Cig vs. GEICO: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for car insurance, Cig offers significantly more affordable premiums than GEICO
• Cig offers more affordable prices for policyholders who are looking to purchase insurance with a spouse
• GEICO may help you save more money -- they offer more discounts than CIG Insurance

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Cig or GEICO: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? You've probably seen commercials and billboards from companies offering sizable savings, but exactly how much money can you save by switching?

You've maybe even narrowed it down to Cig or GEICO, but which company will save you the most?

Looking at the national average rates for both carriers, GEICO is quite a bit more expensive than Cig, with rates averaging $185 a month compared to just $119 with Cig.

Even so, that doesn't mean Cig will necessarily be less expensive than GEICO for every single driver. Auto insurance companies use all sorts of complex algorithms to determine premiums, so depending on where you live or how good your credit score is (among a variety of other factors), you could see wildly different prices from the ones above.

Wanting to know if Cig or GEICO is really the right company for you? Keep on reading to see how average rates can change based on all of the factors we've mentioned above.

Cig vs. GEICO: Average Car Insurance Rates by State

Cig and GEICO compete against each other in four states, with Cig offering cheaper premiums to the average driver in all of them. Oregon has the most noticable difference, where Cig prices are $96 more affordable than car insurance rates at GEICO.

There's a lot more that goes into your auto insurance bill than just where you live. Read on to find out more.

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Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance premiums of any other group of drivers out there on the road. The reason is that teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

That being said, that doesn't mean that teen drivers have to just accept sky-high car insurance prices. Just look at the table above -- where 18-year-old drivers who have Cig for their auto insurance pay almost 35% less than those who use GEICO.

But both carriers will offer you dramatically lower rates by the time drivers turn 25. For example, average prices for Cig policyholders decrease around $100 and GEICO's premiums reduce over $200 over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the lowest insurance rates you'll ever find. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for car insurance.

But who has the best premiums for retired drivers between Cig and GEICO? Cig gets the edge here, with average prices coming in at about $86 per month compared to GEICO's $148.

Which is the Best Company for Married Drivers?

Married drivers tend to get slightly less expensive auto insurance rates than single drivers. That's because policies for married couples usually cover multiple vehicles, which a lot of companies will give you a discount for.

For those who are single, the difference in average premiums between these two carriers is significant, with Cig rates coming in at a third less than GEICO's. For married policyholders, the advantage is clear again - Cig has the edge when it comes to average premiums.

Cig or GEICO: Average Rates by Gender

Women generally to pay less for insurance than men. This is because men are statistically more likely than women to get into a collision or get pulled over for speeding, which leads to increased risk for insurers and, therefore, higher prices.

Generally, women see premiums around $4 per month cheaper with Cig, and about $10 cheaper with GEICO when compared to their male counterparts.

When it comes to the most affordable prices for each gender, Cig comes out on top for both men and women, with average rates 36% less for men and 35% cheaper for women.

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Cig vs. GEICO: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

For most people, car insurance can be pretty complicated. There are many different coverages that account for multiple different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause an accident.

The two most common policies that drivers look at fall into two categories -- liability coverage (which covers the other party's property damage and injuries if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside liability).

Looking specifically at state minimum liability limits, Cig has the significant edge, with average monthly prices coming in at $71. If you want a full coverage policy with the same state minimum limits, Cig again has the edge, with policies averaging around $166 a month to GEICO's $269.

Is Cig or GEICO Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their auto insurance. But that's not to say you can't save money if you don't have the best driving record, either.

Collisions and speeding tickets will most likely raise your rates, but is Cig or GEICO more affordable for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Cig for their insurance can typically expect their monthly bill to go up about 21% after getting a speeding ticket. GEICO policyholders can expect a bit more drastic of an increase of around 23%.

However, Cig is usually the less expensive option for drivers both with a ticket and with a clean record. With CIG Insurance, drivers with a clean record can save about $27 per month and drivers with a speeding ticket can save around $38 a month.

Which Company is Best for Drivers After an Accident?

Cig drivers who get in an accident can expect to see their premiums increase by $30, while those who have insurance through GEICO will see about a $85 increase.

At the end of the day, Cig offers the cheapest rates for drivers with an at-fault collision on their records, with average premiums coming in at $118 compared to GEICO's $200.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly car insurance bill -- typically a lot more than a collision or ticket. On average, GEICO will increase your prices around 58% after a DUI, while Cig's average rates rise by nearly 45%.

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How does Credit Score Impact Cig and GEICO Rates?

Often times, your credit score can come into play when companies calculate your monthly bill. This isn't true for everyone (for example, Michigan and Massachusetts are two states that ban the practice entirely), but it might come into play for several policyholders.

The reasoning auto insurance carriers use is that drivers with bad credit will be less likely to pay their bills on time; so generally, they'll be asked to pay more, while those with good credit will be rewarded with cheaper premiums.

Looking specifically at Cig and GEICO, which carrier has the best prices for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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Is Cig or GEICO Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a big impact on your monthly insurance payment. That's because the more milage you put on your vehicle, the more likely you are to be in an accident and file an insurance claim.

For both remote workers and those taking short commutes, Cig offers more affordable rates than GEICO. Cig's average premiums for drivers with 6,000 annual miles come in about 38% less expensive than GEICO. Those who drive 12,000 miles every year can expect to pay around 34% less with Cig over GEICO.

Cig or GEICO: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your car can have a substantial impact on your monthly car insurance cost. Normally, if you live in a rural area with fewer cars on the road, you'll pay a little less for insurance, while the opposite is true for people in urban areas.

Cig tends to offer the cheapest rates for drivers in every type of area, no matter if it's urban, suburban, or rural.

For drivers in urban ZIP codes, CIG Insurance's average premiums are about 39% less than GEICO. People who live in suburban areas pay around 34% less with Cig compared to GEICO. Those in rural areas can expect to save about 33% with Cig compared to GEICO.

Cig vs. GEICO Discounts

You want to save as much money as you can, right? The best way to do that is by utilizing as many auto insurance discounts as possible.

The challenging part is finding all of the discounts you're eligible for, since it can feel sometimes like every company has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Cig and GEICO so that you can find the company that has the most discounts and, therefore, the largest savings.

Overall, GEICO comes out ahead with 28 discounts to Cig's 25.

There are a couple discounts both companies offer, but GEICO also offers discounts for commercial drivers license, COVID-19 relief, deployed driver, and more.

On the other hand, Cig has a few proprietary discounts of their own for things like advance quote discounts, company car discounts, good payer discounts, and more.

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Final Thoughts: Is Cig or GEICO Best for You?

So, we've broken down the average prices for many of the variables car insurance carriers look at, and we've shown you all the discounts each carrier offers. That's all well and good, but when it comes down to it, is Cig or GEICO the right carrier for you and your specific profile and needs?

Cig might be best for you if....

• You will be the only person on the insurance policy.
• You already have a great credit score.
• You want to save money while purchasing auto insurance for a teenager.

GEICO might be best for you if...

• You're thinking about moving to another state -- undefined only offers policies in.
• You want to save extra money with discounts.

Hopefully, this guide helps you get a better idea of the difference between Cig and GEICO. We also hope we've given you the information you need to make the best decision about your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from several companies, not just Cig and GEICO. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of the top auto insurance carriers in your area, all in just a few minutes.

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Cig vs. GEICO FAQs

Is Cig or GEICO cheaper?

Cig is the cheaper of the two companies when looking at national average rates, with policies averaging $119 per month with Cig and $185 for GEICO. But that doesn't mean Cig will be the lowest company for each policyholder, since there are several different factors (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, Cig or GEICO?

Sadly, the answer truly is "it depends.". No one carrier is necessarily "better" for everyone -- it all boils down to your unique car insurance profile.

Why do Cig and GEICO offer me different rates?

Auto insurance carriers use lots of different variables when determining the premiums they charge. Things such as age, gender, your driving record, where you call home, and sometimes even things like your credit score can all come into play. Both Cig and GEICO use different formulas, so it's likely they'll offer different prices. The best way to determine which company is the cheapest for you is by comparing personalized quotes from a variety of different companies.

How do I know if Cig or GEICO is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from multiple carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your area information and you'll get quotes from dozens of your local top auto insurance companies for free. That way, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Cig or GEICO at all, but another you hadn't even thought of!

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Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.