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GEICO Home Insurance Review


Rating: 8.1 / 10 (Excellent)
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Founded in 1936 and headquartered in Chevy Chase, Maryland, GEICO is an American insurance company offering affordable car insurance and related products and services. The company, a subsidiary of conglomerate Berkshire Hathaway Inc., has expanded its area of coverage and insurance solutions to offer business and property protection policies, including homeowners, renters, landlord, and flood insurance, among others.

How is GEICO rated?

Breakdown

8/10
Financial Strength
7/10
Customer Experience
9/10
Pricing & Discounts
9/10
Coverage

Overall Rating: 8.1 / 10 (Excellent)

As a wholly owned subsidiary of Berkshire Hathaway Group and one of the nation's leading property and casualty insurers by market share, GEICO's policies are backed by their parent company's outstanding financial strength and stability as well as their own substantial experience in the insurance industry. Although their site fails to provide detailed information about their homeowners policies and offers less than a handful of discount for their line of property insurance products, GEICO still delivers superb customer service and excellent coverages at affordable prices.

Financial Strength

Key Details

Underwriter
Berkshire Hathaway Group
Standard & Poor's Financial Rating
AA
Moody's Financial Rating
Aa3
AM Best Financial Rating
A++

Financial Strength - 8 / 10

GEICO Corporation holds outstanding financial strength ratings as evidenced by A scores from all major credit agencies, including an AA from Standard & Poor's, an Aa3 with Moody's, and an A++ with A.M. Best. Although not a major player in the home insurance business, GEICO ranks as the third-largest property and casualty insurer in the nation by market share.
*The above information reflects the financial strength of the underwriter of the GEICO home insurance policies: Berkshire Hathaway Group.

Customer Experience

J.D. Power 2016 Home Insurance Study

JD Power Overall Customer Satisfaction Score
4 out of 5 (Better Than Most)
Policy Offerings
4 out of 5 (Better Than Most)
Claims
4 out of 5 (Better Than Most)
Interaction
4 out of 5 (Better Than Most)
Price
4 out of 5 (Better Than Most)
Annual Statement & Billing
4 out of 5 (Better Than Most)

Customer Ratings

Trust Pilot Rating
6.1 out of 10
BBB Rating
B
Number of BBB Positive Reviews
3
Number of BBB Neutral Reviews
4
Number of BBB Negative Reviews
170
Date Collected
2017-10-30

Customer Experience - 7 / 10

Although not accredited by the Better Business Bureau, the organization has given GEICO a B rating and a composite score of 2.82 out 5 stars based on 177 customer reviews. Despite negative feedback from clients on the BBB platform, GEICO holds a 6.1 (Average) Trustpilot score and has been ranked among the best home insurers in the nation according to JD Power's 2016 U.S. Home Insurance Study, in which they scored 4 out of 5 (among the best) across six rating factors. Clients who have purchased GEICO policies attest to the companies commitment to customer satisfaction and their excellent savings opportunities.

GEICO Coverage

Basic Coverage

  • Dwelling Protection
  • Other Structures Protection
  • Personal Property Protection
  • Liability Protection
  • Guest Medical Protection

Coverage - 9 / 10

GEICO's homeowners policy covers more than just your home. Each plan offers personal liability protection and medical payments coverage for guests injured on your property, a broad perils coverage for damages to your house or the permanent structures on your property, and even personal property protection against loss or theft of items such as electronics and jewelry. For a company that specialized in auto insurance coverages, GEICO knows precisely the level of protection homeowners require and delivers with flying colors.

Pricing & Discounts

Household Discounts

  • Home Safety Features
  • Smoke-Free

Policy Discounts

  • Multi-Policy

Pricing & Discounts - 9 / 10

GEICO offers competitively-prices policies and a broad range of discounts for most of their insurance products. For their homeowners insurance, however, the company fails to deliver anything beyond the most basic discounts for bundled policies, smoke-free homes (fire alarms and extinguishers), and those with safety features such as alarms or monitoring systems.

Contact & Additional Information

Homepage URL
Company Phone
(800) 841-3000
Headquarters Address
1 Geico Plaza, Washington, DC, 20076
Year Founded
1936

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Top Rated
9.8 / 10
  • A+ BBB - Over 100 Years of Experience
  • Homeowners, Condo, Renters or Umbrella Coverage
  • Coverage for your home, belongings & personal liability
  • There when you need it: Fast claims & 24/7 reporting
  • Bundle & Save with available multi-policy discounts
  • Get your quote today & learn how you can save up to 26%!