GEICO vs. Progressive: Which Is the Better Car Insurance Company?
When it comes to car insurance, two names you can't escape are GEICO and Progressive. With their memorable mascots and constant presence in commercials, both companies are household names. But when it's time to choose, how do you know which one is right for you? This article breaks down the key differences between GEICO and Progressive to help you make an informed decision and find the best fit for your needs.
GEICO: The Low-Cost Leader for Many Drivers
GEICO has built its reputation on offering competitive rates, and for good reason. For many drivers with a clean record, GEICO tends to be the cheaper option for both full and minimum coverage. This is especially true for young drivers, senior drivers, and those with good credit. GEICO also offers a wide range of discounts, from multi-car and good student discounts to specialized savings for military members and federal employees.
Pros of GEICO:
Lower Average Rates: GEICO's rates are consistently lower than Progressive's for most driver profiles.
Strong Discounts: They offer a large number of discounts, including some unique ones for specific affiliations.
High Customer Satisfaction: In various studies, GEICO often ranks higher for overall customer satisfaction, especially for its online experience.
Cons of GEICO:
Limited Coverage Options: GEICO may not offer as many niche coverage types, like gap insurance or rideshare insurance, which can be a deal-breaker for some.
Fewer Local Agents: If you prefer working with a local agent in person, GEICO's business model is primarily online and phone-based.
Higher Rates for DUIs: While generally cheaper, GEICO's rates for drivers with a DUI on their record are often higher than Progressive's.
Progressive: The Digital Innovator and High-Risk Specialist
Progressive has made a name for itself through its innovative tools and a wide range of coverage options. While its average rates may be slightly higher than GEICO's for many drivers, Progressive often stands out as the better choice for high-risk drivers, particularly those with a DUI or recent accident. The company is also known for its strong digital tools and a convenient online quoting process.
Pros of Progressive:
Better for High-Risk Drivers: Progressive frequently offers lower rates for drivers with a DUI or other violations on their record.
More Coverage Options: They provide a greater variety of optional coverages, including gap insurance and custom parts coverage, which GEICO may not offer.
Strong Digital Experience: Customers often report high satisfaction with Progressive's website and mobile app, making it easy to manage policies. The Name Your Price® Tool: This popular feature allows you to customize your coverage based on your budget.
Cons of Progressive:
Higher Average Premiums: For most drivers with a clean record, Progressive's rates tend to be higher than GEICO's.
Mixed Customer Service Ratings: While they excel in the digital experience, Progressive has received some below-average scores for claims satisfaction in certain industry studies.
Key Factors to Consider When Choosing The Verdict
| Feature | GEICO | Progressive |
|---|---|---|
| Average Rates | Generally cheaper for most drivers. | Can be higher, but often cheaper for high-risk drivers. |
| Best For | Drivers with a clean record, military members, federal employees. | High-risk drivers, those needing specific add-on coverages, drivers who prefer a robust digital experience. |
| Discounts | Offers a wide array of discounts, including some for affiliations. | Plenty of discounts, with a focus on online management and bundling. |
| Coverage Options | Standard coverage, but may lack certain optional add-ons like gap insurance. | Offers a broader range of specialized coverage options. |
| Customer Service | Consistently receives high marks for customer satisfaction, especially online. | Mixed reviews, with some below-average scores for claims handling. |