Erie vs. GEICO: Which Is the Best? (2024)

Erie’s cheap rates and high customer loyalty put it in the top position compared to GEICO, with an IQ Score of 4.6.

Amy Beardsley
Written byAmy Beardsley
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Amy BeardsleyInsurance Writer
  • 3+ years writing about auto, home, and life insurance

  • 7+ years in personal finance and technology

Amy specializes in insurance and technology writing and has a talent for transforming complex topics into easy-to-understand stories.

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Katie Powers
Edited byKatie Powers
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Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

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Konstantin Halachev
Data reviewed byKonstantin Halachev
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Konstantin HalachevVice President of Engineering
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.

Updated May 23, 2024

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Erie Insurance and GEICO are prominent players in the car insurance market. Though smaller in market share according to National Association of Insurance Commissioners (NAIC) data, Erie advertises customer loyalty and has unique policy options. GEICO, a national insurer, has more affordable liability-only rates and an extensive list of discounts.

You should compare car insurance quotes, customer service reviews, discounts, and coverage options to determine whether Erie or GEICO better suits your insurance needs.

Quick Facts
  • Drivers pay $93 per month for full-coverage insurance from Erie and $118 from GEICO.

  • GEICO leads with more affordable liability insurance.

  • Erie has more auto coverage options, but GEICO offers more discounts.

Erie vs. GEICO: The verdict

For overall coverage, Erie Insurance is the better car insurance option for most people. Although GEICO is a bit more affordable for liability-only insurance, Erie offers cheaper full-coverage quotes.

Erie also has more coverage choices, like gap insurance and new-car replacement, which GEICO doesn’t have. However, GEICO has the upper hand with more discount options, which can help lower your car insurance bill. In the end, whether Erie or GEICO is the better choice depends on your specific needs and what you’re looking for in terms of coverage and discounts.

FactorErieGEICO
IQ Score4.64.4
J.D. Power customer satisfaction score855 out of 1,000818 out of 1,000
Average quote: liability only$55$54
Number of discounts816
Number of states where it operates1250
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
  • Our editorial team spent 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. Criteria are weighted by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. We update ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: We use data from AM Best, S&P, Moody's, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 20,000 customer reviews across 155 car insurance companies. We also considered third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the United States, as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify identified the number of states in which insurers offer coverage and company size by market share to score availability and reach.

Erie

With 1.3% of the personal auto insurance market share, Erie is the 13th-largest auto insurer. Erie Insurance Group claims to have a loyal customer base, with 90% of its customers renewing their policies year after year. The company earned an A+ (Superior) financial strength rating from AM Best. Erie ranked higher in customer satisfaction than GEICO in the J.D. Power 2023 U.S. Auto Insurance Study.

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.6
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
870
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$55/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$93/mo

For nearly 100 years, Erie Insurance has been selling auto coverage. The company operates in 12 states and Washington, D.C., and also offers more than two dozen types of insurance, including home, life, and business insurance. A.M. Best gives Erie an A+ rating for financial stability and credit strength. The company has a lower-than-expected number of complaints with the National Association of Insurance Commissioners Customer Complaint Index, and ranks third in overall customer satisfaction according to J.D. Power rankings. The company also has an A+ rating from the Better Business Bureau.

Pros
  • Excellent BBB, J.D. Power, and A.M. Best ratings

  • Competitive rates for teenagers and drivers with speeding tickets

Cons
  • Available in only 12 states

  • Customers can’t buy a policy or file a claim online

Read our Erie Insurance review
Lori - May 16, 2024
Verified

Great

The price for full coverage insurance is very good. You can't beat paying only $55 a month.

Rob - May 13, 2024
Verified

So far, beats the rest

Overall, excellent service.

Stephanie - May 13, 2024
Verified

Great if you don’t need them

I was with them for over a decade and they decided not to renew my policy because I used my roadside assistance twice a year.

GEICO

GEICO is the third-largest car insurance company, with a significant 13.8% of the market share. The company maintains an above-average customer satisfaction score from J.D. Power. A below-average number of GEICO customers filed complaints with the NAIC, and GEICO earned an A++ (Superior) financial strength rating from AM Best.

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.4
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
835
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$54/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$118/mo

A highly recognizable name in car insurance, GEICO is a subsidiary of Berkshire Hathaway. The company started out as the Government Employees Insurance Company, serving U.S. government workers and military personnel. In addition to auto insurance, GEICO also sells homeowner, flood insurance, life insurance, business insurance, and identity protection, among other products. A.M. Best gives GEICO its highest rating for financial stability and credit. However, GEICO has nearly twice as many complaints as expected in the National Association of Insurance Commissioner’s Consumer Complaints Index.

Pros
  • Good rates for good drivers, seniors, and young drivers

  • Accident forgiveness available

Cons
  • High rates for drivers with certain violations, like DUIs

  • No rideshare or new car replacement coverage available

Read our GEICO review
Kimberly - May 22, 2024
Verified

Never Again

They are horrible at handling claims and make you feel bad.

Anita - May 22, 2024
Verified

Excellent

Good customer service. Megan Burrell is very helpful and professional.

Charles - May 22, 2024
Verified

Good Insurance

Awesome.

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Erie YourTurn vs. GEICO DriveEasy

Erie’s YourTurn and GEICO’s DriveEasy are telematics programs that can help lower premiums for good drivers. However, higher-risk drivers may see an increase in premiums.

YourTurn tracks driving behaviors through a mobile app. Safe driving behavior can help you earn cash rewards from Erie to redeem for gift cards or charitable donations. YourTurn isn’t available in Kentucky, North Carolina, New York, and Washington, D.C.

DriveEasy also uses a mobile app to track driving behavior. GEICO automatically adjusts your rate depending on your driving practices. It isn’t available in all states, so check with a GEICO insurance agent for more information.

Erie vs. GEICO: Which is the cheapest?

GEICO is the cheapest car insurance company for liability-only rates. However, drivers tend to pay less for full-coverage insurance with Erie than GEICO.

It’s important to note that your car insurance rate will depend on numerous factors. Your age, credit history, driving record, and coverage type affect how much you pay. Your geographical location and your vehicle’s make and model also play a significant role.

GEICO: Cheapest for drivers with a clean driving record

GEICO just barely beats out Erie Insurance in offering lower rates for liability-only coverage for good drivers, but Erie has cheaper full-coverage options for people with a clean driving record.

Driver TypeErieGEICO
Clean driving record$55$54
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

GEICO: Cheapest for drivers with a speeding ticket

The lowest rates for drivers with a speeding ticket depend on whether you want liability-only or full-coverage insurance. Erie has more affordable car insurance quotes for full coverage, while GEICO has cheaper coverage for liability insurance.

Driver TypeErieGEICO
Drivers with a speeding ticket$67$63
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

GEICO: Cheapest for teen drivers

Teen drivers in the U.S. can typically save on car insurance premiums by going with an insurance policy from GEICO since Erie tends to be pricier for young drivers.

Driver TypeErieGEICO
18-year-old$86$73
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

GEICO: Cheapest for drivers with bad credit

For drivers with bad credit, GEICO typically has the cheapest rates compared to Erie, making it a good option for people with less-than-ideal credit histories. Generally, drivers with good or excellent credit pay less for auto coverage than people with poor credit.

Driver TypeErieGEICO
Drivers with bad credit$86$62
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

GEICO: Cheapest for senior drivers

Both GEICO and Erie offer affordable car insurance coverage for senior drivers, providing a cost-effective option for drivers in their 50s, 60s, and 70s.

Driver TypeErieGEICO
Senior drivers$36$41
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

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Compare coverages: Erie vs. GEICO

Both insurers offer the basic policy types you’d expect from a car insurance company: bodily injury liability, property damage liability, personal injury protection, uninsured/underinsured motorist, collision coverage, and comprehensive coverage. Whether you opt for GEICO or Erie, you can customize your policy to fit your needs.

Erie offers a few add-on insurance products that GEICO doesn’t, including gap insurance. Plus, your Erie insurance policy automatically covers veterinary care costs if your pet incurs an injury in a car accident while in your car. GEICO offers mechanical breakdown coverage, but Erie doesn’t.

In the table below, you can compare coverage offerings from Erie and GEICO.

Compare discounts: Erie vs. GEICO

GEICO offers a wider range of discounts than what you can qualify for at Erie. Full-coverage policies cost more from GEICO than Erie, on average. Depending on your situation and eligibility, qualifying for discounts could make coverage from GEICO cheaper than Erie for liability insurance, too.

Compare the discount offerings from the two companies below.

DiscountErieGEICO
Clean driving recordNoYes
Defensive driving courseYesYes
Multi-policyYesYes
Multi-carYesYes
Low mileageNoNo
Telematics (safe driving app)YesYes
Anti-theft deviceYesYes
New carNoYes
Military/affiliationNoYes
Good studentNoYes
LoyaltyYesYes
Auto payNoYes
Student away at schoolYesNo
HomeownerNoNo
Alternative fuelNoNo

Erie vs. GEICO FAQs

While shopping for car insurance, you should compare quotes from multiple insurers. Here’s what else you need to know about auto coverage from GEICO and Erie.

  • Why is GEICO so much cheaper?

    GEICO can offer lower car insurance premiums because it sells insurance directly to consumers and offers a lot of discounts. For instance, GEICO offers some discounts that Erie doesn’t, such as savings for insuring a new vehicle and for safe driving.

  • Which company is comparable to GEICO?

    State Farm is comparable to GEICO for auto insurance coverage. Both companies offer competitive prices and have a strong reputation in the industry and with consumers. However, State Farm’s market share is larger than GEICO’s, with 17% compared to GEICO’s 13.8%.

  • Is Erie good at paying claims?

    Yes. Erie has a solid reputation for paying claims. Erie ranked second in the J.D. Power 2023 U.S. Auto Claims Satisfaction Study. Erie also has a high financial strength rating of A+ (Superior) from AM Best. This indicates the company can pay out claims on its insurance policies.

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Amy Beardsley
Amy BeardsleyInsurance Writer

Amy is a personal finance and technology writer. With a background in the legal field and a bachelor's degree from Ferris State University, she has a talent for transforming complex topics into content that’s easy to understand. Connect with Amy on LinkedIn.

Katie Powers
Edited byKatie PowersAuto and Life Insurance Editor
Photo of an Insurify author
Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

Featured in

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Konstantin Halachev
Data reviewed byKonstantin HalachevVice President of Engineering
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVice President of Engineering
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.

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