Insights
Geico
- Overall rating- 3.5/5
- Customer service- 4/5
- Average car insurance rate for full coverage- $1,304
- Online services/mobile app- Available
State Farm
- Overall rating- 4/5
- Customer service- 4/5
- Average car insurance rate for full coverage- $1,515
- Online services/mobile app- Available
Geico is an insurance company that has more than 17 million auto policies in force and is growing. Starting in 1936, Geico insures more than 28 million vehicles.
State Farm is a mutual auto insurance company that has been in business since 1922. It offers about 100 products and provides insurance policies to 85M people across the U.S.
Geico vs State Farm: Average annual rate for full coverage
Geico is the best option for drivers looking for affordable auto insurance. Its average annual rate for full coverage is $1,304. Whereas State Farm offers a full coverage auto insurance policy for an average of $1,515 a year.
The rates Geico offers for state minimum coverage is $368 per year and average annual rate for state minimum coverage is $495 annually from State Farm.
| Company | Average annual rate for full coverage | Average annual rate for state minimum coverage |
|---|---|---|
| Geico | $1,304 | $368 |
| State Farm | $1,515 | $495 |
Geico vs State Farm: Rates by driving profile
State Farm has cheap car insurance rates for drivers with at fault property damage accident, speeding ticket, DUI/DWI conviction, reckless driving, speeding or careless driving on their recent driving record.
The price of auto insurance can vary greatly after a traffic violation depending on the provider, so make sure you do your research and compare prices before choosing an insurer.
| Profile Value | Geico | State Farm |
|---|---|---|
| 1 At-fault property damage accident over $2K | $2,273 | $1,676 |
| 1 At-fault property damage accident under $2K | $2,242 | $1,657 |
| At-fault bodily injury accident | $2,300 | $1,708 |
| Careless driving | $1,662 | $1,597 |
| DUI/DWI first offense | $3,138 | $1,922 |
| Reckless driving | $2,623 | $1,798 |
| Speeding | $2,049 | $1,579 |
Geico vs State Farm: Rates by age
Compared to State Farm, Geico is the most affordable auto insurance company for drivers of every age group. Geico offers full coverage insurance for teens at about $4,042 a year, whereas a full coverage policy from State Farm costs an average of $4,217 per year. Young drivers pay more for car insurance than adult and senior drivers because they have less experience on the road and are more likely to file claims on their insurance policy.
| Age | Company Name Geico | Company Name State Farm |
|---|---|---|
| Adults | $1,298 | $1,500 |
| Seniors | $1,359 | $1,377 |
| Teens | $4,042 | $4,217 |
| Young Adults | $1,913 | $2,530 |
Geico vs State Farm: Which is better for discounts?
The best way to save money on car insurance is by taking advantage of the discounts offered by insurance companies. Both Geico and State Farm offer a wide variety of discount options and they are-
- Multi-vehicle discount
- Good student (Academic achievement)
- Driver training / Defensive driving
- Passive-restraint (air bag)
- Safe driver / clean driving record / good driver
- Multi-policy discount
Customer service/satisfaction
Both Geico and State Farm earned 4 out of 5 stars for customer service, based on a survey by Insurance.com. Geico and State Farm's great customer service sets them apart and ranks them as one of the best companies for auto insurance in the United States.
Claims filing process
Geico and State Farm are both leaders in the insurance industry. They both offer easy online claims filing, as well as mobile apps that can be used for filing your claim on-the-go. However, State Farm has a better track record when it comes to claims filing process. State Farm has earned 4 out of 5 stars for offering trouble-free claims filing process, whereas Geico has earned 3.5 stars out of 5.
Mobile/Online Experience
Geico has a mobile application that you can download to have access to 24/7/365 customer service, ID Cards, bill pay, roadside assistance and much more. It also offers options like adding a vehicle, go paperless, make a payment, and get your ID card.
State Farm also offers price quotes online. You can go digital and enjoy services like
- Insurance bill payment
- Enroll in AutoPay
- Go paperless
- Get your insurance ID card
Besides, you can also file and track a claim online with State Farm's website and mobile application.
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