GEICO Car Insurance Review

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Table of Contents

Geico auto insurance reviewThough GEICO is popular for its adverts featuring geckos and cavemen, it has more to offer than just ads; it is a top-rated auto insurer. It is ranked the second-largest car insurance provider in the nation and boasts the only insurance provider that presents more mascots than a TV show for kids. They are also very competitive in the game, doing all they can to secure even clients below age 30.

GEICO provides lots of car insurance coverage options and is popular for its great customer service, as well as its great mobile app for customers. GEICO focuses on online sales to customers rather than the use of agents, which has given the company the ability to keep low rates coupled with providing similar products of other big insurers. Due to its pricing and convenience, it is known as the best option for consumers that are cost-conscious.

GEICO may come with some cons such as gap insurance absent, difficult getting a local agent, accident forgiveness not available in all states, and some coverage options missing. Overall, the company boasts to offer some of the best services such as excellent 3rd-party ratings, great mobile app, multiple Policy discounts, and new cars having mechanical breakdown insurance.

Basic Coverage

The auto insurance offered by GEICO includes: 

  • Property damage: This coverage comes in for damages made to properties due to accidents caused by you
  • Bodily injury: This covers damages for death or bodily injuries due to accidents caused by you.
  • Personal Injury Protection: This covers accident-related expenses, lost wages, or medical treatments, regardless of who caused the accident.
  • Medical Payments: This covers medical expenses caused by a car accident.
  • Comprehensive: This coverage pays for damages caused to your car due to storms, vandalism, theft, etc
  • Collision: This covers damages to your car when it is hit, or it hit by an object or another vehicle

Extras

Other coverage offered by GEICO insurance includes: 

  • Rental Reimbursement: This pays some fraction of costs required to rent a car if you have need of renting a car pending the repair of yours due to a covered claim.
  • Emergency Road Service: This helps you get the required roadside assistance for just $14 yearly per vehicle. In contrast to some insurance companies that require payment for services offered, towing coverage is added to your GEICO roadside assistance.
  • Mechanical Breakdown Insurance (MBI): Rather than purchase the extended warranty of your car manufacturer, you can buy the MBI of GEICO for leased or new cars that are below 15 months old and covered below 15,000 miles.  After a deductible of $200 on a covered loss, Mechanical breakdown insurance stands in for all the car’s mechanical parts (asides the usual wear and tear and maintenance).

A similar program – WarrantyDirect is offered by progressive, but this is delivered via a 3rd party and only older vehicles qualify. However, it seems more expensive.

How to Get a Quote

Step 1: Visit www.geico.com and click on start quote

Step 2: Indicate what you would love to protect. In this case, click Auto

GEICO Car Insurance - How to get a quote 1

Step 3: Indicate your date of birth and then type in your first and your last name

Step 4: Insert your address, Apt #, and your 5-digit zip code

GEICO Car Insurance - How to get a quote 2

Step 5: Indicate if you have changed location in the last two months

Step 6: Indicate if you have your VIN. Inserting your VIN gives you a more accurate quote

Step 7: Type in your car’s year, make, and model

Step 8: Choose your ownership status, whether owned, financed, or leased.

Step 9: Indicate how the vehicle is used (whether it is for pleasure, for business, or to commute).

GEICO Car Insurance - How to get a quote 3

Step 10: Indicate your commute (how many days and miles the car is driven to your workplace or to the school?)

Step 11: Choose your annual mileage and click next

Step 12: Tell the company more about you. i.e. your gender, marital status,  and click next

GEICO Car Insurance - How to get a quote 4

GEICO Car Insurance - How to get a quote 5

Step 13: Enter your social security number

 

How to File a Claim

Filing a claim can be done online through the company’s mobile app, or just contacting a claims representative.

To begin, you have to provide your name, as well as your policy number, and other information telling the company why you have decided to file a claim, and details based on the required coverage.  If your vehicle is okay and can be driven, within 24 hours, the insurer will fix a time to get it to the repair shop to get the right estimate.

Depending on how severe the situation is, your claim is likely to be settled within 48 hours.

Pros

Cons

Here are some advantages as well as some disadvantages of working with GEICO car insurance:

Excellent 3rd-party ratings

GEICO has received excellent ratings from different credit rating agencies; i.e. GEICO gave the company the best possible rating A++, while it also took 4th spot among companies having the best customer service in the industry

Great mobile app

The mobile app of GEICO was highly rated during the Dynatrace Mobile Insurance Scorecard that took place during the 1st quarter of 2019. The app can perform several functions, such as reporting an auto claim, paying of bills, accessing Gabby (the virtual assistant of GEICO) for help, and accessing digital insurance cards.

Multiple Policy discounts

Several discounts are given in GEICO, which helps in reducing your insurance premiums, which include multi-policy discounts, student driver discounts, military discounts, senior driver discounts, and good-driver discounts.

New cars have mechanical breakdown insurance

This serves as a comprehensive and more robust extended warranty. This insurance is a must for new cars that have been known to be unreliable.

Gap insurance absent

With gap insurance, the difference between the actual value of your car and what is owed on it is covered; this can only happen if the car is stolen, or it is totaled in an accident. However, GEICO has failed to offer this insurance.

It may be difficult to get a local agent

Though GEICO has some insurance agents, they are far fewer in number when compared to those of other competitors because it only focuses on customers making their purchases online.

Accident Forgiveness cannot be found in all states

When you have accident forgiveness, you will be protected from increases on the premium rate because it is your first time at fault for an accident. However, this is not available in all states.

Some coverage options missing

GEICO has failed to offer some important coverage options like gap insurance and new car replacement.

Customer Satisfaction Ratings, Financial strength

GEICO insurance has very strong financial strength. Concerning financial strength, Standard & Poor’s (S&P) awarded all the affiliates of GEICO with an AA+ rating. The company has also earned the highly coveted Security Circle designation of Standard & Poor’s. GEICO is a subsidiary of Berkshire Hathaway, Inc., and boasts of assets worth over $32 billion.

TypeCompany     Rate
Customer satisfactionBetter Business Bureau Consumer complaint rating       A+
Customer satisfactionJ.D. Power customer satisfaction score     867/1000
Financial strengthA.M. Best financial strength rating       AA+
Financial strengthStandard & Poor’s (S&P)       AA+
Customer satisfactionNAIC complaint index 

The offerings and rates of GEICO can vary with respect to your location, in addition to other factors. Due to this, this insurance is not right for everyone. They have high and appealing satisfaction ratings, and with their many discounts, it helps customers save some money.

In addition, its different coverages ensure you get the right insurance protection. However, it is very important you conduct research and then compare different insurers before settling for one.

Auto Insurance Discounts

GEICO Auto Insurance provides amazing discounts to suit different budgets: 

DiscountHow do you receive it?
Airbag discountWith this, you can save 40% for airbags at the full-front seat and 25% for airbags at the driver side. This discount also deals with personal injury protection or medical payment.
Anti-theft systemWith an anti-theft system in your vehicle, you are entitled to 25% off the portion of your premium
New vehicle discountThree model years old cars or newer have a chance to get a 15% discount on some coverages.
Daytime running lightsVehicles having daytime running lights stand a chance of getting a 1% discount on some coverages.
Anti-lock brakes discountWith an anti-lock brake system installed, you will get a discount of 5% from your collision premium.

 

Car Insurance Alternatives

Here are our 2 choices of car insurance companies which can use as a great alternative to GEICO:  

GEICO provides lots of car insurance coverage options and is popular for its great customer service, as well as its great mobile app for customers. GEICO focuses on online sales to customers rather than the use of agents, which has given the company the ability to keep low rates coupled with providing similar products of other big insurers. Due to its pricing and convenience, it is known as the best option for consumers that are cost-conscious.

GEICO may come with some cons such as gap insurance absent, difficult getting a local agent, accident forgiveness not available in all states, and some coverage options missing. Overall, the company boasts to offer some of the best services such as excellent 3rd-party ratings, great mobile app, multiple Policy discounts, and new cars having mechanical breakdown insurance.

You can take advantage of quite a lot of bundling options with Nationwide that you won’t easily find with other insurance firms. Nationwide is great for you if you have a spotless driving record as you will be treated to some of the cheapest rates available. However, if your driving history has some blemish, you might want to look elsewhere for coverage. Seniors will find this company more appealing than youngers as rates tend to get cheaper the older you get.