GEICO vs Farmers

Round by round

1. Round 1RatesTie
   GEICO5/10

   $66 per month in California

   WalletHub reports this as GEICO’s average policy cost in California.

   • $66 per month in California
   • Cheaper across the listed driver categories

   Farmers5/10

   $135 per month in California

   WalletHub reports this as Farmers’ average policy cost in California.

   • $135 per month in California
   • High premiums are a reported drawback

   The premium gap can materially change a buyer’s annual budget.

2. Round 2DiscountsTie
   GEICO5/10

   17 listed discounts

   WalletHub’s comparison counts 17 discounts for GEICO.

   • 17 listed discounts
   • Telematics discount

   Farmers5/10

   23 listed discounts

   WalletHub’s comparison counts 23 discounts for Farmers.

   • 23 listed discounts
   • Hybrid-car discount

   Available savings can narrow the difference between quoted premiums.

3. Round 3Customer satisfactionTie
   GEICO5/10

   3.2/5 J.D. Power customer satisfaction rating

   GEICO scores slightly higher than Farmers’ 3.1/5 in the comparison.

   • 3.2/5 J.D. Power customer satisfaction rating
   • 4.4/5 WalletHub editor rating

   Farmers5/10

   3.1/5 J.D. Power customer satisfaction rating

   Farmers scores just below GEICO’s 3.2/5.

   • 3.1/5 J.D. Power customer satisfaction rating
   • 3.1/5 WalletHub user rating

   Ratings offer a signal about customers’ experiences beyond the price quote.

4. Round 4Claims and complaintsTie
   GEICO5/10

   0.81 NAIC Complaint Index

   GEICO’s index is above the 1.00 industry benchmark? No: it is below the benchmark, and lower than Farmers’ 0.71?

   • 0.81 NAIC Complaint Index
   • Claims-payment delays and settlement offers

   Farmers5/10

   0.71 NAIC Complaint Index

   Farmers’ index is lower than GEICO’s 0.81; the article notes both are below the 1.00 average.

   • 0.71 NAIC Complaint Index
   • Denials and customer service

   A low price matters less if the claims process is frustrating or complaints are common.

5. Round 5Availability and accessTie
   GEICO5/10

   Available in 50 states plus D.C.

   The comparison lists GEICO’s geographical coverage as 50 states + DC.

   • Available in 50 states plus D.C.
   • Few local agents in some areas

   Farmers5/10

   Available in 49 states plus D.C.

   The comparison lists Farmers’ geographical coverage as 49 states + DC.

   • Available in 49 states plus D.C.
   • Rideshare insurance

   Buyers need to know whether a company sells in their state and how easy it is to get local help.

6. Round 6Digital tools and serviceTie
   GEICO5/10

   Easy-to-use online tools and mobile app

   WalletHub lists these among GEICO’s pros.

   • Easy-to-use online tools and mobile app
   • Customer service available 24/7 by phone

   Farmers5/10

   Online claims filing

   WalletHub lists an online filing option among Farmers’ pros.

   • Online claims filing
   • Website described as not user-friendly

   Self-service and ways to reach help matter when managing a policy or starting a claim.

Side by side

GE

GEICO

Farmers

Check price

Overall score

6.2

6.2

Price

See price

See price

Size, reach and who you deal with

7.0

7.0

Being tracked for a discount

5.0

8.0

What happens when you claim

6.0

6.0

What you actually pay

8.0

5.0

Head-to-head findings

Size, reach and who you deal with

second-largest auto insurer by market share

major national insurer, agent-based

Being tracked for a discount

10% max

15% max

What happens when you claim

see note

no standout record

What you actually pay

$1,867

$3,207

Record

Head-to-head record

1–6–1

1–3–1

Head-to-heads won

14 %

25 %

Rounds won

13 %

16 %

Pros

• Rates vary widely by driver
• Figures from independent rate studies
• Advertised up to 10%
• Opt-in

• Rates vary widely by driver
• Figures from independent rate studies
• Cannot be used to raise your rate
• Opt-in

Cons

• About $334/yr more on average
• Bad driving can increase your premium
• Typical real saving is nearer 10%
• Not a leader on claims satisfaction

• About $1,177/yr more on average
• Advertised maximum is rarely reached
• Typical real saving is nearer 10%
• About $1,147/yr more on average

More auto insurers match-ups