GEICO vs. Travelers: Which Company is Best for You?

Quick Facts

• Based on national averages for car insurance, Travelers offers slightly more affordable prices than GEICO
• GEICO tends to be a much cheaper option for drivers who have a speeding ticket on their driving record
• Travelers offers less expensive average rates for policyholders who live in suburban areas

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

Are you in the market for a new insurance policy? After all, you've seen ads from all sorts of companies offering big savings. But exactly how much can you save by switching?

You might have narrowed your search down to GEICO or Travelers as potential options, but which carrier will offer you more affordable premiums?

Looking at the national average rates for both carriers, GEICO is around $18 more a month than Travelers.

But Travelers may not be the lowest or best option for each driver out there. Auto insurance companies use all sorts of complex algorithms to determine rates, so depending on how clean your driving record is or how old you are (among a whole range of other factors), you could see wildly different prices from the ones above.

Luckily, we've broken down average premiums from both GEICO and Travelers by several different rate factors, so read on to find out which company is the best for you.

GEICO vs. Travelers: Average Car Insurance Rates by State

GEICO and Travelers compete against each other in 31 states, with Travelers offering less expensive prices to the average driver in all but seven of them. If you live in California, Massachusetts, Michigan, New Jersey, or Tennessee, GEICO is the cheaper of the two carriers when looking at the overall average rates, but Travelers is the cheaper option in most of the others.

But there's more to calculating car insurance prices than just where you live. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically pay a lot more for insurance than any other group of drivers out there on the road. It's because teen drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

However, that doesn't mean teen drivers can't still save money on their auto insurance. For example, 18-year-old drivers pay an average of over 4% less per month by choosing Travelers over GEICO.

Even so, with both companies, you'll see your premiums decrease significantly by the time you turn 25. For example, average rates for GEICO policyholders lower more than 55% and Travelers's premiums reduce over 60% over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the most affordable insurance rates you'll ever find. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for car insurance.

When looking at GEICO and Travelers specifically, which carrier is best for retired drivers? Travelers gets the edge, with premiums for drivers 65 and older $16 less expensive than the national average for GEICO.

Which is the Best Company for Married Drivers?

Did you know that auto insurance prices are usually more expensive for those who are single than they are for married couples? That's generally because married drivers tend to own and insure multiple vehicles, which can often earn you a discount.

For single policyholders, the difference in average rates between these two carriers is not very significant, with Travelers premiums coming in at about 10% less than GEICO's. The advantage for married policyholders is more obvious, where drivers who use Travelers save around $20 a month.

GEICO or Travelers: Average Rates by Gender

You may not know, but men usually pay more for car insurance than women do. That's because women are less likely to get speeding tickets and get into accidents, which lowers the chances of filing a claim with insurance.

On average, men see rates about 4% per month higher with GEICO, and around 6% more with Travelers.

Looking at overall affordability, Travelers offers the cheapest average prices for both men and women. On average, women save about $20 a month and men save about $17 with Travelers compared to the average GEICO policyholder.

GEICO vs. Travelers: 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 insurance can be pretty complicated. There are so many different terms and limits that it can make it pretty confusing to find the right policy for you.

That being said, most policies that drivers look at fall into two categories -- liability coverage (which covers the other party's property damage and injuries if you cause a collision) and full coverage (which generally refers to having collision and comprehensive coverages alongside liability coverage).

When it comes to state minimum limits for liability insurance, GEICO has the edge, while Travelers offers the lowest average premiums for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $7 with GEICO, while full coverage comes out to be around $45 more affordable with Travelers.

Is GEICO or Travelers Better for Drivers with Spotty Records?

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

It's no secret secret that speeding tickets and collisions lead to higher prices, but which company -- GEICO or Travelers -- has the most affordable rates for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers who use GEICO for their insurance can normally expect their monthly bill to go up about 23% after getting a speeding ticket. Travelers policyholders can expect a less drastic increase of around 20%.

But GEICO tends to offer the best prices for both drivers who have clean records and those with a recent ticket, offering premiums that are 10% and 6% cheaper, respectively, compared to Travelers.

Which Company is Best for Drivers After an Accident?

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

At the end of the day, Travelers offers the cheapest rates for drivers with an at-fault collision on their records, with average premiums coming in at $173 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 speeding ticket when it comes to your car insurance bill. For example, GEICO increases average rates by more than $150 per month -- that's nearly a 60% increase.

But if you end up with a DUI charge and are looking for more affordable prices, Travelers tends to be more affordable for the average driver, with monthly premiums coming in at around $205 to GEICO's $275.

How does Credit Score Impact GEICO and Travelers Rates?

You may not have known, but your credit score can be used as one of the variables to calculate your monthly auto insurance premiums. This isn't true for everyone (for example, Michigan and Hawaii are two states that ban the practice entirely), but it does affect lots of drivers out there.

The reasoning insurance companies use is that policyholders with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper prices, while those with poor credit will typically be forced to pay more.

So, which carrier offers the best rates for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Travelers will generally reward you the most. For policyholders with "excellent" credit scores, Travelers comes in just under NaN cheaper. Drivers with "good" credit scores normally save about 13% with Travelers compared to average prices from GEICO.

Which Company is Best for Drivers with Bad Credit?

Travelers typically offers lower premiums than GEICO when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around 12% a month less with Travelers compared to GEICO, and those with "poor" scores usually save an average of about 9% a month.

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

The amount of time you spend behind the wheel of your car plays a big role in your monthly rates. That's because the more milage you put on your car each year, the more likely you are to be in a collision and file an insurance claim.

For both remote workers and those taking short commutes, Travelers tends to be the less expensive option. Travelers's average premiums for drivers with 6,000 annual miles come in nearly 10% more affordable than GEICO. Those who drive 12,000 miles every year can expect to pay more than 10% less with Travelers over GEICO.

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

Where you live can play a big role in how much you pay for car insurance. Typically, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders since there are a lot more vehicles on the roads where they live.

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

Those in rural areas can expect to save around $23 with Travelers compared to GEICO. People who live in suburban areas pay about $25 less with Travelers compared to GEICO. For drivers in urban ZIP codes, Travelers's average premiums are around $7 less than GEICO.

GEICO vs. Travelers Discounts

You want to save as much money as you can, right? The best way to do that is by utilizing as many auto insurance discounts as possible.

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

Luckily, we did the hard work for you and broke down all of the different discounts offered by both GEICO and Travelers so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Looking at the total number of discounts, GEICO has advantage when it comes to total number of discounts. Travelers offers a grand total of 25 discounts, while GEICO has 28.

A couple of those are overlapping for things like anti-theft discounts, discounts for being a defensive driver, distant student discounts, and EFT discounts. GEICO also offers discounts for commercial drivers license, deployed driver, employee discount, and more.

On the other hand, Travelers has a few proprietary discounts of their own for things like advance quote discounts, alternative fuel discounts, continuous insurance discounts, and more.

Final Thoughts: Is GEICO or Travelers Best for You?

So, we've broken down the average prices for many of the factors car insurance carriers look at, and we've shown you all the discounts each company offers. That's all well and good, but at the end of the day, is GEICO or Travelers the best one for you and your specific needs?

Travelers might be best for you if....

• Your credit is below-average.
• You have above-average credit.
• You have a short commute.

GEICO might be best for you if...

• You have a speeding ticket on your driving record.
• You're looking for the carrier with the most discounts.
• You're looking for the best rates on liability only coverage.

Hopefully, this guide helps you get a good idea of the differences between GEICO and Travelers and that it aids in making a more informed decision about your 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 companies, not just GEICO and Travelers. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get multiple quotes from some of the best insurance carriers in your area, all for free.

GEICO vs. Travelers FAQs

Is GEICO or Travelers cheaper?

Travelers is the less expensive of the two companies when looking at national average premiums, with policies averaging $167 per month with Travelers and $185 for GEICO. That being said, that doesn't mean Travelers will be the most affordable company for each driver, since there are a bunch of different variables (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, GEICO or Travelers?

Unfortunately, the real answer is "it depends.". One carrier is not "better" for everyone -- it all depends on what your unique car insurance profile looks like.

Why do GEICO and Travelers offer me different rates?

Insurance carriers use a lot of different factors when determining the rates they charge. Variables like where your home is, gender, age, where you park your car, and sometimes even things like your credit score can all be taken into consideration. Both GEICO and Travelers calculate prices using different factors, so it's likely they'll offer different premiums. The best way to determine which company is the lowest for you is by comparing personalized quotes from many different companies.

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

The only way to find the auto insurance carrier 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 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 companies for free. That way, you can guarantee you're getting the best premium. And maybe you'll find that the best company for you isn't GEICO or Travelers 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.