Last Updated: September 9, 2022

GEICO Insurance or Renegade Insurance: Which is the Right Choice for Agents?

TLTR: GEICO Insurance and Renegade Insurance are two notable players in the insurance market. Here, we will look at how they compare with each other, and you can gain insights into the difference between being a GEICO agent and a Renegade Insurance agent. 

GEICO and Renegade Insurance work differently but compete within the insurance arena. Does one have better advantages over the other? Does a GEICO insurance agent have significant advantages over a Renegade Insurance agent? Here, we shall take an educated look and find out. 

GEICO has been in the market since 1936 while Renegade Insurance is comparatively new. However, both have made an impact on the insurance industry with their independent insurance agency.  

Let’s look at GEICO and Renegade Insurance and what they can offer their agents. 

In this blog

Who Is GEICO Insurance?

Government Employee Insurance Company (GEICO) operates as a captive insurance agency. As the third-largest direct auto insurance provider in the United States, GEICO allows its local agents to sell only GEICO products and products from partner companies. 

When you become a GEICO insurance broker, the franchise offers you top-notch advertising and the resources and technology you need to get your firm up and running quickly. All their new agents receive training and customized PCs to help them with sales and service


How do GEICO Insurance Agents Make Money?

A GEICO insurance agent is paid commissions on both new and re-purchased business. On new business and renewals up to two years, their local agents earn 12 percent and 5 percent, respectively. These numbers are quite close to the industry standard, but the agents are left with little to no residuals.

How Does GEICO Make Money?

GEICO is a company that makes money in many different ways. For example, agents for GEICO can start their own agency and earn premiums from it through an agreement with GEICO itself. Agents also sell various types of products like cars or homeowners’ policies to consumers on behalf of this same company- which again brings revenue back into GEICO. 

Hence, as a captive agency, a GEICO insurance agent pays anything between $100,000 to $250,000 depending on the economy. The cost includes office leases, phone services, employees, advertising, and other office tools and supplies. The initial payment is a non-refundable one-time fee. However, GEICO sells insurance policies directly to its customers, which conflicts with GEICO insurance agent’s client market.  

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How Wide is Geico Insurance’s Market?

GEICO offers both personal and commercial insurance. It maintains 18 major offices across the country, including locations in all 50 states. GEICO insurance brokers are also located throughout the U.S., despite the fact that most of their business is done online or over the phone.  

Their agents are limited in their ability to retain customers. GEICO and their partnered agencies are the only sales options for local insurance agents. Agents who want to open a local agent office require prior approval from GEICO, as the company maintains a list of permitted markets for strategic reasons.  

Other insurance products and services of GEICO 

  • Provides outstanding tools for marketing 
  • GEICO local agency program 
  • Assistance for local advertising 
  • Employees assistance with training and insurance skills. 

Who is Renegade Insurance?

Renegade Insurance began its operation in 2018. The company has a list of notable investors, which further encourages its motto to be a disruptive force in the insurance industry. 

Renegade Insurance is ready to provide their independent agents with everything they need to make a difference in their clients’ life with cutting-edge plug-and-play insurance technology and an impressive carrier list. Renegade isn’t a captive agency. Instead, it’s a “you sell, we service” independent insurance agency platform.  


How do Renegade Insurance Agents Make Money?

Renegade Insurance agents also make money through commissions. However, Renegade splits their commissions by up to 80% to 95% on new personnel lines policies. The brokerage offers up to 50% on renewals for personal lines. Similarly, it offers a commission split of 60% on new commercial lines policies and 40% on renewals. 

How Wide is Renegade’s Market?

Renegade agents have access to more than 90 carriers, allowing them to find the best solution for each consumer at a price that fits their budget. It offers its services in 7 states, including Georgia, Florida, Texas, Tennessee, Alabama, North and South Carolina. Renegade is licensed in 48 states and has a variety of business lines available to its agents. In addition to that, the company is also affiliated with multiple MGAs. With Renegade Insurance, the agents are encouraged to compare prices and carriers, cross-sell, and upsell from different lines of insurance. 

Additional products and services provided by Renegade are: 

  • Lead Management Software and Rater 
  • Internal Marketing Team for Lead Source 
  • Client Servicing Assistance 
  • Carrier Wise Book Roll Assistance  
  • Google Business Profile Handling for Agents

How Does GEICO Compare with Renegade?

GEICO has been the industry leader for decades, which means your insurance business will benefit greatly from having a well-known name behind it.  

Their agents agents have the advantage of being able to set up shop in prime locations with the latest in marketing and sales technologies. In contrast, as a GEICO local agent, you won’t be able to work with any other insurance company’s products.  

On the other hand, Renegade operates as a brokerage platform. The company believes in diversification, and has a network of over 90 carriers for their insurance agents. The agents can start their own agency with virtually no investment, and start working remotely. 

GEICO trains, employs, and pays their agents. Renegade also invests heavily in training and educating their insurance agents, with proprietary technology that branches to carrier onboarding, soft skills, and much more. 

In a Nutshell


Renegade Insurance 

GEICO Insurance 

Line of business 

Personal, Commercial 

Personal, Commercial, Life and Health 

Commission splits 

Personal Lines- Starting from 80/20 for new business;  50/50 for renewals 

Commercial Lines- 60/40 for new business; 

40/60 for renewals 

12% on new business and 5% on renewals for up to 2 years 

Number of carriers/ 

90+ carriers and MGAs 


Operating states 

7 states (licensed in 48 states) 


Servicing assistance 



Use of Technology 





Yes (For starting an agency) 


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