Geico is one of the largest insurance providers in the U.S., and they are well known for their popular tagline “15 minutes could save you 15% or more on car insurance”. How true is this? We believe it is 100% spot-on; Geico has maintained its spot amongst the big insurance shots not because of branding but from its customers’ quality of service.
Geico Car Insurance Review
Cost
This is the most important factor for just about anything, insurance included. Geico’s insurance premiums may not be the cheapest, but they are one of the most affordable.
The company can keep its rate affordable because of its numerous discount packages.
Coverage
When shopping around for an insurance policy, it’s essential to know what type of coverage suits your needs. For example, every state requires drivers to have their vehicles insured before hitting the road. However, the minimum coverage requirements for each state varies.
Many are advised to go for full coverage if they can afford it. Note that full coverage isn’t a policy but a combination of different coverage types such as liability, collision, and comprehensive.
Below we highlighted what coverage Geico offers for their insurance policies:
Liability Coverage – this includes bodily injury or death of people from an accident caused by you. It also covers damage to people’s property from accidents caused by you.
Vehicle Coverage – this consists of collision and comprehensive coverage. Asides from covering you from accidents where your car is hit or where you hit someone, the comprehensive aspect covers theft, vandalism, etc.
Uninsured Motorist Coverage – not everyone on the road is like you, a law-abiding licensed driver with car insurance. Sometimes, you may get involved in an accident with someone with no insurance or underinsured. That’s where uninsured motorist policies come to play.
Medical Coverage – This covers medical expenses relating to a car accident, and some of these policies offer coverage regardless of who caused the accident.
Claim Process
In a J.D. Study conducted in 2021, Geico Insurance ranked 8 out of 18 companies regarding auto insurance claim satisfaction. That’s a little above average and not so bad.
The company has adopted several methods to make the claim process easier for its customers. For example, you can file a claim online, via the mobile app, or with a phone call.
Customer Satisfaction
Generally speaking, Geico customers are satisfied with the service they get. If they weren’t, the company wouldn’t have succeeded in rising to the ranks of the most successful insurance companies in the U.S.
Factors To Consider When Selecting Car Insurance With Geico
Your choice of auto insurance policy requires a lot of thought; when purchasing insurance, we would advise you to think of it as getting married.
While it is possible to walk away from the first choice if it wasn’t the right decision, the consequences that follow are severe. Therefore, it’s better to get it right the first time.
Below we highlighted the major considerations associated with selecting an auto insurance policy:
Company Reputation
There’s a reason why branding is important, always go for a company that has carved a name for itself in the industry. But, of course, we are not saying that you should always go for the industry big shots like Geico, State Farm, and Lemonade.
However, going for a small company with little presence puts you at a higher risk of falling victim to scammers and poor customer service.
This isn’t to say that all upcoming businesses are fraudulent or that all small companies have poor customer service, but it is easier to judge the kind of service you would get from a well-known company. Always conduct proper background research before patronizing any business.
Cost
This is one factor that cannot be overlooked when searching for a policy that suits your needs. In addition, several factors affect the cost of an insurance policy, such as the company’s operational fees, your agent or brokers, fees, your age, health status, accident record, etc.
Insurance should be a convenient way to protect yourself, so be sure to go for a policy with premium rates you can comfortably afford.
And don’t be scared to cough a little more than you budgeted for a service that is exactly what you need.
Coverage
Why else do we get insurance if not for the coverage it offers. For example, if you live in an area with high robbery rates, you want the insurance coverage to protect you from robbers and not a fire incident. If your property is situated in a location that floods, you want coverage against floods and not earthquakes.
Your insurance policy should offer coverage that is specific to your needs. It is important to communicate these needs with your insurer or insurance agent to ensure you get the right policy for you.
Claim Process
We hear of many insurance companies that offer great insurance policies at affordable rates but have an unbelievably difficult claim process. Sometimes the stress involved is so much that we’d rather not file for the claim at all.
Make inquiries about the process involved in filing a claim so that you aren’t left frustrated and helpless when the need arises.
Customer Reviews
This boils down to our first factor on company reputation. Before you purchase a policy from any company, a quick google search can tell you whether you are making the right decision or not. Next, look at what other customers had to say about their services.
Are they satisfied with what they got? And if they were some dissatisfactions in the service received, how did the company react to it? All these things will help form the basis for your final decision.
Conclusion
Geico is one of the largest insurance companies in the U.S., loved by many for their nostalgic Geico mascot and for the top-notch service they’ve provided for over 75 years. After examining a few factors, we can conclude that Geico saves you 15% or more on car insurance in 15 minutes.
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