GEICO Insurance Review 2022 

Is This Insurance Giant the One for You? | ⭐️⭐️⭐️⭐️

TLTR: Agency Height here presents a brief review of GEICO insurance. We outline the pros and cons of choosing GEICO as your insurance carrier. By the end, we think you’ll have a good idea of whether GEICO is right for you. 

GEICO Insurance Reviews – Our Thoughts

GEICO (The Government Employees Insurance Company) is one of the top insurance companies that come to mind when someone says “insurance.” You probably know the company through its beloved GEICO Gecko®. GEICO is mostly popular for its auto insurance policies. In fact, they insure more than 30 million vehicles, according to their company’s website data. 

In this blog

About GEICO

GEICO is a private insurance company headquartered in Chevy Chase, Maryland. GEICO—The Government Employees Insurance Company—initially targeted federal employees and military personnel. Today, its reach goes beyond the United States, with locations in the U.K., Belgium, Germany, Spain, and Italy.  

GEICO was founded in Fort Worth, Texas in 1936 by Leo and Lillian Goodwin amid the Great Depression. Over time, GEICO attracted a pool of investors with notable figures like Warren Buffet, who bought GEICO stock in 1951.  

Roughly three decades after its establishment, the company hit its 1 million policies-in-force (PIF) mark in 1964. As of 2019, GEICO has passed the 17 million PIF mark. 

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Pros & Cons of Choosing GEICO 

Pros

Cons

  • Excellent ratings from credible organizations
  • Second largest auto insurance company in the U.S. after state farm
  • Attention to customization of policies tailored to your individual needs
  • Wide coverage options under 1 umbrella
  • User-friendly, detailed website interface
  • Very affordable premiums for low-risk customers
  • Variety of discounts
  • Broad reach with insurance products in all 50 states
  • Experience and credibility
  • Reportedly, can be difficult to reach
  • Automated chats are off-putting for those seeking human conversation
  • Website may be overwhelming for some
  • Policy rates are high for those with poor credit or DUIs
geico insurance statistics

Image: GEICO Insurance Statistics

GEICO Products 

GEICO is primarily positioned as a car insurance company. It describes itself as an insurance company for your car and more.  

GEICO offers policies in four categories: vehicle insurance, property insurance, commercial insurance, and miscellaneous insurance options. Let’s take a closer look at what each of the categories includes:

Vehicle Insurance

Property Insurance

Commercial Insurance

Progressive Other/ Miscellaneous Insurance Options Rating

  • Auto Insurance 
  • Motorcycle Insurance 
  • RV Insurance 
  • ATV Insurance 
  • Boat Insurance 
  • Personal Watercraft Insurance 
  • Snowmobile Insurance 
  • Collector Car Insurance 
  • Mexico Car Insurance 
  • Homeowners Insurance 
  • Renters Insurance 
  • Condo Insurance 
  • Co-op Insurance 
  • Landlord Insurance 
  • Flood Insurance 
  • Mobile Home Insurance 
  • Commercial Auto Insurance  
  • Business Owners Policy (BOP) 
  • General Liability Insurance 
  • Professional Liability Insurance 
  • Workers Compensation  
  • Medical Malpractice Insurance 
  • Cyber Liability Insurance 
  • Life Insurance 
  • Umbrella Insurance 
  • Overseas Insurance 
  • Identity Protection 
  • Pet Insurance 
  • Jewelry Insurance 
  • Travel Insurance 
  • Cell phone Insurance 
  • Special Event Insurance 
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GEICO Insurance Reviews And Ratings

A Sampling of Customer Reviews

Now, let’s look at what their customers have to say about GEICO. 

Reviews

Rating

I want everyone to know that since switching to GEICO, I’ve saved $100 each month on auto insurance. In today’s economy, $100 can be used for a variety of purposes. I’m really pleased with the quality of the service and the premium. I also switched my home insurance and saved $200 per year.   ⭐️⭐️⭐️⭐️⭐️ 
The customer service representative who assisted me with obtaining insurance for my husband’s motorcycle was highly knowledgeable and helpful. The online quote process was simple and painless. 

 ⭐️⭐️⭐️⭐️ 

 

It’s difficult to reach humans over the phone. I spent a half-hour on hold, waiting for an insurance agent to answer a simple question. My declarations page and invoice should have both included the answer to my questions.   ⭐️⭐️⭐️ 
Geico is one of the few companies where the phrase “we value the client” isn’t just a statement on the website. Every claim and engagement with Geico have left me impressed, and there is nothing more they could have done to make my experiences as pleasant as possible. Insurance isn’t the type of service I’d expect to have strong brand loyalty, but they’ve managed to do so. 

 ⭐️⭐️⭐️⭐️⭐️ 

 

The method for paying insurance premiums online and setting up automatic payments is not user friendly. I spent too much time trying to figure out how to make online payments and set up automatic payments. 

 ⭐️⭐️ 

 

Thank you to whoever came up with the concept for the “Happy Half-Birthday” email – it was the cutest email I’ve ever received from a company, and it sure made me smile!!   NA 

 

Sources: Google, GEICO Facebook Comments, GEICO Website Reviews, Yelp 

Source: GEICO 

A Sampling of Third-Party Reviews

GEICO Rating

Source/Organization

A+  Better Business Bureau (BBB) 
A++ Financial Strength  A.M. Best 
AA+ Corporate Credit Rating   Standard and Poor’s (S&P) 
Aa1 Insurance Financial Strength  Moody’s 
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The above ratings indicate that GEICO has good business practices and a superior ability to fulfil insurance claims obligations. 

GEICO Insurance Discounts 

Discount Categories

Sub-Categories

Car Insurance Discounts 

  • Vehicle Equipment 
  • Driving History & Habits 
  • Driver’s Education 
  • Driver Affiliations 
  • Customer Loyalty 

Multi-Policy Discount 

  • Home and Auto Insurance 
  • Renters and Auto Insurance 
  • Multi-vehicle policy 

Membership and Employee Discounts 

For GEICO partner organizations like  

  • Alumni Associations 
  • Professional Organizations 
  • Fraternities 
  • Sororities, etc. 

Military Discount 

  • Emergency Deployment Discount 
  • Membership Discount 

Federal Employees Insurance Discounts 

  • Eagle Discount 
  • Membership Discount 

Student Discount 

  • For College and High School Students 

Defensive Driving Discounts 

 

Discounts for Seniors & Drivers Over 50 

 

Conclusion

Overall, we rate GEICO very positively. With a large customer base and a lot of experience, GEICO definitely has the makings of a great insurance carrier.  

GEICO has a rich history dating back to the 1930s and over the years has had its share of ups and downs. The company has set industry standards and overcome many challenges to be one of the top insurance companies in 2022. It’s safe to say that you will be in good hands with GEICO!  

GEICO can be a trusted choice for all your policy needs, including auto insurance, bundling auto and home insurance, or other policies you might want all under one roof. However, only you can determine what’s best for you! If you want to learn more about other U.S. carriers or have more questions, get in touch with us today.  

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Frequently Asked Questions

Is Geico insurance a good company?

It’s excellent, especially for auto insurance. It’s the second largest insurance company in the U.S., and offers one of the cheapest premiums while providing top-notch customer service. 

How quickly does GEICO pay claims?

GEICO says they can settle your claims in 48 hours if all goes well. A lot goes into the claims settlement process, and GEICO is committed to making your claims process as hassle-free as possible.  

How long has Geico been in business?

As of 2022, Geico has been in business for 86 years.

Are Geico insurance rates competitive?

Very much so. GEICO is one of America’s cheapest insurance carriers. For example, GEICO’s car insurance can cost as little as $42 a month, and $506 a year.  

Is Geico good at settling claims?

GEICO is one of the best insurance companies with top-notch customer service. They are very good at settling claims and conducting the necessary investigations. 

Agency Height is an insurance platform connecting insurance agents with clients. We aim to make life easier for buyers and sellers of insurance.  We also provide support and guidance to independent insurance agents in the U.S. to grow and strengthen their digital presence. 

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