Geico Homeowners Insurance vs USAA: Difference and Comparison

Geico or USAA is a type of insurance that is a complete guarantee of receiving security with home insurance, structural damage, property loss, and other liability claims.

They have their own rules, which are necessary to understand. Insurance companies cover medical payments from housing, individual property, etc. Both are different, but both are related to insurance.

Key Takeaways

  1. Geico offers insurance policies to the general public, while USAA primarily offers insurance to military personnel and their families.
  2. Geico offers discounts for multiple policies and has a more extensive coverage area, while USAA offers more comprehensive coverage options and exceptional customer service.
  3. Geico offers a wider range of insurance products, such as pet, jewellery, and identity theft insurance. In contrast, USAA offers life, health, and long-term care insurance in addition to its other offerings.

Geico Homeowners Insurance vs USAA

GEICO Homeowners Insurance is a type of insurance policy offered by the Government Employees Insurance Company (GEICO), a well-known insurance provider in the United States. USAA (United Services Automobile Association) is a financial services company that provides a range of insurance products.

Geico Homeowners Insurance vs USAA

Geico is a popular insurance company in America, under which all types of insurance come. This is the fourth insurance company’s most famous company.

This insurance company is in the middle of the millennium. Along with this, the fifth place in Baby Boomers and its sixth place in X-Ears. GEICO is entirely accurate for the home insurance industry. 

United Services Automobile Association (USA) is a group that is located in San Antonio, and there are groups of 500 diverse financial services under it.

This group has been associated with various insurance companies, such as family insurance, investment, and assistant insurance companies. Its members were up to 12.4 million by the end of 2017.

Comparison Table

Parameters of comparison Geico Homeowners InsuranceUSAA
Best ForGeico is best for non-military.USAA is the perfect fit for the military and their families.
Eligibility    There are no restriction criteria in Geico.USAA is only applicable for the military and their family. 
Market shareThe market share is approx. 14% in Geico.In USAA, the market share is approx. 6%.
Monthly price The monthly price of Geico is $116.The monthly price of USAA is $151.
JD Power rankingsThe ranking of Geico is average.The power ranking of USAA is excellent. 

What is Geico Homeowners Insurance?

Geico is a popular insurance company in America, under which all types of insurance come. This is the fourth insurance company’s most famous company. This insurance company is in the middle of the millennium.

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Along with this, the fifth place in Baby Boomers and its sixth place in X-Ears. GEICO is entirely accurate for the home insurance industry.

To understand this insurance company internally, we should know deeply about it so that we can know whether it is right for us or not.

Many features of this insurance company make it special. All its coverage occurs at the national level. It participates in affiliated and non-affiliated insurance. Apart from this, it is an intuitive digital platform.

This digital resource gives full support to the website and the app. Many discounts are given on Geico insurance. This is cheap and comprehensive insurance coverage under which homeowners come insurance, car insurance, and other insurance. 

Along with this, there are a lot of discounts on car insurance. Apart from its characteristics, some things expose its shortage. According to its review and experienced customers, its complaint index is high.

The annual study of US Banks has estimated that the average cost of this insurance is $ 1,312 per year. Along with this, depending on the pricing requirements, that means it may vary.

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What is USAA?

United Services Automobile Association (USA) is a group that is located in San Antonio, and there are groups of 500 diverse financial services under it.

This group has been associated with various insurance companies, such as family insurance, investment, and assistant insurance companies. Its members were up to 12.4 million by the end of 2017.

The USAA Group emerged in San Antonio in 1922 and was started by 25 US Army soldiers. Initially, it emerged as a self-insurance, which included a high-risk group.

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The USAA provided banking services to the Army Officers and the past and present members of their families; this is how they started this company.

Individual property and accident (P & C) insurance, automobile insurance, landlord-related insurance, etc., are included in USAA. Apart from this, the USAA also provides policies of term life insurance and annuity, etc.

Federal Savings Bank provides USAA’s banking service. This bank was established on 30 December 1983.

According to USAA’s Annual Membership Report, more than 6.3 million accounts were opened, and total deposits exceeded $62.549 billion. USAA Bank, located in San Antonio, has all its savings in the bank lobby, the only full-service banking location.

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Main Differences Between Geico Homeowners Insurance and USAA

Geico and USAA both are auto insurance companies, and they are different from each other in several ways. The distinguishing factor between Geico and USAA relations can be summed up on the following grounds:

  1. Geico is best for non-military, while USAA perfectly fits the military and their families.
  2. There are no restriction criteria in Geico, whereas USAA is only applicable to the military and their family.
  3. The market share is approx. 14% in Geico, while In USAA, the market share is approx. 6%.
  4. The monthly price of Geico is $116, whereas the monthly price of USAA is $151.
  5. The JD Power ranking of Geico is average, while the power ranking of USAA is excellent.
References
  1. https://www.jstor.org/stable/252334
  2. https://www.emerald.com/insight/content/doi/10.1108/case.darden.2016.000241/full/html
  3. https://search.proquest.com/openview/acfcf1278784d9c70f814814c18cbc38/1?pq-origsite=gscholar&cbl=1821485

Last Updated : 13 July, 2023

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11 thoughts on “Geico Homeowners Insurance vs USAA: Difference and Comparison”

  1. This post was very helpful for someone like me who is looking to understand the differences between Geico and USAA.

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