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

Quick Facts

• In general, Pemco offers significantly more affordable premiums than GEICO
• GEICO offers more discounts than PEMCO Insurance
• Pemco offers less expensive average prices for policyholders who live in suburban areas

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GEICO vs. Pemco: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. You've probably seen commercials and billboards from companies offering big discounts, but exactly how much money can you save by switching?

You might have narrowed it down to GEICO or Pemco for your next policy, but between the two, which carrier has cheaper premiums for car insurance?

As you can see, Pemco is quite a bit cheaper than GEICO, with prices averaging $107 per month compared to $185 with GEICO when looking at the national average rates for insurance.

However, that doesn't necessarily mean Pemco will be the more affordable option for every driver. After all, auto insurance companies can offer drastically different rates to each driver depending on rating factors like your driving record, where you call home, your credit score, or even your age (among other things). So, at the end of the day, rates from every company will differ quite a bit from person to person.

Luckily, we've broken down average prices from both GEICO and Pemco by many different rate factors, so read on to find out which carrier is the best for you.

GEICO or Pemco: Average Car Insurance Rates by State

GEICO and Pemco only compete against each other in Washington, where Pemco offers the cheaper average premiums. For Washington residents, Pemco offers car insurance for $107 per month on average. GEICO's average rates come out to be over 20% more expensive, at $139 a month.

But there's more to insurance than just where you call home. As we mentioned above, there's a lot of things that go into how car insurance carriers calculate your prices. Read on to find out more.

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Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for auto insurance compared to older drivers. The reason is that young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

Even so, that doesn't mean teen drivers can't still save money on their car insurance. Just look at the table above -- where 18-year-old drivers who have Pemco for their auto insurance pay more than $150 less than those who use GEICO. It's worth noting that GEICO offers insurance in 50 different states compared to Pemco's one, which can skew the average premiums a bit, but the difference here is still considerable.

But with both companies, you'll see your rates decrease significantly by the time you turn 25. For example, average premiums for GEICO policyholders drop over $200 and Pemco's rates reduce about $100 over that time.

Which is the Best Company for Retired Drivers?

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

But who has the best prices for retired drivers between GEICO and Pemco? Pemco gets the edge, with rates for drivers 65 and older nearly 40% cheaper than the national average for GEICO.

Which is the Best Company for Married Drivers?

Did you know that insurance premiums are normally more expensive for single drivers than they are for married drivers? That's generally because married policyholders tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Pemco is the clear winner for those who are single, with rates around $85 a month less expensive than GEICO, on average. For married couples, the advantage is clear again - Pemco has the edge when it comes to average prices.

GEICO vs. Pemco: Average Rates by Gender

Women typically to pay less for auto insurance than men. This is because men are statistically more likely than women to get pulled over for speeding or get into an accident, which leads to increased risk for insurers and, therefore, higher rates.

Men generally pay about 4% more per month than women with GEICO, and around 4% with Pemco.

When it comes to the most affordable prices for each gender, Pemco comes out as the cheapest option for both genders. On average, women save about $76 a month and men save about $80 with Pemco compared to the average GEICO policyholder.

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GEICO or Pemco: 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.

Insurance can be a complicated subject for most people. Everyone needs car insurance, but there are so many different coverages and terms that it can be hard to find the right policy.

That being said, most policies that many drivers look at fall into two categories -- liability only (that covers property damage and bodily injury for other drivers and passengers if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, alongside liability coverage).

If you're looking for state minimum limits for liability insurance, Pemco normally offers significantly cheaper premiums of $62 compared to GEICO's $101. When it comes to full coverage policies with similar limits, Pemco again has the edge, with policies around $100 per month less expensive than GEICO, on average.

Is GEICO or Pemco Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

At-fault accidents and tickets will most likely raise your prices, but is GEICO or Pemco more affordable for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

GEICO policyholders can expect their premiums to go up an average of $35 a month if they get a ticket, while Pemco usually raises rates about $16 per month, on average.

Even so, Pemco tends to offer the best prices for both drivers who have clean records and those with a recent speeding ticket. Drivers with a clean record can save around $30 a month and drivers with a ticket can save about $49 per month with PEMCO Insurance.

Which Company is Best for Drivers After an Accident?

GEICO drivers who get in an accident can expect to see their prices rise by just under 45%, while those who have insurance through Pemco will see around a 25% increase.

Overall, the less expensive premiums come from Pemco, with monthly rates averaging $111 compared to GEICO's $200.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or speeding ticket when it comes to your auto insurance bill. On average, GEICO will climb your prices about 58% after a DUI, while Pemco's average premiums climb by over 35%.

Pemco has the overall lowest rates for drivers with a DUI on their records at $131 monthly, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Pemco, so the data may be skewed slightly.

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How does Credit Score Impact GEICO and Pemco Rates?

In many cases, your credit score can come into play when carriers determine your monthly bill. Certain states and companies do not allow for credit score to be used as a rating factor, but it might come into play for quite a few policyholders.

The reasoning car insurance carriers use is that drivers with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper prices, while those with poor credit will typically be forced to pay more.

Looking specifically at Pemco and GEICO, which one has the most affordable rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, you'll usually find a better deal with Pemco. Drivers with "excellent" credit can save more than 50% compared to GEICO, and those with "good" scores can also expect to see savings -- around $82 or 50% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

Pemco typically offers lower premiums than GEICO when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay about $91 a month less with Pemco compared to GEICO, and those with "poor" scores generally save an average of around $75 a month.

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

Did you know that the amount of time you spend in your car have a large impact on how much insurance companies will charge for coverage? Usually, those who drive fewer miles will end up with cheaper rates since there's less of a chance of getting into a collision and causing an insurance claim.

For both drivers who put 6,000 miles on their vehicles every year, as well as those who average twice that figure, Pemco tends to be the less expensive option. GEICO's average premiums for drivers with 6,000 annual miles come in just under 45% more expensive than Pemco. Those who drive 12,000 miles yearly can expect to pay over 40% more with GEICO over Pemco.

GEICO vs. Pemco: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for auto insurance, but the type of area you live in can have a substantial impact as well. Normally, those who live in rural areas will pay less than policyholders in urban areas due to the small number of cars that are on the roads in those areas.

Pemco tends to offer the lowest prices for drivers in all areas, regardless of if they're urban, suburban, or rural.

Drivers in rural ZIP codes see the most affordable rates from both carriers, but Pemco comes out on top with average premiums about $88 monthly. Pemco also has more affordable average prices for policyholders in urban and suburban ZIP codes -- a 45% and 36% per month respective difference when compared to GEICO drivers in similar areas.

GEICO vs. Pemco Discounts

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

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

In the section below, we've taken a look at all of the different discounts GEICO and Pemco offer their customers so that you can find the company that has the most discounts and, therefore, the biggest savings.

GEICO blows Pemco away when it comes to the sheer amount of discounts available, offering 28 different discounts to Pemco's 12.

A couple of those are overlapping for things like anti-theft discounts, distant student discounts, discounts for being a good student, and paid in full discounts. GEICO also offers ABS discounts, commercial drivers license discounts, COVID-19 relief discount, and more that Pemco does not.

On the flip side, Pemco has a couple unique discounts of its own -- advance quote discounts, discounts for being a homeowner, and low mileage discounts.

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Final Thoughts: Is GEICO or Pemco Best for You?

So, we've broken down the average premiums for many of the factors auto insurance companies look at, and walked through the different discounts each carrier offers, too. That's all well and good, but when it comes down to it, which insurance company is the best fit for you?

Pemco might be best for you if....

• You like the personalized touch of a small, regional carrier.
• You want basic car insurance coverage at the state minimum limits.
• You've started working from home and don't have much of a commute.

GEICO might be best for you if...

• You value the experience that comes with a large national insurance company.
• You care about discounts (GEICO offers the most).

We hope this guide helps you get a better idea of the difference between GEICO and Pemco. We also hope we've given you the information you need to make the best decision when it comes to your auto insurance.

At the end of the day, the best way to make sure you're getting the best deal on your insurance policy is to compare quotes from a handful of carriers, not just GEICO and Pemco. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best car insurance companies in your area, all for free.

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GEICO vs. Pemco FAQs

Is GEICO or Pemco cheaper?

Looking just at the national average prices, Pemco is the cheaper of the two carriers, offering average rates of $107 a month compared to $185 for GEICO. However, Pemco won't necessarily be the cheapest carrier for each driver, since there are multiple different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, GEICO or Pemco?

Sadly, the only answer we can give you is "it depends.". No one company is necessarily "better" for every driver -- it all depends on what your unique auto insurance profile looks like.

Why do GEICO and Pemco offer me different rates?

Car insurance companies take a look at several different factors when calculating the rates they charge policyholders. Things such as your driving record, where you park your vehicle, gender, age, and sometimes even things like your credit score can all be used. Both GEICO and Pemco use different formulas, so each one will most likely offer different prices. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from several different carriers.

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

The only way to find the insurance company that's right for you is by getting quotes from several companies and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code and you'll get free quotes from dozens of the best car insurance carriers in your area. With those, you can guarantee you're getting the best price. And who knows, the best carrier for you might not be GEICO or Pemco at all!

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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.