Who is GEICO's biggest competitor?
Asked by: Rubye Torphy Sr. | Last update: December 22, 2025Score: 5/5 (30 votes)
Who is GEICO's competitor?
GEICO competitors include USAA, Nationwide Insurance, Liberty Mutual Insurance, Allstate and State Farm Insurance. GEICO ranks 4th in Diversity Score on Comparably vs its competitors.
Who is the #1 insurance company in the USA?
State Farm is the largest auto insurance company in the U.S. based on written premium, or the total amount it bills customers. Progressive is the second-largest car insurance company, followed by Geico and Allstate.
Who can beat Geico insurance?
Typically, Esurance offers better prices than GEICO for drivers with credit scores of 579 or less. Those with outstanding credit — a score of 800 or better — should opt for Esurance as well, which typically beats GEICO by $295 per year. View average insurance rates by credit tier for GEICO and Esurance below.
Who is the largest auto insurer in the US?
For auto policies, State Farm is the largest insurance company in the U.S., with the biggest market share (16.9 percent) and over $46.6 million in direct premiums written in 2022. It also boasts an A++ (Superior) financial strength rating from AM Best.
Who is GEICO's biggest competitor
Where does Geico rank in insurance?
No. 2-rated Auto-Owners may be the best choice for many drivers, but it only sells car insurance in 26 states. Nationwide, State Farm, and Geico round out the top 5 in our rating and sell policies in more states.
Is GEICO overcharging?
Geico Faces California Class Action Suit for Overcharging for Auto Insurance. A federal judge ruled that a lawsuit against Geico Corp for overcharging for auto insurance during the COVID-19 pandemic may move forward as a class action.
Who is better, Progressive or GEICO?
According to the J.D. Power 2024 U.S. Auto Claims Satisfaction Study, both companies scored below average for customer satisfaction. That said, Geico did score higher than Progressive, with 692 out of 1,000 compared to 672. Keep in mind that these are scores based on customer feedback.
Is GEICO or Allstate better?
GEICO vs Allstate: Which is Better for You? GEICO is much cheaper and has better ratings than Allstate. Your experience with GEICO and Allstate will vary based on individual rating factors.
Who owns Geico?
In 1996, GEICO became a wholly owned subsidiary of Berkshire Hathaway Inc., headed by Warren Buffett, one of the country's most successful investors. For the past several years, Fortune magazine has named Berkshire Hathaway as one of its the most admired companies.
What is GEICO's weakness?
Weaknesses of GEICO
The major drawbacks are as follows: Research and Development: GEICO has a good share of expenditure on the research and development department but it is spending way less than a few of the players within the industry which have benefitted as a result of their innovative products.
Who is the #1 insurance company in the US?
1. State Farm. State Farm is the largest car insurance provider in the US, accounting for almost 17% of the overall market. The figure is equivalent to over $8 billion more in direct written premiums compared to the next-ranked insurer.
What is GEICO's reputation?
GEICO Insurance Review. With an overall score of 4.0/5 in 2025, GEICO is a solid insurance company.
Why is Geico so popular?
Geico's success as an insurance company has come from offering consumers independence and low prices, as well as rolling out effective advertising campaigns that highlight savings. Chief among the forces behind Geico's success is the insurer's innovative and user-friendly initiatives.
Is Geico hard to deal with?
This insurer also generally has very professional adjusters, many of which are easy to like. But here is the truth: GEICO is a very difficult insurer to deal with in accident claims, particularly before a lawsuit is filed.
Where does Geico rank?
Of the 10 insurers in our rating, Geico is fifth cheapest overall and State Farm is seventh. Customer service: State Farm scored higher than Geico. Claims handling: State Farm scored higher than Geico. Customer loyalty: State Farm scored higher than Geico.
Why is GEICO in trouble?
The Chronicle reports that insurance industry magazines linked Geico's decision to close California sales offices to its failure to raise insurance prices in compliance with Sacramento regulations and other market forces.
Is GEICO more expensive than Progressive?
GEICO is cheaper and has better ratings than Progressive. Your experience with GEICO and Progressive will vary based on individual rating factors.
Who is the most trustworthy insurance company?
State Farm is a three-time Bankrate Award winner for Best Term Life Insurer in 2022, 2023 and 2024, thanks to its top-notch customer service and accessibility tools. As one of the top life insurance companies, State Farm also received the highest customer satisfaction score from J.D. Power.
What is the most expensive insurance in the world?
We've set a new Guinness World Record for the most valuable life insurance policy ever sold, worth US$250 million. Issued and fully underwritten by HSBC Life, our insurance business in Hong Kong, it was taken out by an individual customer earlier this year.
Who is the number one insurance broker in the world?
Marsh McLennan stands as the world's largest insurance broker, offering a comprehensive suite of risk management, insurance brokerage, and consulting services. With a history dating back to 1871, the company has built a reputation for innovation and thought leadership in the industry.