There are few insurance companies that are as popular as GEICO and Progressive. Auto, house, renter’s, and business insurance are just some of the many coverages offered by both firms. Both GEICO and Progressive have earned a solid reputation for providing competitive rates and a wide range of discounts that can be applied to your premium.\u00a0 After looking at a number of different insurance policies from both GEICO and Progressive, we determined that Progressive was the better overall option. If you’re looking for coverage and discounts, Progressive is your best bet. However, many buyers will find that GEICO’s policies are cheaper, while the coverage is limited. In this article, we will discuss the full comparison of Progressive vs. Geico auto insurance, motorcycle, and home, as well as the comparison with State farms.<\/p>\n\n\n\n
Since its founding in 1936, insurance provider Geico has called Chevy Chase, Maryland, home to its headquarters. Although the federal government and the military were the primary target markets for Geico’s insurance coverage at first, the company has since opened its doors to the general public. It offers car, home, renter, and small business insurance.<\/p>\n\n\n\n
Established in 1937, Progressive Insurance has called the Cleveland area home since its inception. In addition to car insurance, the company offers coverage for other kinds of vehicles, as well as insurance in categories such as homeowners and renters, business, pet, and dental.<\/p>\n\n\n\n
Not only did we rank Geico higher than Progressive overall, but we also found that Geico performed better in several subcategories, including claims processing, likelihood of being recommended, and best for seniors. Our research found that Progressive ranked almost bottom in the categories of most likely to be recommended, top firms for customer loyalty, and best for seniors.<\/p>\n\n\n\n
In a recent survey, 48% of Geico policyholders reported being entirely satisfied with the value they received from their insurance. However, this number dropped to 45% for those who had submitted a claim. About 43% of Progressive customers felt entirely satisfied with the value they obtained from the company, while 50% of Progressive customers who had filed a claim said they were completely satisfied.<\/p>\n\n\n\n
We surveyed over 9,500 customers and analyzed vehicle insurance quotes to arrive at our comparison of insurers.<\/p>\n\n\n\n
Your actual auto insurance premium may be more or less than the example rates we provide due to factors like your driving record, the type of vehicle you drive, your geographic region, and other factors.<\/p>\n\n\n\n
The insurance policies of both Geico and Progressive are comprehensive. This means that the six most common forms of auto insurance coverage are all available from every carrier:<\/p>\n\n\n\n
Most drivers should have full insurance, but many simply have the legally required minimums. Approximately 25% of drivers have minimum coverage and approximately 67% have complete coverage, according to our team’s assessment of 1,000 auto insurance clients in 2022.<\/p>\n\n\n\n
Affordable auto insurance is available from both Geico and Progressive. In general, Geico has cheaper rates, but for high-risk drivers, Progressive is the better option. Those who have received a DUI caused an accident, or received a speeding citation within the past several years are considered high-risk drivers.<\/p>\n\n\n\n Of course, prices are different for each driver because of a variety of criteria, such as:<\/p>\n\n\n\n In addition, getting auto insurance quotes from Geico and Progressive is the only way to determine which one will be more cost-effective for you. Your eligibility for discounts will determine which insurance will be the most cost-effective for you.<\/p>\n\n\n\n Although Geico and Progressive both provide opportunities to save money, the specific reductions that each company provides vary slightly. The following is a detailed examination of the rebates made available by each service provider. <\/p>\n\n\n\n In addition to its discounts, Progressive also provides a number of other ways to save cash. For example:<\/p>\n\n\n\n Also, if you go a certain amount of time without filing a claim, Geico will automatically add accident forgiveness coverage to your policy at no extra cost. Specifics and states have different availability.<\/p>\n\n\n\n When it comes to customer service, Geico matched with three other firms for the No. 4 slot in the subcategory of best auto insurance for customer service. There are eight places where Progressive is in a tie for eighth.<\/p>\n\n\n\n Customers are equally as devoted to Geico as they are to the number-four company. Tenth place went to the Progressive camp. We found that 57% of Geico policyholders who took part in our poll were pleased with the company’s handling of their new policies, while 51% of policyholders who had submitted claims were also pleased.<\/p>\n\n\n\n While 57% of individuals who had filed a claim were satisfied with Progressive’s new policy process, 58% of those who hadn’t indicated their satisfaction with the firm.<\/p>\n\n\n\n When asked how satisfied they were with Geico’s customer service, 50% of customers who hadn’t filed a claim gave the company a perfect score, whereas just 47% of customers who hadn’t filed a claim gave the same rating to Progressive. But more Progressive customers (55%) than Geico customers (52%), who filed claims, reported being entirely satisfied with the ease with which they could reach customer support.<\/p>\n\n\n\n Today’s insurance providers offer cutting-edge online resources to help policyholders save money on auto coverage because they recognize the growing importance of digital channels. In this category are telematics programs, which analyze your driving patterns. These programs can have an impact on the cost of your insurance and function with the use of an app or small gadget that is placed in your car to harvest real-time data on your driving skills. With the help of the telematics program, you may be able to get a lower premium if you can demonstrate that you are a safe driver. <\/p>\n\n\n\n It is crucial to weigh the benefits of telematics programs against the possibility of a rate increase before deciding whether or not to enroll.<\/p>\n\n\n\n Progressive Insurance, like many other insurance companies, evaluates various factors when determining policy rates. While they might not have a fixed policy of raising rates after exactly 6 months, insurance premiums can be adjusted periodically. Rate adjustments can occur for several reasons, such as changes in driving history, claims filed, location, or even updates in the company\u2019s overall pricing strategy.<\/p>\n\n\n\n Insurance companies regularly review their policyholders\u2019 information to ensure that rates reflect the current risk profile accurately. This means rates might change at renewal, which typically occurs every six months. However, the specific rate adjustments and their timing can vary based on individual circumstances and regional regulations.<\/p>\n\n\n\n It\u2019s important to review your policy documents and communicate directly with Progressive Insurance to understand how their rates might be adjusted in your specific situation, as policies and regulations can change over time. Stay informed about your coverage to make well-informed decisions regarding your insurance needs.<\/p>\n\n\n\n For the same reasons that other insurance providers provide 6-month coverage, so does Progressive. The capacity to adjust rates to reflect shifts in risk factors, including driving histories, accident rates, and other factors, is crucial. Because of this, the corporation can efficiently respond to shifting market conditions and consumer preferences. Shorter policy terms also give the insurer and policyholder more leeway to make changes. <\/p>\n\n\n\n Customers can reevaluate their coverage needs on a more regular basis, and insurers can maintain a competitive edge by modifying premiums in real-time. In addition, insurers may better manage their finances with the support of a steady income flow provided by 6-month plans. Insurers are able to more regularly reassess the risk profiles of their clients because of the shorter policy duration, which may result in more precise pricing. All these reasons add up to why so many insurance companies provide plans with a 6-month duration.<\/p>\n\n\n\n When it comes to auto insurance, Progressive comes in at third and GEICO at second. The average monthly auto premium for GEICO is $156, with Progressive’s at $162.<\/p>\n\n\n\n GEICO started off as the Government Employees Insurance Company for government employees and the military in 1936. It expanded its services to the public somewhat thereafter. It became a wholly-owned subsidiary after Warren Buffett’s Berkshire Hathaway acquired it in 1996.<\/p>\n\n\n\n Also, it is available in all 50 states and DC. GEICO ranked #13 in J.D. Power’s auto claims satisfaction survey and is placed #3 in Insider’s guide to the best car insurance carriers. The first issue of Progressive appeared in 1937. In a survey of 18 different auto insurance providers, it received a ranking of #17. The availability of Progressive is nationwide.<\/p>\n\n\n\n When comparing monthly premiums, discounts, and overall customer happiness, GEICO ranks head and shoulders above the competition.<\/p>\n\n\n\n In disaster-prone areas, where homeowners may file many claims in a single year, even the cheapest homeowner’s insurance coverage will be of little use if the insurer has a bad reputation for customer satisfaction.<\/p>\n\n\n\n When it comes to market share, Progressive ranks as the tenth-largest homeowner’s insurance provider. In contrast to its dominance in the vehicle insurance industry, GEICO is a minor participant in the house insurance sector.<\/p>\n\n\n\n According to J.D. Power’s study of house insurance providers, GEICO ranked dead last in customer satisfaction. Even more telling is the fact that Progressive, the tenth largest homeowners insurance provider, did not make the cut in J.D. Power’s customer satisfaction survey. <\/p>\n\n\n\n There’s always talk about which insurance company is better, Progressive or GEICO. These insurers offer full protection for your home, auto, and property.<\/p>\n\n\n\n<\/td> High-Risk Drivers (DUI)<\/td> Low-Risk Drivers (DUI)<\/td><\/tr> Geico<\/td> $3,641<\/td> $1,596<\/td><\/tr> Progressive<\/td> $2,548<\/td> $2,030<\/td><\/tr> Average<\/td> $3,431<\/td> $2,008<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n \n
Progressive vs. Geico: Discount<\/strong><\/span><\/h2>\n\n\n\n
<\/td> Geico Discounts<\/td> Progressive Discounts<\/td><\/tr> Multi-Policy<\/td> \u2713<\/td> \u2713<\/td><\/tr> Multi-Vehicle<\/td> \u2713<\/td> \u2713<\/td><\/tr> New Vehicle<\/td> \u2713<\/td> <\/td><\/tr> Homeowner<\/td> <\/td> \u2713<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n \n
Progressive vs. Geico: Customer Experience<\/strong><\/span><\/h2>\n\n\n\n
Geico vs. Progressive: Usage-Based Insurance Comparison<\/strong><\/span><\/h2>\n\n\n\n
<\/td> Geico DriveEasy<\/td> Progressive Snapshot<\/td><\/tr> Telematics device<\/td> iOS or Android app<\/td> iOS or Android app; or plug-in device<\/td><\/tr> Monitored driving factors<\/td> Braking, accelerating, time of day, mileage, use of mobile phone, and speeding<\/td> Braking, accelerating, time of day, mileage, use of mobile phone and speeding<\/td><\/tr> Potential impact on rates<\/td> May increase your rate<\/td> May increase your rate<\/td><\/tr> Potential discount<\/td> Varies<\/td> Average annual savings of $156<\/td><\/tr> Availability<\/td> Available in 33 states and Washington, D.C.<\/td> 49 states (except California)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Does Progressive Raise Rates After 6 Months?<\/strong><\/span><\/h2>\n\n\n\n
Why Does Progressive Do 6-Month Policies?<\/strong><\/span><\/h2>\n\n\n\n
Progressive vs Geico: Auto Insurance<\/strong><\/span><\/h2>\n\n\n\n
<\/td> Geico<\/td> Progressive<\/td><\/tr> Market share (%)<\/td> Second largest auto insurer: 13.56%<\/td> Third largest auto insurer: 13.26%<\/td><\/tr> Average monthly auto premium<\/td> $156<\/td> $162<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Geico vs. Progressive: Auto Insurance Features and Discounts<\/strong><\/span><\/h3>\n\n\n\n
Geico<\/td> Progressive<\/td><\/tr> Snapshot \u2014 A telematics-based system that adjusts your premium in real time while you drive.<\/td> Set Your Own Price \u2014 You can discover how much coverage you can afford by setting your own premium.<\/td><\/tr> Anti-lock brakes \u2014 Anti-lock brakes installed by the manufacturer are eligible for discounts of up to 5%.<\/td> Snapshot \u2014 A telematics-based system that adjusts your premium in real-time while you drive.<\/td><\/tr> Protection against theft \u2014 Discounts as high as 23% are available for those who purchase an anti-theft device for their car.<\/td> Group insurance discounts \u2014 Combine multiple insurance policies, such as car and home, and save money.<\/td><\/tr> New automobile \u2014 Save as much as 15% on vehicles that are three model years old or newer.<\/td> Good student discount \u2014 If your child keeps an A-average or higher, you will be eligible for a discount.<\/td><\/tr> Good motorist \u2014 If you go five years without filing an insurance claim, you might save up to 22%.<\/td> Bank account deductions \u2014 For each policy period without an accident or infraction, drop $50 from your comprehensive or collision deductible.<\/td><\/tr> Military \u2014 Receive up to 15% off for military and up to 25% for emergency deployment.<\/td> Accident forgiveness \u2014 When it comes to accidents, Progressive offers both a “small accident forgiveness” and a “large accident forgiveness” scheme.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Progressive vs Geico: Home Insurance<\/strong><\/span><\/h2>\n\n\n\n
Geico vs. Progressive: Home Insurance Features and Discounts<\/strong><\/span><\/h3>\n\n\n\n
Geico<\/td> Progressive<\/td><\/tr> Home security systems: Receive a discount if you have a home security system installed.<\/td> Flood insurance: separate optional coverage for homeowners who live in flood zones<\/td><\/tr> Flood insurance: Flood insurance is separate coverage and required if you live in a flood zone.<\/td> Smoke detectors or fire extinguishers \u2014 Save money on your policy if you have these in your home.<\/td><\/tr> Smoke detectors or fire extinguishers \u2014 Save money on your policy if you have these in your home.<\/td> Home warranty \u2014 Optional coverage that repairs or replaces home appliances.<\/td><\/tr> Bundling policies \u2014 Get a discount when you bundle your auto and homeowners insurance.<\/td> Safety and alarm discount \u2014 Receive a discount for burglar and fire alarms as well as safety features like automatic sprinklers, security systems, and cameras.<\/td><\/tr> <\/td> New home discount \u2014 Earn a home insurance discount if you’re purchasing a new home or switching from a current renters insurance policy. <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Progressive vs Geico Motorcycle Insurance<\/strong><\/span><\/h2>\n\n\n\n