Key Takeaways
- We rate Geico 9.3 and State Farm 9.2 overall considering industry standing, availability, coverage, cost and service.
- Geico’s average annual full-coverage rate is $1,995 while State Farm’s is $2,544.
- Compare Geico and State Farm to see which offers the best quote for your situation.
We’ve reviewed the best car insurance companies on the market, and State Farm and Geico both ranked within our top five positions. Compare car insurance quotes from multiple leading providers to find the best rates and coverage for your needs.
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State Farm vs. Geico Auto Insurance
State Farm is the largest auto insurer in the U.S. according to the National Association of Insurance Commissioners (NAIC), while Geico is the third-largest insurer. Both companies hold strong financial reputations and customer service ratings. They are also well-established: State Farm was founded in 1922 and Geico in 1936. You can get classic car insurance and alternative vehicle coverage with either provider, as well as products like homeowners insurance and renters insurance.
Compare State Farm vs. Geico
Based on the same methodology we use to systematically rate every insurance provider, you can compare State Farm and Geico in the table below:
| State Farm | Geico | |
|---|---|---|
| Overall Rating | 9.2 | 9.3 |
| Industry Standing | 9.2 | 9.5 |
| Availability | 9.6 | 10 |
| Coverage | 9.4 | 9.1 |
| Cost | 8.8 | 9.5 |
| Customer Experience | 9.1 | 9 |
The “Overall Rating” score is aggregated based on the providers’ scores in the reputation, availability, coverage, cost and customer experience categories.
The lists below contain specific areas where each provider stands out.
Here are a few highlights for State Farm:
- Good discounts for students and young drivers
- Usage-based discounts offered through the program
- Young driver education with discounts offered through the Steer Clear® program
Find out more about State Farm’s services in our State Farm insurance review.
Geico’s highlights include:
- Military, federal employee and corporate group discounts
- Mechanical breakdown insurance (MBI)
- DriveEasy usage-based discount
Find out more about Geico’s services in our Geico insurance review.
Considering each company’s strengths, we named Geico Best for Budget-Conscious Drivers and State Farm Best Customer Experience in our industry-wide review.
| State Farm | Geico | |
|---|---|---|
| Year Established | 1922 | 1936 |
| Availability | 48 states | 50 states |
| AM Best Financial Strength Rating | A++ | A++ |
| Better Business Bureau (BBB) Rating | C- | A+ |
| J.D. Power 2023 U.S. Auto Claims Satisfaction Study℠ | 891 out of 1,000 | 871 out of 1,000 |
| J.D. Power 2024 U.S. Insurance Shopping Study℠ | 695 out of 1,000 | 656 out of 1,000 |
| Our Award | Best Customer Experience | Best for Budget-Conscious Drivers |
State Farm vs. Geico Car Insurance: Coverage
Considering State Farm and Geico are two of the biggest auto insurance companies in the U.S., most drivers can find what they need from either company, whether that’s minimum or full coverage. However, there are a few key differences between State Farm vs. Geico when it comes to auto insurance options.
State Farm offers usage-based insurance in more states than Geico, and it also offers travel expense reimbursem*nt, which Geico does not.
On the other hand, Geico offers MBI, an add-on coverage option similar to an extended car warranty. MBI contracts cover various repairs for unexpected breakdowns, which standard auto insurance typically doesn’t cover.
State Farm and Geico Coverage Comparison
The table below provides information about the specific auto insurance coverage options offered by State Farm and Geico:
| State Farm | Geico | |
|---|---|---|
| Bodily Injury Liability (BI) | ✓ | ✓ |
| Property Damage Liability (PD) | ✓ | ✓ |
| Collision | ✓ | ✓ |
| Comprehensive | ✓ | ✓ |
| Medical Payments (MedPay) | ✓ | ✓ |
| Personal Injury Protection (PIP) | ✓ | ✓ |
| Underinsured Motorist/Uninsured Motorist (UM/UIM) | ✓ | ✓ |
| Roadside Assistance | ✓ | ✓ |
| Rental Car Reimbursem*nt Coverage | ✓ | ✓ |
| Rideshare Insurance | ✓ | ✓ |
| Usage-based Insurance | All states except California, Massachusetts and Rhode Island* | Available in 38 states, plus Washington, D.C.* |
| Travel Expense Coverage | ✓ | |
| Mechanical Breakdown Insurance | ✓ |
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Usage-based Insurance Comparison
Usage-based insurance coverage provides discounts based on your current driving habits instead of your driving history. State Farm’s program is called Drive Safe & Save, and Geico’s program is called DriveEasy. Between the two, State Farm has a more comprehensive program.
| State Farm Drive Safe & Save | Geico DriveEasy | |
|---|---|---|
| Device | Mobile app | Mobile app |
| Can It Raise Your Rate? | No | Yes |
| Availability | 47 states | 38 states |
| Discount | Up to 30% | Varies |
| What It Monitors | Quick acceleration, hard braking, fast cornering, speeding and distracted driving | Distracted driving, hard braking, cornering, smoothness, road type, distance driven, time of day and weather |
State Farm’s program won’t raise your rate, which is one of its advantages. Drive Safe & Save also guarantees insurance discounts with each policy renewal, but they may fluctuate depending on your driving habits. On the other hand, Geico’s DriveEasy program could raise your auto insurance premiums if you drive poorly.
Be aware that your rate with State Farm could change if you lose a low-mileage discount after participating in Drive Safe & Save.
State Farm vs. Geico Costs
In our industry-wide car insurance review, we gave Geico a score of 9.5 out of 10 for cost and State Farm a score of 8.8. Overall, we found that the average price for Geico insurance is a bit lower than State Farm. Geico also offers a wider range of discounts that are applicable to more drivers.
Is Geico Cheaper Than State Farm?
We analyzed rate estimates for multiple driver profiles with each company. According to our estimates, annual full-coverage policies from State Farm cost about $2,544, while policies from Geico cost about $1,995. That said, each provider can be cheaper in different situations. Let’s take a closer look.
| Driving Profile Factor | Geico Full-Coverage Cost | State Farm Full-Coverage Cost |
|---|---|---|
| Good driver, good credit, age 16 | $4,707 | $6,253 |
| Good driver, good credit, age 21 | $2,998 | $4,491 |
| Good driver, good credit, age 35 | $1,995 | $2,544 |
| Has a recent car accident | $3,183 | $2,807 |
| Has a recent speeding ticket (16-20 mph over limit) | $2,574 | $2,644 |
| Has a driving under the influence (DUI) conviction | $3,690 | $2,728 |
As you can see above, Geico is cheaper for young drivers in their early twenties. State Farm, on the other hand, is more affordable for drivers with accidents or DUIs on their records. These cost estimates don’t include discounts the providers offer.
State Farm vs. Geico Discounts
Geico provides a few policy discounts not offered by State Farm, including a 15% military discount and a 12% discount for federal employees at the Eagle level. Geico also offers varying discounts based on partner organizations, like alumni associations and professional groups. Between the two auto insurers, Geico has the better multi-vehicle discount — 25% compared to State Farm’s 20%.
State Farm has the better student discount. Depending on a student’s grades, policyholders can save up to 25% until they turn 25 — Geico’s discount caps out at 15%. State Farm’s Steer Clear program teaches drivers under 25 good driving habits and can also award a policy discount. For these reasons, State Farm is our top pick for students.
| State Farm Discounts | Geico Discounts | |
|---|---|---|
| Multi-Policy | ✓ | ✓ |
| Multi-Vehicle | ✓ | ✓ |
| New Vehicle | ✓ | |
| Good Student | ✓ | ✓ |
| Good Driver | ✓ | ✓ |
| Driver’s Education | ✓ | ✓ |
| Defensive Driving | ✓ | ✓ |
| Student Away at School | ✓ | |
| Air Bags | ✓ | ✓ |
| Daytime Running Lights | ✓ | |
| Anti-Lock Brakes | ✓ | |
| Anti-Theft System | ✓ | ✓ |
| Seat Belt Use | ✓ | |
| Membership and Employee | ✓ | |
| Federal Employee | ✓ | |
| Military Discount | ✓ | |
| Military/Emergency Deployment | ✓ |
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Keep in mind that auto insurance quotes are based on your vehicle, location, driving history, credit score and more. You may find that State Farm is much cheaper than Geico for your particular vehicle and location. State Farm can provide cheap auto insurance in many cases because it spreads out its risk across millions of vehicles.
State Farm vs. Geico Customer Experience
Both State Farm and Geico provide a positive customer experience for most drivers. However, we rated Geico higher overall because it has fewer complaints relative to its size, according to NAIC data.
State Farm did score higher than Geico in the J.D. Power U.S. Insurance Shopping Study, which polled customers on their experiences comparing and buying insurance, and in the Auto Claims Satisfaction Study, which measured claims satisfaction in several categories, including estimation process, repair process, rental experience and settlement. State Farm is also well-regarded for its local agents and the satisfactory customer service they provide. The company has more local agents than any other auto insurance provider.
Compare State Farm and Geico: Customer Reviews
State Farm insurance reviews on the BBB average out to a 1.2 out of 5-star rating, while Geico reviews average out to a 1.1-star rating. Keep in mind, BBB reviews only account for a small fraction of State Farm’s and Geico’s customers. Read our full reviews on State Farm and Geico to learn more about those ratings and the providers’ responses.
Both companies also have highly rated mobile apps, which policyholders can use to view their insurance ID cards, file claims, pay bills and change policy information.
| State Farm | Geico | |
|---|---|---|
| BBB Customer Review Rating | 1.2 out of 5 | 1.1 out of 5 |
| App Store Rating | 4.8 out of 5 | 4.8 out of 5 |
| Google Play Rating | 4.6 out of 5 | 4.6 out of 5 |
The Bottom Line: Geico or State Farm?
After comparing State Farm vs. Geico, we think both providers are reputable choices for coverage. We named Geico as the Best for Budget-Conscious Drivers for its strong industry reputation, affordability and range of coverage options. We named State Farm the Best Customer Experience for its market share and perks like programs for young drivers. However, Geico’s better customer experience ratings and widely applicable discounts can be a deciding factor for some drivers.
State Farm vs. Geico: Auto Insurance Top Picks
Since auto insurance quotes are so personalized, it’s a good idea to compare several quotes.
USAA: Best for Military Members
If you’re affiliated with the military or are part of a military family, USAA is a great option. The company has high auto insurance industry ratings and often provides the cheapest car insurance rates for many drivers.
Read more: USAA Insurance Review
Nationwide: Best for Usage-Based Insurance
Another reputable option is Nationwide, which provides a good usage-based program and plenty of discounts. Nationwide also has a great selection of add-on coverage options for drivers in need of extra protection. So, if you are looking for a variety of comprehensive coverage options and discount opportunities, include a quote from Nationwide in your search.
Read more: Nationwide Insurance Review
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State Farm vs. Geico: FAQ
Below are the most frequently asked questions regarding Geico and State Farm.
State Farm is currently the largest auto insurer in the U.S., though Geico follows closely behind. Both companies have strong financial reputations and customer service ratings from customer online reviews and industry studies.
According to our data, State Farm’s full-coverage average rate of $2,544 per year is slightly cheaper than the national average of $2,681. Similarly, State Farm’s minimum average rate of $861 is a few dollars cheaper than the national average of $869. Overall, it’s not overpriced, but you may find cheaper rates from other companies.
Yes, both State Farm and Geico offer home insurance coverage as part of their large insurance offerings. Additionally, both companies also offer life insurance.
Our Methodology
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.
Here are the factors our ratings take into account:
- Coverage (30% of total score): Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
- Cost and Discounts (25% of total score): Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities are both taken into consideration.
- Industry Standing (20% of total score): Our research team considers market share, ratings from industry experts and years in business when giving this score.
- Customer Experience (15% of total score): This score is based on volume of complaints reported by the National Association of Insurance Commissioners (NAIC) and customer satisfaction ratings reported by J.D. Power. We also consider the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.
- Availability (10% of total score): Auto insurance companies with greater state availability and few eligibility requirements score highest in this category.
Our credentials:
- 800 hours researched
- 130+ companies reviewed
- 8,500+ consumers surveyed
*Data accurate at time of publication.
If you have feedback or questions about this article, please email the MarketWatch Guides team at [email protected].
