Geico vs Costco

Geico vs Costco Bankrate Caret RightMain Menu Mortgage Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Bank Banking Compare Accounts Use calculators Get advice Bank reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Credit Card Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Caret RightMain Menu Loan Loans Personal Loans Student Loans Auto Loans Loan calculators Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Invest Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Home Equity Home equity Get the best rates Lender reviews Use calculators Knowledge base Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Loan Home Improvement Real estate Selling a home Buying a home Finding the right agent Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Insurance Insurance Car insurance Homeowners insurance Other insurance Company reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Retirement Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Advertiser Disclosure

Advertiser Disclosure

We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.

How We Make Money

The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE: Jordan Siemens/Getty Images March 29, 2022 Elizabeth Rivelli is a contributing insurance writer for Bankrate and has years of experience writing for insurance domains such as The Simple Dollar, Coverage.com and NextAdvisor, among others Maggie Kempken is an insurance editor for Bankrate. She helps manage the creation of insurance content that meets the highest quality standards for accuracy and clarity to help Bankrate readers navigate complex information about home, auto and life insurance. She also focuses on ensuring that Bankrate’s insurance content represents and adheres to the Bankrate brand. Bankrate logo

The Bankrate promise

At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure. Bankrate logo

The Bankrate promise

Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you. We guide you throughout your search and help you understand your coverage options. We provide up-to-date, reliable market information to help you make confident decisions. We reduce industry jargon so you get the clearest form of information possible. All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first. Bankrate logo

Editorial integrity

Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

Key Principles

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Editorial Independence

Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo

How we make money

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate logo

Insurance Disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. , which stands for Government Employees Insurance Company, is owned by international holding company Berkshire Hathaway. Though it is more widely known, Geico has fallen out of the top 25 for national market share for private passenger car insurance. However, – which provides Costco car insurance through CONNECT – is now the . Geico has slightly more affordable average annual rates for minimum coverage, but Costco’s average annual rates are much cheaper for full coverage. Compare rates and save on auto insurance today! Get quotes Close X RatesRates keep going up in 2022. Compare rates and save on auto insurance today! Get quotes Close X This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Compare auto insurance rates

Answer a few questions to see personalized rates from top carriers. Save on auto insurance with quotes from trusted providers like: Drivers switch & save an average of $750+/year Arrow Right Are you overpaying for auto insurance? Arrow Right Safe drivers choose Allstate Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. See more providers in Choose from insurers in Show More RATE INCREASE ALERT

Rates increased up to 12% this year

Shop for a better rate before you renew your current policy. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Compare auto insurance rates

Geico vs Costco Insurance car insurance rates comparison

The table below includes the third-party ratings and average annual 2021 premiums from Quadrant Information Services for Costco car insurance vs Geico. As you can see, Geico’s average annual rates for both minimum and full coverage car insurance are much cheaper than Costco’s. As a part of the CONNECT division of American Family, the average Costco insurance rates below are based on average American Family rates. Although average rates for American Family may differ from the average rates a Costco member will receive through CONNECT, these rates can provide an initial point of comparison as you shop for insurance. It’s worth noting that, since car insurance rates are based on multiple personal factors, your actual rates from either company are likely to differ from the average rates. In addition to third-party ratings, we also assigned each company a Bankrate Score, a score out of 0.0 to 5.0. To determine this score, Bankrate evaluated the company on different categories (average annual rates, third-party ratings, coverages offered, discounts offered) and utilized a uniform methodology to ensure that each company is rated using the same criteria. Car insurance company Bankrate Score AM Best Average annual premium for minimum coverage Average annual premium for full coverage Geico 4.6 A++ 881/1,000 $440 $1,405 Costco* 3.7* A- 889/1,000 $933 $1,911 *Costco offers insurance through CONNECT, a division of American Family, whose ratings are provided here

Rates by credit score

Geico and Costco will use your credit score to determine your premium, but it depends on where you live. It is currently illegal for insurance companies to use credit scores to calculate insurance rates in Hawaii, California, Massachusetts and Michigan. In the table below, you can see average 2021 rates provided by Quadrant Information Services for Geico, Costco and the national average based on credit score. As you can see, Geico’s average rates across credit score tiers are significantly lower than the average American Family rates we examined to give you a sense of Costco’s average pricing. Car insurance company Poor Average Good Excellent Geico $1,978 $1,505 $1,405 $1,312 Costco* $2,737 $1,889 $1,911 $1,515 National average $3,873 $1,865 $1,674 $1,487 *Costco offers insurance through CONNECT, a division of American Family, whose rates are provided here.

Rates by age

Young drivers pay the highest rates for car insurance because they lack on-road experience, and are . The table below highlights the average annual 2021 Quadrant Information Services rates for several age groups. As with credit score and overall average rates, Costco’s average rates tend to be higher than Geico’s for each age group. Car insurance company * Geico $1,897 $3,672 $1,674 $1,465 $1,405 $1,326 Costco** $2,544 $4,661 $1,966 $1,826 $1,911 $1,602 National average $2,531 $5,243 $2,108 $1,850 $1,674 $1,544 *16 year old cost when added to parents’ policy, 18-year-old renter **Costco offers insurance through CONNECT, a division of American Family, whose rates are provided here.

Rates by driving record

Drivers with a clean record pay the lowest rates for car insurance while drivers with a history of accidents, speeding tickets or DUI convictions pay much higher rates. The table below compares Geico’s average yearly 2021 Quadrant Information Services rates to Costco’s and the national average. As you can see, Geico has cheaper average rates for each driving record scenario, except a DUI conviction, where Costco’s average annual rate is about $700 cheaper. Car insurance company Clean driving record Speeding ticket Accident DUI conviction Geico $1,405 $1,734 $1,971 $3,064 Costco* $1,911 $2,020 $2,161 $2,389 National average $1,674 $2,062 $2,311 $3,139 *Costco offers insurance through CONNECT, a division of American Family, whose rates are provided here.

Geico vs Costco Insurance Discounts

Both Geico and Costco offer that can help drivers save money on their auto policy. However, each provider offers unique discounts. Here are the discounts you can get through Costco auto insurance vs. Geico

Geico

Federal employee discount: Geico is one of the few insurance companies that offers a potential discount for federal government employees. Military discount: Geico customers who are active duty military service members may qualify for a reduced premium. Membership/employee discount: Drivers may get a discount on their Geico policy if they belong to certain membership groups or work for a participating employer.

Costco Insurance

Premier safety discount: Drivers who have a perfect record, with no traffic violations, accidents or claims within the past four years may qualify for a discount. Garaging discount: If you keep your car in a garage when it is not in use, CONNECT may give you a lower premium. Education discount: CONNECT offers potential savings for students who complete a four-year degree program. This also applies to students who are insured on their parent’s policy.

Geico vs Costco Insurance Online and mobile experience comparison

Geico and CONNECT by American Family both have a good online experience. Based on our comparison, we found that Geico’s website is slightly easier to navigate and has more information about the coverage options and discounts. It is also worth noting that Geico and CONNECT both have an online quote tool and support online claims. In terms of mobile experience, Geico has one of the top-rated mobile apps that allows policyholders to manage their policy, file claims, make payments and more. If you have Costco insurance, you can only manage your policy online.

Geico

(4.8 stars): Geico’s free iOS app allows policyholders to file a claim, make a payment, request roadside assistance, view ID cards and get maintenance reminders. Overall, customers are satisfied with Geico’s app, with positive reviews of the user interface, ease-of-use and frequent updates (4.8 stars): Through Geico’s Android mobile app, users get access to all the same features that are included with the iOS app. Customers say the app is easy to navigate and convenient. However, some users have complained about issues logging in and making payments.

Costco Insurance

If you have Costco insurance through CONNECT by American Family, you can manage your policy through the online customer portal. You can pay your premium, request your declaration page or insurance binder and download your ID cards. To make changes to your policy, you will need to contact an agent.

Frequently asked questions

What is the best car insurance company

The is different for every driver. Some are known for low premiums, some are great for customer service and others stand out for their coverage options. The only way to find the best company for you is to shop around and compare providers using your own criteria.

How much does car insurance cost

In the United States, the is $1,674 per year for a full coverage policy. However, auto insurance premiums are personalized based on factors like your age, state, credit score (in most states), driving history and the type of car you have.

Is car insurance legally required

Yes, in almost every state. In New Hampshire, drivers can opt out of car insurance unless they need an SR-22 while Virginia drivers can pay an uninsured motorist fee in lieu of purchasing car insurance. In many states, you also have the ability to satisfy financial responsibility in other ways, like securing a bond. Still, you may want to consider purchasing car insurance to financially protect yourself if you have an accident.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits: $100,000 bodily injury liability per person $300,000 bodily injury liability per accident $50,000 property damage liability per accident $100,000 uninsured motorist bodily injury per person $300,000 uninsured motorist bodily injury per accident $500 collision deductible $500 comprehensive deductible To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually. These are sample rates and should only be used for comparative purposes. Credit: Rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base), and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. The following states do not allow credit to be a factor in determining auto insurance rates: California, Hawaii, Massachusetts, Michigan, Washington. Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. 16-year-old rates were factored as the added cost to their parents’ policy; 18-year-old rates were calculated as drivers who rent their primary residence. The following states do not allow age to be a factor in determining auto insurance rates: Hawaii Incident: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket, single DUI conviction (BAC of >= .08) and lapse in coverage.

Bankrate Score

Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support. To determine how well the best car insurance companies satisfy these priorities, third-party agency ratings from , , , , and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider. While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores. SHARE: Elizabeth Rivelli is a contributing insurance writer for Bankrate and has years of experience writing for insurance domains such as The Simple Dollar, Coverage.com and NextAdvisor, among others Maggie Kempken is an insurance editor for Bankrate. She helps manage the creation of insurance content that meets the highest quality standards for accuracy and clarity to help Bankrate readers navigate complex information about home, auto and life insurance. She also focuses on ensuring that Bankrate’s insurance content represents and adheres to the Bankrate brand.

TREND NOW

Geico vs Costco

Advertiser Disclosure

How We Make Money

The Bankrate promise

The Bankrate promise

Editorial integrity

Key Principles

Editorial Independence

How we make money

Insurance Disclosure

Compare auto insurance rates

Rates increased up to 12% this year

Compare auto insurance rates

Geico vs Costco Insurance car insurance rates comparison

Rates by credit score

Rates by age

Rates by driving record

Geico vs Costco Insurance Discounts

Geico

Costco Insurance

Geico vs Costco Insurance Online and mobile experience comparison

Geico

Costco Insurance

Frequently asked questions

What is the best car insurance company

How much does car insurance cost

Is car insurance legally required

Methodology

Bankrate Score

Related Articles

Comments (0)

Leave a Comment