GEICO vs. State Farm: Best Auto Insurance for 2021
When comparing GEICO vs. State Farm auto insurance, State Farm is cheaper in most categories. However, GEICO is cheaper if you have bad credit, an accident, or a speeding ticket. Although GEICO and State Farm have a similar customer satisfaction rating, GEICO has a higher A.M. best rating. Add the multiple car insurance discounts available to lower your GEICO vs. State Farm quotes.
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UPDATED: May 17, 2021
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- State Farm is less expensive than GEICO in most categories.
- GEICO is cheaper if you have poor credit or blemishes on your driving record.
- GEICO has higher financial ratings than State Farm.
You have a lot of automobile insurance choices; comparing them head to head can help you make a decision. In this article, we'll look at GEICO vs. State Farm auto insurance to see which one might best serve your needs.
We're going to compare the rates, discounts, and ratings of these two auto insurance companies so you have all the information you need to choose.
Before you review GEICO vs. State Farm, enter your ZIP code above to compare free auto insurance quotes from multiple companies near you.
Is GEICO auto insurance or State Farm auto insurance cheaper?
Many different factors determine your auto insurance rates, including age, gender, marital status, driving record, and credit score. Looking at some of these factors can help you determine just how affordable GEICO vs. State Farm auto insurance would be for you.
First, take a look at this table to see how much your age, gender, and marital status affect GEICO vs. State Farm auto insurance rates.
|Age, Gender, and Marital Status||GEICO Average Annual Rates||State Farm Average Annual Rates|
|Single 17-year-old female||$5,405.23||$4,875.91|
|Single 17-year-old male||$5,955.63||$6,130.77|
|Single 25-year-old female||$2,312.93||$1,979.45|
|Single 25-year old male||$2,171.06||$2,176.45|
|Married 35-year-old female||$2,253.30||$1,734.93|
|Married 35-year-old male||$2,237.96||$1,734.93|
|Married 60-year-old female||$2,107.40||$1,558.06|
|Married 60-year-old male||$2,188.44||$1,558.06|
GEICO is cheaper for 17-year-old males, but State Farm is cheaper for all other ages.
One of the most important factors is going to be your driving record. If you have accidents, tickets, or DUIs, you will pay a higher price for auto insurance.
|Driving Record||GEICO Average Annual Rates||State Farm Average Annual Rates|
|With 1 accident||$3,192.77||$3,396.01|
|With 1 DUI||$4,875.87||$3,636.80|
|With 1 speeding violation||$2,645.43||$3,186.01|
Although State Farm is cheaper if you have a DUI, GEICO is cheaper if you have a clean driving record, one accident, or one speeding ticket.
You might be surprised to learn that your credit score can also affect your car insurance rates. Insurance companies believe that you are more likely to avoid filing a claim and pay out of pocket for damages if you have a higher credit score.
|Credit History||GEICO Average Annual Rates||State Farm Average Annual Rates|
State Farm is the cheapest unless you have poor credit. Keep in mind that some state states, such as California, no longer allow insurance companies to consider credit scores when determining rates. Make sure to check your local insurance laws before selecting a policy.
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Does GEICO or State Farm have better auto insurance discounts?
Car insurance discounts like multi-vehicle and good student discounts are a great way to lower your rates. And many companies allow you to combine multiple discounts to save even more.
Take a look at this table that shows you discounts available from State Farm vs. GEICO. If the amount of the discount is known, that information is included.
|Auto Insurance Discounts||GEICO (%)||State Farm (%)|
|Daytime Running Lights||1||N/A|
|Seat Belt Use||15||N/A|
|Students & Alumni||x||N/A|
Although both companies offer many of the same discounts, there are some differences. For example, GEICO offers a family legacy discount and State Farm does not. However, State Farm offers a discount for being married and GEICO doesn't.
When you compare State Farm vs. GEICO quotes, take into consideration any discounts you might be eligible for.
How does GEICO vs. State Farm compare in financial strength and customer satisfaction?
A.M. Best ranks insurance companies on their financial stability. It gives GEICO an A++ ranking, and State Farm gets an A+ ranking. Both companies have a superior ability to meet their financial obligations.
The Better Business Bureau gives GEICO an A+ rating. However, State Farm is not rated.
J.D. Power ranked GEICO and State Farm on customer satisfaction based on pricing, billing, claims, and what is offered by each company. Both companies scored above average for most regions in the U.S.
Both companies offer easy-to-use websites and mobile apps that allow you to access your account at any time. You can also get a free GEICO or State Farm quote through the websites.
Each company also offers additional products and services; for example, you can get roadside assistance and renters insurance. Read our GEICO review and our State Farm insurance review to learn more about the types of insurance each company offers.
Think about the rates, discounts, and ratings we discussed as you decide whether to buy GEICO vs. State Farm auto insurance. Consider looking at additional companies to see which is the best fit for you.
Now that you’ve finished this GEICO vs. State Farm auto insurance review, enter your ZIP code to compare quotes from multiple companies near you for free.