Compare Foremost vs. GEICO: Quotes, Discounts 2023

Foremost vs. GEICO: A Summary

Foremost and GEICO are two prominent national insurance companies. Foremost is a midsize specialty insurance company targeting high-risk drivers, and GEICO is a household name that often ranks among the nation’s top three car insurance providers by market share. Compare car insurance quotes from Foremost, GEICO, and more with the Insurify quote-comparison tool.

ICS Score Explanation:

The Insurify Composite Score (ICS) is a proprietary rating calculated by a team of data scientists at Insurify, weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

Foremost

In 1952, Foremost Insurance Company was founded in Grand Rapids, Michigan. Since its humble origins, the insurer has grown substantially. This growth led to its acquisition by the Farmers Insurance Group in 2000. Today, Foremost offers auto policies to high-risk drivers through its partnership with another affiliated Farmers company, Bristol West.

GEICO

GEICO has sought 15 minutes to cut you a 15 percent price break for years. And, beyond the bargain, features like a mobile app with digital ID cards, rental reimbursement, and roadside assistance have gained the insurer millions of policyholders. And, of course, GEICO’s ads might make you chuckle, but the company hopes you’ll be laughing all the way to the bank.

The Best Car Insurance Companies in 2021

Foremost Auto Insurance ranks sixth for its top-rated, hassle-free claims process. While GEICO is not on the list, the insurer is among the most affordable companies for drivers with clean records. Additionally, both insurance providers let their customers tailor insurance coverage to match individual needs.

Compare Foremost vs. GEICO: Which Is Cheaper?

GEICO comes out on top, with budget-friendly rates in every category of driver analyzed. Foremost’s average monthly car insurance price is $128, while GEICO’s is $47. Foremost’s insurance premiums are over two and a half times pricier than GEICO’s. Additionally, Foremost surpasses the national average, and GEICO stays below it across the board.

The Cheapest Car Insurance Companies in 2021

GEICO’s competitive rates are one reason it’s an appealing car insurance option for many drivers. On the other hand, Foremost focuses on high-risk drivers, who sometimes have difficulty finding coverage. Because Foremost’s policyholders can pose problems for traditional insurers, its rates reflect the unique market it serves.

Compare Foremost Signature vs. GEICO Car Insurance by Age

Age plays a key role in the price you get on your quotes because insurance agencies and companies recognize that experienced drivers are safer drivers. As a result, teen drivers and those under 25 face the highest rates for car insurance, while consumers with decades of driving expertise pay a fraction of what the youngest drivers do.

When you look at the table below, you’ll notice that Foremost’s and GEICO’s rates drop as drivers age until they reach their 60s. That’s when aging itself becomes a factor in motor skills. Both insurers reserve their best premiums for people in their 50s. The cheapest rate from Foremost is $109, while the cheapest rate from GEICO is $38 per month on average.

Compare Foremost Signature vs. GEICO Car Insurance by Gender

Your gender can alter your final auto insurance bill. In most cases, the difference in car insurance premiums between men and women is insignificant. However, the variation can be sizable at some insurers. In addition, it’s common to see men, especially young men, pay a bit more than women because they tend to drive more aggressively.

Women spend two percent less than men at Foremost, amounting to a $2 monthly difference. Likewise, at GEICO, men and women pay nearly the same rates. Women with GEICO coverage enjoy a $1 price break, representing a 2 percent discrepancy. GEICO offers rates lower than the national average for men and women, but Foremost rates exceed the national average.

Which is cheapest for men?

GEICO is the best option for men. At $47 per month, GEICO is 64 percent less costly than Foremost, saving you $82 monthly, resulting in a $984 price break each year. When GEICO outperforms both Foremost and the national average by such large margins, men who appreciate a hard-earned buck will have a tough time picking Foremost.

Which is cheapest for women?

GEICO is a solid selection for women seeking low-cost car insurance. GEICO offers lower rates than the national average of $69 by $23 per month, or $276 annually. Women can secure pricing that is 33 percent lower than the national average and less than half of Foremost’s $127 monthly bill. The yearly savings from choosing GEICO over Foremost is $972.

Compare Foremost Signature vs. GEICO Car Insurance by Mileage

Your annual mileage can raise your auto insurance rates at certain car insurance companies. Furthermore, auto insurance providers and their underwriting departments calculate your premiums by looking at risk factors. In their eyes, putting a bunch of miles on your odometer means you’re increasing the probability of a car accident.

You’ll fork over about the same amount of cash to Foremost and GEICO regardless of the miles you clock. On average, drivers at Foremost pay a $2 bump for their extra mileage. And GEICO’s rates are identical. Despite what potential policyholders estimate, both insurers may have a standard mileage they input when setting rates.

Which is cheapest for drivers with high mileage?

Road warriors should be delighted with GEICO. At $46 each month, the company saves you $81 per month versus Foremost, translating to an annual price reduction of $972. And the good news doesn’t stop there. GEICO also offers rates lower than the national average by $23 monthly, representing a $276 bargain compared to the competition in general.

Which is cheapest for drivers with low mileage?

With gas prices soaring and remote work looking even more popular, infrequent drivers snatch some pretty significant savings by choosing GEICO. GEICO’s $46 price tag offers a minimum monthly deal of $79 versus Foremost. That means you’ll put at least $948 back into your bank account. Additionally, GEICO auto insurance rates are lower than the national average.

Compare Foremost Signature vs. GEICO Car Insurance by Credit Score

Auto insurance costs are usually the lowest for individuals with exceptional credit. At the same time, those with middle-of-the-road scores have fewer choices for cheap rates. It’s true in every state except California, Hawaii, and Massachusetts, where using credit ratings for auto insurance is banned.

The data from both insurers shows the same trend. Premiums are cheapest for drivers with excellent credit, and it climbs as credit scores fall. The most significant increases are at GEICO. Those with the lowest credit scores pay nearly twice as much as those with excellent credit. Even so, GEICO is the more affordable insurer, with rates lower than the national average.

Which is cheapest for good credit?

If you have fantastic credit, GEICO should be on your radar. GEICO offers lower rates than competitors at $37 per month for those with excellent credit, which is $66 less per month than coverage from Foremost. Drivers with good credit at GEICO pay $19 less per month than the national average and $936 less per year than drivers with coverage from Foremost.

Which is cheapest for bad credit?

Try GEICO if you’re improving your credit score. For customers with average credit, GEICO offers rates $79 lower per month than coverage from Foremost. Additionally, GEICO’s rates for those with poor credit outshine Foremost and the national average by the widest margins. Those with poor credit could pay $1,176 less per year with GEICO than with Foremost.

Compare Foremost Signature vs. GEICO Car Insurance by Driving Record

Insurance agents and companies will review records from the past three or five years when giving you a quote. Of course, you will always lock in the cheapest insurance prices if you have a spotless driving record, but even a single moving violation can raise your rates hundreds of dollars per year.

Finding reasonable rates becomes considerably more difficult when you have a less-than-ideal driving record. However, even if your driving history has a challenge or two on it, insurance providers like GEICO recognize the challenge and provide low prices. In each scenario below, GEICO falls below the national average, while Foremost exceeds it.

Which is cheapest for good drivers?

Drivers with clean driving records should look into GEICO, which offers rates $79 less than Foremost each month, amounting to $948 per year. By contrast, Foremost charges $125 monthly, which is $58 costlier than the national average per month and $696 more per year. Choosing GEICO could free up money for added protection like uninsured motorist coverage.

Which is cheapest after a speeding ticket?

With highway patrol, photo radar enforcement, and the current pace of our technologically advanced lifestyle, receiving a speeding ticket is easier than ever. And if you have one on your record, set your sights on GEICO for car insurance. GEICO’s offers a monthly rate of $57 on average, which is lower than the national average rate of $104.

Which is cheapest after an accident?

Despite concentrating on high-risk customers, Foremost could not compete with GEICO’s low rates. GEICO’s $72 per month auto insurance premium is $158 per month and $1,896 per year cheaper than Foremost. Also, GEICO provides policyholders with a recorded at-fault accident with rates lower than the national average of $113.

Which is cheapest after a DUI?

DUIs can cause rates to skyrocket so that some people stop driving and use Uber or Lyft instead. When you choose coverage from GEICO, you can likely skip the rideshare. GEICO coverage for drivers with a past DUI is $94 per month on average, which is $61 less than the national average. Foremost is lower than the national average by $8 per month.

Foremost Signature vs. GEICO Car Insurance: What discounts does each offer?

Foremost Discounts

• Electronic payment

• Go paperless

• Homeowner

• Multi-policy (bundling your auto insurance with other insurance products, like homeowners insurance, renters insurance, life insurance, business insurance, or motorcycle insurance)

• Multi-vehicle

• Pay in full

• Preferred driver

• Safe driver

GEICO Discounts

• Airbag

• Antilock brakes

• Anti-theft system

• Daytime running lights

• Defensive driving

• Driver affiliation

• Driver’s educational course

• Good driver

• Good student

• Multi-policy, bundling

• Multi-vehicle

• New vehicle discount

• Seat belt use

Our Methodology and How We Compared Foremost and GEICO

The car insurance quotes provided in Insurify’s insurance company comparison guides are based on the analysis of over 50 thousand insurance quotes from 500 ZIP codes nationwide. Insurify’s data science team performs a comprehensive analysis of factors car insurance providers weigh to calculate rates, including driver demographics, driving record, credit score, desired coverage level, and more to give representative samples.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating calculated by weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers a window into how insurance providers compare to one another in terms of both cost and quality.