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GEICO Car Insurance Review


Rating: 9 / 10 (Excellent)
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Headquartered in Chevy Chase, Maryland, GEICO is an auto insurance company with over 80 years of experience in the business. Since its inception in 1936, the company has grown to provide private passenger auto insurance for other segments of the population apart from government employees. They now cover over 15 million policyholders and more than 24 million vehicles.

How is GEICO rated?

Breakdown

9/10
Coverage & Benefits
9/10
Pricing and Discounts
10/10
Financial Strength
9/10
Customer Experience

Overall Rating: 9 / 10 (Excellent)

As the second largest-private passenger auto insurer by market share, GEICO policies are backed by their parent company's financial strength and stability. Although they have received mixed customer reviews, complaints against GEICO's private passenger auto insurance are lower than the industry median, and prior customers report an average overall customer experience. The best part about working with GEICO is the many ways they help you save on car insurance. The company offers an excellent range of discounts for government employees, military service members, students, safe drivers, new customers, and more.

GEICO Coverage

Basic Coverage

  • Bodily Injury Liability
  • Property Damage Liability
  • Collision
  • Comprehensive
  • Personal Injury
  • Medical Payments
  • Uninsured/Underinsured Motorist

Additional Coverage

  • Rental Reimbursement
  • Towing & Labor Cost

Coverage & Benefits - 9 / 10

In line with market standards, GEICO offers comprehensive physical damage coverage in addition to their standard protection coverages, which include personal injury, medical insurance, collision, and uninsured motorist protection. Add-on coverages such as road service, rental reimbursement, and mechanical breakdown insurance are also available.

Customer Experience

Customer Ratings

Trust Pilot Rating
6.9 out of 10
BBB Rating
B
Number of BBB Positive Reviews
3
Number of BBB Neutral Reviews
4
Number of BBB Negative Reviews
163
Date Collected
2017-10-12

Customer Experience - 9.3 / 10

GEICO has a B rating with the Better Business Bureau, along with a composite score of 2.82 out of 5 stars based on 170, mostly negative, customer reviews. In contrast, the company holds a 6.9 Truscore on Trustpilot.com, based on mainly positive customer feedback, with clients praising their excellent service and quick claims processing. JD Power's 2016 Auto Insurance Claims Satisfaction Study, however, further confirms policyholders' mixed feelings towards the company, with client consensus giving GEICO a 3 out of 5 (about average) in terms of overall customer satisfaction.

J.D. Power 2016 Auto Insurance Study

JD Power Overall Satisfaction Score
3 out of 5 (About Average)
First Notice of Loss
3 out of 5 (About Average)
Service Interaction
3 out of 5 (About Average)
Appraisal
3 out of 5 (About Average)
Repair Process
2 out of 5 (The Rest)
Rental Car Experience
3 out of 5 (About Average)
Settlement
3 out of 5 (About Average)

National Association of Insurance Commissioners

NAICS Complaint Ratio 2016
0.56
NAICS Total Complaints 2016
297
*The NAICS Car Insurance complaint ratio (in this case 0.56) is a ratio of the number of complaints a company received to the its total premiums written in a calendar year. The median complaint ratio across all Car Insurance companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Financial Strength

Key Details

Underwriter
Berkshire Hathaway Group
Premiums Written 2016
$25,531,762,332
Marketshare 2016
11.92%
AM Best Financial Rating
A++
Moody's Financial Rating
Aa3
Standard & Poor's Financial Rating
AA

Financial Strength - 9.7 / 10

GEICO, a subsidiary of multinational conglomerate Berkshire Hathaway, maintains A scores with all leading U.S. credit rating agencies, including the highest (A++) rating with A.M. Best. Under its parent company, GEICO holds 11.92 percent of the market share for private passenger auto insurance in the United States as of 2016, making them one of the most financially stable institutions in the insurance sphere today.
*The above information reflects the financial strength of the underwriter of the GEICO car insurance policies: Berkshire Hathaway Group.

Pricing & Discounts

Per Mile Pricing Available?

Discounts

  • Multiple Vehicle
  • Safe Driver
  • Anti-Theft
  • Vehicle Safety
  • Student
  • Bundled Policy

Additional Discounts

  • Group Savings (unions, etc)

Pricing and Discounts - 8.5 / 10

GEICO markets itself as an affordable auto insurance alternative offering discounts for multiple vehicles, safe drivers, vehicle safety, and bundled policies. GEICO also continues to provide additional savings for active and retired military members, as well as other government employees. Similarly, the company extends further membership discounts and employee benefits to over 500 groups, including customized products, immediate coverage, and 24-hour service. GEICO policies are among the most affordable in the industry, with plans ranging from $70 to $240, with no additional coverages added.

Contact & Additional Information

Homepage URL
Company Phone
(800) 207-7847
Headquarters Address
One GEICO Plaza, Bethesda, MD, 20810
Year Founded
1936

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Customer Comments & Reviews

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A
Allison
Cathedral City, California
1/6/2017
Excellent customer service and have always been a great help for us when things have gone wrong with vehicles



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