Save 50% or more on life insurance You could be saving on home insurance Buy and save on car insurance View car insurance quotes from our partners We don't sell your information to third parties. Policygenius content follows strict guidelines for editorial accuracy and integrity. Learn about our editorial standards and how we make money. There are thousands of licensed insurers in the United States, but the 10 largest insurance companies account for 74% of the auto insurance coverage market.
While these top auto insurance companies are all well-known, they have different costs, customer service ratings, and different coverage options. We've broken down their differences below. Compare rates and buy affordable car insurance today: Auto Club Insurance Association Read our full review of State Farm, which accounts for 16 percent of the entire auto insurance market, is the number one largest auto insurer in the country. The company was founded in 1922 and now has more than 18,000 agents in the United States.
In addition to being the largest company, State Farm is also one of the top companies in the U.S. UU. The company is one of the most affordable coverage options for young and older drivers, as well as for those who have previous incidents on their records. In addition to being one of the largest insurance companies in the U.S.
In addition to being the best insurance company for most people looking for low rates, GEICO is also a good choice for those who want an insurer with a convenient app. However, their customer service is close to the national average for auto insurers. Progressive is often an affordable alternative not only for car insurance, but also for motorcycle coverage and other products. Read our full review of Progressive The youngest of the biggest insurance companies, Progressive, was founded in 1937 as a specialized insurer for high-risk drivers.
Today, Progressive serves a wide range of drivers in all 50 states and in Washington, DC. Many types of vehicle owners can also get coverage with Progressive. Because the company has affordable options for motorcycle owners, renters and boats, among others, you can also get discounts for combining more than one line of coverage. Allstate has higher-than-average rates compared to the other larger auto insurance companies, but its local presence could make it attractive to some buyers.
Allstate was originally founded in 1931 by the company Sears as a way to sell auto insurance by mail. Today, Allstate has expanded to become a major auto insurance company with nearly 50,000 employees and an extensive network of local offices. While Allstate rates are more expensive than the average cost of coverage, buyers who want easy access to a physical office in their community are likely to be satisfied with the company. In addition, Allstate discounts and Drivewise's usage-based program allow some drivers to reduce the cost of coverage.
USAA is one of the best and cheapest insurance companies in the country for members of the military and their families. The USAA was founded in 1922 as a way to provide affordable insurance to members of the armed forces. That mission continues today, as the USAA still only offers coverage to active, reserve and retired members of the armed forces and their families. If you can get car insurance in USAA, you have access to one of the best (and cheapest) insurance companies.
Compared to the other larger companies, even GEICO USAA is the cheapest option for coverage. Satisfaction with the company's claims is also consistently higher than that of other major auto insurers. Power has placed USAA at the top of its claim satisfaction survey for years. USAA also receives few complaints from its policyholders about the service, even though the insurer does not have a large physical presence like the other major insurance companies on our list.
Liberty Mutual has a wide range of discounts that could result in substantial savings for some drivers. Liberty Mutual has been in business for nearly 112 years. It has grown from being an investment firm in New England to a multinational corporation that writes policies in every state and employs more than 45,000 employees. Liberty Mutual's weak point compared to other large auto insurance companies is its reputation for customer satisfaction.
Your level of claim satisfaction is lower than other major companies, although your local offices can make it easier to manage your policy if you prefer in-person service. Farmers Insurance has a great reputation for quality customer service, although its rates are more expensive than those of other large insurance companies. Read our full review on Farmers Insurance Farmers originally started out as an alternative way for farmers to get affordable insurance, but today the insurer has more than 19 million policies (and coverage isn't just for farmers anymore) in 10 million homes, along with more than 21,000 employees. Nationwide has affordable coverage compared to other large insurance companies, but its customer service is poor.
When it was discovered that farmers tended to drive more carefully than their urban counterparts, Nationwide was founded 96 years ago in Ohio as a way to provide farmers with economic coverage. Today, Nationwide is a Fortune 100 company with millions of policies in place and no longer just for farmers. Their main flaw? American Family only offers car insurance in 19 states (many of them in the central part of the country). Compared to the other major insurance companies on this list, the American Family market is much more limited.
Average rates and below average claim satisfaction make Travelers a mixed choice for many buyers. Travelers is the oldest company on our list of the largest auto insurance companies. It was founded in 1864, which means that the insurer has been issuing insurance policies since before the invention of the automobile. Despite their average rates, Travelers has lower than average claim satisfaction, according to J, D.
However, the insurer's rating for its claim satisfaction service is better than Allstate. State Farm is the number one auto insurance company in the U.S. State Farm is the largest auto insurance company in 31 states. GEICO is the largest in 10 states (including Washington, DC, DC).
Progressive is the largest insurer in nine states, and MAPFRE in only one, Massachusetts. On average, the largest insurance company takes up nearly 21% of the market in a state. However, in Washington, DC. By contrast, California's largest company, State Farm, has a market share of around 13%.
Consider the amount of coverage you need. While almost every state requires car insurance, the value of your car, the number of drivers in your home, and your location will influence how much coverage you should get. Once you know how much car insurance you need, you need to decide how much you can spend on coverage. Keep in mind that if you can pay the full premium for the year in advance, you may be eligible for a discount.
While the amount of insurance you need affects what you pay for, you don't need to choose between having enough protection or cheap coverage. Policygenius can help you compare the rates of the most popular insurance companies to ensure that you find the best rates in your area for the amount of coverage you want. We also recommend that you take out a full-coverage policy with comprehensive and collision protection, so that you don't have to pay for damage to your car yourself. However, if your deductible is more expensive than it would be to replace your car, you may just need less coverage.
Not all major insurance companies are listed on the stock exchange. Many, including State Farm, are private mutual funds, meaning they don't trade like regular stocks and ETFs. Progressive, Allstate and Travelers go public. You can get Berkshire Hathaway shares linked to GEICO performance, but GEICO itself isn't publicly traded like other companies.
America's Best Insurance Company Depends on What Drivers Need. Policygenius recommends that USAA be the best insurance company for those who qualify. For those who aren't affiliated with the military and can't get USAA coverage, GEICO is the best option for affordable rates, Amica is the best when it comes to customer service, and State Farm is best for younger or inexperienced drivers. USAA is generally the highest rated insurance company by J, D.
The insurer consistently scores the highest claim satisfaction scores in the country among the largest insurance providers. USAA also ranks high by A, M. The best for financial stability and you receive few complaints from your policyholders. Some airlines may be represented by subsidiaries or subsidiaries.
The rates provided are a sample of the costs. Policygenius uses external sources, such as government data, industry studies and reputable news organizations, to complement proprietary market data and in-house experience. Learn more about how we use and review external sources as part of our editorial standards. Senior Editor of the National Association of Insurance Commissioners & Team of car insurance experts licensed Monday through Thursday from 9 a.m.
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The final insurance policy premium for any policy is determined by the insurance company upon application. If you are using a screen reader and are having problems using this website, call 1-855-695-2255 for assistance. Chances are you can't name all the auto insurance companies out there, but you've probably heard of some of the biggest insurers, such as Allstate, Geico, Progressive, and State Farm. Together, these four companies represent more than half of the personal auto insurance market in the U.S.
You've probably also heard of the other companies that round out the top 10 list. Larger insurers may have advantages over smaller auto insurance companies, such as greater financial strength and stability, a wider network of agents and claims adjusters, 24-hour customer service, and better apps and websites. State Farm, the nation's largest auto insurance company, offers policies across the country, except for Massachusetts and Rhode Island. Coverage is sold exclusively by captive agents, meaning they only sell State Farm products.
However, if you don't want to work with an agent, you can get a quote online. There is also a mobile application that allows you to contact the roadside assistance service, file claims and view your insurance card. State Farm offers many other types of policies, such as insurance for renters, businesses, homes, boats, ATVs, and commercial cars. In some cases, discounts are available for drivers who purchase more than one type of policy.
Some customers in certain states may not be able to get a quote over the phone, but drivers in all states can get a quote through the Geico website, app, or a local Geico agent. In addition to auto insurance, Geico offers general liability coverage and insures motorcycles and off-road vehicles. Auto insurance discounts are available to customers who purchase other policies, such as home insurance, from companies that have partnerships with Geico. Progressive auto insurance policies are available in all 50 states and in Washington, DC.
You can purchase coverage online, by phone, or through an agent. You can manage your policy with a mobile app and get help from a digital voice assistant through Google Home. In addition to auto insurance, Progressive sells general liability policies, commercial auto insurance, and coverage for other vehicles, such as boats and snowmobiles. Auto insurance discounts are offered to customers who purchase other policies, such as home insurance, from Progressive partner companies.
Allstate sells auto insurance and a wide range of other products through agents in all 50 states and in Washington, DC. You can find an agent or get a quote on the Allstate website; the company's mobile app allows you to manage your coverage, pay your bill and check claims. Discounts are available if you combine your car insurance with some of Allstate's other policies, or if you have a new car. Coverage is available for homeowners, renters, landlords, boats, businesses and more.
Travelers sells auto insurance through agents in 42 states and Washington, DC. Policies are available through agents or online. The company's website and mobile app allow you to pay bills, file claims, and contact your agent for help. NerdWallet calculated the average fees based on public statements obtained by the price analysis company Quadrant Information Services.
We examined the rates for men and women in their 40s for all zip codes in any of the 50 states and in Washington, DC. Property and accident insurance services offered through NerdWallet Insurance Services, Inc. OK9203 Property & Accident Licenses. In addition to auto insurance, Farmers sells general insurance, life insurance, homeowners insurance, renters insurance, business insurance, motorcycle insurance and more.
Travelers has an automatic score of 4.0 on Bankrate, thanks in part to this excellent financial strength and its coverage options. American Family ranks as the ninth largest auto insurance company in the country, even though it offers policies in less than half of the U.S. In addition to auto insurance, USAA sells life insurance, supplemental policies, and insurance for homeowners, renters and homeowners. Originally founded 86 years ago as an insurance provider for federal employees, GEICO began selling auto insurance to the general public in 1974. The minimum coverage requirements for car insurance vary by state, so consider talking to a licensed insurance agent about the coverage you need and the additional options they offer.
When it comes to deciding if a big or small insurance company is better, it depends on your needs and what you want in an auto insurance company. When looking for a policy, it's smart to consider a wide range of options, from the largest auto insurance companies in the country to the smallest regional insurers, which may be a great fit for you. State Farm is a great auto insurance company for anyone who wants a local agent, a personalized experience, and cheaper than average rates. Among the largest and most widely available auto insurers on this list, State Farm offers the cheapest auto insurance rates in most parts of the U.S.
Using the most recent NAIC data collected by Triple-I, these are the 10 largest auto insurance companies in the U.S. It helps manage the creation of insurance content that meets the highest quality standards in terms of accuracy and clarity to help Bankrate readers search for complex information on home, auto and life insurance. The 10 largest auto insurers in the United States are Progressive, State Farm, Geico, Allstate, USAA, Liberty Mutual, Farmers, Travelers, Nationwide and American Family Insurance. Geico, known for its animated gecko ads, has insured more than 16 million auto policies, which insure more than 24 million vehicles.
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