GEICO vs. Progressive: Which Company Is Best for You?

GEICO and Progressive are multi-product insurance companies offering insurance policies for auto, home, motorcycle, business, and pet. Both insurers are available nationwide, including in the District of Columbia. Although similar in their insurance offerings, Progressive also has financial products, including car refinancing and personal loans.

The right insurance company can differ from driver to driver. Many factors affect insurance rates, including age, driving record, coverage choices, and vehicle type. We compared GEICO vs. Progressive based on various driver profiles, discount opportunities, and other features to help you decide which insurer might be best for you.

Key Takeaways

• In general, GEICO offers cheaper rates than Progressive.
• Although GEICO is typically cheaper, Progressive offers more car insurance discounts.
• Drivers with a DUI conviction may find more affordable rates with Progressive vs. GEICO.

GEICO vs. Progressive: Which Has Cheaper Car Insurance Rates?

Car insurance premiums can vary among multiple insurers for the same coverage, limits, and deductibles. Your driving record, age, location, credit score, and claims history are just a few factors that determine your car insurance cost.

GEICO’s average monthly cost for full-coverage auto insurance is $159, while Progressive’s average is $211. GEICO offers lower premiums of $68 monthly for liability only compared to Progressive’s $105 average monthly premium.

GEICO may be cheaper for young drivers and those with speeding tickets or accidents, while Progressive may be cheaper for high-risk drivers with a DUI.

Average car insurance rates by state

The state you live in also affects your auto insurance premium. The table below shows average car insurance premiums by state. GEICO has cheaper premiums than Progressive in most states.

Which Company Has Lower Rates for Young Drivers?

Young drivers don’t have as much driving experience and make riskier decisions behind the wheel. Their crash rate is almost four times that of drivers 20 and older, according to the Insurance Institute for Highway Safety (IIHS). Being a high-risk driver usually means you pay more for car insurance. Comparing companies like GEICO vs. Progressive can help you get the lowest rate for young drivers.

GEICO vs. Progressive: Quotes by driver age

When comparing rates by driver age, we found GEICO’s auto insurance policies are cheaper than Progressive’s. The following table shows the average quotes from both insurance companies for different age groups.

For teens, young drivers, and senior drivers, GEICO has lower premiums. This table is a good representation of insurance rate life cycles. While teens typically have the highest rates, costs begin to drop around age 25, then level off by 40. Prices can decrease or increase slightly at 65, depending on driving habits and the company.

Progressive vs. GEICO: Which Is Better for Drivers with Bad Records?

Drivers with clean driving records tend to get the best insurance rates. For example, if you get a ticket for speeding or a failure to stop, your premiums will usually rise. An increase can also occur after an at-fault accident or DUI. We compared GEICO’s and Progressive’s rates for speeding tickets, at-fault accidents, and DUIs below.

Rates for drivers with speeding tickets

Insurance companies view speeding as risky driving behavior, which usually triggers a rate increase. Speeding is typically a factor in about a third of all fatal accidents, according to the National Highway Traffic Safety Administration. The table below compares liability-only rates for drivers with a clean driving record and speeding tickets.

Rates for drivers with accidents

Causing an accident also signals risky driving habits. It can impact insurance prices more than a speeding ticket, as illustrated in the table below. Keep in mind, though, that your car insurance can go up after an accident even if you’re not at fault.

Rates for drivers with DUIs

A DUI is a severe driving infraction that significantly affects your insurance premiums, as shown in the table below.

How GEICO and Progressive Compare for Rates by Credit Score

How you manage your finances and whether you pay your bills on time affect your credit score. Your habits also affect your risk profile for insurance pricing, according to the Insurance Information Institute (Triple-I). While having an excellent credit score can lower your premium, having average or poor credit can increase it. Not all states allow insurers to consider credit when making rate decisions.

Which company is best for drivers with good credit?

For drivers with excellent or good credit, GEICO has the lowest premiums, at $101 and $114 per month, respectively.

Which company is best for drivers with average credit?

GEICO offers the cheapest premiums to drivers with average credit scores, at $125 per month.

Which company is best for drivers with bad credit?

Drivers with poor credit will find lower premiums for car insurance — $172 per month — with GEICO.

How GEICO and Progressive Compare for Discounts

Car insurance discounts allow drivers to qualify for cheaper auto insurance premiums. Most insurers allow policyholders to stack discounts together, which can increase your savings, based on your eligibility. Many discounts are available. Common discounts include paid-in-full, good driving, anti-theft, and good student discounts. Progressive has 15 available discounts, while GEICO has 14.

Which Company Has Better Pay-As-You-Go Options?

Pay-as-you-go or pay-per-mile insurance only charges you for the miles you drive plus a base rate. Companies offering pay-as-you-go insurance can differ in determining rates and how it affects your premium. Both GEICO and Progressive combine mileage and driving habits for rate determinations.

However, neither company has a true pay-per-mile program. Instead, both advertise usage-based discount programs for drivers with standard policies. Rather than paying a low base rate and getting charged an additional fee for the miles you drive, both GEICO and Progressive offer programs where you pay a standard per-month rate with discount opportunities if you drive fewer miles than average or practice safe driving habits.

Keep reading to find out how each program works.

Snapshot vs. DriveEasy

Progressive’s Snapshot usage-based program tracks miles driven and driving habits, like hard braking, fast acceleration, and using your phone while driving. Drivers  save an average of $47 when signing up and an additional $156 after completing the program, which usually takes six months. But around two in 10 drivers who complete the program will see a premium increase due to risky driving behaviors.

GEICO has a similar program called DriveEasy . It also tracks trips, miles driven, and driving habits. The program also has a crash detection feature, Crash Assist, that can make it easier to file a claim if it detects hard braking. Depending on driving behaviors, you could see a rate increase after completing the DriveEasy program.

Drivers who drive fewer miles and avoid late-night driving from midnight to 4 a.m. might benefit from the Progressive Snapshot program. If you avoid using your phone while driving, including responding to texts and taking calls, the GEICO DriveEasy program may benefit you.

GEICO vs. Progressive FAQs

Still have questions about how GEICO compares to Progressive? Here are the answers to some of the most commonly asked questions about these insurance companies.

Does the same company own GEICO and Progressive?

No, the same company doesn’t own GEICO and Progressive. GEICO is a subsidiary of Warren Buffet’s Berkshire Hathaway.  Progressive is a publicly traded company  owned by its shareholders and run by a board of directors.

What are the best car insurance companies?

Your age, driving record, and claims history are key factors in determining which companies are the best for car insurance. We compared insurance companies and found State Farm, The Hartford, Erie Insurance, Wawanesa, and Amica are among the best for these rating factors and customer service.

Does GEICO offer pay-per-mile car insurance?

GEICO does not offer a true pay-per-mile car insurance program. But it does have a discount program where you can earn discounts based on how much you drive. Download the DriveEasy program mobile app to participate in the program, which tracks driving habits and miles driven to determine rates.

Will telematics programs like Progressive Snapshot raise your insurance rates?

While not all telematics programs raise your insurance premiums, Progressive Snapshot can. According to Progressive’s website, roughly 20% of drivers will see an increase after completing the program.

Why is GEICO so cheap?

GEICO is so cheap because it offers multiple ways to save without sacrificing coverage or customer satisfaction. Its direct-to-consumer model allows GEICO to provide cheaper premiums than companies with local agents, like Allstate and State Farm.

Methodology:

Data scientists at Compare.com analyzed more than 50 million real-time auto insurance rates from more than 75 partner insurance providers in order to compile the quotes and statistics seen in this article. Compare.com’s auto insurance data includes coverage analysis and details on drivers’ vehicles, driving records, insurance histories, and demographic information. All of the quotes listed in this article have been gathered from a combination of real Compare.com quotes and external insurance rate data gathered in collaboration with Quadrant Information Services. Compare.com uses these observations to provide drivers with insight into how auto insurance companies determine their premiums.

Sources:

Insurance Information Institute. “Credit and insurance scores.” Accessed June 15, 2023.

Insurance Institute for Highway Safety. “Teenagers.” Accessed June 15, 2023.