If you are in the market for auto insurance, you have probably heard of GEICO car insurance. To determine how GEICO differs to its rivals, we analyzed its insurance coverage options, reputation in the market, and other important details. We discovered that the organization routinely provides some of the most competitive car insurance premiums. If you are still confused if it is worth getting, you can continue reading our review to learn more about it.
GEICO Car Insurance's Overview
Even though GEICO car insurance is well-known for its viral advertising showing cavemen and geckos. It offers a variety of auto insurance coverage options. In addition, it is well-known for its customer care and provides consumers with a simple mobile app. Significantly, by selling directly to clients online rather than via agents, GEICO can provide many of the same products as other major insurers at affordable prices. It is a popular alternative among budget-conscious consumers due to its price and ease.
Types of GEICO Car Insurance's Coverage
GEICO’s auto insurance provides the following coverages:
- Personal Injury Protection (PIP): PIP pays for your medical bills, missed earnings, and other accident-related costs, regardless of who was at fault.
- Medical Payments Coverage: Medical costs coverage compensates for medical bills incurred due to an automobile accident.
- Property Damage Liability: This coverage pays for property damage caused by accidents for which you are at fault.
- Bodily Injury Liability: This coverage pays for bodily injury or death damages resulting from an accident for which you are at fault.
- Comprehensive: This coverage pays for damage to your vehicle caused by theft, vandalism, storms, and other covered perils.
- Collision: This coverage reimburses you for damage to your vehicle if it collides with or is collided with another vehicle or object, such as a deer.
Uninsured and underinsured motorist coverage protects you if you are involved in an accident with a driver who is either uninsured or has insufficient coverage to pay for your damages.
- Mechanical Breakdown Insurance (MBI): Instead of purchasing an extended warranty from your car’s manufacturer, you can purchase GEICO’s MBI for new or leased vehicles with fewer than 15 months and 15,000 miles. After a $250 deductible for a covered loss, MBI pays for repairs to the vehicle’s mechanical components. Progressive offers a comparable program called WarrantyDirect, administered by a third party and only applies to older vehicles. However, it is typically more costly.
- Rental Reimbursement: If you have to rent a vehicle while your vehicle is being repaired as a consequence of a covered claim, rental reimbursement will assist cover a portion of your rental expenses.
- Emergency Road Service: Roadside help is available for as little as $14 per year per vehicle. Towing coverage is included with your GEICO roadside assistance, unlike other insurance providers, where you must pay extra for the service. Roadside assistance may also aid with dead battery jump starts, flat tire changes, and lockout services (up to $100).
GEICO Car Insurance Discounts
GEICO offers a variety of discounts that can reduce your auto insurance premiums as follows:
- Military Discount: Military members, veterans, and members of the National Guard and Reserves may qualify for a 15% reduction on their total auto insurance costs.
- Membership and Employee Discounts: If you belong to a membership organization or work for a participating business, you may be eligible for a further discount.
- Federal Employee Discount: Active and retired federal employees can receive a 12 percent discount on their total auto insurance premium by qualifying for the Eagle discount.
- Emergency Deployment Discount: You may be eligible for a 25% discount on your vehicle insurance if you are an armed forces member and are deployed to an imminently dangerous area.
- Good Student Discount: Students with a grade point average of at least B are eligible for a 15% discount on most coverages.
- Driver’s Education Discount: If a young driver in your household has completed driver’s education, they may be eligible for a discount on most coverages.
- Defensive Driving Discount: If you completed a defensive driving course, you might be eligible for a premium discount.
- Seat Belt Use Discount: You and your passengers may be eligible for a reduction on your medical bills or personal injury protection rates if you and they always wear seatbelts.
- Good Driver Discount: If you have not been involved in an accident for at least five years, you might save up to 22% on the majority of coverages.
- New Vehicle Discount: Certain coverages may provide a 15% reduction for three model years or fewer old vehicles.
- Daytime Running Lights: Vehicles equipped with daytime running lights may be eligible for a 3 percent discount on some coverages.
- Anti-Theft System: If your car is equipped with an anti-theft system, you may receive up to a 25% discount on the comprehensive component of your premium.
- Anti-Lock Brakes Discount: If your vehicle has a factory-installed anti-lock braking system, your collision premium will be reduced by 5%.
- Airbag Discount: You can save up to 23% if your car is equipped with airbags. These reductions are applied to the medical payments and personal injury protection portions of your auto insurance.
Unlike other auto insurers, who rely on insurance salespeople to sell policies, GEICO offers policies directly to clients over the internet. You can obtain a quotation and buy insurance coverage online without speaking with a professional. However, customer service is accessible by phone, email, and mobile application. Importantly, Gabby, GEICO’s virtual assistant, can also answer insurance-related queries and help you locate information about your policy.
In addition, multiple honors have been given for the mobile application of GEICO. The application allows you to access your insurance cards, call roadside assistance, receive picture estimates for repairs, and see your vehicle’s maintenance history. GEICO car insurance has an excellent reputation within the insurance sector. AM Best, a credit rating organization specializing in the insurance market, assigned GEICO its highest Financial Strength grade, A++ (Superior). AM Best’s Financial Strength ratings quantify an insurer’s stability and capacity to fulfill contractual obligations.
Pros & Cons
- Excellent third-party rankings
The insurance industry’s credit rating firm, AM Best, assigned GEICO car insurance the highest possible grade for financial strength, A++. GEICO placed 12th out of 25 national insurers in the U.S. Auto Claims Satisfaction Study by J.D. Power.
- Multiple policy savings are available.
GEICO car insurance offers many discounts that can lower your insurance costs, including good-driver discounts, multi-policy discounts, military discounts, and student-driver discounts.
- Outstanding mobile application
The Keynova Q2 2021 Mobile Insurance Scorecard ranked the mobile apps of the 12 biggest U.S. auto insurers, with GEICO’s app receiving the highest overall score. With the app, you may file a vehicle insurance claim, pay your bill with a single swipe, access digital insurance cards, and contact Gabby, GEICO’s virtual assistant.
- GEICO does not provide gap coverage.
Gap insurance covers the gap between your car’s real worth and what you still owe on it in the event of a catastrophic loss or theft. Unfortunately, GEICO does not offer gap insurance. Therefore, you must get gap coverage from the lender when you finance your vehicle.
- Not every state provides accident forgiveness.
With accident forgiveness, you are shielded from premium rate hikes following your first accident for which you are at fault. Accident Forgiveness may be earned or purchased from GEICO in most states, although it is not available in all. Accident Forgiveness is not available to California, Connecticut, and Massachusetts residents.
- Finding a local agency might be challenging.
Although GEICO has some insurance agents, it has significantly fewer than many of its competitors since it concentrates mostly on facilitating online purchases. It may be difficult to do if you require individualized assistance and wish to contact a local agent.
Is GEICO Car Insurance A Worth Insurance to Get?
GEICO car insurance is an excellent insurance provider for most people. Moreover, it may be appropriate for you if you are looking for cheap auto insurance coverage and are comfortable managing your own accounts online when an adviser is unavailable.
To sum up, GEICO car insurance is an excellent and reasonably-priced option for a diverse group of individuals seeking mostly online insurance services. You may obtain a quotation online, via the app, or over the phone. Moreover, you can buy your insurance online without speaking with an agent. Significantly, the firm offers a variety of discounts and insurance products, including renters and pet insurance.