GEICO vs. State Farm: Pros & Cons (2021)

GEICO and State Farm are the two largest auto insurance companies in the United States. A comparison of GEICO vs. State Farm ratings are fairly equal, with both companies earning an A++ from A.M. Best. GEICO provides cheaper rates for drivers with poor credit, but State Farm offers less expensive rates for drivers with a DUI. Many factors affect GEICO vs. State Farm auto insurance quotes, so your rates will vary.

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Rachel Bodine graduated from college with a BA in English. She has since worked as a Feature Writer in the insurance industry and gained a deep knowledge of state and countrywide insurance laws and rates. Her research and writing focus on helping readers understand their insurance coverage and how to find savings. Her expert advice on insurance has been featured on sites like PhotoEnforced, All...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insurance...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Jul 18, 2021

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What You Should Know

  • State Farm Insurance and GEICO Insurance are the top auto insurance companies in the United States
  • State Farm has a larger American market share, but GEICO has cheaper auto insurance on average
  • GEICO is more expensive for drivers who have a DUI on their driving record
  • State Farm is more expensive for drivers with poor credit

GEICO and State Farm may be the best companies in the auto insurance industry in 2021 based on their market share, premiums earned, and most of all – affordable auto insurance.

Our GEICO vs. State Farm comparison goes through the different factors that affect monthly rates, compares coverage options and discounts, and third-party ratings. Before the end of this review, you’ll know how to compare auto insurance quotes. You’ll also have more confidence when you make your final decision on which company is best for you.

Before you read more. about how GEICO and State Farm stack up, see how much you could save right now. Compare multiple companies in your local area by entering your ZIP code in the free comparison tool above.

GEICO vs. State Farm Auto Insurance: Which company is the cheapest?

GEICO and State Farm are two car insurance companies known for cost-efficient policies.

So why are these two companies considered the best? Check out the summary below to see how these two car insurance giants stack up.

GEICO vs. State Farm Summary
SummaryGEICO Auto Insurance StatsState Farm Auto Insurance Stats
Year Founded19361922
Headquarters5260 Western Avenue Chevy Chase, MD 20815One State Farm Plaza Bloomington, IL 61710
Phone Number1-800-207-78471-800-782-8332
Websitehttps://www.geico.com/https://www.statefarm.com/
Available in how many states?All StatesAll States
Direct Premiums$35.2 Billion$41.1 Billion
Market Share14%16%
National Average Auto Insurance Rate$268/month$272/month
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Both companies started before 1940 and provide car insurance in all 50 states. However, State Farm has a larger market share and earns more per year.

Do you want to know about GEICO and State Farm? Check out our GEICO Auto Insurance Review or State Farm Auto Insurance Review for more information.

To find out which company is less expensive considering various factors, continue reading to learn more.

Which is cheapest by location?

Did you know your car insurance premium is affected by the state where you live? Different areas around the United States come with various risk factors that play into the cost of premiums. Maybe you live in an urban area where the chances of filing a claim are higher than average.

Wherever you live, auto insurance companies estimate your car insurance rate based on your state. Let’s compare GEICO vs. State Farm auto insurance rates based on the state. Type in your state in the upper right-hand corner to find your state’s average monthly rate.

GEICO vs. State Farm Auto Insurance Rates by State
StatesGEICO Monthly Auto Insurance RatesState Farm Monthly Auto Insurance Rates
Alaska$240$186
Alabama$239$400
Arkansas$290$232
Arizona$189$396
California$240$350
Colorado$258$273
Connecticut$256$248
District of Columbia$308$340
Delaware$311$372
Florida$315$283
Georgia$248$282
Hawaii$280$87
Iowa$191$185
Idaho$231$156
Illinois$232$195
Indiana$188$201
Kansas$268$227
Kentucky$386$280
Louisiana$513$382
Maine$235$183
Maryland$319$330
Massachusetts$126$113
Michigan$536$1,047
Minnesota$292$172
Missouri$240$224
Mississippi$341$248
Montana$300$201
North Carolina$245$257
North Dakota$222$213
Nebraska$320$203
New Hampshire$135$182
New Jersey$230$627
New Mexico$372$195
Nevada$305$483
New York$202$374
Ohio$156$209
Oklahoma$286$235
Oregon$268$228
Pennsylvania$217$229
Rhode Island$467$201
South Carolina$265$256
South Dakota$245$192
Tennessee$274$220
Texas$272$240
Utah$247$387
Virginia$172$189
Vermont$183$365
Washington$214$208
West Virginia$177$177
Wisconsin$327$199
Wyoming$291$192
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On average, GEICO auto insurance rates are $268 per month, but State Farm auto insurance rates cost $272 per month. The least expensive state for State Farm car insurance is Hawaii, but the most affordable state for GEICO is Massachusetts.

Which is cheapest by driving record?

Your driving record has a significant impact on your auto insurance policy. Drivers with clean driving records won’t pay nearly as much as someone who has traffic violations, accidents, and DUIs on their record.

Take a look at GEICO vs State Farm auto insurance quotes based on driving record.

GEICO vs. State Farm Auto Insurance Rates by Driving Records
Driving Record SummaryGEICO Monthly Auto Insurance RatesState Farm Monthly Auto Insurance Rates
Clean Driving Record$179$235
With One Speeding Violation$220$266
With One Accident$266$283
With One DUI$406$303
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GEICO car insurance cost is cheaper until you compare driving records with one DUI. Overall, State Farm is $103 less expensive for drivers with DUIs.

Which is cheapest by credit score?

According to Experian, car insurance companies correlate credit score to risk. In other words, the better your credit score – the lower chance you’ll have of filing a claim.

What about drivers with fair credit or poor credit? Check out the car insurance rates below to determine GEICO and State Farm calculate auto insurance rates based on credit.

GEICO vs. State Farm Auto Insurance Rates by Credit Scores
Credit Score SummaryGEICO Monthly Auto Insurance RatesState Farm Monthly Auto Insurance Rates
Good Credit (670-739)$203$181
Fair Credit Score (580-669)$249$238
Poor Credit Score (300-579)$355$413
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State Farm car insurance premiums are more economical. However, GEICO quotes are more affordable for drivers with poor credit scores.

Which is cheapest by age?

Age is another factor that provides insight into risk. Why? Auto insurance companies can determine risk based on age because it correlates to the driving experience.

Teen and young adult drivers take more risks in addition to less driving experience. To prepare for higher chances of filing a claim, car insurance companies issue non-standard car insurance rates.

Let’s find out whether GEICO and State Farm charge higher premiums based on age.

GEICO vs. State Farm Auto Insurance Rates by Age
Age of DriversGEICO Monthly Auto Insurance RatesState Farm Monthly Auto Insurance Rates
60-Year-Old Driver$189$156
35-Year-Old Driver$192$173
25-Year-Old Driver$193$204
17-Year-Old Driver$497$553
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State Farm auto insurance rates are more affordable for drivers age 35 and older. However, younger drivers aged 25 and younger can get competitive car insurance rates from GEICO.

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GEICO vs. State Farm Auto Insurance Coverages

Before you buy GEICO or State Farm auto insurance, go through each company’s coverage options. It’s safer to know what’s available, so you know what you’re buying.

Check out the coverage options below to determine which company has more auto coverage perks.

Comparing GEICO and State Farm Auto Insurance Coverages
GEICO Auto Insurance CoveragesState Farm Auto Insurance Coverages
Bodily Injury LiabilityBodily Injury Liability
Property Damage LiabilityProperty Damage Liability
Medical Payments coverageMedical Payments coverage
Uninsured & Underinsured Motorist coverageCollision Coverage
CollisionComprehensive Coverage
ComprehensiveUninsured & Underinsured Motorist Coverage
Emergency Roadside AssistancePersonal Injury Protection
Mechanical Breakdown InsuranceGAP Coverage
Rental Car ReimbursementRental Car Reimbursement
Roadside Assistance
Accident Forgiveness
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State Farm has more coverage options, but it doesn’t have mechanical breakdown insurance like GEICO. These coverage options aren’t available automatically. You’ll need to add them before you buy a policy, or you can add them as you go along.

How do you do that? Contact State Farm or GEICO customer service and ask if you can add additional coverage to your policy. Or you can create a GEICO login or State Farm login to manage your policy and potentially add more service.

GEICO vs. State Farm Auto Insurance: Which has more discounts?

GEICO and State Farm car insurance are more economical than most companies, but you can lower car insurance costs even more with discounts. When you stack those deals, you can save hundreds of dollars per month.

So who provides more bang for your buck? Compare GEICO vs. State Farm auto insurance discounts below to see who offers more bargains on auto insurance.

Comparing GEICO and State Farm Auto Insurance Discounts
Auto Insurance DiscountsGEICO AvailabilityState Farm Availability
Adaptive Cruise Control
Adaptive Headlights
Anti-lock Brakes
Anti-Theft
Daytime Running Lights
Electronic Stability Control
Utility Vehicle
Vehicle Recovery
VIN Etching
Lane Departure Warning
Newer Vehicle
Green Vehicle
Forward Collision Warning
Claim Free
Continuous Coverage
Defensive Driver
Distant Student
Driver's Ed
Driving Device/App
Early Signing
Emergency Deployment
Engaged Couple
Family Legacy
Family Plan
Farm Vehicle
Fast 5
Federal Employee
Full Payment
Further Education
Garaging/Storing
Good Credit
Good Student
Homeowner
Life Insurance
Low Mileage
Loyalty
Married
Membership/Group
Military
Military Garaging
Multiple Drivers
Multiple Policies
Multiple Vehicles
New Address
New Customer/New Plan
New Graduate
Newly Licensed
Newlyweds
Non-Smoker/Non-Drinker
Occasional Operator
Occupation
On-Time Payments
Online Shopper
Paperless Documents
Paperless/Auto Billing
Passive Restraint
Recent Retirees
Renter
Roadside Assistance
Safe Driver
Seat Belt Use
Senior Driver
Stable Residence
Students & Alumni
Switching Provider
Volunteer
Young Driver
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GEICO has more discounts than State Farm. Each company will issue discounts based on your vehicle and circumstances. For example, you can’t get an Anti-theft discount if your car doesn’t have a security system.

GEICO vs. State Farm: Which company has the better financial strength and customer satisfaction ratings?

If you’re big on ratings, start with the most reliable rating agencies. To make it more convenient, we included the best rating agencies and how they judged GEICO and State Farm. Check out the ratings below.

GEICO vs. State Farm Auto Insurance Financial Strength and Credit Ratings
AgenciesGEICO RatingsState Farm Ratings
AM BestA++A++
Moody'sAa3Aa1
S&PAA+AA
NAIC Complaint Index1.140.98
J.D. Power - Power Circle RatingsAbout AverageBetter Than Most
Apple App Store (iOS) Ratings5 stars3 stars
Google Play Store (Android) Ratings5 stars4 stars
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AM Best, Moody’s, and S&P are financial strength rating agencies that measure a company’s ability to earn and manage money. GEICO and State Farm have the same AM Best rating, which means both companies have stable financial outlooks with low credit risks.

However, State Farm has a better Moody’s rating, and GEICO has a better S&P rating.

NAIC Complaint Index and J.D. Power’s circle ratings are customer satisfaction scores. Since the average complaint ratio is one, State Farm has managed to keep its complaints under the average, but GEICO appears to have struggled a little more.

Finally, GEICO outperforms State Farm when it comes to mobile apps on iOS and Android app stores.

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GEICO vs. State Farm Auto Insurance: The Bottom Line

So which company is better? It’s hard to tell. Both companies provide low rates, plenty of discounts, and show great promise through third-party ratings. Ultimately, it all depends on your needs. Revisit some of the sections above – you may establish some pros and cons that can help influence your next step.

While you’re deciding whether you prefer Jake from State Farm or the GEICO gecko, see how much you could save right now just by shopping around. Enter your ZIP code in the free online quote tool below.

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