3.7 / 5

GEICO Homeowners Insurance Review

If you’re already a GEICO customer for auto insurance, consider getting a home policy with them for the multi-policy discount. Otherwise, there are other less confusing options out there for homeowners protection.

Tim Torres

By

Tim Torres

Tim Torres

Reviews Editor

Tim Torres is a former reviews editor at Policygenius, where he specialized in life insurance, homeowners insurance, auto insurance, and more. His work has also appeared in PC Mag, Tom's Guide, Tech Times, and elsewhere.

Updated|7 min read

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GEICO

OVERALL

3.7

3.7

THE GOOD

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    Available in all 50 states

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    Industry-best financial strength

THE BAD

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    Policy cost and options depend on partner company

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    Minimal discounts available

THE BOTTOM LINE

GEICO partners with other companies for homeowners insurance, so you won’t be dealing with the gecko commercial company for payments, claims, or anything else. If you’re already a GEICO customer for auto insurance, maybe consider getting a home policy with them, too, for the multi-policy discount.

Price

Average annual premium cost for a medium-sized home.

5.5

Financial confidence

Financial ratings from credit rating agencies.

9.7

Third-party ratings

Satisfaction from consumer sentiment institutions and complaints to state insurance boards.

5.4

Policy options

Both the quality and number of coverage options, like unique homeowners insurance product tiers and availability of certain coverage endorsements.

10.0

Customer experience

Ease of use, convenience, availability, and claims ratings.

7.0

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The Details

The Good

Available in all 50 states. If you want a policy with GEICO, you won’t have to search very far. They’re available all over the United States, except U.S. territories.

Industry-best financial strength. GEICO garners high ratings from financial institutions A.M. Best, Moody’s, and Standard & Poor’s. Rest assured that if you’re in a jam, GEICO will pay to get you out of it.

The Bad

Policy cost and options depend on partner company. You’ll see this clarification a lot in this review, but GEICO doesn’t actually handle your policy, its coverage, or even the claims or payments processes. GEICO only acts as a broker for other homeowners policy carriers, which can create confusion for customers, especially when it comes to customer assistance.

Minimal discounts available. Shoppers can get discounts for bundling, fire extinguishers, smoke detectors, and security systems. Other discounts may be available to you, depending on what your partner carrier offers.

The Breakdown

Price

Average annual premium cost for a medium-sized home.

5.5

The gecko-headlining carrier is a unique case because they’re technically a homeowners insurance broker, not a traditional insurance company. That means GEICO acts as a middleman between other insurance companies to insure your home. The specifics of your policy, and therefore the price of it, will depend on the specific carrier you’re paired up with.

Based on sample $300,000 home, we were quoted an annual premium of $1,270.

Again, like its auto insurance product, GEICO doesn’t underwrite its homeowners policies, so what you actually end up paying can vary depending on the third-party company you’re matched up with.

The above sample quote is provided for a sense of what you can pay for GEICO’s homeowners insurance. If you want to compare quotes and find the best rates, you’ll have to contact an independent broker or conduct a quote comparison on your own.

Discounts

When it comes to discounts, GEICO leaves much to be desired, offering discounts for bundling, smoke alarms, fire extinguishers, and security systems. However, GEICO doesn’t underwrite its policies, so any other discounts you may get depend on the company they pair you up with. For example, in our sample quote, we were offered discounts for being new homebuyers, good drivers, and a roof discount.

Financial confidence

Financial ratings from credit rating agencies.

9.7

Customers unfamiliar with GEICO’s homeowners options should know that the insurer has industry-best financial backing to protect your home and financial and personal assets in the event of a fire or similar event.

Here’s what the experts say:

  • A.M. Best: A++

  • Moody’s: Aa1

  • Standard & Poor’s: AA+

A.M. Best, a reliable credit rating firm that specializes specifically in the insurance industry, rates GEICO an A++ (effective December 2, 2021). That’s the highest rating a company can get. GEICO has a superior ability to meet the ongoing financial needs of customers.

Financial analysis firm Moody’s measures a company’s expected losses if it were to go into default. They give GEICO an Aa1, the second-highest rating possible, making GEICO a high-grade investment quality firm that’s subject to very low credit risk.

Standard & Poor’s measures the long-term financial stability and creditworthiness of companies. GEICO gets an AA+ from S&P, which is the second-best rating there is. That means the insurer has a “very strong” capacity to meet its financial commitments, and has lots of cash on hand to fulfill debts.

Third-party ratings

Satisfaction from consumer sentiment institutions and complaints to state insurance boards.

5.4

Financial and credit rating agencies are pretty thrilled about GEICO. You’ll see that the carrier’s customers, and the websites that gather customer sentiment, are less enthused, though that’s mainly due to negative reactions related to GEICO’s auto insurance products. Keep in mind there are over 17 million auto policyholders and the complaints aren’t that much of a big deal.

Here’s what customers and customer rating agencies think about GEICO:

  • Consumers Advocate: 4.1 / 5

  • Consumer Affairs: 1.9 / 5

  • Trustpilot: 1.5 / 5

  • NAIC complaint index: 0

Consumers Advocate is a third-party review site that focuses on a company’s reputation, coverage options, customer service, and stability. They give GEICO’s homeowners insurance product an “excellent” 4.1 out of 5.

Consumer Affairs gives GEICO an average 1.9 out of 5 based on reviews written by customers. Most of the reviews are about GEICO’s auto insurance, but there are a couple that mention homeowner’s insurance. While we may normally exclude these reviews for lack of relevance, a lot of the complaints are about customer service and their overall score has decreased from a 3.9 to a 1.6. This seems pretty indicative of a potential ongoing systemic issue with GEICO’s service.

Another customer review site, Trustpilot, gives GEICO a 1.9 out 5, though the complaints are mainly about auto insurance.

Finally, the National Association of Insurance Commissioners (NAIC) tracks complaints submitted to state insurance departments. Based on their complaint index, GEICO’s homeowners insurance has a rating of zero. A score of 1 represents the baseline average, and a zero means there weren’t enough customer complaints to count.

Policy Options

Since homeowners insurance from GEICO is dependent upon the coverage options of third-party partner companies, we have based their Policy Options score on a sample quote of a $300,000 single-family home.

Since GEICO doesn't underwrite its own policies, the exact coverage you get will vary depending on the company you’re matched with. But some policy options are guaranteed to come with most homeowners insurance plans.

For example, you can count on receiving protection for damage to your house from fire, hail, wind, and water. Most companies will also cover repairing or replacing personal belongings like appliances, clothing, and furniture. Jewelry protection that covers expensive rings and precious gems is another common option.

In our sample quote, we had coverage for these six main areas:

  • Dwelling. This coverage helps pay for the repair of your home or structures on your property (like an attached garage) from fire, rain, wind, and other damage.

  • Other structures. If any other structures on your property (like an attached garage) are damaged, they would be covered.

  • Personal property. This insures your other belongings from furniture to electronics that may be damaged in a covered incident.

  • Personal liability - If someone sustains an injury on your property, or if you accidentally ruin someone else’s property, this will cover legal and medical expenses.

  • Medical bills - This will cover medical expenses if someone gets hurt on your property.

  • Additional living expenses - If you can't stay in your home because of a fire, flood, or similar emergency, this will help pay for staying at a hotel.

Other policy add-ons you may have available to you based on our sample quote are:

  • Water backup coverage. This protects you in the event that your sewers or drains overflow.

  • Computers. If your computer is damaged in a covered incident, this would cover the cost of its repair or replacement.

  • Identity theft. In the case of identity theft, this additional coverage would help with costs you may incur. 

  • Defamation of character. Similarly to identity theft, you may have costs associated with a case of defamation of character, and this would cover those if they qualified.

Again, the above policy options may vary, but they’re generally the most common components you’ll find in most homeowners insurance packages. For a personalized look at your coverage options, you should speak to a licensed insurance expert.

For more information about what homeowners insurance can cover, refer to our comprehensive homeowners insurance explainer.

Note: The information above represents potential policy options and may not be available for every applicant. Speak to a licensed expert for a personalized look at your coverage options.

Customer experience

Ease of use, convenience, availability, and claims ratings.

7.0

GEICO’s website and mobile app are both easy to use and navigate. A 24/7 phone line and virtual chat bot are available for basic questions, and you can get in touch with customer service representatives over Twitter.

However, as noted a couple times in this review, you’ll need to contact the company in charge of your homeowners policy in order to sort anything out. Thankfully, GEICO has multiple links to other carrier websites and phone numbers available for policyholders.

State availability

GEICO is available nationwide, including the District of Columbia.

Digital tools

GEICO offers some pretty good digital tools to bolster your experience. They have a quote tool that offers you insight into proposed discounts, basic policy options, and additional options for your policy. This helps bridge the gap between GEICO and your assigned partner carrier. That being said, the quote tool was slightly invasive—it asked for a social security number. And that was before you get access to the online application. It’s not a dealbreaker, but it is odd.

If you have questions during your quote and application process, GEICO also has a live chat feature. We found that to be less helpful, however, as it’s an automated response and not a live person answering your questions. 

GEICO also offers a mobile app where you can view and manage your policy, file claims, and pay your bills.

One unique feature GEICO offers is what they call the “Alexa skill.” This allows you to connect your GEICO account to your Alexa in your home or automobile. While this may seem gimmicky, we think it could be a useful feature for those with differing abilities.

The application

GEICO’s application process is about as simple as it gets. You simply enter your personal information and home address, and GEICO will autofill most of your home’s physical characteristics, like its age, roof-type, and square footage. There are a few other pages and questions after that, but for the most part the application is over quickly.

From there, GEICO matches you with an insurance company in your area and generates a quote for you within a matter of minutes. After you’ve adjusted your coverages and finalized your policy, you’re all set to go with a new homeowners policy.

Ease of claims

If you need to file a claim, GEICO can put you in touch with the home insurance company handling your policy. They have a company list of phone numbers and links to websites on their claims website. GEICO also has a Catastrophe Claims Center in the event you may need them.

Payment methods

You can pay your bill online, over the phone, or through the app.

Policygenius offers insurance policies from many of the nation's top insurers, who pay us a commission for our services. However, all editorial choices are made independently.

Author

Reviews Editor

Tim Torres

Reviews Editor

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Tim Torres is a former reviews editor at Policygenius, where he specialized in life insurance, homeowners insurance, auto insurance, and more. His work has also appeared in PC Mag, Tom's Guide, Tech Times, and elsewhere.

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