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Geico Insurance Full Coverage Cost

GEICO Review

  • Broad supplemental coverage options with extensive discounts
  • Strong financial ratings from A.M. Best, Standard & Poor’s, and Moody’s
  • High claims satisfaction from J.D. Power
  • No. 1 ranked mobile app in Forrester’s 2017 U.S. Mobile Auto Insurance Benchmark

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  • March 23, 2018 – We’ve taken another look at this review and added information about GEICO’s standout features and resources. We’ve also provided further context regarding GEICO’s discounts and added a section exploring a recent lawsuit filed against the insurance company.
  • January 12, 2018 – We’ve updated our review based on the latest ratings from credit agencies and consumer studies — GEICO continued to score highly in both. Combined with solid coverage offerings and a variety of discounts, GEICO impressed us enough to claim the top spot in our review of the Best Auto Insurance. But we’ll continue to update both pages to maintain consistency with any future research.

Strong financial ratings and high claims satisfaction make GEICO a great option for anyone looking for auto insurance. Despite lacking some niche coverage options, GEICO offers extensive discounts that may translate to the lowest quote in town.

Our GEICO Review

As the nation’s second largest auto insurer, GEICO boasts an impressive range of coverage options and discounts, with strong financial solvency and high claims satisfaction that guarantee the company’s ability to keep you covered when the unexpected happens. GEICO also places great emphasis on technology with its highly rated mobile app, making filing claims and viewing your policy as easy as pulling out your phone.

GEICO doesn’t have all the additional coverage options we’d like to see from such a prominent insurer — notably missing are GAP coverage, which pays the difference between the value of your wrecked vehicle and the amount still owed on its loan, and new car replacement. But the available coverage more than satisfies our asks. Combined with the second-most discounts of all our top insurers, GEICO’s policies will likely be more than enough to fit the average car owner’s needs.

GEICO claims that “15 minutes could save you 15% or more on car insurance.” Lots of insurance companies emphasize the ease of getting a quote, but if you’re saving big, we think it’s worth the extra time. We ditched the 15 minutes part and decided to focus on the savings potential to see if GEICO could actually back up its memorable tagline.

Is it True?

With more discounts than any of our favorite insurers besides Travelers, GEICO has big savings potential — if you qualify. Just like the factors that go into your premium, the discounts you’re eligible for will vary based on who you are. Students covered under GEICO, for example, can save up to 15% if they maintain a B average or higher, while drivers over 50 can see savings up to 10% just for completing a defensive driving course. GEICO is also the only insurer from our top picks to offer a discount for members of the military.

With GEICO, it pays to be a safe driver, and having a car equipped with the latest safety features can amplify those savings. Driver-side air bags can offer savings up to 25%, and if your vehicle has full-front seat air bags, you can save as much as 40% on your policy. GEICO also rewards cars with anti-lock brake and anti-theft systems, as well as daytime running lights. Many of these features come standard in newer cars, so if you’ve recently purchased a new vehicle, you may be eligible for significant savings. While you certainly won’t qualify for all of the discounts GEICO has to offer, a broad range of deductions means you have more chances to save, and most drivers will be able to find some discounts they qualify for. Depending on your eligibility, 15% may be just the beginning of the savings you’ll see from switching to GEICO.

Full coverage car insurance

No insurance policy can cover you and your car in every circumstance. But a ‘full coverage’ policy covers you in most of them.

Insurance is meant to protect you from being sued, or left financially stranded by a totaled car, or ruined by an uninsured driver. That doesn’t mean an accident won’t leave you with expenses and hassles you wouldn’t face otherwise.

Full coverage is shorthand for policies that cover not only your liability but damage to your car as well. Here’s how to weigh liability vs. full coverage.

What is full coverage?

To most drivers, “full coverage” means you have bought not only liability insurance – which is mandatory virtually everywhere and pays for the damage you inflict on other people and property – but comprehensive and collision, too.

Ideally, full coverage means you have insurance in the types and amounts that are appropriate for your income, assets and risk profile. The point of all types of car insurance is to keep you from being financially ruined by an accident or incident.

Of course, you can buy a policy with every conceivable option:

  • The highest available liability limits (usually $250,000 per person bodily injury, $500,000 per accident, $100,000 property damage)
  • The lowest possible deductible on collision and comprehensive coverage. At some companies, it’s $0, but $100 and $250 are common.
  • Uninsured motorist coverage
    • Uninsured/underinsured motorist bodily injury coverage with limits matching your liability coverage
    • Uninsured motorist property damage (not available in all states)
  • All available medical coverages in the highest amounts possible (personal injury protection in no-fault states and medical payments coverage in most others)
  • Rental reimbursement coverage
  • Towing and labor
  • Preferred-customer add-ons such as new car replacement programs or vanishing deductibles

In reality, there is no policy that will cover you and your car in every situation, just most of them.

What does full coverage insurance cover

A typical full coverage policy (liability, comprehensive and collision, uninsured motorist and medical coverage) should cover:

  • The damage you do to others, up to your liability limits.
  • Your car, up to its fair market value, minus your deductible, if you are at fault or the other driver does not have insurance or if it is destroyed by a natural disaster or stolen.
  • Your injuries and those of your passengers, if you are at fault, up to the amount of your medical coverage.
  • Your injuries and yours of your passengers, if you are hit by an uninsured motorist, up to the limits of your uninsured motorist policy.

Typical full coverage insurance won’t pay for:

  • Racing or other speed contests
  • Off-road use
  • Use in a car-sharing program
  • Catastrophes such as war or nuclear contamination
  • Destruction or confiscation by government or civil authorities
  • Using your vehicle for livery or delivery purposes; business use
  • Intentional damage

Typical comprehensive and collision policies won’t cover:

  • Freezing
  • Wear and tear
  • Mechanical breakdown (often an optional coverage)
  • Tire damage
  • Items stolen from the car (those may be covered by your homeowners or renters policy, if you have one)
  • A rental car while your own is being repaired (an optional coverage)
  • Electronics that aren’t permanently attached
  • Custom parts and equipment (some small amount may be specified in the policy, but you can usually add a rider for higher amounts)

Do I need full coverage?

You are required to have liability insurance or some other proof of financial responsibility in every state. Coverage comes in varying levels, from the mandatory minimum to as much as $500,000. You as a car owner are on the hook personally for any injury or property damage beyond the limits you selected. Your insurance company won’t pay more than your limit.

But liability coverage won’t pay to repair or replace your car. If you owe money on your vehicle, your lender will require that you buy collision and comprehensive coverage to protect its investment. After you pay off the loan, the choice to buy comp and collision is yours alone.

We have our own rules of thumb on insuring any car:

  • When the car is new and financed, you have to have full coverage. Keep your deductible manageable.
  • When the car is paid off, raise your deductible to match your available savings.
  • When you reach a point financially where you can replace your car without the assistance of insurance, seriously consider dropping comprehensive and collision.

Use Insurance.com’s online car insurance calculator to get our recommendation of what car insurance coverage you should buy. It’ll also recommend deductible limits or if you need coverage for uninsured motorist coverage, medpay/PIP, and umbrella insurance.

How much does full coverage cost?

Car insurance rates are very specific to the person who owns the car: Your age, driving record, credit history and location count as much as the kind of car you are driving. Rates also vary by hundreds of dollars from company to company. That’s why we always suggest, as your first step to saving money, that you compare quotes.

Here’s a comparison of the average yearly cost of the following coverage levels, by state:

  • State-mandated minimum liability, or, bare-bones coverage needed to legally drive a car
  • Liability coverage of $50,000 for those injured in an accident you cause, up to $300,000 per accident, and $50,000 for property damage you cause
  • Full coverage liability of $100,000 per person injured in an accident you cause, up to $300,000 per accident, and $100,000 for property damage you cause, with a $1,000 deductible for comprehensive and collision
  • Full coverage iability of $100,000 per person injured in an accident you cause, up to $300,000 per accident, and $100,000 for property damage you cause, with a $500 deductible for comprehensive and collision
  • Full coverage liability of $100,000 per person in an accident you cause, up to $300,000 per accident, and $100,000 for property damage you cause, with a $250 deductible for comprehensive and collision

Geico Insurance Review 2018: Complaints, Ratings and Coverage

Geico reviews and ratings

  • Complaints against Geico are lower than the industry median.
  • Customer satisfaction ratings are average or higher
  • Website and mobile app have a wide array of features tech-savvy customers may appreciate

Geico is the nation’s second-largest auto insurance company, known primarily for low rates offered directly to consumers online and over the phone. If you’re looking for an affordable car insurance policy and you’re comfortable managing your own accounts online when an agent isn’t nearby, Geico might be right for you.

Auto insurance rating

Geico ranked 13th out of 23 insurers in NerdWallet’s ranking of the best car insurance companies , earning 4 stars out of 5 for overall performance. NerdWallet’s rating is a score based on:

  • J.D. Power ratings for customer service, claims satisfaction and shopping satisfaction
  • Consumer Reports customer satisfaction ratings
  • Consumer complaints against the insurer, based on data from the National Association of Insurance Commissioners

Customer satisfaction

  • Geico ranked among “about average ” for overall purchase experience for auto insurance in J.D. Power’s 2017 U.S. Insurance Shopping Study
  • It ranked “ better than most ” for overall customer satisfaction in J.D. Power’s 2017 Auto Claims Satisfaction Study

Complaints

Geico had fewer complaints about auto insurance to state regulators than the industry median in 2017 relative to its size, according to the latest data from the National Association of Insurance Commissioners.

Financial strength: A++ (“superior”)

Geico’s financial strength is “superior,” according to ratings agency A.M. Best. The financial strength rating for an insurer indicates how well it can pay claims.

Auto insurance rating

Geico ranked 13th out of 23 insurers in NerdWallet’s ranking of the best car insurance companies , earning 4 stars out of 5 for overall performance. NerdWallet’s rating is a score based on:

  • J.D. Power ratings for customer service, claims satisfaction and shopping satisfaction
  • Consumer Reports customer satisfaction ratings
  • Consumer complaints against the insurer, based on data from the National Association of Insurance Commissioners

Customer satisfaction

  • Geico ranked among “about average ” for overall purchase experience for auto insurance in J.D. Power’s 2017 U.S. Insurance Shopping Study
  • It ranked “ better than most ” for overall customer satisfaction in J.D. Power’s 2017 Auto Claims Satisfaction Study

Complaints

Geico had fewer complaints about auto insurance to state regulators than the industry median in 2017 relative to its size, according to the latest data from the National Association of Insurance Commissioners.

Financial strength: A++ (“superior”)

Geico’s financial strength is “superior,” according to ratings agency A.M. Best. The financial strength rating for an insurer indicates how well it can pay claims.

Geico auto insurance

In addition to typical car insurance coverage choices, Geico offers:

Mechanical breakdown coverage: This covers repairs to all mechanical parts of a new car, up to 15 months old and with less than 15,000 miles, except problems caused by wear and tear. There’s a $250 deductible. Mechanical breakdown coverage is renewable for up to seven years or 100,000 miles and does not pay for regular maintenance such as tune-ups.

Emergency roadside assistance: For as little as $14 a year per car, you can add emergency roadside assistance coverage, which can help if you have a dead battery, lock yourself out of your car, or need gas or a tow.

Auto Repair Xpress is meant to make life easier while your car is in the shop as the result of a claim. A claims adjuster will meet you at the repair shop , explain the repair process and answer any questions. If you have rental reimbursement in your policy, Geico will pay for a rental car you pick up at the repair shop and drop off there when your car is ready , although it’s not available in all areas.

Ridesharing insurance: If you drive for a company such as Uber or Lyft, this option allows you to have one policy that covers both personal and ridesharing use. You can replace your existing auto policy with this hybrid insurance on the ridesharing vehicle only, but this option is not available in every state.

Other insurance from Geico

  • Motorcycle insurance
  • ATV insurance
  • Umbrella insurance

Geico offers other insurance products, such as home insurance, through partner companies. When you buy a policy from one of these third parties through Geico, the company offers discounts on its car insurance — but you’ll still have to deal with multiple insurers.

More about Geico

Website: You can learn about and get a quote for almost any type of insurance through Geico’s website, and submit a claim or make a payment. The site also has a feature to help you find the nearest cheap gas station.

Mobile app: Geico’s mobile offering is full-service: It helps you keep track of your policy and billing details, access your digital auto insurance ID card, pay bills and submit claims. You can also use the app to chat by text with an agent or request roadside assistance.

Virtual assistant: Geico’s virtual assistant Kate is a newer feature of its existing app for iOS and Android users that can answer your insurance questions and provide specific policy information. Your Geico account is also now accessible as a skill for Amazon’s Alexa.

How Much Does Full Coverage Car Insurance Cost?

updated: Feb. 14, 2018 –

Because the cost of car insurance can vary dramatically from driver to driver, the best way to find out how much full coverage costs in your area is to enter your zip code in our QuoteScout™ search engine. It’s completely free to use and will quickly help you find accurate auto insurance rates for your unique driving situation.

Find the Cheapest Auto Insurance in Your Area

How to Find the Best Price

Your key to finding the best full coverage policy is not to adapt your budget to the market, but to adapt the market to your budget. There are plenty of insurance offers to choose from. It’s just a matter of finding the right policy and price for you.

Generally speaking, the more diligent you are at gathering quotes, the better chance you will have to find the lowest price available. The best strategy is to not only gather online quotes, but to also speak directly with an agent to see if they can offer you an even lower monthly rate for the same level of coverage. Our agents would be happy to help you: 1 (866) 443-5206

Deciding Your Level of Coverage

As you request quotes, you will select the services you think you need and the ones you think can do without. It goes without saying that each extra added service will raise your monthly premiums. However, not all of them cost the same, so you will always need to customize your policy. The goal is to design an insurance policy that works best for you in your specific situation, both in terms of the amount of coverage you have and affordability.

Average Cost for Full Coverage Car Insurance?

According to the National Association of Insurance Commissioners , the USA average for a full coverage policy is $74.03 per month*. However, how much a full coverage policy will cost you will most likely vary quite a bit above or below the average depending on many factors.

The driver always plays an important role in establishing the price of a policy. Insurance companies will always try to determine how much of a risk you are, i.e. how likely you are to be involved in an accident where they would have to pay. They will look closely at your driving history. DUIs, speeding tickets and previous accidents are sure to increase your premium significantly. Other factors such as your age, gender, experience, the make of your car and where you live also play a role based on statistics of drivers that fit your description.

These additional variables mean that you and a friend can go to the same company and buy the same full coverage auto insurance policy with the same services on it and your premiums will be different. This makes it difficult to establish the true price of a policy without getting a full quote.

In order to find the company offering the best deal, the important thing is to get as many quotes as possible for the same level of coverage.

Luckily getting online quotes is not a hard thing to do. Just enter your basic information in our QuoteScout™ search engine to get started.

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