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Geico vs Amica

Stressed and worried young Asian woman working from home, handling paperworks and going through her financials
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Geico is short for Government Employees Insurance Company. Founded in 1936, Geico began as an insurance company offering insurance to government employees and military personnel. Today, it is a subsidiary of Warren Buffet’s Berkshire Hathaway and insures over 30 million vehicles, with over 18 million in-force auto insurance policies nationwide. Geico is the second-largest auto insurer by market share, and won two Bankrate Awards in 2023: Best Auto Insurance Company Overall (tied) and Best Budget Auto Insurance Company.

Founded in 1907, Amica is headquartered in Rhode Island and is the oldest mutual car insurance company in the U.S. Though Amica does not make the top 10 insurance carriers in premiums written, it consistently ranks highly in J.D. Power’s annual studies of customer satisfaction ratings. Amica offers unique features and coverage options, like its dividend auto insurance policies, which offer customers up to 20 percent back on their yearly premiums. Amica also won a 2023 Bankrate Award as it tied with Geico for Best Auto Insurance Company Overall. To learn more about Amica or to get a quote, call an agent or visit amica.com.

Geico

Amica

Bankrate score

4.4

4.4

Tier 1

4.5

3.8

Tier 2

4.0

5.0

Tier 3

4.7

4.8

  • Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

    Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

    • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.

    • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.

    • Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

    Tier scores are unweighted to show the company’s true score in each category out of a possible five points.

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Our verdict

We studied average premiums provided by Quadrant Information Services, and according to our data, Geico is generally cheaper than Amica. However, Geico’s coverage options are a bit sparse compared to Amica’s. For instance, Amica’s Platinum Choice Auto package offers credit monitoring, new car replacement on eligible vehicles and a zero-dollar deductible on glass. On the other hand, Geico doesn’t offer new car replacement and if you want credit monitoring, you’ll have to purchase an identity theft policy. Based on this information, budget-conscious drivers may be more interested in Geico car insurance, and drivers looking for robust coverage options may find Amica especially appealing.

Geico vs. Amica comparison

Insurance companies may seem similar across the industry, but when you examine specific coverage options and benefits, you’ll come to find that each carrier is unique in its own way.

Geico pros and cons

Pros

Cons

Rates are generally lower than average for many segments of drivers

Does not offer gap insurance or new car replacement coverage

Nationwide availability

Few local offices, depending on where you live

Mechanical breakdown insurance is offered on eligible brand-new vehicles and works similarly to an extended warranty

Geico sells its homeowners insurance through underwriting partners rather than directly, which may be important to customers wishing to bundle

Amica pros and cons

Pros

Cons

As a mutual company, Amica policyholders have the potential to earn dividends

Not available in Hawaii and online quotes not available for those in Louisiana

Robust coverage options included in convenient prebuilt packages

Few local offices

Long list of vehicle safety-related discount opportunities

Claims, customer service and sales chats not available 24/7

Is Geico cheaper than Amica?

The national average cost for a full coverage car insurance policy in 2023 is $2,014 per year, with minimum coverage averaging $622. As you can see in the tables below, both Geico and Amica fall far below the national average, with Geico coming in slightly cheaper than Amica. The average rate for a full-coverage Geico policy is 33 percent lower than the national average. Amica, on the other hand, is 27 percent below average.

Car insurance company

Average annual premium for full coverage

Average annual premium for minimum coverage

Geico

$1,353

$373

Amica

$1,467

$429

  • Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. 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 coverage that meets each state’s requirements. Our base profile drivers own a 2021 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.

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Geico is generally cheaper for drivers with poor credit

Car insurance companies may use several factors to determine how much to charge you for coverage, and your credit score could be among them. That is unless you live in California, Hawaii, Massachusetts or Michigan, where insurance companies state law prohibits or restricts insurance companies from using credit as a rating factor. Statistics show that the lower a driver’s credit score, the more likely they will file a claim. Your carrier might charge you more expensive premiums due to this heightened risk.

According to our rate data, provided by Quadrant Information Services, Geico’s average premiums for drivers with poor credit are lower than Amica’s by nearly 16 percent. In fact, Geico policyholders with poor credit may enjoy lower average premiums than the national average for drivers with good credit (which is $2,014).

Credit Score

Geico

Amica

Poor

$1,865

$2,216

Average

$1,437

$1,544

Good

$1,353

$1,467

Excellent

$1,258

$1,392

  • Credit-based insurance scores: 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. Four states prohibit or restrict the use of credit-based insurance scores as a rating factor in determining auto insurance rates: California, Hawaii, Massachusetts and Michigan.

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Geico is generally cheaper for young drivers

Age is another rating factor that can impact your car insurance premium (unless you live in Hawaii or Massachusetts). Perhaps due to inexperience and propensity for risky behavior, 16- to 19-year-old drivers make up the bulk of fatal car accidents per miles driven compared to other age groups, and generally speaking, the younger you are, the higher your car insurance premium may be.

When comparing Amica vs. Geico, Geico is much cheaper, based on average rates, for teens and young drivers, as demonstrated by the table below. Please note that the premiums below represent the total cost to insure a young driver on their parents’ policy.

Geico

Amica

Age 16

$2,977

$3,682

Age 17

$2,753

$3,385

Age 18

$2,523

$3,123

Age 19

$2,212

$2,747

Age 20

$2,054

$2,603

Geico is generally cheaper for adult drivers

The table below represents average premiums for drivers listed on their own policy. Your statistical risk of being involved in an accident decreases as you get older, and your car insurance premiums may follow suit (until your senior years, when rates tend to creep back up). Just as with young drivers, Geico offers lower average premiums for adults than Amica. The age with the most significant premium disparity is 18. For this segment of drivers, Geico offers an average premium that is 25 percent lower than Amica’s.

Geico

Amica

Age 18

$4,048

$5,423

Age 25

$3,256

$3,740

Age 30

$1,389

$1,515

Age 40

$1,353

$1,467

Age 60

$1,264

$1,434

  • Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations, although, in Massachusetts, insurers are allowed to factor in years of driving experience.

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Geico is generally cheaper for high-risk drivers

Maybe one of the most significant car insurance rating factors is your driving history. Typically, your carrier will review your driving history to help predict the likelihood that you will be involved in a future accident.

For most types of incidents, Geico offers lower average premiums than Amica, making it generally cheaper for high-risk drivers. However, those with one at-fault accident on their record may find Amica lower than Geico (although your rates may vary, depending on your other factors). It’s important to mention that not all insurance companies will offer a policy to those with a DUI on their record. For more information on Geico or Amica’s DUI rates, please get in touch with the company directly.

Geico

Amica

Clean driving record

$1,353

$1,467

Speeding ticket conviction

$1,658

$1,788

At-fault accident

$1,988

$1,742

DUI conviction

$3,351

$3,934

  • Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.

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Geico vs Amica: Discounts

Car insurance companies offer their own set of unique discounts; depending on which you qualify for, you might find that your rate is cheaper than average. Below are some potential discounts you may want to consider when comparing Geico vs. Amica.

Geico unique discounts

  • Eagle discount: Active and retired federal employees could save up to 12 percent on their Geico car insurance.

  • Membership and employee discount: Geico is affiliated with more than 500 professional groups, fraternities and sororities. If you’re a member of one of these groups (or a Geico employee), you may qualify for this discount.

  • Emergency deployment discount: Military personnel deployed to an imminent danger zone could save up to 25 percent on their policy.

Amica unique discounts

  • Homeownership discount: If you own your home, you could save on your Amica car insurance (even if you insure your home with another company).

  • Adaptive headlights discount: If your car comes equipped with adaptive headlights that help you see in low-light conditions, you may be eligible for a discount.

  • Rewarding your parent’s loyalty discount: Policyholders younger than 30 could get a discount if their parents have had an Amica auto policy for five years or more.

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Usage-based insurance comparison: Geico vs Amica

Geico’s DriveEasy program may help policyholders save money on their car insurance if they drive safely. Although this telematics discount isn’t available in every state, eligible drivers could earn this discount by downloading a mobile app and allowing the company to track their driving habits, such as hard braking and what time of the day they generally drive. However, beware — if Geico deems you a risky driver, you could see your rates go up instead of down.

Amica, on the other hand, does not offer a telematics discount at this time.

Geico vs. Amica: Customer experience comparison

Although average rates are essential when comparing car insurance quotes, shoppers looking for top-of-the-line coverage may also want to research customer experience. To evaluate this metric, Bankrate’s team of insurance experts studied scores issued by the J.D. Power 2022 U.S. Auto Claims Satisfaction Study. In addition to J.D. Power scores, we looked at customer reviews for Geico and Amica’s mobile apps. In today’s digital world, many drivers may prefer to handle their policies electronically, which could mean that an easy-to-use mobile app is fundamental for a positive customer experience.

When using these metrics, Geico and Amica have similarly high scores for customer experience, but Amica may come out on top. According to J.D. Power, the 2022 industry average score for claims satisfaction is 873 out of 1,000 points. Both Geico and Amica scored above the industry average, but Amica earned an impressive first place.

When it comes to mobile experience, both companies earned a near-perfect five-star rating in the Apple store, but Geico’s mobile app may be more functional than Amica’s for Android users, based on Google Play ratings. Amica’s lower Google Play score could be due to payment processing issues, as reported by customer reviews.

Geico

Amica

Apple store

4.8 out of 5

4.8 out of 5

Google Play

4.6 out of 5

3.8 of 5

J.D. Power

874 / 1,000

903 / 1,000

Frequently asked questions

    • Yes, both Geico and Amica offer homeowners insurance. However, Geico doesn’t write its own homeowners policies but instead writes this product through underwriting partners. In other words, Geico agents sell homeowners insurance policies that are written by companies that partner with Geico. This process can make it challenging to research Geico’s homeowners insurance product since you don’t know what insurance company your quote will be with until you contact Geico. Additionally, homeowners insurance may not be available in your state, whether you are with Geico or Amica. For instance, although both companies have a near-nationwide availability for homeowners insurance, neither offers this type of policy in Florida. For more information, it may be best to request a homeowners quote directly from the company.

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    • Picking the best car insurance company could start with determining your priorities. First, you may want to decide what kind of coverage you need. For instance, are you looking for the lowest rates? If so, you may want to look for the company that offers the most discount opportunities. Or, perhaps you’re willing to spend a little more on premiums for a high-quality policy. If that’s the case, you might want to look for the company that offers the most coverage options. Once you know what you’re looking for in an insurance company and what type of policy you need, it may be time to gather quotes and compare companies.

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    • Rates are constantly in flux — the cheapest company today may not be the cheapest company tomorrow. Furthermore, car insurance premiums are based on several personal factors, some of which could include where you live, your credit score, your driving history, age, gender and more. As such, no car insurance company is the cheapest for every driver. Instead, the easiest way to find the most affordable insurance company for you may be to request quotes from multiple companies and consult a licensed agent if needed.

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