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

Quick Facts

• Looking at the national averages for insurance, GEICO offers significantly more affordable premiums than Memberselect
• GEICO offers less expensive average prices for policyholders who live in urban areas
• Memberselect has cheaper rates in MN

GEICO or Memberselect: Which Company has the Cheapest Car Insurance?

So, you're considering switching to a new insurance policy. You've probably seen commercials and billboards from companies offering large savings, but exactly how much money can you save by switching?

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

Looking at the national average rates for both carriers, Memberselect has average rates that are around 30% a month more expensive than those from GEICO.

Even so, that doesn't mean GEICO will necessarily be less expensive than Memberselect for every single driver. Auto insurance companies vary their prices depending on things like how clean your driving record is, where you live, how good your credit score is, how old you are, and tons of other factors, so premiums will vary quite a bit from person to person.

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

GEICO vs. Memberselect: Average Car Insurance Rates by State

GEICO and Memberselect only compete against each other in Minnesota, where GEICO offers the cheaper average rates. GEICO drivers tend to pay about $53 per month less on average compared to drivers who use Memberselect for their insurance.

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

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance premiums of any group out there on the road. That's typically 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 that teen drivers have to just accept sky-high car insurance rates. Just look at the table above -- where 18-year-old drivers who have GEICO for their auto insurance pay 20% less than those who use Memberselect. It's worth noting that GEICO offers insurance in 50 different states compared to Memberselect's one, which can skew the average premiums a bit, but the difference here is still considerable.

However, both carriers will offer you dramatically lower prices once you turn 25. For example, average rates for GEICO policyholders drop about $200 and Memberselect's premiums reduce around $200 over that time.

Which is the Best Company for Retired Drivers?

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

So, which company offers the best premiums to retired drivers? GEICO gets the edge, with rates for drivers 65 and older $90 more affordable than the national average for Memberselect.

Which is the Best Company for Married Drivers?

Single drivers tend to get offered slightly more expensive auto insurance prices than married drivers. This usually boils down to married couples having multiple vehicles on their policy -- something lots of insurance companies will reward with discounts.

For those who are single, the difference in average rates between these two carriers is significant, with GEICO premiums coming in at a third less than Memberselect's. The advantage is also clear for married policyholders - GEICO offers the most affordable average prices.

GEICO or Memberselect: Average Rates by Gender

Men are statistically more likely than women to cause a collision and get into accidents, which means they'll generally end up paying more for auto insurance than women.

On average, men see rates about 4% a month higher with GEICO, but with Memberselect, the difference is closer to 4% per month.

Looking at overall affordability, GEICO comes out on top for both men and women. On average, women save about $88 a month and men save around $91 with GEICO compared to the average Memberselect policyholder.

GEICO vs. Memberselect: 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 car insurance can be a complicated subject for most people. There are multiple different coverages that account for a range of different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

That being said, the most common policies that drivers look at fall into two categories -- liability coverage (that covers bodily injury and property damage for other drivers and passengers if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to what you get with liability coverage).

Looking specifically at state minimum liability limits, GEICO has the significant edge, with average monthly prices coming in at $101. If you want a full coverage policy with the same state minimum limits, GEICO again has the edge, with policies averaging about $269 per month to Memberselect's $366.

Is GEICO or Memberselect Better for Drivers with Spotty Records?

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

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

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use GEICO for their car insurance can usually expect their monthly bill to go up around 23% after getting a speeding ticket. Memberselect policyholders can expect a bit more drastic of an increase of about 24%.

However, GEICO is normally the less expensive option for both drivers who have a recent ticket and those with clean records, offering prices that are 36% and 37% cheaper, respectively, compared to MemberSelect Insurance Company.

Which Company is Best for Drivers After an Accident?

GEICO drivers who get in a collision can expect to see their rates increase by $85, while those who have insurance through Memberselect will see around a $35 increase.

At the end of the day, the more affordable premiums come from GEICO, with average rates coming in at $200 compared to MemberSelect Insurance Company's $216.

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 an accident. Memberselect drivers usually see a 62% increase in their auto insurance premiums after a DUI charge, while GEICO will usually raise prices by about 58%.

GEICO has the overall cheapest rates 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 Memberselect, so the data may be skewed slightly.

How does Credit Score Impact GEICO and Memberselect Rates?

You may not realized it, but your credit score can come into play when carriers determine your monthly bill. Certain states and companies do not allow for credit score to be used as an auto insurance factor, but it might come into play for quite a few policyholders.

The reasoning insurance carriers 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.

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

Which Company is Best for Drivers with Good Credit?

If you have solid credit, GEICO will typically reward you the most. For drivers with "excellent" credit scores, GEICO comes in nearly 29.57 more affordable. Drivers with "good" credit scores normally save around 24% with GEICO compared to average prices from Memberselect.

Which Company is Best for Drivers with Bad Credit?

GEICO typically offers lower rates than Memberselect when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about 26% a month less with GEICO compared to Memberselect, and those with "poor" scores usually save an average of around 41% per month.

Is GEICO or Memberselect 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 substantial impact on your monthly car insurance payment? Typically, the more milage you put on your vehicle each year, the more you can expect to pay for insurance.

For both remote workers and those taking short commutes, GEICO offers less expensive premiums than Memberselect. Memberselect's average rates for drivers with 6,000 annual miles come in more than 30% more expensive than GEICO. Those who drive 12,000 miles annually can expect to pay just under 35% more with Memberselect over GEICO.

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

Where you live can play a considerable role in how much you pay for auto insurance. Normally, 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.

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

For drivers in urban ZIP codes, GEICO's average premiums are about $211 per month compared to Memberselect's $294. People in suburban areas pay a monthly rate of around $185 with GEICO compared to $302 with Memberselect. Those in rural areas can expect to pay about $159 monthly with GEICO and $228 with Memberselect.

GEICO vs. Memberselect 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, and the best way to do that is by utilizing as many auto insurance discounts as possible.

The challenging part is finding all of the discounts you can take advantage of, 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 GEICO and Memberselect offer their customers 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 Memberselect away when it comes to the sheer amount of discounts available, offering 15 more discounts than Memberselect.

A couple of those are overlapping for things like anti-theft discounts, distant student discounts, discounts for being a good driver, and multi-policy discounts. GEICO also offers discounts for ABS, commercial drivers license, COVID-19 relief, and more.

On the other hand, Memberselect has a few proprietary discounts of their own for things like AAA discounts, advance quote discounts, prior carrier discounts, and more.

Final Thoughts: Is GEICO or Memberselect Best for You?

So, we've broken down the average prices for many of the variables car insurance carriers 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, your vehicle, and your wallet?

GEICO might be best for you if....

• Your driving record includes a DUI charge.
• You want the most robust protection via a "full coverage" policy.
• You're married and plan to have both of your names on the vehicle's auto insurance policy.

Memberselect might be best for you if...

• You're looking for the best rates in MN.

Hopefully, this guide has ben a valuable resource as you compare GEICO and Memberselect. 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 sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from several companies, not just GEICO and Memberselect. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get free quotes from dozens of top insurance carriers in your area, all in just a few minutes.

GEICO vs. Memberselect FAQs

Is GEICO or Memberselect cheaper?

GEICO is the cheaper of the two companies when looking at national average rates, with policies averaging $185 a month with GEICO and $274 for Memberselect. Even so, that doesn't mean GEICO will be the cheapest carrier for everyone, since there are lots of different factors that are considered when it comes to your auto insurance cost.

Who is better, GEICO or Memberselect?

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

Why do GEICO and Memberselect offer me different rates?

Car insurance carriers use a lot of different variables when determining the premiums they charge. Factors such as your driving record, gender, where you park your car, age, and sometimes even things like your credit score can all come into play. Both GEICO and Memberselect calculate prices using different variables, so it's likely they'll offer different premiums. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from many different companies.

How do I know if GEICO or Memberselect 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 makes 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. With those, you can guarantee you're getting the most affordable premium. And maybe you'll find that the best carrier for you isn't GEICO or Memberselect 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.