Difference Between AllState and Geico Car Insurance (With Table)

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.

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 usually 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 Between Allstate and Geico

Parameters of Comparison Allstate Geico 
SettledAllstate 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 optionsPersonal 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 capabilitiesAllstate 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 itself with the help of large network agents who further serve insurance coverage to the people all 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 discount, driver bonus, 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 a 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 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 which is another agency that deals with providing 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 bonus, multiple policies, military, student, and senior citizen coverage discounts. 

Geico offers the following auto insurances 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 in the U.S auto insurers and 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 

  1. Allstate car insurance policy offers usage-based coverage options whereas Geico car insurance policy does not currently offer usage-based/Telematics coverage options. 
  2. 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. 
  3. 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. 
  4. 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. 
  5. Allstate provides online services via a mobile app with features like agency access, roadside assistance, quick foto claim, 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. 

Conclusion

Allstate and Geico are the two most popular car insurance provider companies in the United States. Both have different coverage options, benefits, costs, and online services. 

Allstate is most popular for its wide range of coverage options for all drives with all age groups and has superior claim services, while Geico has better affordability with many discounts and wonderful online services. 

Reference

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3558165

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