miles you drive, 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 Island charges. However, there's a small difference in monthly premiums for GEICO, with policyholders who drive 6,000 miles each year paying around $8 less every month compared to those who drive 12,000 miles yearly. Still, GEICO is the less expensive option for drivers in both categories.

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

Where your home is can play a pretty big role in how much you pay for auto insurance. Normally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders due to the small number of vehicles that are on the roads in those areas.

GEICO tends to offer the cheapest rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Drivers in rural ZIP codes see the lowest premiums from both companies, but GEICO comes out on top with average rates about $159 monthly. GEICO also has more affordable average prices for policyholders in urban and suburban ZIP codes -- a $8 and $34 a month respective difference when compared to Island drivers in similar areas.

GEICO vs. Island 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.

The challenging part is finding all of the discounts you can take advantage of, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

In the table below, we've broken down all of the different discounts offered by both GEICO and Island so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

GEICO blows Island away when it comes to the sheer amount of discounts available, offering 28 different discounts to Island's seven.

There are a couple discounts both carriers offer, but GEICO also offers anti-theft discounts, commercial drivers license discounts, COVID-19 relief discount, and more that Island does not.

On the flip side, Island has a unique discount of its own -- a special customer discounts.

Final Thoughts: Is GEICO or Island Best for You?

So, you've seen how different factors can affect your car insurance rates. We've broken down the different discounts each company offers, too. But, at the end of the day, is GEICO or Island the right company for you, your vehicle, and your wallet?

GEICO might be best for you if....

• You're single and purchasing insurance by yourself.
• You live in an urban area.
• You drive fewer than 6,000 miles annually.

Island might be best for you if...

• You don't have any speeding tickets, DUIs, or at-fault accidents on your record.
• You have a speeding ticket on your driving record.
• You're buying auto insurance for a teen and looking for a wallet-friendly option.

We hope this guide helps you get a good idea of the differences between GEICO and Island 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 auto insurance -- comparing quotes from multiple companies, not just GEICO and Island. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP code below and get free quotes from dozens of the top car insurance carriers in your area, all in just a few minutes.

GEICO vs. Island FAQs

Is GEICO or Island cheaper?

Looking just at the national average premiums, GEICO is the cheaper of the two companies, offering average rates of $185 per month compared to $210 for Island. That being said, GEICO won't necessarily be the most affordable carrier for each driver, since there are a range of different variables that come into play when it comes to your auto insurance cost.

Who is better, GEICO or Island?

Unfortunately, the real answer is "it depends.". One company is not necessarily "better" for every driver -- it all depends on the makeup of your unique insurance profile. For example, Island offers more affordable prices for policyholders with an at-fault collision on their record, while GEICO is less expensive for drivers who have less-than-stellar credit scores.

Why do GEICO and Island offer me different rates?

Car insurance carriers take a look at many different factors when determining the rates they charge drivers. Things such as where you park your car, age, gender, where you live, and sometimes even things like your credit score can all be taken into consideration. Both GEICO and Island 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 many different companies.

How do I know if GEICO or Island 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 ZIP code and you'll get free quotes from dozens of the best auto insurance companies in your area. With those, you can guarantee you're getting the best premium. And who knows, the best carrier for you might not be GEICO or Island 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.