Is Allstate Cheaper Than Geico?

  • John A. Osborne
  • Dec 06, 2022
Small Business Insurance Colorado

Car insurance is an essential element of owning a vehicle, and finding the right insurance company can save you money in the long run. Allstate and Geico are two of the most popular car insurance companies in the United States, but which one is cheaper? Many factors come into play when comparing insurance rates, and it’s crucial to do your research before making a final decision. In this article, we will compare Allstate and Geico’s rates and see which one is the cheaper option.

The Basics: Allstate vs. Geico

Before diving into the details, let’s look at the basics of each company. Allstate was founded in 1931 and provides insurance for over 16 million households. They offer a wide range of insurance products, including car, home, life, and business insurance. Geico, on the other hand, is much younger, founded in 1936, and is known for its catchy commercials and low rates. They provide insurance for over 28 million vehicles and are the second-largest auto insurance company in the United States.

Factors Affecting Car Insurance Rates

Several factors impact car insurance rates, and each insurance company has its way of calculating them. Here are some of the most important factors that can affect your insurance rates:

  • Age, gender, and marital status
  • Driving history and experience
  • Type of car and its safety features
  • Location and driving habits
  • Credit score and insurance history

Allstate vs. Geico Rates

When comparing rates between Allstate and Geico, there are a few things to keep in mind. Firstly, the rates can vary depending on your location, driving history, and other factors mentioned above. Secondly, it’s essential to compare the same coverage limits and deductibles when comparing rates. Lastly, bundling different types of insurance policies with the same company can often lead to lower rates.

According to a recent study by WalletHub, Geico is generally cheaper than Allstate. They found that Geico’s average annual rate is around $1,198, while Allstate’s average annual rate is around $1,834. However, these rates can vary depending on the factors mentioned earlier.

Other Factors to Consider

While rates are a crucial factor when selecting car insurance, there are other things to consider. Here are some of the other factors that may influence your decision:

  • Coverage options and limits
  • Customer service and support
  • Claims process and satisfaction
  • Discounts and rewards
  • Financial stability and ratings


When it comes to finding the cheapest car insurance, Geico seems to be the better option, according to WalletHub’s study. However, it’s essential to do your research and compare rates, coverage options, and other factors before making a decision. Ultimately, the best car insurance company for you will depend on your unique circumstances and needs.

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