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Compare State Farm vs. GEICO: Quotes, Discounts (2022)

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Polina Solovyeva

By: Polina Solovyeva

Edited by Thomas Fitzgerald

Last Updated June 26, 2022

Why you can trust Insurify

Insurify partners with top insurance companies and is a licensed agent in all 50 states. However, the insurance experts writing our content operate independently of our partners. Check out reviews from over 3,000 satisfied customers, how we make money, our data methodology, and our editorial standards.

22State Farm vs. GEICO: A Summary

State Farm and GEICO are respected auto insurance providers that offer comparable average rates, $52 per month and $47 per month, respectively. However, certain groups of drivers may still find better premiums with GEICO vs. State Farm and vice versa. Read this insurance review to help you compare car insurance rates and learn more about each company.

Insurance CompanyAvg. Monthly Car Insurance QuoteInsurify Composite Score
State Farm$5288
GEICO$4788
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

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.

State Farm

State Farm is the largest insurance provider in the nation by market share and has strong financial rankings. You can find a variety of policies with State Farm, from basic property damage liability insurance to full coverage, but it doesn’t offer gap insurance. However, if you qualify for its Payoff Protector feature, you may not need gap insurance.

Pros

  • Competitive rates for drivers with DUIs

Cons

  • No gap insurance

  • High rates for drivers with bad credit

  • No student discount (may change depending on your state)

GEICO

GEICO is a respected insurance provider with solid customer satisfaction ratings. You can find a variety of coverage options with GEICO, including rideshare insurance and emergency roadside assistance. However, GEICO doesn’t offer gap insurance, which your lending institution may require.

Pros

  • Competitive rates

  • Easy-to-use mobile app

  • Student discount available

Cons

  • No gap insurance

  • Few customization options available

Rating FactorState FarmGEICO
FitchWDAA-
A.M. BestA++A++
Moody’sWRAa3
S&PAAAA+
J.D. Power872869
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

The Best Car Insurance Companies in 2022

RankCompany NameAverage Monthly QuoteInsurify Composite Score
1Clearcover
Best Overall
$13597
2Nationwide
Best for Safe Drivers
$19989
3American Family
Best for Families with Teen Drivers
$23489
4Safeco
Best for Drivers with Poor Credit
$18686
5Farmers
Best for Rideshare Coverage
$23985
6Foremost
Best for Hassle-Free Claims
$15982
7Liberty Mutual
Best for Accident Forgiveness
$24182
8Mercury
Best for Face-to-Face Service
$23281
9Progressive
Best for Senior Drivers
$14780
10Travelers
Best for Young Drivers
$16380
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

State Farm may be a good option for drivers with speeding tickets, DUIs, or at-fault accidents on their record. These offenses—especially accidents and DUIs—can raise your quote with GEICO, but State Farm average rates typically stay low for high-risk drivers.

Compare State Farm vs. GEICO: Which Is Cheaper?

State Farm and GEICO both offer competitive rates, but certain groups of drivers can see a bigger difference between these providers. For example, drivers with a poor credit score can expect to pay $53 more per month, or $636 more per year, with State Farm. In contrast, drivers with a DUI can expect to pay $19 more per month, or $228 more per year, with GEICO.

The Cheapest Car Insurance Companies in 2022

RankInsurance CompanyAverage Cost Per MonthICS
1USH&C$44Not Rated
2Metromile$63Not Rated
3Direct Auto$64Not Rated
4Travelers$6580
5Kemper$71Not Rated
6Progressive$87Not Rated
7Mile Auto$9185
8National General$9358
9Clearcover$9497
10GAINSCO$94Not Rated
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

State Farm and GEICO have comparable rates for most groups of drivers, with a few exceptions, such as drivers with bad credit and those with offenses on their driving records. You may consider using Insurify to compare real-life quotes with both providers to see which one is cheaper for you.

Compare State Farm vs. GEICO Car Insurance by Age

Teen drivers can expect the highest insurance premiums with both State Farm and GEICO, $116 and $113 per month on average. It’s common for teen drivers to pay more for their insurance policies than more mature drivers because they don’t have as much experience behind the wheel, and many auto insurance companies consider them to be high-risk drivers because of this.

On average, young drivers in their 20s pay $50 per month with State Farm and $46 per month with GEICO. Mature drivers in their 50s can expect the lowest rates, $43 per month with State Farm and $38 per month with GEICO. Typically, GEICO offers slightly lower rates to most age groups. However, drivers in their 30s, 70s, and 80s may find better rates with State Farm.

Age GroupState FarmGEICO
Teen$116$113
20s$50$46
30s$46$50
40s$45$40
50s$43$38
60s$43$40
70s$49$54
80s$55$58
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Compare State Farm vs. GEICO Car Insurance by Gender

According to Insurify data, your gender can impact your auto insurance rate. On average, men pay $36 more per year than women for their insurance coverage. Some providers believe that men are more prone to high-risk driving behaviors, such as speeding and driving under the influence, than women and give them a higher quote.

Men can expect to pay slightly higher premiums than women with both State Farm and GEICO. On average, men pay $48 more per year than women with State Farm and $12 more per year than women with GEICO. California, Hawaii, Massachusetts, Maine, Michigan, Montana, North Carolina, and Pennsylvania do not allow insurers to use your gender to calculate your quote.

Which is cheapest for men?

On average, men pay $54 per month with State Farm and $47 per month with GEICO for their car insurance policy. The difference in these rates amounts to $7 per month, or $84 per year. Consider comparing your car insurance rates with Insurify to see which provider will give you the best rate.

GenderState FarmGEICONational Average
Men$54$47$81
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Which is cheapest for women?

On average, women pay $50 per month with State Farm and $46 per month with GEICO. This amounts to a $48 difference in annual premiums. Your exact quote will depend on your preferred coverage options and whether you qualify for any insurance discounts.

GenderState FarmGEICONational Average
Women$50$46$78
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Compare State Farm vs. GEICO Car Insurance by Mileage

With some car insurance companies, low-mileage drivers—those who cover less than 5,000 miles per year—may qualify for slightly lower rates. However, Insurify data shows that low-mileage drivers typically don’t get cheaper quotes than high-mileage drivers with State Farm or GEICO. With these insurers, both low-mileage and high-mileage drivers can expect to pay similar rates.

Which is cheapest for drivers with high mileage?

On average, drivers who cover over 15,000 miles per year pay $50 per month with State Farm and $46 per month with GEICO. This amounts to a $48 annual difference. Bundling your car insurance policy with homeowners or renters insurance may help you save money.

Annual MileageState FarmGEICONational Average
15,000-20,000$50$46$78
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Which is cheapest for drivers with low mileage?

Low-mileage drivers may find cheaper car insurance rates with GEICO. On average, drivers who cover less than 5,000 miles per year pay $51 per month with State Farm and $46 per month with GEICO, $5 less. Drivers who cover 10,000 miles per year pay $50 per month with State Farm and $46 per month with GEICO, $4 less.

Annual MileageState FarmGEICONational Average
5,000$51$46$78
10,000$50$46$78
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Compare State Farm vs. GEICO Car Insurance by Credit Score

Your credit score may impact your car insurance quote in some states. California, Hawaii, Massachusetts, and Michigan don’t allow providers to use your credit score when calculating your quote. However, in other states, drivers with a bad credit history may pay higher insurance premiums than drivers with good credit.

Which is cheapest for good credit?

On average, drivers with an excellent credit score pay $34 per month with State Farm and $37 per month with GEICO, $3 higher. Drivers with a good credit score can expect to get the same quote with both State Farm and GEICO, $43 per month, or $516 per year.

Credit TierState FarmGEICONational Average
Excellent$34$37$60
Good$43$43$71
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Which is cheapest for bad credit?

According to Insurify data, drivers with an average credit score pay $51 per month with State Farm and $46 per month with GEICO, $5 lower. If you have a poor credit score, you can expect to pay $64 per month for GEICO auto insurance and a whopping $117 per month for a policy with State Farm, $53 higher. This monthly difference amounts to a $636 annual difference.

Credit TierState FarmGEICONational Average
Average$51$46$78
Poor$117$64$120
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Compare State Farm vs. GEICO Car Insurance by Driving Record

Your driving history is one of the most important factors when it comes to your car insurance quote. Auto insurance providers assume that drivers with clean records are going to continue to practice safe driving and are less likely to file a claim. As a result, good drivers get better quotes than drivers who have speeding tickets, at-fault accidents, and DUIs on their record.

Different insurance companies have different definitions of what a “good driver” means. Depending on the insurer, you may need to have maintained a clean driving record for three or more years to qualify as a “good driver.”

Which is cheapest for good drivers?

On average, good drivers can expect to pay $51 per month with State Farm and $46 per month with GEICO, $5 less. Both of these quotes are below the national average—$78 per month—but getting a car insurance policy with GEICO may help good drivers maximize their savings.

Driver TypeState FarmGEICONational Average
Clean Record$51$46$78
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Which is cheapest after a speeding ticket?

Drivers with a speeding ticket on their record may find a better rate with GEICO. On average, State Farm drivers with a speeding ticket pay $59 per month for their policy, while GEICO drivers pay $57 per month. This difference in monthly rates amounts to $24 per year. Having multiple speeding tickets on your record may result in a higher quote.

Driver TypeState FarmGEICONational Average
Speeding Ticket$59$57$104
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Which is cheapest after an accident?

Drivers with an accident on their record can expect to pay $65 per month with State Farm and $72 per month with GEICO, $7 higher. Having multiple accidents on your driving history may raise your quote with both providers.

Driver TypeState FarmGEICONational Average
At-Fault Accident$65$72$114
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Which is cheapest after a DUI?

A DUI on your record has a strong impact on your car insurance quote, raising it to $75 per month with State Farm and $94 per month with GEICO on average, $19 higher. While these average quotes are still below the national average, you may consider using Insurify to compare quotes and see which provider will give you the best rate.

Driver TypeState FarmGEICONational Average
DUI$75$94$155
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

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State Farm vs. GEICO Car Insurance: What discounts does each offer?

State Farm Discounts

The discounts below are the basic discounts State Farm offers to all drivers. Depending on what state you live in, you may qualify for other discounts.

  • Safe driver
  • Accident-free
  • Defensive driving
  • Vehicle safety
  • Passive restraint
  • Anti-theft
  • Multi-car
  • Multi-policy

GEICO Discounts

Below are some of the discounts GEICO offers. Depending on what state you live in, you may qualify for other discounts.

  • Airbag
  • Antilock brakes
  • Anti-theft
  • Daytime running lights
  • New car
  • Safe driver
  • Seat belt use
  • Defensive driving/driver’s ed
  • Good student
  • Emergency deployment
  • Federal employee
  • Military
  • Multi-vehicle
  • Multi-policy
DiscountState FarmGEICO
Safe driver
Accident-free
Defensive driving
Vehicle safety
Passive restraint/Seat-belt use
Anti-theft
Multi-car/Multi-vehicle
Multi-policy
Airbag
Antilock brakes
Daytime running lights
New car
Good student
Emergency deployment
Federal employee
Military

Our Methodology and How We Compared State Farm 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.

Frequently Asked Questions

  • It depends on various factors, such as your age and driving record. On average, GEICO drivers with a DUI on their record pay $228 more per year than State Farm drivers. In contrast, drivers in their 50s can save $60 per year on average by choosing GEICO over State Farm. Consider comparing rates to see which company best fits your needs.

  • It depends on your particular needs, wants, and expectations. In addition to searching for the best quote, it’s also important to check that the provider offers all the add-ons you may need. For example, both State Farm and GEICO don’t offer gap insurance, but State Farm has a feature called Payoff Protector, which works in a similar way and you may be eligible for.

  • Insurify is an AI-powered comparison tool that allows you to compare car insurance quotes from providers in your area. Simply answer a few questions about yourself, your vehicle, and your preferred coverage, and get instant access to quotes from State Farm, GEICO, Progressive, and more.

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Polina Solovyeva
Polina Solovyeva

Insurance Writer

Polina Solovyeva is a writer for mission-driven brands and entrepreneurs, specializing in auto insurance and personal finance. Polina writes to help consumers better understand their insurance coverage.

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