Please note: When you have asked for a rate quote, GEICO may request credit information in accordance with applicable state law. If GEICO does not use credit information for underwriting in your state, your credit information will not be utilized.
GEICO, like many property and casualty insurers, uses information collected from consumer reporting agencies such as your driving record, credit, and claims history in order to offer you the most appropriate rate.
At GEICO we understand the importance of your privacy. The information that we obtain will be kept confidential and secure, and will not be sold or redistributed. To learn more about how GEICO protects your personal information, please review our Privacy Policy.
The insurance score is a number determined from items in your credit report, such as payment history, collections, length of credit history, and credit utilization.
GEICO uses your insurance score, in conjunction with many other factors, to predict how likely you are to file a claim and/or how expensive those claims will be.
The insurance score predicts the likelihood of a future loss of an individual insurance policyholder or applicant; a credit score predicts the likelihood of future delinquency on credit accounts of a credit prospect or customer.
Having a good insurance score does not necessarily mean you are a good driver. However, research has shown that consumers with better insurance scores generally file fewer claims and have lower insurance losses. That is not to say that all people with low insurance scores are bad drivers.
Your insurance score is only one factor in our underwriting process. When you contact GEICO, we collect information about you, including your personal information (such as name, address, and date of birth), information about other people who drive your car, the driving history of each driver, and the number and types of cars you drive. You will never be denied a GEICO policy solely because of your insurance score.
All insurance companies base their premiums on how likely it is that a person will have an accident. Credit history, in conjunction with other factors including driving record, driving habits, type of car, etc., are used to determine the most appropriate rate. Your premium at GEICO will never be based solely on your insurance score.
Absolutely. If GEICO has taken an adverse action against you (such as offering you a higher rate) as the result of information contained in your credit report, you may obtain a copy of your credit report. If you believe there are errors in the report, you should immediately notify the consumer reporting agency.
Contact the consumer reporting agency directly and notify them of any discrepancy. Once they change it in their records, please contact us and we will be happy to re-evaluate your quote.
The following information is NOT used in any insurance score models: income, ethnic group, nationality, religion, gender, address, marital status, age, disability, or public assistance sources of income.
If your credit history has been impacted by an extraordinary event such as a medical crisis, temporary loss of employment, the death of a spouse or a household member, identity theft, the personal guaranty of a business loan, or a catastrophic event, we will take the special circumstance into consideration so it does not negatively impact your rate. We may require you to provide documentation of the special circumstance.
In order to maintain confidentiality we do not see the actual report. We receive an insurance score that relates a person's credit history to the likelihood of having an automobile accident. Our sales and service representatives do not have access to your insurance score. When GEICO requests your insurance score, the inquiry in your credit file will only be visible to you. If another entity views your credit report, they will not see the inquiry and it will not affect your credit score or credit rating.
They are Experian, Equifax, and TransUnion. Each bureau collects information on your accounts and payment habits from individual creditors. Some creditors report information to all three credit bureaus, while others may only report to one bureau.
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