Average car insurance rates have gone up in recent years due to a number of factors, including an increase in the cost of vehicle repairs. That’s reflected in our 2024 national average rate, which was higher than the previous year. Geico’s national average rate was also higher in 2024 ...
Allstate, another major insurance company, dominates 5 percent of the total market share compared to Geico’s nearly 7 percent. Allstate also trailed Geico in terms of Bankrate Scores, earning a 3.9 auto Score to Geico’s 4.4. Like Geico, Allstate offers a couple of discounts and special ...
During this same period, an increase in the number of underwriting losses resulted in weaker profits for the company, and in the first quarter of 2000 GEICO suffered a total underwriting loss of more than $86 million. Although the company had increased its market share at least 40 percent ...