Geico and Allstate are two of the most well known auto insurers in the country and the largest. Geico was founded in 1936 during the Great Depression but grew steadily. In 1996, Geico was acquired by Warren Buffet and is today a subsidiary of the Berkshire Hathaway Group. It is the second largest car insurance company in the country with 13.5% of the U.S. market in 2020. Geico still maintains its gritty competitive edge by offering an attractive array of discounts for every need.
Allstate was founded in 1931. Known for its innovation, Allstate initiated a new industry approach in 1936 by customizing auto insurance policies based on the age of the driver and the vehicle. Others followed suit. Today Allstate is the fourth largest private auto insurer in the United States with a market share of 9.11%. Allstate offers a wide array of excellent discounts.
Both providers have history and name recognition, but choosing between Allstate vs. Geico can seem challenging unless you know more details about them.
Geico vs. Allstate: Car insurance rates comparison
Both Geico and Allstate reflect their leading positions in the U.S. car insurance industry with strong overall financial ratings from AM Best. Each company also rates high in the J.D. Power score for customer satisfaction. Although Geico’s average annual premiums are lower than Allstate’s premiums, Allstate offers a wide array of policy options and discounts to help drivers obtain affordable coverage.
|Car insurance company||Bankrate Score||AM Best financial stability rating||J.D. Power customer satisfaction score||Average annual premium for minimum coverage||Average annual premium for full coverage|
Rates by credit score
Both companies consider credit scores in setting premiums, with Allstate imposing greater costs for poor credit. Auto insurers consider applicants who do not maintain good credit scores to present a higher risk of failing to make timely premium payments and being more likely to drive irresponsibly. There are certain states that prohibit or restrict the use of credit scores in writing auto insurance including California, Hawaii, Maryland and Massachusetts.
|Car insurance company||Poor||Average||Good||Excellent|
Rates by age
While both Geico and Allstate follow common insurer trends in considering age in determining premiums, Allstate clearly takes a stronger approach. Allstate’s annual premium for 18 year olds is almost $2,500 higher than Geico’s corresponding premium and far higher than Allstate premiums for other ages. Both companies’ premiums level off after drivers turn 30.
|Car insurance company||Age 16*||Age 18||Age 25||Age 30||Age 40||Age 60|
*16 year old cost when added to parents’ policy
Rates by driving record
Driving records are strong evidence that a driver presents a higher risk. Premiums charged by most insurers will increase as the number and severity of traffic violations increase for a given driver. Allstate annual premiums are more significantly influenced by serious violations such as a DUI conviction than are Geico’s premiums though both increase with a poor driving record.
|Car insurance company||Clean driving record||Speeding ticket||Accident||DUI conviction|
Geico vs Allstate: discounts
Geico offers wide discounts in many standard niches – equipment enhancements, driver history, driver education, customer loyalty and driver affiliations. Allstate offers similar discounts and, with several other carriers, a disappearing deductible, Deductible Rewards, which reduces an insurance deductible by a certain amount each year the driver goes without an accident.
- Equipment discounts: These are provided for eligible policyholders after the installation of safety equipment such as anti lock brakes as well as anti theft devices.
- Five-year accident-free good driver discount: This is a significant discount based upon a sustained clean driving record.
- Driver affiliation discounts: There are discounts available for drivers affiliated with the military, federal government employees and people who have affiliations with over five hundred companies.
- Administrative efficiency discounts: Discounts are typically available for bundling two or more Allstate policies, automatic premium payment arrangements and paperless billing.
- Smart student discounts: These are often available for unmarried drivers under 25 who get good grades, complete the Allstate teenSMART® driver education program and attend school at least 100 miles away from where the driver’s car is garaged.
- Safety and protection equipment: There are often discounts for anti lock brakes and anti theft devices.
Geico vs Allstate: Online and mobile experience comparison
Geico has one of the best user friendly websites in the industry. Geico’s Insurance Virtual Assistant is a robust self-improving resource for research and assistance with applications and claims. Allstate combines online capabilities with agent services to enhance customer experiences. The company offers an excellent tutorial on how to prepare to secure quotes.
Both companies offer useful mobile apps:
- Geico (Apple store – Score 4.8 of 5; Google – Score 4.5 of 5): This popular app allows policy holders to pay premiums, add vehicles, submit claims and otherwise manage all aspects of their car insurance policy.
- Allstate (Apple Store – Score 4.8 of 5; Google Play – Score 3.1 of 5): This app facilitates access to all policy information and Allstate resources and allows the user to make changes to a car insurance policy when necessary. This app also provides digital ID cards
Frequently asked questions
What is the best car insurance?
There are many excellent car insurance companies and policies. The best insurance for you may not be right for someone else. Research online the leading car insurance companies and obtain quotes from several to determine which policy best meets your needs.
Which car insurance company has the best discounts?
Every car insurance company has discounts and the companies reviewed here have a good selection of discounts. You can review discounts of several companies online to learn more and then determine what discounts apply to you.
How can I find the cheapest car insurance?
The best way to find the most affordable coverage that also meets all of your needs is to comparison shop. Select several affordable companies and obtain quotes from each. From this you will find the right affordable policy for you.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Credit: Rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base), and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. The following states do not allow credit to be a factor in determining auto insurance rates: CA, HI, MA
Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied.
Incident: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket, single DUI conviction and lapse in coverage.