Geico
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About Geico
GEICO (Government Employees Insurance Company) is the second-largest auto insurer in the United States, owned by Berkshire Hathaway since 1996. GEICO insures more than 28 million vehicles and has approximately 17 million policyholders. The company is headquartered in Chevy Chase, Maryland and operates primarily as a direct-to-consumer insurer — most business is done online or by phone, cutting out agents and reducing overhead. This model lets GEICO offer highly competitive auto insurance rates that are typically 15-20% lower than the industry average. GEICO's famous gecko mascot and '15 minutes could save you 15% or more' tagline have made it one of the most recognizable insurance brands in the US. Beyond auto insurance, GEICO offers motorcycle, RV, boat, homeowners, renters, and life insurance, often through third-party underwriters. GEICO employs approximately 40,000 people and generated over $39 billion in premiums in 2023.
Frequently Asked Questions
Is GEICO the cheapest car insurance?
GEICO is consistently among the cheapest major auto insurers, particularly for drivers with clean records and good credit. Studies show GEICO is often 15-20% cheaper than the industry average. However, the cheapest insurer varies by state, driving history, and vehicle — always compare quotes from GEICO, Progressive, and State Farm.
GEICO vs Progressive: which is better?
GEICO typically has lower base rates for standard drivers. Progressive often wins for high-risk drivers, those who benefit from Snapshot telematics discounts, or for comparing multiple quotes via the Name Your Price tool. GEICO's claims process is rated highly; Progressive offers more customization. Both are financially strong with A+ AM Best ratings.