The auto insurance market is dominated by a few major players in the United States, with the top 10 companies controlling nearly 72% of the market. We have listed the top 10 auto insurance companies below and recommend what may be best for you.
While these carriers guarantee a large number of policies, they differ in price, quality of service, and many other features. To help you choose the insurance company that best suits your situation, we have created a list of the 10 largest auto insurance companies in the United States and discussed what makes each one unique.
What are the largest auto insurance companies?
When looking at the rankings of the best auto insurers in the United States, most of the names are recognizable due to their national television ad campaigns.
The nation's leading auto insurer by market share and written premiums is State Farm, followed by Geico, Progressive and Allstate.
1. State farm
State Farm is a great auto insurance company for anyone who wants a local agent, personal experience, and lower-than-average rates.
State Farm is the largest auto insurance company in the United States and holds 16% of the total available market share. More than 15% of the dollars spent on private passenger car premiums in the United States are paid to State Farm.
The company currently employs approximately 60,000 employees and has approximately 19,000 agents. State Farm operates as a mutual insurance company, which means it is owned by its policyholders.
Among the largest and most widely available auto insurance companies on this list, State Farm offers the cheapest auto insurance rates in most of the United States.
2. Geico
We consider Geico to be one of the best auto insurance companies. Geico offers low prices, local availability, and an easy shopping experience.
Geico, best known for his ads showing a moving gecko, has acted as guarantor for more than 16 million auto insurance policies, insuring more than 24 million cars. The size of the company allows it to employ more than 40,000 people in nine regional offices, three service centers and three claims centers.
Geico's original customer base consisted of US government employees and military personnel. Today, the insurance company's customer base has expanded to include individuals from the private sector.
Based on our search for the largest auto insurance companies, Geico is the best insurance company for college students.
3. Progressive
Progressive offers competitive prices, especially for drivers who have been in a previous accident. However, the claims satisfaction ratings and coverage options are average.
Progressive, the nation's third-largest insurance company, was founded in 1937. The company offers the ability to purchase auto insurance in person, online, or over the phone. Alternatively, clients can register through independent insurance agents.
The company employs more than 35,000 people and has more than 400 offices. Progressive is a public limited company.
4. Allstate
Generally, Allstate has better than average claim satisfaction rates, but higher rates. However, the insurance company offers a variety of discounts that can make policies more affordable for customers.
Founded in 1931, Allstate is the second largest property and casualty insurance company in the United States. Like State Farm, Allstate has a list of local agents ready to serve your needs. The company currently employs more than 46,000 people.
Esurance, a subsidiary of Allstate, operates out of the same location. According to Allstate, the Esurance brand targets self-directed and brand-sensitive customers, while Allstate targets customers who enjoy local and personal service.
On our list of the largest auto insurance companies, Allstate is our pick for the best customer service.
5. USAA
USAA is one of the leading auto insurance companies in the country. If you meet their qualification criteria, you will enjoy extremely competitive rates, excellent customer service, and quick responses to complaints. The only downside is the USAA membership restriction.
The USAA was founded by 25 Army officers who decided to insure each other's vehicles in 1922. Today, the company serves millions of members associated with the US Army, including current and former service members, service members. of the family in service, cadets and sailors.
USAA is based in San Antonio. The company's campus is three-quarters of a mile long. USAA is the largest private company located in San Antonio.
Given its focus on the United States Armed Forces, USAA is our best option for getting the best and cheapest auto insurance for veterans and military service members.
6. Liberty Mutual
Liberty Mutual's rates vary by location more than the typical insurer, and customers rate the company's claims satisfaction process below average.
Liberty Mutual is one of the largest insurers in the United States and has been around for more than 100 years, including a significant international presence, with operations in 17 countries. The international company sells property, casualty, health and life insurance policies.
Liberty Mutual auto insurance offerings can be accessed through a call center, website, local Liberty Mutual agent or broker, or representatives of its network of regional subsidiaries. One thing to note about Liberty Mutual coverage is that the prices are guaranteed for one year.
7. Farmers
Farmers offer good discounts, coverage options, and excellent customer service. However, uncompetitive farm prices can be prohibitively expensive for some buyers.
Farmers started out as an insurance company that provided coverage for farmers' cars. Since then, it has become the seventh largest insurance company in the country.
It is difficult to find an insurance company that offers more products than farmers. It offers basic insurance for cars, pets, and even investment products among a variety of other insurance products. Farmers employ nearly 13,000 people and subscribe to more than 19 million documents in 50 states.
8. Nationwide
Nationwide it is below average for affordability, and customer ratings tend to be negatively biased. Nationwide offers the standard coverage and discounts you'd expect from a major national insurer.
Nationwide operates in many industries, including financial services, business lines and personal lines, in all 50 US states Nationwide has contributed more than $ 430 million to nonprofits since 2000.
Nationwide has a slogan called "On Your Side" that influences how auto insurance claims are handled and how policies and premiums are defined. The company also recommends an annual review to make sure policyholders understand its benefits and announcements, as well as new deductions or changes to keep premiums stable and adequate coverage. Nationwide, this notice says a review is "yours."
Among this list of the largest auto insurance companies, Nationwide offers the best deals for customers looking to build auto and home insurance policies.
9. American family
American family is a solid option for auto insurance. The company offers affordable rates, which are probably great when policyholders use some of the many discounts.
The American family was founded with the primary goal of insuring farmers. In the 1930s, the company expanded and began to focus on non-farmer insurance as well. Today, the company is one of the largest insurance companies in the United States and the largest insurer by market share in the state of Wisconsin.
The company is known for its extensive catalog of discounts that can make its really decent prices affordable for customers. However, American Family is currently only insuring policies in 17 states.
10. Travelers
Moderate complaint ratings and a variety of discounts make travelers a good choice for auto insurance coverage.
Travelers are over 160 years old, making it one of the oldest insurance companies operating today. In fact, travelers issued their first auto insurance policy in 1897, before Ford invented the Model T.
The company has more than 30,000 employees and 13,500 independent agents and brokers in various countries, including the United States, Canada and Brazil. In particular, Travelers offers a pricing program known as IntelliDrive, which sets its rates by evaluating safe driving behavior through a smartphone app. Enrolling in IntelliDrive can reduce your annual insurance rates by up to 20% if you demonstrate good driving habits.
Choosing the right insurer for you
Among all the great auto insurance companies out there, it is still important to choose the company that is best suited to your particular situation. We always recommend comparing quotes from various insurance companies to find affordable rates that match your profile and driving record.
The type of auto insurance policy you choose, whether it be minimum or full coverage, will affect your quote, so it helps to get a general idea of the coverage you want before getting one.
- The minimum vehicle insurance is determined by the minimum automobile insurance requirements in your state.
- Comprehensive auto insurance coverage adds comprehensive coverage and collision protection to your policy to protect you from physical damage to your vehicle.
We generally suggest that all drivers consider purchasing comprehensive auto insurance, especially if your vehicle is valued at more than $ 3,000.
A quick and easy way to compare various auto insurance rates is to use our tool. You can start by entering your zip code below.
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