Car insurance is mandatory for drivers in almost all the states in the world. If an individual does not have car insurance, he/she is liable to pay all the penalties caused by them.
Hence, car insurance is recommended beforehand. The two very famous car insurance companies are Geico and Allstate.
Key Takeaways
- Allstate provides a range of coverage options such as liability, collision, comprehensive, and personal injury protection. At the same time, GEICO offers similar coverage with additional options such as mechanical breakdown insurance and emergency roadside assistance.
- Allstate has a network of agents who provide personalized service and customer support, while GEICO operates primarily online and offers 24/7 customer service through its website and mobile app.
- Allstate offers various discounts for safe driving, multiple policies, and good grades, while GEICO offers discounts for military service, federal employment, and membership in certain organizations.
Allstate Vs Geico Car Insurance
The difference between Allstate and Geico is that Allstate insurances are a face-to-face contact insurance company founded in 1932, whereas Geico is an online insurance company founded in 1936. Both these companies offer car insurance, but the coverage options vary in them.
According to the reports of the National Association of Insurance Companies(NAIC), Allstate is the fourth-largest insurance company in the United States, having strong A+financial ratings from BBB and a superior financial strength rating from AM Best.
This company works with 12,000 agents to provide insurance coverage in all 50 states of America.
According to the National Association of Insurance Companies(NAIC), Geico is the second-largest insurance company in the United States. Geico also has A++ financial ratings from AM Best and superior from BBB.
Geico has affordable coverage policies for Military, corporate, and federal employees. Geico car insurances are cheaper than Allstate on average. Geico car insurance is available in all 50 states.
Comparison Table
| Parameters of Comparison | Allstate | Geico |
|---|---|---|
| Settled | Allstate insurance company was founded in 1931. Now headquartered in Northbrook, Illinois, USA. | Geico Corporation was established in 1936. Its headquarter is in Washington DC. |
| Financial Strength ratings as per (AM Best & BBB) | Allstate has got (A+) AM best ratings and (A-) BBB ratings. Thus, overall financial and customer ratings are low. | Geico has (A++) AM Best ratings and (B+) BBB ratings. Hence, the overall financial rating and customer satisfaction ratings are high. |
| Coverage options | Personal injury protection(PIP), Medical coverage, motorist coverage, Personal liability, Theft restoration, Property, Scheduled coverage. | Personal injury protection(PIP), roadside assistance coverage, Personal liability, Theft restoration, and replacement cost in case of property valuation. |
| Online capabilities | Allstate app does not provide great online services. Allstate’s app has got customer rating of 2.4 out of 5. However, QuickFoto and Drivewise are their most popular features. | Geico app is the highest-rated app and has got many customer ratings of 4.8 out of 5. Through the online portal, you can have access to your coverage, pay bills, etc. |
| Pricing | Allstate car insurance prices are very high. But, not for drivers with DUI. | Geico car insurance prices are less. Therefore, are affordable and convenient for drivers of age 18 to 70. |
What is Allstate Car Insurance?
Allstate is the name of an Insurance providing company commonly called “Allstate Corporation”. This company was established in 1931, headquartered in Northbrook, Illinois.
This company operates with the help of large network agents who further serve insurance coverage to people around 50 states of America.
Allstate is among the top 5 insurance companies in the USA that offer clients affordable coverages and plenty of discount schemes while buying car insurance, such as multiple policies, lump-sum pay discounts, driver bonuses, accident forgiveness, etc.
Allstate mainly offers the following personal auto insurance coverage:-
Liability coverage(bodily injury, property damage, collision coverage, and comprehensive coverage); Medical coverage(underinsured and uninsured motorist coverage, PIP); Personal umbrella policy; Roadside coverage; rental reimbursement coverage and special sound system insurance.
Allstate car insurance is available in every state in the nation, even in the District of Columbia. Allstate agents are available in every state, so it is convenient for people to buy car insurance in any state in the USA.
Allstate’s website and mobile app have powerful built-in tools to make it easier for users to keep up with every information related to their current car insurance policies, such as bill payment, claims status, paperwork, and other tasks.
What is Geico Car Insurance?
Geico is an auto insurance company founded in 1936. The headquarter’s located in Chevy Chase, Maryland, USA.
Geico is a subsidiary of Berkshire Hathaway, another agency that provides coverage for motor vehicles. The full form for GEICO is Government Employees Insurance Company.
Geico is rated as the second-best and largest insurance agency in the United States and has the highest financial strength ratings as well. Geico serves in all 50 states and also the District of Columbia.
Geico works best with any driver as they offer great discounts on insurance premiums, such as good driver bonuses, multiple policies, and military, student, and senior citizen coverage discounts.
Geico offers the following auto insurance for their customers:-
Liability coverages(Bodily injury, property damage), Medical coverages(Medical payments, PIP); Uninsured motorist coverages, vehicle coverage(Collision, Comprehensive); Emergency road service; rental reimbursement; Mechanical Breakdown Insurance(MBI) and special rideshare insurance.
Geico car insurance is available in all 50 states. Although coverage discounts, options might vary based on the city or state of the individual. Their premium rideshare insurance is not valid in many states, such as Alaska, Utah, or Texas.
GEICO’s app has earned the highest ranking among the U.S. auto insurers, and on top of that, they have the highest number of happy customers in the state due to their affordability and great customer service.
Main Differences Between Allstate and Geico
- Allstate car insurance policy offers usage-based coverage options, whereas Geico car insurance policy does not currently offer usage-based/Telematics coverage options.
- Allstate car insurance has multiple coverage choices, but the discounts they provide are not very amusing, whereas Geico has lesser coverage options, but the discounts are plenty.
- Allstate provides 3 types of roadside service to buyers even without an Allstate insurance plan while Geico offers roadside service via their mobile app that will assist 24 x 7 in case of emergency.
- Allstate car insurance plans an expensive due to their excellent financial strength ratings, whereas Geico offers inexpensive insurance plans with great discount deals and yearly benefits.
- Allstate provides online services via a mobile app with features like agency access, roadside assistance, quick photo claim, and a digital locker. Allstate has 2.8 ratings out of 5, whereas Geico has 4.8 ratings out of 5 for their online app with features like voice assistance, find a ride, locators, and vehicle care.
Reference
Last Updated : 13 July, 2023
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Chara Yadav holds MBA in Finance. Her goal is to simplify finance-related topics. She has worked in finance for about 25 years. She has held multiple finance and banking classes for business schools and communities. Read more at her bio page.
The information reveals that the availability of customer service and the online capabilities of the companies are very important factors to consider when comparing insurance policies.
This informative article provides a detailed overview of the differences between Allstate and Geico, offering insights that are valuable for individuals looking to purchase car insurance.
It’s interesting how both companies have managed to develop a different approach to customer service. Geico has made online interaction its strength, while Allstate focuses on personalized service through agents.
I appreciate the clear presentation of facts regarding the financial strength and ratings of both companies. It’s an important aspect to consider when determining the reliability of an insurance provider.
The comparison table is useful to have a clear overview of the main differences between Allstate and Geico. This makes it easier to make an informed decision when choosing the best car insurance.
The comparison of Allstate and Geico car insurance helps to highlight the strengths and weaknesses of each company, making it easier for consumers to determine which provider aligns with their specific needs and preferences.
Geico’s plans are perfect for people with diverse needs and provide affordable rates. But, if you prefer a face-to-face contact, Allstate could be the best choice for you.
Both Allstate and Geico offer a comprehensive range of coverage options, and this article highlights the specific areas in which they differ. These details are essential for those seeking good car insurance coverage.
It’s clear that both Allstate and Geico have their advantages when it comes to car insurance, with different coverage options and benefits tailored to potential clients’ needs.
Geico’s high customer satisfaction and the superior online portal make it a strong competitor in the car insurance industry. These factors could greatly influence the decision-making process for potential customers.