GEICO vs. Wolverine Mutual: Which Company is Best for You?

Quick Facts

• In general, GEICO offers cheaper prices than Wolverine Mutual
• GEICO offers more affordable premiums for policyholders who live in suburban areas
• Wolverine Mutual has less expensive rates for drivers who have an at-fault accident on their record

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

So, you're thinking about switching your auto insurance. After all, you've seen ads from all sorts of companies offering big discounts. But exactly how much can you save by switching?

You might have narrowed your search down to GEICO or Wolverine Mutual, but between the two, which company has more affordable prices for insurance?

Looking at nationwide averages, Wolverine Mutual is about $39 more per month than GEICO.

That being said, that doesn't mean GEICO will necessarily be cheaper than Wolverine Mutual for every driver. Car insurance companies use a variety of complex algorithms to calculate premiums, so depending on how old you are or how clean your driving record is (among a whole bunch of other factors), you could see wildly different rates from the ones above.

Luckily, we've broken down average premiums from both GEICO and Wolverine Mutual by lots of different rate factors, so read on to find out which carrier is the best for you.

GEICO or Wolverine Mutual: Average Car Insurance Rates by State

GEICO and Wolverine Mutual only compete against each other in Michigan, where Wolverine Mutual offers the cheaper average prices. For Michigan residents, Wolverine Mutual offers auto insurance for $224 per month on average. GEICO's average premiums come out to be over 60% more expensive, at $377 a month.

But there's more to calculating car insurance rates 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 normally pay a lot more for insurance than any group on the road. It's generally because young, inexperienced drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. For example, 18-year-old drivers pay an average of nearly $65 less a month by choosing GEICO over Wolverine Mutual. It's worth noting that GEICO offers car insurance in 50 different states compared to Wolverine Mutual's one, which can skew the average premiums a bit, but the difference here is still considerable.

But both carriers will offer you dramatically lower prices once you turn 25. For example, average rates for GEICO policyholders reduce more than $200 and Wolverine Mutual's premiums drop almost $150 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age usually enjoy some of the lowest insurance rates you'll ever find. After all, they've likely been driving for quite some time, which typically lowers their chances of accidents and other infractions that can increase prices.

So, which company offers the best rates to retired drivers? Wolverine Mutual gets the edge, with prices for drivers 65 and older $29 more affordable than the national average for GEICO.

Which is the Best Company for Married Drivers?

Single policyholders tend to get offered slightly more expensive auto insurance premiums than married drivers. This usually boils down to married policyholders having more than one car on their policy -- something several car insurance companies will reward with discounts.

When it comes to relationship status, GEICO is the clear winner for single drivers, with prices around $42 per month less expensive than Wolverine Mutual, on average. The advantage is also clear for married couples - GEICO offers the cheapest average rates.

GEICO vs. Wolverine Mutual: Average Rates by Gender

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

On average, men see premiums about $10 a month higher with GEICO; women and men end up paying same monthly rates with Wolverine Mutual.

When it comes to the most affordable premiums for each gender, GEICO comes out on top for both men and women, with average prices $35 less for men and $43 cheaper for women.

GEICO or Wolverine Mutual: 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.

Auto insurance isn't the easiest topic to understand. There are so many different terms and limits that it can make it pretty confusing to find the right policy.

The two most common policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury coverage for other drivers if you cause an accident) and full coverage (which usually refers to having comprehensive and collision coverages alongside liability).

If you're looking for state minimum liability limits, GEICO normally offers more affordable premiums of $101 compared to Wolverine Mutual's $114. When it comes to full coverage policies with similar limits, GEICO again has the edge, with policies around $65 per month cheaper than Wolverine Mutual, on average.

Is GEICO or Wolverine Mutual Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car 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 at-fault accidents and tickets on your record, but which of these two companies offers the lowest rates to drivers with spotty 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 Wolverine Mutual typically raises rates about $29 per month, on average.

Even so, GEICO is normally the less expensive option for drivers both with a speeding ticket and with a clean record. Drivers with a clean record can save around $31 a month and drivers with a ticket can save about $25 per month with GEICO.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through GEICO can expect to see around an $85 -- or about 43% -- increase in their auto insurance prices. Drivers who use Wolverine Mutual for their car insurance will see a monthly bill around $42 (or 22%) more expensive after reporting a collision to their auto insurance carrier.

Overall, the more affordable rates come from Wolverine Mutual, with monthly prices averaging $188 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 collision or speeding ticket when it comes to your insurance bill. For example, Wolverine Mutual increases average premiums by just under $250 a month -- that's over a 60% increase.

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

How does Credit Score Impact GEICO and Wolverine Mutual Rates?

Did you know that many auto insurance carriers take your credit score into account when calculating prices? This isn't always the case (California, for example, has banned the use of credit score as a rating factor) but it might come into play for a lot of drivers.

The reasoning car 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 premiums, while those with poor credit will usually be forced to pay more.

So, which company offers the cheapest rates for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Michigan is one of a few states that prohibits insurance carriers from using credit scores to determine prices. And since Wolverine Mutual is only available in Michigan, there is no data available on how credit score impacts premiums because it's not a factor at all. This may be a good thing, since GEICO and other companies tend to raise rates quite a bit in other states if you don't have excellent credit.

Which Company is Best for Drivers with Bad Credit?

If you have a below average credit score and live in Michigan, the good news is it won't cost you extra when it comes to auto insurance. As you can see, poor credit can really cost GEICO drivers in other states, but no need to worry if you live in Michigan.

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

How much you drive can have a substantial impact on how much insurance carriers will charge for coverage. That's because the fewer miles you drive, the less likely you are to get into an accident and cause an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Wolverine Mutual charges. However, there's a small difference in monthly premiums for GEICO, with drivers who put 6,000 miles on their vehicle annually paying about $8 less each month compared to those who drive 12,000 miles every year. Still, GEICO is the less expensive option for drivers in both categories.

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

We've already mentioned how your home state can play a role in how much you pay for car insurance, but the type of area you live in can have a sizable impact as well. Generally, if you live in an urban area with more cars on the road, you'll pay a little more for auto insurance, while the opposite is true for people in rural areas.

GEICO boasts the lowest average prices in urban and suburban areas, while Wolverine Mutual wins in rural areas.

In urban areas, GEICO's average premiums are around 39% less than Wolverine Mutual. Drivers in suburban ZIP codes pay about 4% less with GEICO compared to Wolverine Mutual. If you live in a rural area, you can expect to save around 14% with Wolverine Mutual compared to GEICO.

GEICO vs. Wolverine Mutual Discounts

Regardless of 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 possible. That's where insurance discounts comes into play.

But with what seems like a million different discounts out there, it can be hard to find all the ones you're eligible for or to nail down the carrier that has the most discounts for your unique driver profile.

Below, we've taken a look at all of the different discounts GEICO and Wolverine Mutual offer their customers so that you can find the carrier that has the most discounts and, therefore, the biggest savings.

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

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

Wolverine Mutual's discounts come through just a few categories, including ABS, Distant Student, Good Driving, and more.

Final Thoughts: Is GEICO or Wolverine Mutual Best for You?

So, we've broken down the average rates for many of the factors car insurance carriers look at, and walked through the different discounts each company offers, too. But, at the end of the day, is GEICO or Wolverine Mutual the right company for you and your specific needs?

GEICO might be best for you if....

• You don't have any speeding tickets, DUIs, or at-fault collisions on your record.
• You want basic insurance coverage at the state minimum limits.
• You are purchasing your auto insurance with a spouse.

Wolverine Mutual might be best for you if...

• You have an at-fault accident on your record.
• You live in a rural neighborhood.
• You are over 65 years old and want to save some money on your insurance.

We hope this guide helps you get a better idea of the difference between GEICO and Wolverine Mutual and that you can now make a more informed decision when it comes to your car insurance.

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

GEICO vs. Wolverine Mutual FAQs

Is GEICO or Wolverine Mutual cheaper?

Looking just at the national average prices, GEICO is the cheaper of the two companies, offering average rates of $185 per month compared to $224 for Wolverine Mutual. However, GEICO won't necessarily be the cheapest carrier for everyone, 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 Wolverine Mutual?

Sadly, the answer truly is "it depends.". No single company is "better" for each driver -- it all comes down to what your unique auto insurance profile looks like. For example, Wolverine Mutual offers more affordable premiums for policyholders with an at-fault collision on their record, while GEICO is cheaper for drivers who have less-than-stellar credit scores.

Why do GEICO and Wolverine Mutual offer me different rates?

Insurance carriers take a look at quite a few different factors when determining the prices they charge drivers. Things like gender, your driving record, where you call home, age, and sometimes even things like your credit score can all be taken into consideration. Both GEICO and Wolverine Mutual calculate rates differently, so each one will most likely offer different premiums. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from several different companies.

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

The only way to find the auto 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 do all the hard work for you. Just enter your ZIP code and you'll get free quotes from dozens of the best insurance companies in your area. With those, you can guarantee you're getting the best price. And who knows, the best carrier for you might not be GEICO or Wolverine Mutual 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.