According to data from the National Association of Insurance Commissioners, the leading 10 auto insurance companies comprise well-known names such as State Farm, Geico, Progressive, and seven others. Collectively, these companies hold more than 70% of the personal auto insurance policy market.
Over the last decade, the primary players in the auto insurance industry have remained relatively constant, with State Farm consistently dominating the market. Below is a summary of the top 10 largest car insurance companies, detailing their market share, available coverage options, and customer service track record.
Table of Contents
1. State Farm :
State Farm is one of the largest auto insurance companies in the United States, with a market share of over 16%. The company was founded in 1922 and has since grown to offer a wide range of insurance products, including auto, home, and life insurance. State Farm offers several types of auto insurance coverage, including liability, collision, and comprehensive coverage.
They also offer optional coverage options such as rental car reimbursement, emergency roadside service, and uninsured/underinsured motorist coverage. One notable feature of State Farm’s auto insurance is its Drive Safe & Save program, which rewards safe drivers with discounts on their premiums.
This program uses telematics technology to monitor driving behavior, such as speed, acceleration, and braking, and adjust premiums accordingly. In terms of customer service, State Farm has a solid reputation and has consistently received high ratings from organizations such as J.D. Power and Consumer Reports.
They offer 24/7 customer support and have a mobile app that allows customers to manage their policies, file claims, and more. Overall, State Farm is a reputable auto insurance provider with a long history of serving customers. With a variety of coverage options, discounts, and a strong customer service track record, they are a popular choice for many drivers in the United States.
Specialties and Ratings:
The company has a market share of 16%, according to available data. It has received a rating of 4.1 out of 5 stars from WalletHub editors and a rating of 4.2 out of 5 stars from J.D. Power. In 2021, the company wrote premiums worth $41.7 billion. It operates in 48 states and the District of Columbia.
2. Geico :
GEICO (Government Employees Insurance Company) is an American auto insurance company that was founded in 1936. The company is headquartered in Chevy Chase, Maryland, and, is a subsidiary of Berkshire Hathaway.
GEICO is one of the largest auto insurance providers in the United States, serving over 28 million customers across all 50 states and the District of Columbia. In addition to auto insurance, GEICO offers other types of insurance, including home, renters, life, and business insurance.
GEICO is known for its advertising campaigns, which feature a gecko and various other characters. The company offers a range of discounts to its customers, including safe driver discounts, multi-policy discounts, and discounts for military personnel and federal employees.
GEICO also offers a mobile app that allows customers to manage their policies, pay their bills, and file claims. According to J.D. Power’s 2021 U.S. Auto Insurance Study, GEICO ranks highest among large insurers in overall customer satisfaction for the eighth consecutive year. As of 2021, GEICO wrote $41.7 billion in premiums, making it the second-largest auto insurance company in the United States, behind State Farm.
Specialties and Ratings:
According to available data, the company has a market share of 14.4%. It has received a rating of 4.4 out of 5 stars from WalletHub editors and a rating of 4.2 out of 5 stars from J.D. Power. The company wrote premiums worth $37.4 billion in 2021. It operates in all 50 states and the District of Columbia.
3. Progressive :
Progressive is an American auto insurance company founded in 1937.
The company is headquartered in Mayfield Village, Ohio, and, is one of the largest providers of car insurance in the United States. In addition to auto insurance, Progressive offers home, renters, and life insurance, as well as commercial auto insurance and other business insurance products.
Progressive is known for its innovative approach to insurance, including its Snapshot program which uses telematics to track driving behavior and offer discounts to safe drivers. The company offers a range of discounts to its customers, including safe driver discounts, multi-car discounts, and discounts for bundling policies. Progressive has a mobile app that allows customers to manage their policies, file claims, and access roadside assistance.
According to J.D. Power’s 2021 U.S. Auto Insurance Study, Progressive ranks fourth among large insurers in overall customer satisfaction. In 2021, Progressive wrote $42.8 billion in premiums, making it the third-largest auto insurance company in the United States, behind State Farm and GEICO. Progressive is also known for its advertising campaigns, which feature the character Flo and various other characters.
Specialties and Ratings:
According to available data, the company has a market share of 13.8%. It has received a rating of 3.7 out of 5 stars from WalletHub editors and a rating of 4.1 out of 5 stars from J.D. Power. The company wrote premiums worth $35.9 billion in 2021. It operates in all 50 states and the District of Columbia.
4. Allstate :
Allstate is one of the largest and most well-known automobile insurance providers in the United States. The company was founded in 1931 and is headquartered in Northbrook, Illinois.
Allstate offers a range of auto insurance policies to customers, including liability coverage, collision coverage, comprehensive coverage, and personal injury protection. Customers can choose the level of coverage that best suits their needs and budget. In addition to basic coverage options, Allstate offers a variety of add-on features and benefits to customers.
For example, they provide roadside assistance, which can be helpful if your car breaks down on the road. Allstate also offers rental reimbursement coverage, which can help cover the cost of a rental car while your vehicle is being repaired after an accident.
Another feature that sets Allstate apart is its accident forgiveness program. With this program, customers who have been with Allstate for a certain amount of time without any accidents can have their first accident forgiven. This means that their rates won’t go up as a result of the accident, which can be a huge relief for drivers. Allstate also provides a variety of tools and resources to help customers stay safe on the road.
For example, their Drive wise program tracks driving habits and provides feedback to help drivers improve their skills and reduce the risk of accidents. Allstate also has a mobile app that allows customers to manage their policies, file claims, and access other helpful features on the go.
Overall, Allstate is a well-established and reputable auto insurance company that provides a range of coverage options and benefits to customers. Their focus on personalized service and support, as well as their commitment to safety and accident prevention, makes them a popular choice for many drivers.
Specialties and Ratings:
Allstate has a market share of 10.4% and has received a 2.9 out of 5 stars rating from WalletHub’s editors. However, they have received a higher rating of 4.1 out of 5 stars from J.D. Power. In 2021, Allstate wrote $27.2 billion in premiums. They offer services in all 50 states and the District of Columbia.
5. USAA :
USAA is a leading provider of auto insurance in the United States, offering coverage to current and former members of the military and their families. The company was founded in 1922 and is headquartered in San Antonio, Texas. Here’s some more information about USAA auto insurance:
USAA offers a range of auto insurance policies, including liability coverage, collision coverage, and comprehensive coverage. They also provide personal injury protection, uninsured and underinsured motorist coverage, and roadside assistance. Customers can choose the level of coverage that best fits their needs and budget.
One of the unique features of USAA auto insurance is its accident forgiveness program. This program allows customers to have one at-fault accident forgiven every five years without their rates going up. USAA also offers rental reimbursement coverage and glass coverage, which can be helpful if your car needs to be repaired after an accident.
USAA has consistently received high ratings from independent rating agencies. For example, they have an A++ rating from A.M. Best, which is the highest possible rating. USAA has also received high ratings from J.D. Power for its customer satisfaction and claims handling.
In addition to auto insurance, USAA offers a range of other financial services to its members, including banking, investing, and retirement planning. Members can access these services through USAA’s website or mobile app, which provides a convenient way to manage their finances on the go.
Overall, USAA auto insurance is a top-rated option for military members and their families. Their focus on providing personalized service and support, along with their commitment to quality coverage and financial services, has made them a trusted choice for many customers.
Specialties and Ratings:
This insurance company has a market share of 6%, a WalletHub Editor’s rating of 3.5 out of 5 stars, and a J.D. Power rating of 4.4 out of 5 stars. They wrote $15.7 billion in premiums in 2021 and offer services in all 50 states and the District of Columbia.
6. Liberty Mutual :
Liberty Mutual is a large insurance company that offers a range of insurance products, including auto insurance. The company was founded in 1912 and is based in Boston, Massachusetts. Liberty Mutual is currently one of the largest property and casualty insurance providers in the world.
Here are some key features of Liberty Mutual auto insurance:
Coverage options: Liberty Mutual offers a range of coverage options for auto insurance, including liability, collision, comprehensive, personal injury protection (PIP), and uninsured/underinsured motorist coverage. Discounts: Liberty Mutual offers a variety of discounts that can help you save on your auto insurance premiums.
Some of the discounts available include safe driver discounts, multi-car discounts, and discounts for taking a defensive driving course. Customer service: Liberty Mutual has a strong reputation for customer service, and the company offers a variety of resources to help customers manage their policies and file claims. These resources include an online portal, a mobile app, and a 24/7 claims hotline. Financial strength:
Liberty Mutual has a strong financial rating from rating agencies such as A.M. Best, which indicates that the company is financially stable and able to pay claims. It’s always a good idea to compare multiple insurance companies and policies to find the one that’s right for you. I hope this information is helpful as you consider your options for auto insurance!
Specialties and Ratings:
The company holds a market share of 5.1% and has been rated 3.2 out of 5 stars by WalletHub Editors, while J.D. Power has given them a rating of 4.1 out of 5 stars. In 2021, they have written premiums worth $13.3 billion and are providing services in all 50 states as well as the District of Columbia.
7. Farmers Insurance :
Farmers Insurance is a large insurance company that offers a range of insurance products, including auto insurance. The company was founded in 1928 and is based in Los Angeles, California. Farmers Insurance is currently one of the largest property and casualty insurance providers in the United States.
Here are some key features of Farmer’s auto insurance in Alaska and Hawaii:
Coverage options: Farmers offers a range of coverage options for auto insurance, including liability, collision, comprehensive, personal injury protection (PIP), and uninsured/underinsured motorist coverage.
Discounts: Farmers offers a variety of discounts that can help you save on your auto insurance premiums. Some of the discounts available include safe driver discounts, multi-car discounts, and discounts for taking a defensive driving course.
Customer service: Farmers has a strong reputation for customer service, and the company offers a variety of resources to help customers manage their policies and file claims. These resources include an online portal, a mobile app, and a 24/7 claims hotline.
Additional services: Farmers also offer additional services, such as roadside assistance and rental car coverage, to help you stay protected on the road. In Alaska and Hawaii specifically, Farmer’s auto insurance may have different coverage options, rates, and discounts available depending on your location and other factors. It’s always a good idea to speak with a local agent to get more information about the specific policies and services available in your area. I hope this information is helpful as you consider your options for auto insurance in Alaska and Hawaii!
Specialties and Ratings:
- 4.8% market share
- WalletHub 3.0/5 stars from the editors
- J.D. Power: 4.1 out of 5 stars
- Premiums for 2021: $12.4 billion
- Except for Alaska and Hawaii, all states are served.
8. National Wide :
Nationwide has received high marks from the NAIC as well as the Better Business Bureau, among other organizations, indicating that it is a dependable and stable firm. Nationwide not only provides a wide range of insurance alternatives in addition to vehicle coverage, but it also offers a reasonably quick claims procedure and an online interface that allows clients to manage their policies.
Despite having been among the collecting payments in the US, Nationwide does not write coverage in Alaska, Hawaii, Louisiana, or Massachusetts. Read through WalletHub’s Nationwide insurance analysis to discover more.
- 2.1% share in the market
- WalletHub Editors’ Choice: 2.9/5 stars
- J.D. Power: 4.1 out of 5 stars
- Premiums for 2021: $5.6 billion
- Except for LA, MA, AK, and HI, all states are served.
9. American Family :
American Family exclusively offers insurance in 18 states, but some of its major rivals write insurance across the country. But, depending on where it’s offered, American Family is a solid alternative for clients searching for a variety of savings and a simple complaints procedure.
Check out WalletHub’s American Family Insurance review to discover more.
- 2.1% market share
- WalletHub Editors’ Rating: 4.3/5
- J.D. Power Rating: 4.2 out of 5 stars
- $5.5 billion in premiums written in 2021
- AZ, CO, GA, IA, ID, IL, IN, KS, MN, MO, ND, NE, NV, OH, OR, SD, WA, and WI are among the states served.
10. Travelers Insurance :
Although having a lesser market share than some of its competitors, Travelers nonetheless provides several specialty insurance products as well as many discounts to consumers. Travelers also feature an easy-to-use consumer site and a straightforward online claims procedure.
According to NAIC ratings, Travelers has fewer client service issues about company size :
- 2% market share
- WalletHub Editors’ Choice: 4.2/5 stars
- J.D. Power: 4.1 out of 5 stars
- Premiums for 2021: $5.3 billion
Served States: All 50 states and the District of Columbia are served.
While analyzing the best ten automobile insurance providers, it is critical to consider factors such as client happiness and financial soundness. Every year, J.D. Power researches to determine how satisfied clients can be with particular insurance providers; those of us with better ratings have more satisfied customers.
AM Best grades firms based on their capacity to pay off complaints for economic security; lower scores indicate that the company does not have the greatest creditworthiness and might not be as trustworthy in paying claims to its consumers.
Our editor assessment considers those numbers, but also factors such as the firm’s discount, coverage options, and total cost.
How to Choose the Best Insurance Company for You :
1. Search around for insurance coverage.
Before you buy a policy, you should seek quotations from at least three different insurers. Comparison shopping is the greatest approach to ensure that you get the best value on coverage; your search should include a mix of major and regional insurers.
2. Evaluate your requirements.
Certain insurance providers provide more benefits and coverage alternatives than others, so it’s critical to ensure that an insurer has all of the things you require before signing up. For illustration, if you are concerned about the dependability of your vehicle, then may wish to select an insurer that provides auto repair protection or emergency assist protection as an insurance add-on in the event of an unexpected break.
3. Consider discounts.
Many of the major insurance providers provide a wide range of discounts to assist you in saving money on your premium. Even if one insurer may not have the third lowest rate, their discounts may make them the best choice for you.
Certain savings, including inter and inter discounts, are frequently automatically integrated into estimates. Nonetheless, you should investigate whether extra savings you may be eligible for in the future. Most of the biggest insurance firms, for example, provide an advanced driving discount to clients who finish an authorized program.