Progressive Vs Geico: Who Offers Cheaper Auto Insurance?

Geico and Progressive are two of the largest car insurance companies in the US. Both companies offer a variety of coverage for motorists, including standard types of auto insurance coverage such as medical payments coverage, personal injury coverage, collision and comprehensive coverage, uninsured and underinsured motorist coverage, emergency roadside assistance, rental car reimbursement, and mechanical breakdown insurance. However, they differ in terms of pricing and other factors. So, which one offers cheaper auto insurance?

Cheaper rates for drivers with a clean record

Geico and Progressive are two of the largest car insurance companies in the US. Both companies offer a variety of insurance types, including liability and collision and comprehensive insurance, as well as a range of optional add-ons. However, when it comes to cheaper rates for drivers with a clean record, Geico is the better option.

Geico's average annual rate is $1,250, almost $300 less than Progressive's average rate of $1,540 per year. Geico's rate is also below the national average of $1,547.

Geico's rates are cheaper for drivers with a clean record across various demographics. For example, Geico offers cheaper rates for young adults, adults, and seniors. Geico's average rates for single, 25-year-old drivers are cheaper than Progressive's and the national average. Geico's rates are also more affordable for married female and male drivers aged 35. While Progressive's rates are only cheaper for this demographic if the driver is male.

Geico also has cheaper rates for drivers with a speeding ticket, after an accident, and for high coverage and minimum coverage.

In addition to its competitive rates, Geico also offers a good selection of discounts. These include anti-lock brakes, anti-theft systems, daytime running lights, new vehicle, good driver, seat belt use, defensive driving, driver's educational course, good student, emergency deployment, federal employee, membership and employee, multi-vehicle, and multipolicy discounts.

Geico also ranks higher than Progressive in customer satisfaction. Geico ranked above average for customer satisfaction in 5 out of 11 regions surveyed in J.D. Power's 2024 Auto Insurance Study, while Progressive was rated below average in all available regions. Geico also has a slightly lower complaint level than Progressive, according to data from the National Association of Insurance Commissioners.

Overall, Geico is the cheaper option for drivers with a clean record, offering more affordable rates and a range of discounts.

Cheaper rates for teen drivers

Teen drivers are considered high-risk by insurers, so car insurance rates are higher for this age group.

Geico offers some of the cheapest rates for teen drivers. Progressive's rates for this age group are over $2,000 more than the national average. Geico's insurance for teenagers is $5,049 per year, while Progressive's is $7,172.

Geico's rates are also lower than Progressive's for drivers under 25.

However, it's important to note that insurance rates are based on many factors, including location, age, and driving record, so it's always worth getting quotes from multiple companies to find the best rate for your specific situation.

Cheaper rates for drivers with poor credit

When it comes to drivers with poor credit, GEICO is the cheaper option between the two companies. GEICO's average annual rate for drivers with poor credit is $1,681, while Progressive's is $2,475. This makes GEICO about 32% cheaper than the average annual rate for drivers with poor credit, while Progressive is only about 7% cheaper.

GEICO also has cheaper rates for drivers with a ticket, an at-fault accident, or who are students. Progressive, on the other hand, is the cheaper option for drivers with a DUI. Progressive also has more unique coverage options, such as rideshare insurance, gap insurance, and accident forgiveness.

Both companies have their strengths and weaknesses, so it's important to consider your specific needs and compare quotes from both providers to determine which is the best fit for you.

Better customer service

When it comes to customer service, GEICO and Progressive have their pros and cons. GEICO has higher customer service ratings in terms of the level of "friendliness". However, Progressive works with independent brokers, and GEICO does not. Working with an independent broker means they can act as your advocate and find the best policy and rates for you. A direct writer like GEICO's agents are limited to selling what their company offers. GEICO won't always offer the best underwriting terms or pricing plans for the client.

GEICO and Progressive have similar grades regarding their claims processes, and both have low levels of complaints. GEICO has a slightly lower complaint level than Progressive. According to the National Association of Insurance Commissioners, Progressive has a complaint index of 0.65, which is better than the industry average.

GEICO and Progressive have mixed customer service reputations. GEICO has average claims satisfaction ratings, while Progressive is rated lower than average. At the same time, GEICO gets more complaints than average (and more than Progressive).

GEICO is rated higher than Progressive for customer satisfaction. Approximately 48% of GEICO customers said they were completely satisfied with the value they got from the insurer, though that number dipped to 45% among customers who had filed a claim. About 43% of Progressive customers felt completely satisfied with the value they got from the company, while 50% of Progressive customers who had filed a claim said they were completely satisfied.

Overall, GEICO offers better customer support than Progressive. GEICO has higher overall satisfaction scores than Progressive, according to J.D. Power's 2023 Auto Insurance Study.

More coverage options

Progressive is the better option if you're looking for more coverage options, add-ons, and customisations. While both companies offer the standard coverage options for minimum and full-coverage auto insurance policies, Progressive offers some unique options that Geico does not.

• Home security insurance
• Home warranty insurance
• Workers' compensation insurance
• Gap insurance
• Custom parts and equipment value coverage
• Vehicle protection coverage

Progressive also offers uncommon optional coverages, such as roadside assistance and rental reimbursement.

Progressive's Name Your Price tool allows customers to customise their coverage to fit their budget. Its Snapshot program rewards good driving habits with potential discounts, offering cheaper rates and providing personalised car insurance rates based on your driving habits and the amount you drive.

Therefore, if you're looking for more coverage options, Progressive is likely the better choice between the two.

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