State Farm and GEICO are top players in the insurance industry, and each insurance giant has its share of strengths and weaknesses.
State Farm has cheaper rates overall and ranks higher for customer service in various categories. On the other hand, GEICO has more discount opportunities to lower your insurance rates.
The best car insurance company for you will depend on its affordability, customer service, discounts, and coverage options. You can learn more about each of these insurers here.
State Farm beats GEICO in offering budget-friendly prices for most drivers. But GEICO has more discounts, which may result in lower premiums depending on which ones you qualify for.
State Farm also outshines GEICO in customer experience. It received higher ratings in the J.D. Power 2023 claims satisfaction and customer satisfaction studies.1 It also has fewer complaints on the National Association of Insurance Commissioners (NAIC) complaint index.2
Additionally, State Farm’s insurance agent network is more comprehensive than GEICO. This means less waiting times and more personalized assistance. However, State Farm and GEICO’s insurance products are limited.
GEICO is the third-largest auto insurance company by market share in the U.S.3 It’s known for its affordable rates and strong financial strength ratings.
State Farm is the largest auto insurer in the U.S. It offers competitive rates and has high marks for claims and customer satisfaction.
State Farm and GEICO advertise telematics programs through mobile apps that reward policyholders for good driving.
State Farm customers get a discount of up to 30% on their policy for good driving. On top of that, drivers get automatic savings just for enrolling. In contrast, GEICO offers a discount of up to 25% for good driving and a 15% discount for signing up.
However, participation in GEICO’s usage-based insurance program is mandatory. GEICO may also increase your rates for poor driving habits tracked by the app, while State Farm won’t.
GEICO and State Farm’s rates are cheaper than the national average monthly rate of $143. State Farm has more affordable liability-only insurance coverage, at $56 per month, while GEICO offers its liability policies at $97 per month. Keep in mind that you’ll see different rates on your policy depending on factors like your age, gender, location, and driving history.
Drivers with a clean driving record get the best rates on their policy. State Farm is cheaper for people with a clean driving record. Here, you can see how rates for full coverage compare between these two insurers.
Drivers with a speeding ticket pay higher rates than drivers with clean records. State Farm is the cheaper auto insurance company for people with a speeding ticket.
Here, you can see the full-coverage rates from both companies.
Teen drivers pay the highest auto insurance rates compared to other age groups. GEICO is the cheaper option for young drivers. Here, you can see the average full-coverage rates from both insurers.
Drivers with a bad credit score see increased premiums on their car insurance policy in states where insurers are allowed to factor in credit history when setting rates. GEICO is cheaper for drivers with poor credit.
Drivers in their 60s typically pay the lowest rates for car insurance, which tend to increase again in their 70s. State Farm is cheaper for senior drivers.
State Farm and GEICO offer these standard auto insurance coverages:
In addition to those standard coverages, consider these add-ons for more protection.
While GEICO offers higher rates, it has more discounts. If you qualify for its discounts, you may see lower rates on a GEICO insurance policy than a State Farm policy.
Here are the most asked questions about GEICO compared to State Farm car insurance.
Yes. State Farm is larger than GEICO in personal auto insurance, according to NAIC data. State Farm has $46 billion in direct premiums written. In contrast, Berkshire Hathaway Group (GEICO’s parent company) has $38 billion in direct premiums written.
GEICO is more expensive than State Farm overall, but GEICO offers more discount opportunities. The company also has lower rates for teen drivers and drivers with bad credit scores.
It depends. State Farm is the best option for customer service and affordable prices overall. In comparison, GEICO is the better choice for its discount opportunities and cheap rates for younger drivers and drivers with poor credit.
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