Whether you’re looking for the cheapest car insurance in Louisiana, Maine, or Texas, two companies’ names will come up time and again—GEICO and Progressive.

While traditional insurers have local branches and offices, GEICO and Progressive mostly operate online and via phone. Without expensive overhead and local staff, it’s cheaper for these companies to run their businesses. They then pass these savings on to the drivers, resulting in some of the most affordable policies around.

Both Progressive and GEICO are known for their low rates, easy-to-use apps, and comprehensive coverage. But when it comes to Progressive insurance vs GEICO, which is best?

In this short guide, we’ll go over these two companies’ strengths and weaknesses so you can decide where to take out a policy.

All About GEICO

GEICO isn’t just one of the most affordable insurers—it’s also one of the most popular.

Here’s a little past and present history on this auto insurer:

  • GEICO stands for Government Employees Insurance Company. Founded in 1936 to provide auto insurance for government employees, the company became a subsidiary of Berkshire Hathaway in 1996. It has long since expanded to cover people not employed by the government, too.

  • According to a study by U.S. News, GEICO is the #2 insurer for customer satisfaction. (The #1 insurer, USAA, is only available for U.S. military personnel, veterans, and their families.)

  • This high customer satisfaction is reflected in GEICO’s market share. With 13% of drivers using GEICO, it’s also the second biggest insurer after State Farm Insurance. GEICO covers 28 million cars.

Geico’s strengths include its low insurance rate, high customer satisfaction ratings, and the availability of insurance coverage options for mechanical breakdowns.

All About Progressive

Progressive is another highly rated, affordable insurer. It has several differences from GEICO.

  • Another longstanding car insurance company, Progressive was founded in 1937. From the beginning, it was aimed at providing affordable insurance to everyone.

  • Progressive is the third largest insurer in the U.S, cornering 12% of the market. It’s also well-regarded by consumers, perhaps because there are some local insurance agents available for customer support via phone. You can also use the online chat feature to receive quick responses.

Progressive also has some unique tools that can help lower the cost of your policy.

  • The “choose your price” tool allows you to state what you’d like to pay. Then, Progressive customizes a policy based on that insurance rate.

  • With the “snapshot” program, you drive with a telemetric device for a set period. If you display good driving and low mileage, you can save on insurance.

Progressive’s strengths include its low rates and highly customizable car insurance coverage.

GEICO vs Progressive Auto Insurance, Head-to-Head

While it’s good to have a little background on both companies, you still want to know where you can get the best Louisiana car insurance rates (or Kentucky, or anywhere)!

To definitively tell you which insurer will be cheaper for you, you’ll need to look at the factors that determine insurance premiums. These include:

  • Age

  • Gender

  • State and address

  • Driving history

  • Annual mileage

  • Whether you own or rent your home

  • Whether you lease or own your vehicle

  • Credit score

  • Vehicle type

The overall price of your policy also depends on the coverage limits you select. For example, the Louisiana state minimum car insurance will be more affordable than a comprehensive policy that includes collision insurance, roadside assistance, and other benefits.

Nonetheless, for a few facts about which is better overall—Geico vs Progressive...

  • Price – GEICO insurance is more affordable than Progressive in most states. However, there are several states where Progressive is less expensive. Be sure to check your insurance rates with both providers to see who has the edge in your area.

  • Friendliness for high-risk drivers – While GEICO is, on average, more affordable, Progressive may offer lower rates to drivers with a DUI on their records. If you have issues in your driving history, Progressive could potentially offer a lower overall rate.

  • Customer satisfaction – Both companies are well-regarded, but GEICO insurance has higher customer satisfaction ratings.

  • Gap insurance – If your car is totaled or stolen, Progressive’s gap insurance may help you pay off an outstanding auto loan. GEICO doesn’t offer this kind of insurance.

Consider the benefits of each policy, and then check out your rate with both providers.

Shop and Compare with OAI

Which company’s ID card should you place next to your Louisiana car registration? While GEICO and Progressive are both great options, you may want to shop with other insurers, too.

Online Auto Insurance is your one-stop shop for finding insurance that meets your unique situation. Search our database or talk to a representative to receive quotes from dozens of insurers based on your specific risk profile, address, and coverage needs.

There’s no better way to understand your car insurance coverage options, get insured, and hit the road with the confidence that you’re prepared for anything that comes your way.

Sources:

Progressive. How progressive began and evolved. https://www.progressive.com/about/history/

RDN. Progressive big gainer as NAIC releases 2019 auto insurance market share data. ttps://www.repairerdrivennews.com/2020/04/21/progressive-big-gainer-as-naic-releases-2019-auto-insurance-market-share-data/

Insurance Business. State Farm Could Lose Top Auto Insurer Slot to Geico. https://www.insurancebusinessmag.com/us/news/breaking-news/state-farm-could-lose-top-auto-insurer-slot-to-geico-211990.aspx

US News. GEICO vs. Progressive Auto Insurance. https://cars.usnews.com/cars-trucks/car-insurance/geico-vs-progressive