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GEICO Auto Insurance Review

Thursday, 25 July 2013 17:48
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GEICO is one of the most recognizable car insurance companies in the world due to its clever and effective marketing. Regardless of their great marketing, the quality of any insurance provider comes down to their customer experience and the quality of their insurance products. A potential downside for insurance shoppers to consider is that GEICO does not offer insurance agent based customer support, so some customers have reported a negative experience when dealing with support issues. However, the company offers affordable insurance coverage options that make them well worth a look for insurance shoppers. Their high retention rate is evidence that the majority of their customers are happy with their service.

The well-known GEICO marketing phrase that “15 minutes could save you 15% or more on car insurance” is often true as the company offers affordable premiums for a wide range of car insurance plans and can beat other providers on premium costs. Those who are shopping for auto insurance should be sure to check their rates out and see if they can save money. Their quote process is fast and can be completed online in just a few minutes.

Geico

Pros of GEICO Car Insurance:

  • The third largest auto insurer in the United States with a high retention rate
  • Low cost premiums in some areas and multiple coverage options
  • Discounts for select groups such as the military, government personnel and others

Cons of GEICO Car Insurance:

  • Reviews of the claims process are mixed with some customers reporting slow claims
  • A lack of insurance agents can affect the customer service experience

Background Information

GEICO is no stranger to the auto insurance business with over 70 years of experience. GEICO’s very first customers were government employees and military personnel and the company quickly expanded its insurance offerings to everyone else. GEICO was one of the first insurance companies to offer non-agent customer service which resulted in lower premiums for their customers and more of a budget for advertising and other expenses.

GEICO is the third largest auto insurer in the United States and operates in all 50 states. At the moment it serves over 12 million customers and has a high customer retention rate. The company is rated A++ by AM Best and has a 3 out of 5 power circle rating by JD Power for customer satisfaction with its claims.

Types of Insurance Offered

GEICO offers many different types of insurance products including home, life, auto and more. They company also offers unique add on policies like mechanical breakdown insurance, roadside assistance, rental car reimbursement, windshield and glass coverage, and more. Most of the auto insurance add-ons that are offered are affordable. Like most other insurance providers, GEICO offers discounts for purchasing multiple policies with them.

Customer Reviews

A car accident can be very stressful and customer service makes all the difference when it comes to claims processing. Based on some online reviews this may be an area where GEICO is lacking. Many of the negative reviews stem from their handling of customer support issues and vehicle claims. Some customers have reported slow claims processing and other problems when dealing with damage claims. Some prefer the personal attention that they receive from having a dedicated insurance agent, which is an area that GEICO is not able to compete in due to their preference of using non-agent customer support.

Auto Repair Xpress Program

GEICO offers its customers the ability to track their claims online and offers their unique Auto Repair Xpress program for fast auto repair following an accident. The damaged vehicle is dropped off at a certified Auto Repair Xpress shop where a claims adjuster will be sent to evaluate the vehicle’s damage and get a rental vehicle. The car is also inspected before it is sent out and the repairs are guaranteed for the lifetime of the vehicle. GEICO hand picks their Auto Repair Xpress shops. Customers have mixed reviews of the Auto Repair Xpress program, with some customers claiming that the preferred providers are not necessarily the best option for vehicle repair.

A Modern Website with Many Features

One area where GEICO stands out from the competition is the company website. GEICO offers one of the most elaborate websites of any insurance provider. Not only do they offer a vast library of information on auto insurance policies, insurance discounts, and more, they also include various financial planning tools. The website is easy to navigate and customers with multiple policies can conveniently manage all of their polices in one place. GEICO is one of the few insurance providers that allows its customers to track their claims through the website.

Low Quotes in Some Areas

GEICO does its best to compete with every auto insurance provider and offers low auto insurance quotes for most areas. There are many factors involved in determining an auto insurance quote, but quotes can save $250 or more annually depending on the area of the country. For some customers GEICO will not be able to offer the lowest rates, but organizational discounts and other discounts can make rates more competitive.

Unique Discounts

GEICO offers unique discounts such as multiple policy discounts, safe driver discounts, student discounts and discounts for modern vehicles. Vehicles that have anti-theft devices, anti-lock brakes and other safety and security features can receive discounts on auto insurance rates. There are also some unique discounts offered to government and military employees and for many other affiliated groups.

Geico

Recommendations

GEICO saves its auto insurance customers money any way that it can and does its best to fix vehicles quickly and get them back on the road as soon as possible, but there are some customers who are unsatisfied with their claims processing. The trouble with claims and customer service is thought to be due in part to their lack of insurance agents. For those who prefer having an insurance agent, GEICO may not be the best choice, but in spite of their lack of agents they offer competitive rates and many coverage and discount options.

If you are looking for car insurance it is worth it to check GEICO out to see if you might save money compared to other providers. You can get an insurance quote from multiple providers now by submitting your zip code on this page and you can compare their rates.

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Company Information
Sales Phone 800-861-8380
Website
http://www.geico.com
Market Share Ranked 3rd
AM Best Score A++
JD Power Rating 3 out of 5
Coverage
All 50 states