Geico and Progressive are two forward-thinking insurance companies whose products, services, and advertising campaigns are continually shaking up the industry.
You might be surprised to learn that these two insurance innovators have markedly different value propositions for their customers. In short, Geico is often a wise choice for older drivers with good records, and Progressive may be a better choice for younger drivers. But there's more to it than that...read on to see why.
Emergency Road Service - This comes in handy when you have a flat tire, vehicle lockout, jump starting a dead battery, and towing. You can expect to pay as little as $14 per year for this feature to be added to your coverage.
Mechanical Breakdown Insurance - Basically MBI is for new vehicles or leased vehicles that have less than 15,000 miles and are fewer than 15 months old. Once purchased, the mechanical breakdown insurance can be renewed for up to 100,000 miles or until the vehicle is 7 years old, depending on which occurs first. It is worth a look to compare this insurance to extended warranties usually offered by dealers. Mechanical breakdown insurance will be voided if proper maintenance is not done regularly.
Rental Reimbursement - With this feature added to your policy, never worry about being left without a vehicle while a repair is being done. The rental reimbursement is $25 per day/$750 per accident; Geico will cover a rental for 30 days at $25 per day per accident.
The pros about Geico Auto Insurance are features such as:
- Rental reimbursement
- Emergency Road Service
- Depending on your driving history and other factors, some have had cheaper rates with Geico.
- Usually not suitable for younger drivers.
- At times, Geico will not renew coverage for certain drivers.
- On websites like Epinions.com, there are many reports of Geico having bad customer service.
Snapshot Discount - Basically Progressive will mail you a device like a computer chip to plug into your vehicle’s system. For 30 days, Progressive will monitor your driving habits. You will also be given a chance to log on to their system and view your driving habits as well. If you qualify for the discount after the 31-day mark, you can save up to 30% on your insurance.
24/7 Roadside Assistance - This will come in hand for a dead battery, flat tire, lockout, insufficient amount of water, oil or fuel, trapped in mud, snow or sand within 100 feet of the roadway.
Rental Reimbursement - This will help you to stay mobile while your vehicle is out of commission being repaired. This feature is much needed for people who have only one vehicle. Progressive will cover rental expenses up to 30 days for $30 per day but no more than $900 per accident.
Custom Parts and Equipment/Accessory Coverage - This will cover up to $1,000 in customized parts and accessories. You can increase coverage to $5,000 by adding $4,000 in additional CPE coverage.
In addition to the features above, Progressive was very cheap for the second vehicle I purchased.
According to certain customers and former customers, Progressive has a reputation for sometimes not pursuing the other drivers involved in an accident. There are several horror stories online about people paying their own repairs because Progressive was "dragging their feet".
In general, our research found that Geico is usually a better choice for slightly older drivers with a good driving record. Progressive is often a better choice for drivers who need the best price, or who may have a few points on their driving record. That said, choosing auto insurance is somewhat of a toss-up. If you discuss with a handful of people, you will find that some had great experience and horrible experience with both auto insurance companies. Prices can vary depending on certain factors, such as driving record, credit score, miles driven annually, and a variety of other factors. It is worth your time to compare specific quotes from both companies.
Please note that some features might not be available in your state.