State Farm vs. GEICO

GEICO is the better provider for low rates and discounts

We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money.

State Farm and Berkshire Hathaway-owned GEICO are the largest and second-largest insurance companies in the country, respectively. These two providers offer more than a dozen types of insurance, including personal policies and business policies. State Farm and GEICO have many decades of industry experience and are among the most popular insurance companies on the market. 

To see which company is better, we compared State Farm and GEICO based on factors like policy offerings, discounts, and customer service. Overall, we found that GEICO has cheaper premiums and more discounts, but State Farm has more comprehensive commercial insurance offerings. State Farm also has a wider network of agents than GEICO.

State Farm


State Farm

State Farm

Pros
  • Network of more than 19,000 agents around the country

  • Long list of commercial insurance policies

  • Good variety of online resources for first-time insurance buyers

Cons
  • No military discounts for car insurance

  • Coverage can be expensive, depending on the type and amount of coverage needed

  • Some coverage options and discounts are only available in select states

GEICO


GEICO

GEICO

Pros
  • Impressive car insurance discounts

  • Very affordable coverage for most consumers

  • Policyholders can access live chat for real-time support

Cons
  • Coverage options tend to be very limited

  • Customer reviews indicate poor claim handling

  • Only has 17 offices around the country

State Farm vs. GEICO: Auto Insurance

At-a-Glance

  State Farm GEICO 
Geographic availability Nationwide Nationwide 
Discount opportunities  13 19 
Customer service  Phone, online, in-person Phone, chat, online, email, in-person
Claims processing  Phone, online, mobile app Phone, online, mobile app
NAIC complaint score  4.80 (above average) 1.70 (above average)
AM Best rating  A++ A++ 

Coverage

GEICO and State Farm both offer minimum and full coverage car insurance policies. However, the exact amount of coverage you can buy will depend on where you live.

  State Farm GEICO
Personal liability insurance Yes, amount varies Yes, amount varies
Collision insurance  Yes, amount varies  Yes, amount varies 
Comprehensive insurance  Yes, amount varies  Yes, amount varies 
Medical payments insurance  Yes, amount varies  Yes, amount varies 
Uninsured motorist insurance  Yes, amount varies  Yes, amount varies 
Underinsured motorist insurance  Yes, amount varies  Yes, amount varies 

Riders 

Riders are optional coverages that you can add to your car insurance policy for additional protection in specific areas. Based on our research, neither company offers many riders—both offer four endorsements, which is fewer than many of their competitors.

  State Farm GEICO 
Rental car reimbursement  Yes Yes
Rideshare insurance  Yes  No
Roadside assistance Yes  Yes 
Accident forgiveness  Yes  Yes 
Mechanical breakdown insurance  No Yes

Rates and Discounts 

Auto insurance rates are personalized for every driver, and discounts can help you get a lower rate. GEICO and State Farm both stand out for their impressive car insurance discounts, but GEICO offers a few more discounts than State Farm. It also has savings for military personnel, federal employees, and employer/membership affinity groups.

  State Farm GEICO 
Smart student Yes Yes
Distant student  Yes  No
Multi-vehicle  Yes  Yes 
Multi-policy  Yes  Yes 
Air bag  Yes Yes 
Anti-lock brakes No  Yes
Alarm system  Yes  Yes 
Daytime running lights  No  Yes 
Seat belt usage  No  Yes 
Defensive driving course  Yes  Yes 
Driver’s education course  Yes  Yes 
Emergency deployment  No Yes 
Military  No Yes 
Federal employee  No Yes 
Affinity group  No Yes 
Safe driver reward program  Yes  Yes 
Pay in full Yes  Yes
Automatic payments  Yes  Yes 
Claim-free  Yes  Yes 
New vehicle  Yes  Yes 

State Farm vs. GEICO: Home Insurance

At-a-Glance

  State Farm GEICO 
Geographic availability Nationwide Nationwide 
Discount opportunities 5 4
Customer service  Phone, online, in-person Phone, chat, online, email, in-person
Claims processing  Phone, online, mobile app Phone, online, mobile app
NAIC complaint score  4.80 (above average) 1.70 (above average)
AM Best rating  A++ A++ 

Coverage

You can get a standard homeowners insurance policy from GEICO or State Farm, but the amount of coverage varies depending on where you live, the size and age of your home, and other unique factors.

  State Farm GEICO
Dwelling insurance Yes, amount varies Yes, amount varies
Other structures coverage  Yes, amount varies  Yes, amount varies 
Personal property insurance  Yes, amount varies  Yes, amount varies 
Personal liability insurance  Yes, amount varies  Yes, amount varies 
Medical payments coverage  Yes, amount varies  Yes, amount varies 
Loss of use insurance  Yes, amount varies  Yes, amount varies 

Riders 

State Farm and GEICO offer limited home insurance riders, so neither company is a great option if you’re looking to customize a policy with add-ons. We’ve included the available riders from both companies in the table below.

  State Farm GEICO 
Inflation guard Yes No
Personal umbrella insurance  Yes  Yes
Flood insurance Yes  Yes 

Rates & Discounts 

Every homeowner pays a different rate for insurance based on unique circumstances, like their zip code, credit score, and claim history. However, you can save money by taking advantage of discounts. We found that State Farm has better homeowners insurance discounts than GEICO, which are listed below.

  State Farm GEICO
Multi-policy  Yes Yes
Security system  Yes  Yes 
Impact-resistant roof Yes  No
Fire alarm  Yes  Yes 
Pay in full  Yes  Yes 

State Farm vs. GEICO: Renters Insurance

At-a-Glance

  State Farm GEICO 
Geographic availability Nationwide Nationwide 
Discount opportunities 2 4
Customer service  Phone, online, in-person Phone, chat, online, email, in-person
Claims processing  Phone, online, mobile app Phone, online, mobile app
NAIC complaint score  4.80 (above average) 1.70 (above average)
AM Best rating  A++ A++ 

Coverage

Standard renters insurance policies come with four types of coverage, which are sold by State Farm and GEICO. To find out how much coverage you can purchase, we recommend getting a personalized rate quote online.

  State Farm GEICO
Personal property insurance Yes, amount varies Yes, amount varies
Personal liability insurance  Yes, amount varies  Yes, amount varies 
Medical payments insurance  Yes, amount varies  Yes, amount varies 
Loss of use insurance  Yes, amount varies  Yes, amount varies 

Riders 

When it comes to renters insurance riders, State Farm is the clear winner. State Farm offers six riders, and GEICO only offers two. If you’re looking to personalize your policy and fill gaps in your coverage, we recommend going with State Farm.

  State Farm GEICO 
Flood insurance Yes Yes
Personal liability umbrella insurance  Yes  Yes 
Earthquake insurance  Yes  No
Business property insurance  Yes No 
Incidental business liability insurance  Yes  No 
Identity restoration coverage  Yes  No

Rates & Discounts 

Renters insurance is usually inexpensive, but your rate will depend on things like your city and state, age, and claim history. State Farm and GEICO both offer a handful of discounts that can help you get a lower renters insurance premium.

  State Farm GEICO 
Multi-policy Yes Yes
Security system  Yes  Yes 
Fire alarm  No Yes 
Pay in full  Yes Yes 

State Farm vs. GEICO: Commercial Insurance

At-a-Glance

  State Farm GEICO 
Geographic availability Nationwide Nationwide 
Discount opportunities 0 0
Customer service  Phone, online, in-person Phone, chat, online, email, in-person
Claims processing  Phone, online, mobile app Phone, online, mobile app
NAIC complaint score  4.80 (above average) 1.70 (above average)
AM Best rating  A++ A++ 

Coverage

If you’re a small business owner, State Farm is one of the best insurance companies for commercial insurance. The company offers more than 15 different business insurance products, which is significantly more than GEICO sells. However, GEICO sells malpractice insurance, so it may be a better option if you work in the health care field.

  State Farm GEICO 
Commercial auto insurance  Yes, amount varies Yes, amount varies
Commercial property insurance  Yes, amount varies  No
Medical malpractice insurance  No Yes, amount varies 
Commercial liability umbrella insurance  Yes, amount varies  No
Business owners policy (BOP)  Yes, amount varies  Yes, amount varies 
Workers’ compensation  Yes, amount varies  Yes, amount varies 
Surety and fidelity bonds  Yes, amount varies  No
Builder’s risk insurance  Yes, amount varies  No
General liability insurance  Yes, amount varies  Yes, amount varies 
Professional liability insurance  Yes, amount varies  Yes, amount varies 
Cyber liability insurance  No Yes, amount varies 
Employment practices liability insurance  Yes, amount varies  No
Employers non-owned car liability insurance  Yes, amount varies  No
Farm and ranch insurance  Yes, amount varies  No
Key employee insurance  Yes, amount varies  No
Employee health insurance  Yes, amount varies  No
Employee life insurance  Yes, amount varies  No
Employee disability insurance  Yes, amount varies  No

Riders 

State Farm and GEICO don’t mention any business insurance riders on their websites. If you’re looking for a specific type of coverage, we recommend reaching out to a GEICO or State Farm agent to see if the endorsement is available in your state.

Rates & Discounts 

The cost of business insurance is based on the industry you're in, the number of employees you have, the risk your employees face on the job, and more. Neither State Farm nor GEICO advertise any business insurance discounts online, but you might be able to get a multi-policy discount if you purchase two or more business insurance policies from the same company. 

State Farm vs. GEICO: Other Insurance Products

State Farm and GEICO offer lots of insurance products besides auto, home, renters, and commercial coverage. Most of State Farm's and GEICO’s policies, with the exception of pet insurance and a few others, are underwritten in-house. The table below includes a full list of the other insurance products available from State Farm and GEICO.

  State Farm GEICO 
Motorcycle insurance Yes Yes
Boat insurance  Yes  Yes 
Classic car insurance Yes  Yes
RV insurance  Yes  Yes 
Mexico auto insurance  No  Yes 
Off-road vehicle insurance  Yes  Yes 
Condo insurance  Yes  Yes 
Landlord insurance Yes  Yes
Personal articles insurance  Yes  Yes 
Manufactured home insurance  Yes  Yes 
Farm and ranch insurance  Yes  No
Identity theft insurance  Yes  Yes 
Individual life insurance  Yes  Yes 
Individual health insurance  Yes  No
Pet medical insurance  Yes  Yes 
Umbrella insurance  Yes  Yes 
Travel insurance  No Yes 
Overseas insurance  No Yes 
Individual disability insurance  Yes  No
Flood insurance  Yes  Yes 

State Farm vs. GEICO: Customer Service

When it comes to customer service, GEICO and State Farm have similar options. You can get in touch with an agent via phone during business hours, by visiting a local office, or through the online customer portal. GEICO also offers email assistance options, as well as live chat and 24/7 phone support for current policyholders. 

However, keep in mind that certain types of service don’t apply to every insurance product. For example, State Farm and GEICO only use phone support for commercial insurance. If you have auto or property insurance, both companies make it easy to get in touch online or through the app.

When choosing between State Farm and GEICO, it’s also important to understand the differences in their business models. If you purchase a policy from State Farm, you’ll be assigned a personal agent who will handle all your insurance needs. With GEICO, you don’t get matched with an agent, so you have to rely on the call center if you need assistance.

If you value insurance companies with good customer service, State Farm is probably your best option. You’ll get more personalized attention, and probably have better agent interactions.

State Farm vs. GEICO: Claims

GEICO and State Farm have easy claims processes. For auto, home, or renters insurance, you can file a claim online, over the phone, or through the mobile app. You’ll be asked to provide your policy number, then provide a description of the event and share photos of the damage. Then, you will be assigned an adjuster who will oversee your claim. If you have any policy besides the those mentioned above, you’ll have to call an agent to start the claim process.

State Farm vs. GEICO: Customer Satisfaction

Customer satisfaction is extremely important to consider when choosing an insurance company. To gauge the overall customer satisfaction for GEICO and State Farm, we read online reviews from current and past policyholders.

For GEICO, customers were generally happy with the company’s low rates, good discounts, and mobile app experience. However, a significant number of consumers complained about GEICO’s flawed claims handling process, with denied claims, lower-than-expected payouts, and unfriendly agents being recurring issues.

State Farm’s customer reviews also indicate slow claims handling, payout issues, and pricey premiums. On the other hand, we saw many reviews praising State Farm’s customer service agents, easy policy management, and good communication with claim adjusters. 

State Farm vs. GEICO: Getting a Quote

Getting a quote from State Farm or GEICO is simple, and both companies have online quotes if you prefer to not call an agent. For most policies, the process only takes a few minutes. You’ll be asked to share some personal details, and provide other information used to determine your policy premium. If you’re satisfied with the quote, you can purchase most policies online. 

Methodology

To compare GEICO and State Farm, we focused on four popular policies—auto, home, renters, and commercial insurance. We evaluated each product based on the policies offered, rates, discounts available, and riders. We also considered each company’s area of availability, AM Best score, and NAIC Company Complaint Index rating. The NAIC index tells you the ratio of complaints compared to the market share of the company–ratios below 1.0 show a company that has fewer complaints than expected for its size. Finally, we compared GEICO and State Farm based on their customer service options, claim and quote processes, and customer satisfaction reviews.

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. NAIC. "Property and Casualty Insurance Industry 2020 Top 25 Groups and Companies by Countrywide Premium." Accessed August 6, 2021.