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

State Farm comes out on top for its high Insurify Quality (IQ) Score, low premiums, and customer satisfaction.

Alani Asis
Written byAlani Asis
Alani Asis
Alani Asis
  • 3 years of content writing

  • Bylines with leading financial publications

Alani is a freelance writer specializing in personal finance. She aims to make complex topics more approachable through fun, digestible content.

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Chris Schafer
Edited byChris Schafer
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

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Konstantin Halachev
Data reviewed byKonstantin Halachev
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.

Updated May 23, 2024

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State Farm and GEICO are top players in the insurance industry, and each insurance giant has its share of strengths and weaknesses.

State Farm has cheaper rates overall and ranks higher for customer service in various categories. On the other hand, GEICO has more discount opportunities to lower your insurance rates.

The best car insurance company for you will depend on its affordability, customer service, discounts, and coverage options. You can learn more about each of these insurers here.

Quick Facts
  • Unlike GEICO, State Farm’s telematics program won’t reduce your rates.

  • State Farm is cheaper for senior drivers and drivers with clean records and speeding tickets.

  • GEICO is cheaper for teen drivers and drivers with bad credit.

GEICO vs. State Farm: The verdict

State Farm beats GEICO in offering budget-friendly prices for most drivers. But GEICO has more discounts, which may result in lower premiums depending on which ones you qualify for.

State Farm also outshines GEICO in customer experience. It received higher ratings in the J.D. Power 2023 claims satisfaction and customer satisfaction studies.[1] It also has fewer complaints on the National Association of Insurance Commissioners (NAIC) complaint index.[2]

Additionally, State Farm’s insurance agent network is more comprehensive than GEICO. This means less waiting times and more personalized assistance. However, State Farm and GEICO’s insurance products are limited.

FactorGEICOState Farm
Insurify Quality (IQ) Score4.44.6
J.D. Power customer satisfaction score871 out of 1,000891 out of 1,000
Average quote: liability only$54$53
Number of available discounts1710
Number of states where it operates5050
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

GEICO is the third-largest auto insurance company by market share in the U.S.[3] It’s known for its affordable rates and strong financial strength ratings.

Compare personalized, real-time quotes
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.

State Farm

State Farm is the largest auto insurer in the U.S. It offers competitive rates and has high marks for claims and customer satisfaction.

Compare personalized, real-time quotes
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.
842
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.
$53/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.
$115/mo

State Farm has been in business for more than 100 years, and today sells auto and other vehicle insurance, homeowners, life, health, pet, disability, and small business insurance. Available in all 50 states, State Farm car insurance policies offer multiple ways to save, from customizing coverage types, to a robust list of discounts. The company has far fewer complaints than expected for the industry, according to the National Association of Insurance Commissioner’s Consumer Complaints Index. State Farm also ranks among the top 10 companies for customer satisfaction in every region on the J.D. Power Overall Customer Satisfaction Index.

Pros
  • High rates of customer satisfaction

  • Rideshare insurance available

Cons
  • No gap insurance offering

  • May not be the cheapest choice for drivers with violations

Read our State Farm review
Shirley - May 22, 2024
Verified

Excellent

I need a discount because I'm a good driver.

Dana - May 22, 2024
Verified

Not Good

I don't drive much, but they keep raising my rate.

George - May 21, 2024
Verified

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GEICO DriveEasy vs. State Farm Drive Safe & Save

State Farm and GEICO advertise telematics programs through mobile apps that reward policyholders for good driving.

State Farm customers get a discount of up to 30% on their policy for good driving. On top of that, drivers get automatic savings just for enrolling. In contrast, GEICO offers a discount of up to 25% for good driving and a 15% discount for signing up.

However, participation in GEICO’s usage-based insurance program is mandatory. GEICO may also increase your rates for poor driving habits tracked by the app, while State Farm won’t.

GEICO vs. State Farm: Which is the cheapest?

GEICO and State Farm’s rates are cheaper than the national average monthly rate of $160. State Farm has more affordable liability-only insurance coverage, at $53 per month, while GEICO offers its liability policies at $54 per month. Keep in mind that you’ll see different rates on your policy depending on factors like your age, gender, location, and driving history.

State Farm: Cheapest for drivers with a clean driving record

Drivers with a clean driving record get the best rates on their policy. State Farm is cheaper for people with a clean driving record. Here, you can see how rates for full coverage compare between these two insurers.

Driver TypeGEICOState Farm
Clean driving record$118$115
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.

State Farm: Cheapest for drivers with a speeding ticket

Drivers with a speeding ticket pay higher rates than drivers with clean records. State Farm is the cheaper auto insurance company for people with a speeding ticket.

Here, you can see the full-coverage rates from both companies.

Driver TypeGEICOState Farm
Drivers with a speeding ticket$138$132
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 pay the highest auto insurance rates compared to other age groups. GEICO is the cheaper option for young drivers. Here, you can see the average full-coverage rates from both insurers.

Driver TypeGEICOState Farm
Teens$159$182
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 poor credit

Drivers with a bad credit score see increased premiums on their car insurance policy in states where insurers are allowed to factor in credit history when setting rates. GEICO is cheaper for drivers with poor credit.

Driver TypeGEICOState Farm
Drivers with bad credit$134$171
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.

State Farm: Cheapest for senior drivers

Drivers in their 60s typically pay the lowest rates for car insurance, which tend to increase again in their 70s. State Farm is cheaper for senior drivers.

Driver TypeGEICOState Farm
Senior drivers$90$83
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.

Compare coverages: GEICO vs. State Farm

State Farm and GEICO offer these standard auto insurance coverages:

  • illustration card https://a.storyblok.com/f/162273/x/169fdfde11/liability-coverage.svg

    Collision coverage

    Collision coverage pays for your vehicle repairs if you get into a car crash, regardless of fault.

  • illustration card https://a.storyblok.com/f/162273/x/665da91bf7/comprehensive-coverage.svg

    Comprehensive coverage

    Comprehensive coverage pays for repairs due to non-collision events like theft, vandalism, and severe weather.

  • illustration card https://a.storyblok.com/f/162273/x/f2ca9fa443/protection-for-passengers.svg

    Liability coverage

    Liability coverage pays for the other person’s injuries and property damage if you’re at fault in an accident.

  • illustration card https://a.storyblok.com/f/162273/x/5285c4cd74/uninsured-or-underinsured-motorist-coverage.svg

    Uninsured/underinsured motorist coverage

    Uninsured/underinsured motorist coverage pays for your property damage and injuries if the at-fault party has little or no insurance.

  • illustration card https://a.storyblok.com/f/162273/x/4c9753bdbe/medical-payments.svg

    Medical payments coverage

    Medical payments coverage pays for your and your passenger’s medical bills, regardless of fault.

In addition to those standard coverages, consider these add-ons for more protection.

CoverageGEICOState Farm
Gap insuranceNoNo
Emergency roadside assistanceYesYes
Rental reimbursement coverageYesYes
Mechanical breakdown insuranceYesNo
Rideshare insuranceNoYes

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Compare discounts: GEICO vs. State Farm

While GEICO offers higher rates, it has more discounts. If you qualify for its discounts, you may see lower rates on a GEICO insurance policy than a State Farm policy.

DiscountGEICOState Farm
Clean driving recordYesYes
Defensive driving courseYesYes
Multi-policyYesYes
Multi-carYesYes
Low mileageNoNo
Telematics (safe driving app)YesYes
Anti-theft deviceYesYes
New carYesNo
Military/affiliationYesNo
Good studentYesYes
LoyaltyNoNo
AutopayNoNo
Student away at schoolNoYes
HomeownerNoNo
Alternative fuelNoNo

GEICO vs. State Farm FAQs

Here are the most asked questions about GEICO compared to State Farm car insurance.

  • Is State Farm bigger than GEICO?

    Yes. State Farm is larger than GEICO in personal auto insurance, according to NAIC data. State Farm has $46 billion in direct premiums written. In contrast, Berkshire Hathaway Group (GEICO’s parent company) has $38 billion in direct premiums written.

  • Is GEICO the most expensive?

    GEICO is more expensive than State Farm overall, but GEICO offers more discount opportunities. The company also has lower rates for teen drivers and drivers with bad credit scores.

  • Is GEICO or State Farm better for car insurance?

    It depends. State Farm is the best option for customer service and affordable prices overall. In comparison, GEICO is the better choice for its discount opportunities and cheap rates for younger drivers and drivers with poor credit.

Sources

  1. J.D. Power. "Auto Insurers Manage Customer Expectations as Repair Cycle Times Double in Two Years, J.D. Power Finds."
  2. NAIC. "Results by Complaint Index."
  3. NAIC. "PROPERTY AND CASUALTY INSURANCE INDUSTRY 2022 TOP 25 GROUPS AND COMPANIES BY COUNTRYWIDE PREMIUM."
Alani Asis
Alani Asis

Alani Asis is a personal finance freelance writer with nearly three years of experience in content creation. She has landed bylines with leading publications and brands like Insider, Fortune, LendingTree, and more. Alani aims to make personal finance approachable through fun, relatable, and digestible content.

Chris Schafer
Edited byChris SchaferSenior Editor
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

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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