Geico vs. Progressive Auto Insurance 2022: Which One is Best?

– Auto Insurance –

When it comes to which car insurance company you use, you have a choice a make as there’s almost no way to avoid car insurance. However, this article prioritizes both providers – Progressive car insurance and Geico auto insurance.

Geico vs. Progressive Auto Insurance

In terms of both market share and premiums written, Geico and Progressive are two of the biggest names in the auto insurance industry.

Both companies are known for low car insurance rates, especially for those with a spotty driving history. In our independent analysis, both offer comparable rates within $20 per month for most drivers.

However, Progressive offered slightly cheaper rates for drivers under 25 — on average $108 less per month.

Geico Auto Insurance

The Geico gecko has been telling us for years that in 15 minutes, you could save 15% or more on car insurance.

Our study found that Geico’s national average rates were among the lowest in the country for the driver profiles used to gather data.

That may be helping to increase Geico’s growing market share. At the end of 2017, Geico was the second-largest insurance company with 12.83% of the overall insurance market.

According to those who took our survey, Geico’s strength is in the ease of filing a claim. Two-thirds of those who answered would recommend this car insurance to a friend, and 70% said they were likely to renew with Geico.

Though it scored well in most categories, respondents were hesitant to give Geico the highest marks for overall satisfaction.

Progressive Auto Insurance 

Progressive is known for offering the rates of its competitors along with its own rates, thanks to help from friendly spokesperson Flo.

It was enough to move Progressive past Allstate to the number three position of largest insurers in the nation, with 9.88% of the market in 2017.

People in our survey seemed equally satisfied with the ease of filing a claim and with Progressive’s customer service. About 60% said they were likely to recommend the company and renew their own insurance policy with Progressive.

Car Insurance Rates: GEICO vs. Progressive

Car Insurance Rates: GEICO vs. Progressive

GEICO vs. Progressive: Pricing by credit score

If you have very poor credit, GEICO could be preferable to GEICO. On average, GEICO offers cheaper rates than Progressive for drivers with credit scores of less than 580.

Drivers with exceptional credit — a score of 800 or better — should opt for GEICO, which typically beats Progressive by $256 annually. Check out average insurance costs by credit level for Progressive and GEICO:

Credit level GEICO avg. annual premium Progressive avg. annual premium
Very Poor (300-579) $2,051 $3,602
Fair (580-669) $1,358 $2,127
Good (670-739) $1,485 $1,708
Very Good (740-799) $1,120 $1,453
Exceptional (800-850) $1,064 $1,320

GEICO vs. Progressive: Rates for bad drivers

If you’re saddled with an at-fault collision, ticket, reckless driving violation, or DUI on your driving résumé, GEICO could be a better choice than Progressive.

Every car insurance company prices policies differently after a violation, so don’t hesitate to shop around to figure out which insurer is best for you.

Infraction GEICO avg. annual premium Progressive avg. annual premium
At-fault accident (damage < $1,000) $1,857 $2,720
At-fault accident (damage > $1,000) $1,580 $2,245
DUI/DWI $2,550 $2,201
Reckless driving $2,238 $2,457
Speeding ticket $1,395 $2,091

GEICO vs. Progressive: Rates by age

Car insurance companies use a driver’s age to indicate risk, assigning rates accordingly. Car insurance is often priciest for teen drivers — due to their inexperience — and relatively affordable for older drivers.

Since every insurance company evaluates ages in a different way, it’s wise to compare rates and find a great fit.

As a general rule, teen drivers should choose GEICO instead of Progressive: GEICO offers average yearly savings of $4,740 versus progressive.

Age bracket GEICO avg. annual premium Progressive avg. annual premium
Teens $3,508 $8,248
20s $1,438 $2,287
30s $1,218 $2,287
40s $1,189 $1,644
50s $1,160 $1,542
60s $1,065 $1,403

Aside from finances, there are myriad pros and cons of both GEICO and Progressive, including their customer satisfaction ratings, discount programs, add-ons, and financial stability.

Be sure to get quotes and compare rates before purchasing a policy.

Geico vs Progressive: Discounts Comparison

In addition to affordable rates, Geico and Progressive often receive praise for the extensive list of discounts that they offer customers.

Here’s a look at some of the ways you can save money on your insurance premium with Geico and Progressive.

  Geico Progressive
Accident Forgiveness   X
Vehicle Safety Features X X
Good Driver X X
Driver Education X  
Teen Driver   X
Good Student X X
Emergency Deployment X  
Federal Employee X  
Military X  
Multi-Vehicle X X
Multi-Policy X X
Homeowner   X
Longevity with the Company   X

Frequently Asked Questions

1. Which company has the cheapest car insurance?

Looking at the average annual premiums of both companies, Geico offers cheaper insurance across the board. Regardless of age, credit score and driving history, you will most likely receive a lower quote from Geico than you will from Progressive.

2. Which company offers better discounts?

Although Geico offers more affordable premiums, Progressive offers a wider lineup of discounts. Progressive offers several discount options that Geico does not, including accident forgiveness, savings for being a teen driver, homeowner savings and discounts for being with the company for an extended period of time. Progressive also offers discounts for paying your premium in full, going paperless, signing up for automatic payments and more.

3. How should I decide if Geico or Progressive is right for me?

Ultimately, deciding to purchase insurance from Geico or Progressive comes down to a few factors. If you’re looking for the cheapest coverage, Geico is the right provider for you. Also if you’re a homeowner, or have existing policies with Progressive, you’ll probably save the most money by purchasing auto insurance from Progressive. If you’re a member of the military, Geico offers discounts that Progressive does not.

If you’re looking to customize your insurance plan, picking only the coverage you need to get the price you want, Progressive is the way to go.

However, if you’re in the military or a public employee, you may qualify for additional discounts with Geico.

Both Geico and Progressive have the experience and customer service you likely want from a car insurance company. But before making a decision about car insurance, always compare your options to find a provider that’s right for you.

We hope this article has been helpful for you. Please share it with anyone who you think will appreciate the information!

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