Geico VS Progressive are two top auto insurance companies in the U.S. They offer competitive rates and a variety of coverage options. They also have digital tools that make managing your policy easier. But, there are key differences between them that could affect your choice. This article will compare Geico and Progressive to help you pick the best insurance for your needs.
Key Takeaways
- Geico and Progressive both have strong financial ratings and customer satisfaction scores.
- Geico is generally more affordable, while Progressive offers more robust digital tools and coverage options.
- Policyholders looking for cheap car insurance and user-friendly digital features may prefer Geico.
- Those prioritizing comprehensive coverage, nationwide availability, or high-risk insurance may find Progressive more appealing.
- Both companies offer competitive discounts and telematics programs to help drivers save on their auto insurance premiums.
Company Overview
Geico is based in Chevy Chase, Maryland, and has been in the insurance business since 1936. It started by offering policies to federal government employees and military personnel. Now, it’s open to everyone. Geico also covers homes, renters, and small businesses, not just cars.
Progressive Insurance is in the Cleveland, Ohio area since 1937. It offers many insurance products, like homeowners, renters, business, pet, and dental insurance. Progressive is a leader in the industry, known for its digital tools and options for high-risk drivers.
Geico Background
Leo and Lillian Goodwin founded Geico in 1936. They started with auto insurance for federal government employees and military personnel. Over time, Geico added coverage for homes, renters, and small businesses.
Progressive Background
Jack Green and Joseph Lewis started Progressive Insurance in 1937. They were a direct insurance provider, letting customers get quotes and buy policies without an agent. Today, Progressive is one of the biggest auto insurance companies in the U.S., offering many products and digital tools.
| Geico | Progressive |
|---|---|
| Geico was founded in 1936 and is headquartered in Chevy Chase, Maryland. | Progressive was founded in 1937 and is based in the Cleveland, Ohio area. |
| Geico initially focused on providing auto insurance policies to federal government employees and military personnel. | Progressive started as a direct insurance provider, allowing customers to get quotes and purchase policies directly without an agent. |
| In addition to auto insurance, Geico offers coverage for homes, renters, and small businesses. | Progressive offers a wide range of insurance products beyond auto coverage, including homeowners, renters, business, pet, and dental insurance. |
Geico vs Progressive: Overall Ratings
Geico and Progressive are top names in car insurance. Geico is tied with Nationwide for the #4 spot in the ranking of the best car insurance companies. Meanwhile, Progressive ranks #10.
Geico scores higher than Progressive in claims handling, customer loyalty, and value. Its overall rating is 3.9 out of 5, while Progressive scores 3.4. Geico also has a critic score of 4.3, just above Progressive’s 4.2.
| Metric | Geico | Progressive |
|---|---|---|
| Overall Rating | 3.9/5 | 3.4/5 |
| Critic Score | 4.3/5 | 4.2/5 |
| Customer Satisfaction | 48% completely satisfied | N/A |
| Average Annual Rates | $1,250 | $1,540 |
Geico leads in overall performance, but Progressive shines in coverage options and customer service. Both companies are reliable and worth considering for your auto coverage needs.
Customer Service and Loyalty
Geico shines in customer service and satisfaction. It ranked #4 in customer service, showing strong performance. More than half of Geico customers loved the new policy process and finding customer service easy to reach.
Geico also ranked #4 in customer loyalty. 43% of non-claim customers and 42% of claim customers would highly recommend Geico. This shows Geico’s focus on quality service builds strong loyalty and support from customers.
Geico’s Customer Service Ratings
Geico’s top customer service ratings show the company’s effort to serve its customers well.
Progressive’s Customer Service Ratings
Progressive was a bit behind Geico, ranking #8 in customer service. Yet, more customers were fully happy with the new policy process at Progressive (58% non-claim, 57% claim customers). In loyalty, Progressive was #10, with 40% of non-claim and 42% of claim customers likely to recommend it.
“Geico’s commitment to quality customer service has translated into high levels of customer loyalty and advocacy.”
Both Geico and Progressive show strong customer service and loyalty. Geico might have a slight lead, but Progressive also has a solid profile in these areas. This data highlights their commitment to giving great experiences to their customers.
Claims Handling Process
Geico and Progressive both stand out in the claims handling process. Geico is especially strong, ranking #3 in our analysis. A big part (48%) of Geico customers found filing claims easy, and 49% were fully happy with how their claims were settled. This shows Geico makes filing claims smooth and efficient for its customers.
Progressive also did well, ranking #7 overall. Most (52%) of Progressive customers liked filing their claims, and 54% were happy with how their claims were settled. Though good, Progressive didn’t quite match Geico’s high customer satisfaction in claims handling.
Geico’s Claims Handling Ratings
Geico’s strong claims handling ratings show the company’s focus on a smooth experience for customers filing claims. With nearly half of policyholders fully satisfied, Geico has made claims resolution and customer service a top priority.
Progressive’s Claims Handling Ratings
Progressive got good marks from customers on claims handling, with most feeling totally satisfied. Yet, Progressive’s ratings were a bit lower than Geico’s top performance.
Cost Comparison: geico vs progressive
Auto insurance costs are a big deal for many drivers. Geico and Progressive have competitive prices, but they change based on the driver’s age, history, and more.
Rates for Teen Drivers
Geico is the better choice for teen drivers. For 17-year-old girls, Geico costs $4,908 a year, while Progressive costs $8,875. For boys the same age, Geico is $5,463 and Progressive is $9,726. Geico is about $800-$1,000 cheaper for teens.
Rates for Young Adults
Geico is still cheaper for young adults too. For 25-year-old women, Geico costs $1,921 a year, Progressive $2,273. For men, Geico is $1,952 and Progressive $2,324. Both rates are above the national average.
Rates for Adult Drivers
At 35, Geico is still cheaper for adults. For women, Geico is $1,713 a year, 27% less than average. For men, it’s $1,772, 18% less. Progressive’s rates are closer to the average for this age.
Rates for Senior Drivers
Geico is still a bit cheaper for seniors too. For 60-year-old women, Geico is $1,625, Progressive $1,480. For men, Geico is $1,686 and Progressive $1,503. Both companies charge more than the average for seniors.
“Geico offers significantly lower average annual rates for teen drivers compared to Progressive.”
High-Risk Driver Rates
Geico and Progressive offer different rates for high-risk drivers. Let’s explore how they compare in various situations.
Rates for Drivers with Poor Credit
Geico gives lower rates to drivers with poor credit than Progressive. For these drivers, Geico’s average rate is $2,878, which is 32% less than the average. Progressive charges $3,191, just a bit more than the average.
Rates After a Speeding Ticket
Drivers with a speeding ticket pay less with Geico than with Progressive. Geico’s rate is $2,299, while Progressive’s is $2,389. Both rates are above the national average of $1,935.
Rates After an Accident
Geico and Progressive have big differences in rates for drivers with an accident. Geico’s rate is $2,781, and Progressive’s is $2,827. Both are much higher than the average of $2,212 for drivers with an accident.
Rates After a DUI
For drivers with a DUI, Progressive has the lower rate compared to Geico. Progressive’s rate is $2,296, 27% less than the average. Geico’s rate is $4,323, much higher than both Progressive and the average.
| Driver Profile | Geico Average Rate | Progressive Average Rate | National Average Rate |
|---|---|---|---|
| Poor Credit | $2,878 | $3,191 | $4,230 |
| Speeding Ticket | $2,299 | $2,389 | $1,935 |
| At-Fault Accident | $2,781 | $2,827 | $2,212 |
| DUI | $4,323 | $2,296 | $2,675 |
Geico usually offers lower rates for high-risk drivers, except for DUIs, where Progressive is better. Think about your driving habits to find the best insurance deal between Geico and Progressive.
Discounts Comparison
Finding the right auto insurance is key. It’s all about balancing coverage and cost. Geico car insurance and Progressive car insurance both offer discounts to help save money.
Geico’s Discount Options
Geico has many discounts to choose from. Customers can save with discounts for:
- Good drivers
- Air bags
- Anti-theft systems
- Seat belt use
- Membership in certain organizations
- Military and government personnel
- Multiple vehicles or policies
About 40% of Geico customers who didn’t file a claim loved the discounts. This shows they find great value in them.
Progressive’s Discount Options
Progressive car insurance discounts also offer savings. Some discounts include:
- Multi-policy
- Multi-vehicle
- Good student
- Usage-based Snapshot discounts
Progressive also has many discounts, but 39% of customers without claims were less satisfied. This is lower than Geico’s satisfaction rate.
| Discount Type | Geico | Progressive |
|---|---|---|
| Good Driver | ✓ | ✓ |
| Safety Features | ✓ | ❌ |
| Membership Discounts | ✓ | ❌ |
| Multi-Policy | ✓ | ✓ |
| Multi-Vehicle | ✓ | ✓ |
| Good Student | ✓ | ✓ |
| Usage-Based | ❌ | ✓ |
In conclusion, both Geico and Progressive offer many discounts to save on auto insurance. Geico has more discounts, which might explain why it has higher customer satisfaction.
Coverage Options and Add-ons
Geico and Progressive offer standard auto insurance options like liability, collision, and comprehensive. They also have special add-ons for different needs.
Geico’s Coverage Offerings
Geico has more than basic coverage. They offer Mechanical Breakdown Insurance (MBI) for extra protection. This helps pay for fixing mechanical issues. Geico also covers homes, rentals, and small businesses, giving customers a full insurance package.
Progressive’s Coverage Offerings
Progressive has the usual auto insurance options. But, they also have special add-ons. These include vision insurance, home security insurance, home warranty insurance, and workers’ compensation insurance. These options are great for those wanting more coverage for their needs.
Both Geico and Progressive aim to give customers many coverage choices. They ensure customers get the right protection for their cars and more.
“Geico and Progressive offer a variety of coverage options to meet the diverse needs of their customers, with Geico providing unique add-ons like Mechanical Breakdown Insurance and Progressive offering supplemental coverages like vision and home security insurance.”
Telematics Programs
The auto insurance industry is changing fast. Telematics-based programs are now big with major providers. Geico and Progressive have brought their own usage-based insurance. They offer savings to drivers who drive safely and responsibly.
Geico’s DriveEasy Program
Geico’s DriveEasy program uses telematics to give discounts for safe driving. It looks at phone use, braking, and speeding to give a driving score. If you drive well, you could save up to 25% on your Geico insurance.
Progressive’s Snapshot Program
Progressive’s Snapshot also uses telematics to offer discounts. It says drivers can save $94 to $231 per year by driving well. Even though one of our team members didn’t try it, Snapshot seems like a good choice for Progressive customers wanting to save money.
| Telematics Program | Potential Savings | Key Features |
|---|---|---|
| Geico DriveEasy | Up to 25% discount | Tracks phone usage, braking, and acceleration |
| Progressive Snapshot | $94 to $231 per year | Monitors driving behaviors for potential discounts |
Geico and Progressive are leading the way in telematics. Drivers looking to save money with usage-based insurance should check out what these companies offer.
Conclusion
Choosing between GEICO and Progressive for auto insurance depends on what you need. GEICO often wins in customer satisfaction, claims handling, and saving money, especially for standard drivers. But, Progressive is great for high-risk drivers with its special coverage options.
Both GEICO and Progressive are trusted names in insurance. They offer good rates, lots of coverage choices, and online tools to help manage your policy. The best choice depends on what matters most to you. It’s smart to get quotes from both companies and others to find the best auto coverage for you.
If you’re a GEICO or Progressive customer, or thinking of switching, keep up with the latest trends and customer feedback. This way, you can make a smart choice when choosing car insurance provider. Knowing the Geico vs Progressive comparison helps you get the best value and protection for your money.
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Choosing between GEICO and Progressive for auto insurance depends on what you need. GEICO often wins in customer satisfaction, claims handling, and saving money, especially for standard drivers. But, Progressive is great for high-risk drivers with its special coverage options.