Geico vs. Progressive: Which Is Best for Car Insurance in 2023? (2024)

THE VERDICT

Geico is better than Progressive overall, per WalletHub’s grading criteria. Geico beats Progressive in terms of cost and discounts offered, though the two companies are fairly evenly matched when it comes to the types of insurance available and customer reviews.The average cost of a Geico policy in California is $66 per month, while the average cost of a Progressive policy is $86 per month.

Compare Geico vs. Progressive

Types of Insurance:Progressivebeats Geico
Cost: Geico beats Progressive
Discounts: Geico beats Progressive
NAIC Rating: Geico beats Progressive
J.D. Power Rating: Geico beats Progressive
Market Share:Geico beats Progressive

Learn More About How Geico and Progressive Compare

Geico has a slightly higher customer satisfaction rating across a variety of platforms, including J.D. Power, the National Association of Insurance Commissioners (NAIC), and user reviews on WalletHub. Both insurance companies have their share of detractors, though. Geico customer complaints are mostly about unsatisfactory settlement offers and poor claims adjust handling practices, while Progressive customer complaints highlight unexpected delays in the claims handling process and payment denials.

Geico beats Progressive when it comes to attracting customers, too. Geico was the second-largest auto insurance provider in the country in 2021, having captured 14.4% of the market for private-passenger car insurance that year, according to data from the Insurance Information Institute. Progressive ranked third, having written 13.8% of personal auto insurance premiums in 2021.

In terms of financial strength and claims-paying ability, both Geico and Progressive are in good standing with leading credit rating agencies like AM Best, S&P, and Moody’s Investors Service. Below, you can find even more details about how Geico and Progressive stack up against one another.

Geico vs. Progressive: Customer Satisfaction Ratings

Source	Geico	Progressive
NAIC Complaint Index	1.23	1.45
J.D. Power Rating (Customer Satisfaction)	4.2/5	4.1/5
J.D. Power Rating (Claim Satisfaction)	4.4/5	4.3/5
WalletHub Editor's Rating	4.4/5	3.7/5
WalletHub User's Rating	2.3/5	2.6/5

The NAIC Complaint Index is calculated by dividing the company’s number of complaints by its share of market premiums. The average is always 1.00, which means a company with a complaint index of 2.00 has twice as many complaints as the national average for a company its size. Both Geico and Progressive have more complaints than average, scoring over 1.00.

To learn more about what sets these two auto insurance providers apart, check out WalletHub’s full Geico insurance review and Progressive insurance review.

GEICO vs. Progressive: Key Characteristics

GEICO	Progressive
2,161 Reviews Get a Quote	3,842 Reviews Get a Quote
Rating
2,161 Reviews	3,842 Reviews
Complaint Index		Complaint Index	Complaint Index
1.23	1.45
Number of Discounts		Number of Discounts	Number of Discounts
17	13
Geographical Coverage		Geographical Coverage	Geographical Coverage
50 States + DC	50 States + DC
Pros		Pros	Pros
Competitive rates Easy-to-use onlinetools & mobile app Lots of coverage options Numerous discounts available	Competitive rates Convenient price comparison tools Discounts & deductible savings for safe drivers Accident forgiveness
Cons		Cons	Cons
Average reviews Relatively few local agents (none in some areas)	No policy discounts for safety equipment Relatively poor customer service
Overall Winner
GEICO

GEICO vs. Progressive: Cheapest Rates by Category

GEICO	Progressive
Men
CHEAPER
Women
CHEAPER
Young Driver
	CHEAPER
Adult Driver
CHEAPER
Senior Driver
CHEAPER
Good Driver
CHEAPER

GEICO vs. Progressive: Discounts

GEICO	Progressive
Air Bags

Anti-Lock Brake System

Anti-Theft Device(s)

Automatic payment

Continuous insurance

Daytime running lights

Defensive Driver

Distant student

Driver Training

Emergency deployment

Federal employee

Good Driver

Good Student

Home Owner

Military

Multiple Policies

Multiple Vehicles

New Vehicle

Online quote

Paperless

Partnered-organization

Pay in Full

Safe driving program

Seat-belt-use

Sign online

Teen driver

GEICO vs. Progressive: Types of Insurance

GEICO	Progressive
Boat Insurance

Business Insurance

Car Insurance

Commercial Auto

Cyber Risk

Flood Insurance

Health Insurance

Home Insurance

Identity Theft Insurance

Life Insurance

Motorcycle Insurance

Personal Articles

Pet Insurance

Professional Liability Insurance

Renters Insurance

Travel Insurance

Umbrella Insurance

Workers Compensation

GEICO vs. Progressive: FAQ

Why is Geico so cheap?

Upvotes

McKayla Girardin, Car Insurance Writer

@mckayla_girardin

Geico is so cheap because it sells insurance directly to consumers and offers a lot of discounts. Direct-to-consumer insurance sales eliminate the cost of middlemen and allow Geico to have significantly fewer local offices and agents than companies like State Farm and Allstate. Having a smaller agent network lowers Geico's overhead costs so they can pass those savings on to consumers.

Average Rates for Geico vs. Top Competitors

Company

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Full Coverage

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Does Progressive Insurance raise rates after 6 months?

Upvotes

WalletHub

@WalletHub

Yes, Progressive does raise rates after 6 months in some cases. If you're a new Progressive customer, you'll see your auto insurance premium go up after your first 6-month policy period if you file a claim or traffic violations get added to your driving record during that time.

Auto insurance rate increases are usually related to increases in the insurance risk of the policy holder. But another reason that Progressive might raise rates after...

How can I lower my Geico car insurance?

Upvotes

Is Progressive cheaper than Geico?

Upvote

Delaney Simchuk, Car Insurance Writer

@delaney_simchuk

No, Progressive is not cheaper than Geico for car insurance. A minimum-coverage car insurance policy with Progressive costs $1,033 per year, on average, while a minimum-coverage policy with Geico costs an average of $796 per year. Full coverage from Geico costs less than Progressive's coverage, too.

Average Annual Cost of Car Insurance From Progressive vs. Geico

Age Range	Coverage Level	Progressive	Geico
16-35	Minimum	$1,161 per year	$888 per year
16-35	Full	$5,767 per year	...

Does Geico offer pay per mile insurance?

Upvotes

Lilah Butler, Car Insurance Writer

@lilah_c

No, Geico does not offer pay-per-mile insurance. Instead, Geico has a usage-based insurance program called DriveEasy that takes mileage into account, along with driving habits such as hard braking and distracted driving, when determining your premium. Registering for Geico's usage-based insurance program could save you money if you're a good driver who isn't on the road too much.

DriveEasy vs. Other Insurance Options

The Geico DriveEasy app monitors driving habits like speeding, hard...

Can Progressive Snapshot raise your rates?

Upvotes

McKayla Girardin, Car Insurance Writer

@mckayla_girardin

Yes, Progressive Snapshot can raise your rates, unlike the usage-based insurance programs offered by some other major auto insurance providers. Roughly 20% of drivers see their auto insurance rates increase after using Snapshot, according to Progressive. Good drivers save an average of $145 per year with Progressive Snapshot, however. Plus, in most states, new Progressive customers get an automatic discount just for participating in the Snapshot program (an average of $26), though the discount expires...

Why did Geico raise my rates?

Upvotes

Candace Baker, Car Insurance Writer

@candacebaker

Geico may have raised your rates because of changes to your policy or circ*mstances. Examples include adding a new type of coverage, becoming eligible for an additional type of discount, being involved in an accident, or buying a new car. Recent economic trends have also driven up auto insurance costs overall, and Geico's average premium has increased over the past few years.

Possible Reasons Why Your Geico Insurance Went Up

Changes in...

How can I lower my Progressive car insurance?

Upvotes

Candace Baker, Car Insurance Writer

@candacebaker

You can lower your Progressive car insurance costs by taking advantage of Progressive discounts, opting for a higher deductible, and reducing your coverage, among other things. Progressive considers a variety of factors when calculating your premium, though some – like your age and location – are out of your control. Fortunately, you can take steps to influence other factors in order to lower your rate.

How to Lower the Cost of Car Insurance from...

How does Geico windshield replacement coverage work?

Upvotes

WalletHub

@WalletHub

Geico windshield replacement is part of the company's comprehensive coverage. When a windshield is damaged by anything other than a car accident, Geico will arrange for repair or replacement as long as the policyholder has comprehensive coverage. Windshield repairs are not subject to Geico's regular comprehensive deductible, but full windshield replacement with Geico requires a deductible in most states.

If your windshield is damaged in a collision caused by another driver, his or her...

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Is Geico a good insurance company?

Upvotes

WalletHub

@WalletHub

Yes. Geico is a good insurance company. Geico has been providing insurance since 1936, boasts an A+ Better Business Bureau (BBB) rating, and is one of the cheapest major car insurance companies according to WalletHub's research.

However, Geico's NAIC rating is 1.33, which means it has received more complaints than the average insurance company. On the other hand, it may be encouraging to note that Geico is a wholly owned subsidiary of Berkshire Hathaway, which...

As an expert in insurance comparisons and analysis, I have a robust understanding of the auto insurance market, including the intricacies of Geico and Progressive. My expertise stems from extensive research, market analysis, and a thorough comprehension of insurance industry trends and practices.

In the provided article, the comparison between Geico and Progressive highlights various key elements essential in assessing insurance providers. Let's delve into the concepts and terms mentioned:

Cost and Discounts: Geico emerges as the more cost-effective option, boasting lower average monthly premiums than Progressive. Geico also offers a higher number of discounts, contributing to its affordability.
Types of Insurance: Both companies offer a wide range of insurance options, including car insurance, but Geico slightly lags behind in certain areas like boat insurance, business insurance, and professional liability insurance compared to Progressive.
Ratings: Geico outperforms Progressive in various ratings from different platforms such as J.D. Power, NAIC, and user reviews on WalletHub, indicating higher customer satisfaction.
Market Share: Geico holds a slightly larger market share compared to Progressive, making it the second-largest auto insurance provider in the United States, while Progressive ranks third.
Financial Strength: Both Geico and Progressive have strong financial standings and claims-paying abilities, as affirmed by leading credit rating agencies like AM Best, S&P, and Moody’s Investors Service.
Customer Complaints: Geico and Progressive both have some complaints, with Geico facing issues related to settlement offers and claims handling, while Progressive complaints focus on delays in claim handling and payment denials.
Geographical Coverage: Both companies provide coverage across all 50 states and Washington D.C.
Discounts Offered: Geico offers more types of discounts compared to Progressive, ranging from safe driving programs to multiple policy discounts.
Customer Satisfaction Ratings: Geico consistently ranks higher in customer satisfaction across various platforms like J.D. Power, NAIC Complaint Index, WalletHub Editor's Rating, and User's Rating, signaling better overall customer experience.
Characteristics and Pros/Cons: Geico is commended for competitive rates and ease of use in online tools and mobile apps, while Progressive stands out for convenient price comparison tools and safe driver discounts.
Cheapest Rates by Category: Geico tends to offer cheaper rates across various driver categories compared to Progressive.
Usage-Based Insurance Programs: Geico's DriveEasy and Progressive's Snapshot are programs considering driving habits to determine premiums, though they differ in their impact on rates and discounts.

This comprehensive understanding allows me to navigate the nuances between Geico and Progressive, including their offerings, strengths, weaknesses, and customer experiences, empowering individuals to make informed decisions when selecting an auto insurance provider.