Compare GEICO vs. Progressive: Quotes, Discounts (2023)

GEICO vs. Progressive: A Summary

If you’re looking to buy an insurance policy, you’re probably hoping to find a really good deal for the coverage you need. It’s smart to compare car insurance providers in your search, and two of the car insurance companies you might consider are GEICO and Progressive. Here’s how those insurers compare in terms of cost and Insurify COmposite Score.

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.

GEICO

GEICO was founded in 1936 and is now the second largest auto insurance provider by market share. The company provides several insurance products, including homeowners insurance and renters insurance, with bundling discounts available. In addition to the standard coverage options, GEICO offers roadside assistance, rental reimbursement, and rideshare coverage.

GEICO has superior financial strength ratings and has just about average J.D. Power rankings for customer satisfaction. The company also had fewer complaints than expected with the National Association of Insurance Commissioners (NAIC). GEICO also has a well-rated mobile app and offers plenty of discounts, including a telematics program.

Progressive

Progressive was founded in 1937 and is the third largest auto insurer by market share. The insurer is famous for its online tools, particularly the Name Your Price Tool. Progressive offers property insurance, business insurance, life insurance and more in addition to car insurance. You can bundle multiple products to save.

In addition to standard auto insurance coverages like bodily injury liability and property damage liability coverage, Progressive offers loan/lease payoff, rental car reimbursement, rideshare coverage, roadside assistance, and more. The company also provides several discounts, including the Snapshot telematics program, which allows you to save money for safe driving.

Progressive has superior financial strength ratings, but the insurer is ranked below average in both the J.D. Power 2021 U.S. Insurance Shopping Study and the 2021 U.S. Auto Claims Satisfaction Study. However, Progressive had fewer complaints than expected with the NAIC in 2020 given the company’s size.

The Best Car Insurance Companies in 2022

GEICO and Progressive are two of the best insurance companies you can choose for your car insurance coverage. However, of the two providers, GEICO has better customer satisfaction rankings. Still, Progressive has some coverage options that GEICO doesn’t offer. Either company would be a solid choice for those looking for a car insurance policy.

Compare GEICO vs. Progressive: Which Is Cheaper?

GEICO is cheaper than Progressive for all types of drivers. While Progressive is sometimes cheaper than the industry average, GEICO is always even cheaper for motorists, regardless of their driving history, credit score, or age.

The Cheapest Car Insurance Companies in 2022

GEICO is one of the cheapest insurance companies you can choose for your coverage needs. Only USAA can beat GEICO’s average auto insurance rates. Progressive is more expensive than the industry average, but it’s one of the cheaper options for DUI drivers.

Compare GEICO vs. Progressive Car Insurance by Age

Young drivers pay the most for car insurance due to their inexperience on the road. In fact, teen drivers are more likely to crash than any other age group, so they pay the highest car insurance rates. Drivers in their 50’s, on the other hand, tend to pay the best rates. Here’s what you can expect from each company based on your age.

GEICO is cheaper than Progressive for drivers of all ages. Progressive charges especially high rates to teen drivers — Premiums for teen drivers at Progressive cost more than double the average rates at GEICO.

Compare GEICO vs. Progressive Car Insurance by Gender

In most states, auto insurance companies consider your gender when setting your car insurance rates. Women tend to pay just slightly less than men over their lives. Teen males sometimes pay significantly more than teen females because teen males are more than twice as likely to die in a crash as teen females. Here’s what each company charges men and women.

GEICO is cheaper than Progressive on average for both men and women.

Which is cheapest for men?

GEICO is cheaper than both Progressive and the industry average when it comes to average rates for men.

Which is cheapest for women?

GEICO is cheaper than Progressive on average for women. GEICO’s rates also beat the industry average, while Progressive’s rates do not.

GEICO vs. Progressive Car Insurance by Mileage

When you apply for an auto insurance policy, you provide your estimated mileage. While this typically has a minimal impact on your insurance costs, most car insurance companies offer slightly cheaper insurance premiums to low mileage drivers.

Keep in mind that it’s possible to save more for low mileage if you enroll in a usage-based savings program like DriveEasy through GEICO or Snapshot through Progressive. These programs provide you with savings based on your actual driving habits. On average, here’s what drivers pay at each company based on their estimated mileage.

Which is cheapest for drivers with high mileage?

GEICO policyholders with a high estimated mileage pay less for insurance coverage than Progressive customers. GEICO’s rates also beat the industry average.

Which is cheapest for drivers with low mileage?

Low mileage drivers pay cheaper rates at GEICO on average than they do at Progressive. GEICO’s premiums for low mileage drivers also beat the industry average.

Compare GEICO vs. Progressive Insurance by Credit Score

In most states, car insurance companies look at your credit-based insurance score when underwriting your policy. It’s one of the factors they use to assess your risk. That’s because there’s a strong relationship between poor credit and high insurance losses, according to several studies.

In some states, insurers are prohibited from setting rates based on your credit history. But on average, people with bad credit pay significantly more for car insurance coverage. Here’s what you can expect from GEICO and Progressive based on your credit tier.

Which is cheapest for good credit?

GEICO is cheaper than Progressive on average for good credit drivers. Both companies come in under the national averages for both credit levels, but GEICO’s low monthly rates are the clear winner.

Which is cheapest for bad credit?

GEICO is cheaper than Progressive for drivers with poor or average credit. GEICO’s rates also beat the industry average. In fact, GEICO is one of the cheapest insurers we reviewed for poor credit drivers. Progressive, on the other hand, charges high rates to poor credit drivers.

Compare GEICO vs. Progressive Car Insurance by Driving Record

Your driving history is one of the most important factors in determining your car insurance rates. If you have infractions like speeding tickets or DUIs on your driving record, car insurance companies are going to view you as a high-risk driver because you aren’t taking precautions on the road. Safe drivers with a clean record pay the lowest rates.

Which is cheapest for good drivers?

Drivers without any violations pay lower premiums at GEICO on average. While Progressive is $1 cheaper than the $78 national average, GEICO’s $46 rates are the clear winner if you have a clean driving record.

Which is cheapest after a speeding ticket?

GEICO offers cheaper rates on average to drivers with speeding tickets than Progressive’s $99 monthly rate. GEICO premiums are also significantly cheaper than the industry average, making it a good option for drivers with a ticket on their records.

Which is cheapest after an accident?

GEICO is $39 per month cheaper on average than Progressive for drivers who have caused crashes. Both GEICO and Progressive’s premiums beat the industry average for drivers with this type of violation, but GEICO is the cheaper option.

Which is cheapest after a DUI?

A DUI can significantly drive up car insurance rates, making it important to find a provider with low rates. At $94 monthly, Progressive offers generous premiums to drivers with DUIs, but GEICO is still slightly cheaper. However, both companies beat the industry average.

GEICO vs. Progressive Car Insurance: What car insurance discounts does each offer?

GEICO Discounts

• Air bag

• Anti-lock brakes

• Anti-theft system

• Daytime running lights

• New car

• Good driver

• Defensive driving course

• Driver’s education course

• Good student

• Emergency deployment

• Federal employee

• Membership and employee

• Military

• Multi-car

• Multi-policy

• DriveEasy telematics program

Progressive Discounts

• Multi-policy

• Multi-car

• Continuous insurance

• Snapshot telematics program

• Teen driver

• Good student

• Distant student

• Homeowner

• Online quote

• Sign online

• Paperless

• Full pay

• Autopay

Note that available discounts may vary by state. Ask your insurance agent for more details.

Our Methodology and How We Compared GEICO and Progressive

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.