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Founded in 1936 as the Government Employees Insurance Company, Geico for short, the company initially provided insurance products only to federal government employees and their families.
Now, however, the company is the second-largest auto insurer in the U.S., and offers insurance policies to residents of all 50 states. Additionally, Geico offers a variety of other insurance policies, either on its own or through partner insurers, to provide comprehensive options to consumers.
If you're considering purchasing an insurance policy with Geico, here's everything you need to know before you apply.
|High customer satisfaction in several regions||Some policies are available only through partner insurers|
|Comprehensive insurance options||Limited local agency footprint|
|Several discounts available to policyholders|
|Geico Customer Service|
Geico offers insurance products in all 50 states plus the District of Columbia. Policy options include vehicle, property, business, umbrella and many more. The insurer's bread and butter, however, is its auto insurance coverage, which has a market share in the U.S. that's second only to State Farm.
Whether you're looking for coverage for your car or something else, here's what you need to know about your coverage options and what kind of experience you can expect with Geico.
What Geico Auto Insurance Offers
Geico offers several different types of insurance coverage for car owners to protect them, their vehicles and others.
Collision and Comprehensive Coverage
If you purchase an auto insurance policy with Geico, you can protect your vehicle with collision and comprehensive coverage. Collision coverage typically pays for damage to your vehicle when you hit another vehicle or object, or vice versa.
Comprehensive coverage, on the other hand, may pay for damage that results from things like vandalism, theft, flood or fire.
The amount of coverage you receive from these options and how much they'll cost depend on the value of your vehicle and a few other things. You can even adjust your deductible—how much you pay out of pocket before your coverage kicks in—to reduce how much you pay for the protection.
Collision and comprehensive coverage are not required by law, but your lender may require them if you're leasing or financing your vehicle.
Geico offers bodily injury and property damage liability coverage. Both provide financial protection to you if you're at fault in an accident where property is damaged, or if someone else is injured or dies.
Liability insurance is required by law in most states, even if you own your vehicle outright. Geico offers varying levels of liability coverage, so you can choose how much you want to purchase above your state's minimum requirement.
Depending on where you live, your Geico auto policy may be required to include medical payments coverage, personal injury protection (PIP) or both.
The primary difference between the two is that while medical payments may cover medical expenses related to a car accident, PIP may cover medical bills, lost wages and other accident-related expenses, regardless of who is at fault.
Uninsured Motorist Coverage
If you get in an accident where another motorist is at fault, and they're either uninsured or underinsured, this coverage helps pay the expenses resulting from your injuries and property damage that aren't covered by the other driver's policy (or lack of a policy).
Additional Auto Insurance Coverages
If you'd like, you can also add other types of coverage to your auto policy, including:
- Emergency road service: If you need help on the road, this coverage arranges for a tow truck, a jumpstart for dead batteries, labor to change a flat tire, or help to get into your locked car.
- Rental reimbursement: This helps cover the cost to rent a car while yours is being repaired as part of a covered claim. This coverage may pay for some or all of your rental costs, although it is subject to a daily and overall claim limit.
- Mechanical breakdown insurance: If you own a vehicle that's less than 15 months old and has fewer than 15,000 miles, this protection covers repairs for all mechanical parts of your car—besides wear and tear—for up to seven years or 100,000 miles.
Other Vehicle Policy Options
In addition to auto insurance, Geico also provides insurance products for other vehicle types and uses, including:
- Boats and other personal watercrafts
- Collector vehicles
- Commercial vehicles
- Vehicles driven for rideshare services
You can also purchase a policy to cover your vehicle while traveling in Mexico.
How to Determine How Much Coverage You Need
With so many coverage options, some of them optional, it can be challenging to know how much you need to purchase as part of your policy. Start by checking minimums required by your state, and also ask your lienholder if you're financing or leasing your vehicle.
It's also important to think about how much you can afford to pay if something happens to your vehicle or someone else's, and you're at fault. Geico's coverage calculator can help you determine the right amounts based on your financial situation.
How to Save on Auto Insurance with Geico
As with other insurers, Geico offers a variety of discounts based on your age, where you work, your vehicle, your driving habits and more. Here's a list of the top discounts the insurer provides:
- Multi-policy discount: Purchase an auto and a homeowners or renters insurance policy from Geico and save on both.
- Multi-vehicle policy discount: Get a discount on your auto policy when you insure multiple vehicles through the company—that can include two cars, a car and a motorcycle, a car and a boat, or a car and an RV.
- Member and employee discounts: If you belong to or work for one of more than 800 participating organizations, you could be eligible for special rates. The insurer also provides discounts for members of the military and federal government employees.
- Age-related discounts: You may qualify for a reduced rate if, for example, you're a student or 50 years of age or older.
- Vehicle equipment discounts: You can qualify for discounts on different coverage types if your vehicle is equipped with airbags, anti-lock brakes, an anti-theft system or daytime running lights, or if your car is three model years old or newer.
- Driving history discounts: If you and your passengers always use seat belts or you've been accident-free for five years, you could get significant discounts on select coverages.
- Driver's education discounts: If a young driver in your family has completed a driver's education course or someone on the policy has completed a defensive driving course, you could qualify for a lower rate. Also, in most states, full-time students with a B average or better may qualify for a discount.
One thing to keep in mind is that not all discounts are available in all states. So check with a local agent or a phone agent to find out which ones you qualify for.
How to Get a Quote From Geico
Geico has a network of local agents, but it isn't as robust as some other auto insurers'. You can get a quote from a local agent if there's one in your area, or you can request one online through the insurer's website.
The process takes roughly 15 minutes and requires several pieces of information about you and your vehicle, including your:
- Date of birth
- Full name
- Marital status
- Social Security number
- Housing status
- Education level
- Employment status
- Any military and government affiliations
- Driving history
- Participating organization affiliations
- Contact information
- Current auto insurance information
- Vehicle information
- Financing arrangements
- Primary vehicle use
- Estimated miles driven
It's important to note that your initial quote isn't necessarily set in stone. If you're satisfied with the quote and want to go ahead and apply, Geico will check your driving record and other information to deliver a firm quote.
When you apply for an auto insurance quote—or any insurance quote for that matter—the insurer will typically run a soft inquiry on your credit report. While Geico and many other auto and homeowners insurance companies may use that information to create a credit-based insurance score, the inquiry won't impact your credit score.
Also, keep in mind that credit-based insurance scores typically can't be used as the sole reason for denying a policy or hiking your insurance premiums. However, having good credit could potentially improve your chances of scoring a lower rate in most states.
How Filing a Claim Works
If you need to file a claim, you can do so online, from the Geico mobile app or by calling a claims representative. According to J.D. Power, Geico is ranked No. 4 in the U.S. for auto claims satisfaction—besting other large insurers including State Farm, Progressive, Nationwide and Allstate.
You'll need to provide your name and policy number, as well as information about why you're filing a claim and details based on the coverage you need.
If your vehicle is safe to drive, the insurer will arrange a time to bring it to a repair shop, usually within 24 hours, to get an estimate. If the car isn't driveable, Geico will send out an adjuster to assess the damages. If you have rental car reimbursement coverage, Geico will help you arrange a rental car while yours is being repaired.
Depending on the situation, your claim may be settled in as little as 48 hours.
Geico Offers Homeowners and Life Insurance
If you own a home, Geico offers homeowners insurance to help you protect one of your most valuable assets. In many cases, mortgage lenders require this coverage. Note, however, that Geico doesn't provide homeowners insurance directly. Rather, it works with a network of insurance partners to find you the right policy.
You can also apply for a life insurance policy to protect your loved ones financially in the event of your death. Geico works with Life Quotes Inc. to help you find the right type of policy and amount of coverage for your situation and loved ones' needs.
Additional Insurance Coverage
In addition to the types of insurance policies we've already covered, Geico also provides several others, including but not limited to:
- Condo/co-op insurance
- Insurance for landlords
- Mobile home insurance
- Flood insurance
- Various insurance policies for business owners
- Umbrella insurance
- Travel insurance
- Pet insurance
- Identity theft insurance
Benefits of Having Geico Insurance
According to J.D. Power, Geico was ranked No. 1 among large insurers for its purchase experience and No. 1 in overall customer satisfaction in the North Central, Northwest and Southwest regions of the U.S.
You can also call and speak with a customer service agent 24 hours a day, seven days a week.
Is Geico Right for You?
Geico's rates and offerings can vary based on where you live, as well as several other factors. As a result, it's not always the right insurer for everyone. The company's high satisfaction ratings are appealing, and its long list of discounts can make it easy to save money. Also, its wide range of coverages can help you ensure you get all the insurance protection you need.
However, it's important to research and compare multiple insurers before settling on one. Doing your homework can help you find the right insurance provider not only based on coverage options, but also on price. Take your time to find the best fit for your insurance needs.
Insurance coverage availability, discounts, limits and other details may vary by state and other factors.