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Published: May 30, 2019Last updated: October 21, 2022

GEICO Car Insurance Pricing 2022

Find low premiums from a leading insurance provider.

GEICO provides inexpensive auto insurance for both low- and high-risk drivers. If you have driven without a license, have poor credit, or have a traffic violation on your record, GEICO has coverage options at lower rates than most nonstandard insurers. Read on to learn more about what prices to expect from GEICO, as well as our favorite features.

GEICO Car Insurance Rates 

The average rate from GEICO is $1,194, with a range from $667 to $1,297. Here are how your rates could differ based on your driver profile:

  • Minimum coverage: The average yearly cost for minimum coverage is around $1,064. Typically, minimum car insurance coverage includes liability coverage only (property damage and bodily injury coverage. It does not include uninsured motorists coverage in all states).
  • Full coverage: For full coverage, you will pay about $1,238.
  • For an 18-year-old: With a teen driver on your policy, you’ll pay around $2,578.
  • After a speeding ticket: With a minor traffic violation such as a speeding ticket, you’ll pay $1,611.
  • With a DUI: For a more severe violation, expect to pay $2,857.

CheckNOTE

Everyone’s insurance rates are different. Your driver profile, which determines your rates, is based on your driving record, credit history, age, location and other factors.

Discounts With GEICO

Discount name Discount qualification Potential savings
Air bag If your vehicle has airbags 23%
Anti-lock brakes If your vehicle has a factory installed anti-lock braking system 5%
Anti-theft system If your vehicle has a built-in anti-theft system to prevent car theft 23%
Daytime running lights If your vehicle is has daytime running lights as standard equipment 3%
New vehicle discount If your vehicle is three model years old or newer 15%
Good driver If you’ve been accident-free for five years 22%
Seat belt use If your vehicle has seat belts Varies
Defensive driving If you’ve completed a defensive driving course Varies
Driver’s education course If a young driver in your family has completed a driver’s education course Varies
Good student  If you or a driver on your policy is a full-time student in good academic standing 15%
Emergency deployment If you’re part of an emergency deployment to an imminent danger zone 25%
Federal employee If you’re an active or retired federal employee 12%
Membership & employee If you belong to one of GEICO’s 500+ affiliate groups Varies
Military If you are active duty or retired from the military, or a member of the National Guard or Reserves 15%
Multivehicle If you insure more than one car with GEICO 25%
Multipolicy If you have an auto policy as well as a homeowners, renters, condo, mobile home, or life insurance policy with GEICO Varies1

Favorite Features

Superior Financial Strength

GEICO has an A++ (Superior) financial strength rating from AM Best.2 Financial strength ratings indicate an insurance provider’s ability to pay its customers’ claims. A Superior rating means GEICO has the capital and management capacity to cover customer losses in the event of accidents, necessary for good customer service.

Emergency Roadside Assistance

If you run into issues on the road, GEICO offers 24/7 roadside assistance. This additional coverage provides the following:

  • Battery jump starts
  • Fuel delivery (does not include the price of fuel)
  • Lockout services up to $100
  • Tire change services (if you have a spare)
  • Towing to the nearest repair facility
  • Winching your vehicle if it is stuck on or immediately next to a publicly-maintained roadway

Here’s what you need to do to request help:

  1. Open the GEICO Mobile app and select Roadside Assistance.
  2. Or, visit https://geico.app.link/staticAutoERSGetHelpNow.
  3. Or, call (800) 42-GEICO.

Mechanical Breakdown Insurance

If your vehicle is less than 15 months old or has fewer than 15,000 miles, you may be eligible for mechanical breakdown coverage. In the event of a vehicle breakdown, this additional coverage applies to the following:

  • Costs of repair
  • Replacement parts
  • Other mechanical problems

To start your mechanical breakdown insurance claim, call (800) 443-7411.

Commercial Auto Insurance

Commercial auto insurance from GEICO will protect business vehicles from the incidents below:

  • Damage to someone else’s property
  • Damage to your vehicle(s)
  • Driver injury
  • Injury to someone else

Business vehicles are cars only for commercial purposes. Cars for commuting or delivery services are not eligible. GEICO’s commercial auto insurance covers the following types of vehicles:

  • Box trucks
  • Cars
  • Food trucks
  • Pickup trucks
  • Service utility trucks
  • Vans

This coverage will not protect semi trucks and tractor-trailers.

Where Is GEICO Available?

GEICO provides private passenger automobile insurance in all 50 states and the District of Columbia.

Light BulbFYI

Always get more than one car insurance quote before you purchase an insurance policy. Compare car insurance quotes from different car insurance companies to find the lowest auto insurance rates.

Cancellation Policy

If you need to cancel your policy, GEICO makes that easy in three simple steps:

  1. Call 800-841-1587.
  2. Ask the licensed agent to proceed in canceling your policy. If you’re prompted to speak to the automated system, say “Cancel insurance policy” and then “Auto.”
  3. Provide your GEICO policy number to access your account and cancel your policy.

You can cancel your policy at any time with no fees.

Company Background

  • 1936: Leo and Lillian Goodwin established The Government Employees Insurance Company (GEICO) to target federal employees and certain categories of enlisted military officers.
  • 1951: Warren Buffet, then a Columbia University business student, purchased his first share of GEICO stock. During the year, Buffet obtained 350 shares of GEICO for a total cost of $10,282.
  • 1959: GEICO opened a new headquarters in Chevy Chase, Maryland.
  • 1964: GEICO reached the 1 million policies-in-force (PIF) mark.
  • 1980: GEICO introduced 24-hour a day, 365-day a-year telephone service for claims, sales, and service.
  • 1996: Warren Buffett purchased the outstanding GEICO stock, making GEICO a Berkshire Hathaway subsidiary.
  • 1999: The GEICO Gecko made his debut.
  • 2002: GEICO passed the 5 million PIF mark.
  • 2010: GEICO passed the 10 million PIF mark.
  • 2017: GEICO passed the 15 million PIF mark.
  • 2022: GEICO now insures more than 28 million vehicles and holds over 17 million PIF.

GEICO Contact Information

Here’s how you can get in touch with GEICO:

Conclusion

GEICO could be your provider if you’re looking for affordable rates for standard and nonstandard insurance policies alike. With coverage from this company, you can rest easy knowing you and your vehicle have protection in the event of an accident. If you want to learn even more about what GEICO has to offer, read our GEICO review.

Frequently Asked Questions

Is there a rideshare coverage option from GEICO?

Yes, you can add rideshare protection from GEICO as additional coverage for services like Lyft and Uber. This optional coverage will only cover drivers for rideshare services, not passengers.

Can GEICO provide an SR-22 or FR-44?

Yes, GEICO offers SR-22 and FR-44 certification.

What features are on the GEICO app?

On the mobile app, you have access to the following features:

  • Roadside assistance
  • Digital ID cards
  • Bill payments
  • Managing claims
  • Vehicle care
  • Virtual assistant

Does GEICO offer accident forgiveness?

Yes, GEICO offers accident forgiveness in all states except California, Connecticut, and Massachusetts. You can add accident forgiveness to an existing auto policy to prevent insurance rates from increasing as a result of a driver’s first at-fault accident.

Citations

  1. Car Insurance Discounts – Savings on Auto Insurance. GEICO. (2022).
    https://www.geico.com/save/discounts/car-insurance-discounts/

  2. AM Best Affirms Credit Ratings of GEICO Corporation and Majority of Members of GEICO. AM Best. (2021, Nov 3).
    https://news.ambest.com/PressContent.aspx?altsrc=2&refnum=31368