Personal Finance Expert
Tyron Jones is a finance expert who has operated within the auto insurance business for more than 10 years. He has written many other finance related articles for a number of prominent publications.
How They Work
Every insurance company works a little bit differently. Before you can compare the pricing structure of Progressive and GEICO, it's a good idea to look at how the company works from the consumer end. While both offer many of the same products and typically have very similar user experiences, each does have a slightly different philosophy when it comes to bringing in new customers and offering them information about the types of coverage that might be available to them.
The Progressive Model
Progressive has made a big deal in recent years about its ability to give you quotes from more than just their own company. Progressive is one of those insurance companies that largely lives online, using its price matching tools to give you not only a good look at what else is out there, but also to try to undercut the competition. Progressive is also an all-in-one solution, encouraging its customers to bring all of their policies under one umbrella. While the sheer amount of information that you get from the company should be overwhelming, its presentation is simple enough to allow most consumers to make a quick but informed decision.
The GEICO Model
When you check with GEICO to get a quote, you're really just going to be checking with GEICO. A direct-to-consumer agency, it's what most consumers think of when they think of an insurance company. When you shop for a quote with GEICO, though, you're only going to see what GEICO has to offer – no comparisons available, and you're certainly not going to be directed to another website. In some states, you may also have to contact the company directly in order to get quotes for things like renter's insurance even if you are able to apply for your auto insurance online.
Rates by Age
One of the major factors that tend to influence insurance price is age. As a rule, your rates are going to go down as you get older. Both GEICO and Progressive follow this rule, with their highest rates being offered to teens and their lowest rates being offered to senior drivers. In both cases, you'll see significant dips in pricing between the various age groups, with each decade dropping the average premium by quite a bit.
GEIC has the lowest premiums overall, but special attention should probably be paid to the rates offered to younger drivers. The average premium for a teen with GEICO is around thirty-five hundred (3500) dollars per year, less any offered discounts. The rates for Progressive are nearly twice that high, sitting at nearly eighty-three hundred (8,300) dollars per yar. This makes GEICO an obvious choice for teens.
The gap between the two companies in terms of raw price really doesn't change that much until the drivers get into their forties. From that point forth, each decade will bring premiums closer, with the final gap between prices in a driver's sixties only separated by about four hundred dollars. Regardless of age, though, GEICO tends to cost a bit less than Progressive.
Rates by Credit Score
Credit score is another major factor that insurance companies tend to look at when determining rates. The lower your credit score, the more of a non-payment risk you represent to the company and the more they are likely to charge. Again, this is a situation in which GEICO's lower rates tend to significantly undercut what Progressive can offer its drivers.
GEICO tends to be exceptionally kind to those with very good or very bad credit. If you have a score of under 579, you should expect to pay around two-thousand and fifty dollars with GEICO but around three-thousand six hundred with Progressive. Again, the gap tends to narrow between the two companies as credit scores go up, with a divide of about two-hundred fifty dollars in favor of GEICO as credit scores reach the eight hundred level. Read more about bad credit auto insurance options.
It's important to remember that the difference between these two prices can be skewed a bit when certain discounts are applied. As a rule, though, you should expect to see GEICO offering lower overall prices for those who have scores that move farther away from the median.
Rates for High-Risk Drivers
Perhaps the biggest factor in determining how much your premiums will be over the average is your driving history. While Progressive and GEICO both insure drivers who have had problematic histories, both companies do charge those drivers more. Because the two companies weigh the various offenses differently, you'll tend to get different results depending on who you insure with and what you've done in your past.
GEICO is, for the most part, a less expensive company to work with if you've been in a wreck. Its average premiums are almost nine hundred dollars less per year for those who have been in major accidents, and almost eight thousand per year for those who have been in big accident. Likewise, GEICO is more forgiving of speeding tickets (about seven hundred dollars less per year), but only a little more forgiving of reckless driving (about two hundred dollars less per year).
Progressive, on the other hand, tends to assess slightly less of a risk to those who have been convicted of a DUI or DWI. The average premium for DUI car insurance is about two-thousand-two hundred dollars with Progressive, while GEICO charges about three hundred dollars more per year for drivers with the same background. You'll need to compare multiple companies to find cheap SR22 insurance though.
Discounts are a huge part of the insurance game. The rates listed above are all rates that have no discounts attached; both GEICO and Progressive can offer significant discounts to lower those rates. In fact, some of Progressive's discounts can actually bring their prices closer to parity with those of Progressive. Looking at both companies will give you a good idea of where you might be able to save money even when the average driver might have a very different experience.
Progressive tends to offer a fairly basic suite of discounts for its customers. They offer Good Student discounts for teens and college students, discounts for those who have multiple policy types or multiple vehicle policies with the company, and discounts for those who take defensive driver courses. Progressive also tends to offer discounts for having any kind of anti-theft device in your car, as well as a discount for using the company's ‘safe driver' tracking technology. Homeowners get discounts as well, as do active military service members and veterans. The company does come up with new discounts as a fairly regular basis, so it always pays to see if they are offering something new.
GEICO has an incredibly robust discount system, with most members qualifying for something. GEICO offers all of the same discounts as Progressive, plus a handful of other unique programs. GEICO offers discounts for vehicles with airbags and anti-lock brakes, for example, as well as for drivers who have a clean driving record. What GEICO does lack, though, is a discount for any kind of telematics system – as of the moment, GEICO hasn't followed State Farm or Progressive into the tracking app space.
Every insurance company has a handful of little extras, some of which might mean more to drivers than others. Both GEICO and Progressive do manage to offer an impressive array of services, ranging from online payment systems to roadside assistance. How much these extras mean to the individual consumer varies, of course, and these minor additions generally fall into the category of ‘quality of life' rather than anything more major. With that said, there are a few of these extra services that can make switching to or from one of these companies a little more attractive to some consumers.
Progressive tends to be one of the few insurance companies that put a great deal of effort into retaining customers over the long-term. The longer you stick with GEICO, the more perks you'll get. This includes not just things like accident forgiveness, but also getting priority response to your calls. Progressive also has an excellent Roadside Assistance service, but it does require having a fairly hefty policy in order to be accessed. All told, though, Progressive manages to even more friendly to existing customers than to newer customers.
GEICO is all about saving consumers money on the little things. It has a host of tiny discounts that don't typically show up elsewhere (like the discount for running lights) and a great app that allows users instant access to Roadside Assistance. Unlike Progressive, it doesn't tend to have quite as many loyalty rewards, though, so many of the company's best discounts really are reserved for those who have recently transferred their policies. With that said, GEICO also offers a handful for low-price policy options that are honestly hard to find without looking at a discount company.
Choosing the Right Company
There's not a one-size-fits-all choice that's going to satisfy every consumer. Instead, it's best to see if you fit into a profile that's going to make either GEICO or Progressive a better fit for your needs. Both of the companies do an excellent job with their customers of choice and both have fairly high consumer ratings, so your goal is to figure out if you're the type of person that is best positioned to get the best service from either.
Who Should Choose GEICO?
If you want the lowest possible price, GEICO is the company for you. This holds especially true if you are a young driver or a driver with bad credit, as the company will save you hundreds of dollars per year. GEICO is also a very good choice if you are safety conscious but don't want to deal with app tracking, and it's also very useful for anyone who wants to be rewarded for going accident-free. With that said, GEICO is still an excellent choice for anyone who has been in an accident or gotten a few tickets, as they are somewhat less aggressive in their pricing models towards those with imperfect histories.
Who Should Choose Progressive?
You should absolutely choose GEICO is you have more of a “middle of the road” driving history or credit score. Ideal drivers haven't been in accidents but have demonstrated safe driving techniques, and they don't mind being monitored in order to save a bit more over time. You should definitely also consider staying with Progressive if you already have policies there, as you're going to get more from the company as time goes by. While you probably won't get the lowest price overall, you'll be well-served by Progressive if you want a company that's going to appreciate your loyalty.
General Questions about Progressive
This section answers your general questions about Progressive car insurance.
Is Progressive good car insurance?
Many people think so – it’s one of the most popular car insurance companies in the country, and it uses lots of tools to get you the lowest price. So this may be a good option if you're hunting for a lower auto insurance rate.
Does Progressive offer non owner car insurance?
Progressive will only offer non owners car insurance to existing customers, and you’ll need to contact an office directly.
Does Progressive insure salvage title cars?
You can get comprehensive coverage on rebuilt cars at Progressive, but it doesn’t include coverage for theft, vandalism, or fire.
Who owns Progressive car insurance?
Progressive car insurance is owned by Progressive Corp, with Peter B. Lewis as the Chairman.
Progressive Claims and Coverage
We’ll answer your most popular questions about Progressive claims and coverage in this section.
Does Progressive insurance cover rental cars?
Yes, your Progressive primary car insurance will cover rental cars. You must be sure to waive the insurance the rental company offers for your insurance to take over.
Does Progressive car insurance cover windshield replacement?
That depends on how the windshield was damaged. You’ll need to talk to a Progressive agent to get more information about your situation.
Does Progressive car insurance cover hitting a deer?
If you have comprehensive coverage on your car, then your Progressive insurance will cover accidents involving deer.
Does Progressive car insurance cover rental trucks?
Yes, but you should keep in mind that you keep the same insurance limits as your standard policy, and accidents involving a truck can get very expensive.
Does Progressive car insurance cover flood damage?
It depends on your policy. If you have comprehensive coverage then your car is protected from damages that occur from elements beyond your control, like floods.
Does Progressive car insurance cover cracked windshield?
In some cases, it depends on your policy and how the damage was caused. You’ll need to talk to a Progressive agent to get more information.
Does Progressive car insurance cover hail damage?
If you have a comprehensive policy from Progressive, then it will cover hail damage in most cases.
Will Progressive insure a car not in my name?
In some cases, but not in most of them. You’ll need to contact your Progressive agent to get more details about your situation.
Progressive Pricing and Payments
This section answers your questions about Progressive Pricing and Payments.
How much is Progressive car insurance?
That depends on lots of different factors, like where you live, your driving record, and what kind of car you have. On average, Progressive customers pay about $137 per month. Ask about no deposit auto insurance if they offer this.
Why did my Progressive car insurance go up?
There are lots of reasons for your car insurance rates going up, including changes to your driving record, credit score, address, car, and more.
Does Progressive car insurance go down at 25?
It can, but it depends on your driving record more than anything else. The reason rates tend to drop at 25 is because that’s when companies have enough information to make more accurate predictions about your risk. So take this into account when auto insurance shopping if you're looking for lower rates.
How to get Progressive to lower my car insurance?
You can contact Progressive and ask about different programs and policies they have to lower your car insurance. This includes discounts for good grades, driving classes, professional organizations, and more.
What is the grace period for Progressive car insurance?
Progressive insurance offers a 30-day grace period on their policies.
What happens if I pay my Progressive car insurance late?
If you make your payment late, then you may have a late payment fee. If your payment is more than 60 days late, then you may lose coverage and be responsible for the remainder of your premium.
How much is full coverage car insurance with Progressive?
That depends on where you live, your driving record, what kind of car you drive, and so on. On average, Progressive customers pay about $137 per month for insurance. Compare other cheap full coverage auto insurance options on our site.
How to renew car insurance Progressive?
You’ll need to see if your insurance policy automatically renews or not. If it doesn’t then you’ll need to contact Progressive before your policy expires to set up a new policy or a renewal.
Is Progressive the cheapest car insurance?
It is for some people, but not for everyone. That’s why it’s important to shop around to find the best car insurance prices for you. For example it may cost more for car insurance for leased car.
Can I bundle Progressive renters and car insurance?
You can get a multi-policy discount if you have more than one insurance product with Progressive. They may also offer gap car insurance.
Other Progressive Questions
We’ll cover questions about Progressive car insurance that don’t fit into our other categories here.
How to add a car to Progressive insurance?
You can add a car to your Progressive insurance by logging on to your account online or by calling your Progressive agent.
Can I add my girlfriend to my car insurance Progressive?
In most cases, yes. If you live together, then you’re actually required to add your girlfriend to your car insurance or exclude her.
Can I put my Progressive car insurance on hold?
That depends on your specific situation. You’ll need to talk to a representative from Progressive to find out if you qualify for an insurance hold.
Can I insure a car for 2 months with Progressive?
It’s possible, but it depends where you live and on other factors. A Progressive representative will be able to tell you if a two-month policy is an option for you.
General Questions about Geico
This section covers general questions about Geico car insurance.
Is Geico a good car insurance?
Lots of people like the service and the price they get from Geico car insurance, so it’s worth checking out to see if it’s right for you. However to find cheap bad driver insurance you may need to do some comparison shopping.
Is Geico the best car insurance?
That depends on what you’re looking for. They offer the best insurance quotes for many people, but others will do better with another insurance company. Use an insurance search tool to compare rates in your area.
Does Geico have classic car insurance?
Yes there is Geico classic car insurance. The program is called Collector Car Insurance. The policy allows you to have an agreed-value coverage.
Geico Claims and Coverage
We’ll answer your most common questions about Geico claims and coverage in this section.
Does Geico cover rental car insurance?
Yes, if Geico is your primary car insurance, then they will also cover any rental cars you get up to your standard insurance limits. You could also see if there is one day car insurance Geico offers.
Will Geico insure a car not in my name?
They will, but not always. You’ll need to check with Geico to see if they’ll offer a policy in your specific situation.
Does Geico car insurance cover hurricane damage?
Geico’s comprehensive coverage will cover hurricane damage, but their liability only insurance policies will not.
Will Geico insure a rebuilt title car?
Yes. Geico will insure rebuilt title cars. They’re actually one of the few companies that will pretty much always do this.
Does Geico car insurance cover flood damage?
If you have a comprehensive policy from Geico, then the flood damage to your car is covered. Otherwise, you’ll need to check with your homeowners or flood insurance providers.
What does full coverage car insurance cover Geico?
“Full” coverage isn’t an actual insurance product. Geico will offer liability insurance to the state minimum limits and above, and offer comprehensive insurance that will protect your car from collision, weather, and so on.
Does Geico car insurance cover towing?
Towing is an optional extra that you can add to your Geico policy. You’ll need to check your specific policy to see if towing is covered.
Does Geico car insurance cover other drivers?
As long as you gave the other person permission to use the car and they aren’t a regular driver of the car, then yes, other drivers are covered in your insurance.
Does Geico car insurance cover hail damage?
Geico car insurance will cover hail damage only if you have a comprehensive coverage policy with them.
How to file a car insurance claim with Geico?
The best way to file a claim with Geico is either by logging into your account online and selecting the option to file a claim, or by calling your Geico agent.
Does Geico car insurance cover windshield replacement?
It depends on the nature of the damage and how it was caused. Usually Geico will offer to repair the windshield at no cost if the crack is smaller than a dollar bill.
Geico Pricing and Payments
This section answers your questions about Geico pricing and payments for insurance policies.
How to lower car insurance Geico?
The best way to lower the cost of Geico car insurance is to ask about discount programs you can qualify for. Things like good driving, additional driving training, good grades, and discounts for professional organizations are all options.
How much is Geico car insurance?
On average, Geico customers pay about $136 per month. However, your price might be different depending on where you live, what type of policy you get, and other factors. Geico rideshare insurance may have different rates.
How much does Geico car insurance cost a month?
Geico customers have an average monthly payment of about $136. However, you might get a higher or lower quote depending on what kind of insurance you want, your driving record, the car you drive, and so on.
Does Geico car insurance go down at 21?
It can, but it depends on your driving record, the car you drive, and other factors as well. You can contact Geico to find out ways to lower the cost of your insurance. Some say they have the cheapest car insurance for college students if that describes you.
Does Geico car insurance have a grace period?
Geico has a 9-day grace period you can qualify for if you contact them and explain why you’re having a problem making your payment.
How many cars can I insure with Geico?
There’s no limit on the number of cars you can insure with Geico, however, at a certain point the company may ask that you restructure your policy to deal with the number of vehicles you have.
How to save money on Geico car insurance?
The easiest way to save money on Geico car insurance is to look for programs like good grades discounts, good driver discounts, and additional driving training. These will reduce your premium rate.
Can Geico save you 15 or more on car insurance?
They can, but you should always shop around to make sure you’re getting the best possible deal when it comes to car insurance.
Does Geico car insurance go down at 25?
It can, but it largely depends on your driving record. Assuming nothing else changes, you should see the price of insurance go down at 25 with Geico.
Does Geico bundle car and renter’s insurance?
Geico doesn’t advertise any bundling, but you can get a multi-policy discount on your insurance if you have more than one kind of insurance through Geico. Be sure to compare with other companies to find the best auto and home insurance bundle in your area.
Other Geico Questions
This section covers questions about Geico insurance that don’t fit into our other categories.
How to add another car to Geico insurance?
You can add another car to your Geico insurance by going online and logging into your account. You can also call your Geico agent to add a car to your policy.
What is the NAIC number for Geico car insurance?
Geico’s NAIC number is 220055.
Can I add my friend to my car insurance Geico?
It’s possible. If you live at the same address, or your friend frequently borrows your car, then Geico will probably let you add them to your insurance.