Top 10 Car Insurance Companies in the US

Top 10 Car Insurance Companies in the US
Top 10 Car Insurance Companies in the US

You are residing in a time where expansion rates are simply kissing the sky, universally. You are not just putting your cash in the moveable or steady resources, yet your perspiration and blood as well. Your motorcar is the versatile resource that assists you with getting anyplace, be it across the road or the state. Along these lines, you want to guarantee your vehicle’s security first and We will examine how to find Car Insurance Companies.

Vehicle protection assumes a principal part in remunerating a monetary misfortune that you need to bear if there should be an occurrence of harming your vehicle or another individual’s vehicle or property in an auto crash. In such a circumstance, a vehicle proprietor tracks down a murmur of help on the off chance that he has guaranteed his vehicle with some best vehicle insurance agencies.

The best car insurance companies offer more than just coverage to their customers at a reasonable price. Only good companies can do this. On top of this, the best auto insurance companies provide the customer with a first-hand experience of making a claim, including freeways, a headache to manage. Make policies and payments. Today, we are going to cover the top car insurance companies in the United States.

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Top 10 Car Insurance Companies in the US list

RankCompanyPremiums written in billionsMarket share percentage
1State Farm$40.416%
2Geico$33.914%
3Progressive$33.213%
4Allstate$25.910%
5USAA$15.86%
6Farmers$12.25%
7Liberty Mutual$11.85%
8Nationwide$5.82%
9American Family$5.22%
10Travelers$4.92%

Now let us discuss the Top 10 Car Insurance Companies in the US list

1. State Farm
State Farm is the largest auto insurance company in the US and possesses 16% of the total available market share. Over 15% of dollars spent on private passenger auto premiums in the US is paid to State Farm. State Farm customers are not only the most satisfied with customer insurance claims but also report better overall satisfaction.

The company currently employs approximately 600employees and has nearly 190 agents. State Farm operates as a mutual insurance company,meaning that it’s owned by its policyholders. Among the largest widely available car insurers in this list, State Farm offered the cheapest car insurance rates in most parts of the US. That’s a wrap for the top ten auto insurance companies in the United States.

  • Average annual premium: $1,310
  • Market share: 16%
  • Premiums written: $40.4 bn
  • ValuePenguin rating: 4.5/5
  • J.D. Power customer satisfaction score: 892

2. Geico
Geico, well known for its advertisements featuring an animated Gecko, has served as an underwriter to more than 16 million auto policies, which ensure more than 24 million vehicles for many prices. King and little else matters if that describes you, Geico is worth checking out.

Charging $200 less per year on average than the next cheapest large insurer, State Farm. The company’s size allows it to employ more than 400 people across 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 people in the private sector. According to our research of the largest auto insurance carriers, Geico is the best insurer for College students.

  • Average annual premium: $1,917
  • Market share: 14%
  • Premiums written: $33.9 bn
  • ValuePenguin rating: 4/5
  • J.D. Power customer satisfaction score: 881

3. Progressive
The country’s third-largest auto insurance provider, Progressive offers insurance for just about anything with a motor. Progressive offers a lengthy slate of discounts and a wide range of coverage, including rideshare insurance and coverage for pets injured in a car accident.

The company offers the ability to purchase auto insurance in person, online, or by phone. Alternatively, customers can sign up through independent insurance agents. The company employs more than 350people and has over 400 offices.

Progressive is a publicly-traded company. Progressive had fewer than the expected number of complaints to state regulators relative to its size for auto insurance, according to three years’ worth of data from the National Association of Insurance Commissioners.

  • Average annual premium: $2,036
  • Market share: 13%
  • Premiums written: $33.2 bn
  • ValuePenguin rating: 3/5
  • J.D. Power customer satisfaction score: 862

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4. Allstate
Allstate Established in 1931, Allstate is the second-largest publicly traded property and casualty insurance company in America. Similar to State Farm, Allstate has a roster of local agents ready to serve your needs. The company currently employs more than 460 people. Assurance, a subsidiary of Allstate, operates in the same space.

According to Allstate, the Essuanced brand targets self-directed and brand-sensitive customers, while Allstate is geared towards customers who enjoy local and personal service. In this list of the biggest car insurance companies, Allstate is our pick for the best customer service.

  • Average annual premium: $2,349
  • Market share: 10%
  • Premiums written: $25.9 bn
  • ValuePenguin rating: 3/5
  • J.D. Power customer satisfaction score: 870

5. USAA
USAA is a great insurance company for members of the military community thanks to thecheap premiums and generous discounts the company offers withits auto, property and life insurance policies.Usaa was founded by 25 army officers whodecided to insure each other’s vehicles in 1922.Today, the company serves millions of membersassociated with the US military, including currentand former service members, family of servicemembers and cadets or mishapmen.

Ussa is headquartered in San Antonio.The corporate campus length extendsthreequarters of a mile. Usaa is the largest privatecompany located in San Antonio.Because of its focus on the US Armed Forces, USAA is our top pick for the best andcheapest car insurance for veterans and military service members.

  • Average annual premium: $1,170
  • Market share: 6%
  • Premiums written: $15.8 bn
  • ValuePenguin rating: 4.5/5
  • J.D. Power customer satisfaction score: 909

6. Liberty Mutual
Liberty Mutual is the fourth-largest property and casualty insurance company in the US and the 6th largest auto insurer, according to the Insurance Information Institute. The insurer offers products in all 50 States and provides policies for vehicles, residents, businesses, pets, and more.

The insurer is a mutual company, which means its policyholders are also considered shareholders. Liberty Mutual offers a wide range of insurance products, including auto, property, life, and other important options. The international company sells property andcasualty, health, and life insurance policies.

Liberty Metal’s auto insurance offerings can be accessed via its call center website, a local Liberty Mutual agent or broker, or representatives from its network of regional subsidiaries. One thing to note about Liberty Mutual’s coverage is that rates are guaranteed for a year.

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  • Market share: 5%
  • Premiums written: $11.8 bn
  • ValuePenguin rating: 3.5/5
  • J.D. Power customer satisfaction score: 876

7. Farmers
Farmers is the fifth largest home insurer and seventh-largest auto insurer in the country. It offers an array of other insurance products as well as financial products such as mutual funds and annuities. Farmers began as an insurance company providing coverage to Farmer’s vehicles. Since then, it has evolved to become the seventh-largest insurance company in the country.

It’s hard to find an insurance company that offers more products than farmers. It offers basic auto insurance, pet insurance, and even investment products among a variety of other insurance products. Farmers employ nearly 130 people underwriting more than 19 million policies across 50 States.

Farmers had fewer than the expected number of complaints to state regulators for auto and home insurance relative to its size, according to three years’ worth of data from the National Association of Insurance Commissioners.

  • Average annual premium: $2,521
  • Market share: 5%
  • Premiums written: $12.2 bn
  • ValuePenguin rating: 3.5/5
  • J.D. Power customer satisfaction score: 893

8. Nationwide
Nationwide does business across several verticals, including financial services, commercial lines, and personal lines. All 50 US States, nationwide have contributed more than $430,000,000 to nonprofit organizations since 2000.

Nationwide has a motto called On Your Side that influences how auto insurance claims are handled and how policies and premiums are determined. The company also recommends getting an annual checkup to ensure policyholders understand their benefits and decorations, as well as new discounts or changes to keep premiums steady and coverage adequate.

Nationwide calls this consultation its Your Side review. Among this list of the largest car insurance companies, Nationwide offers the best deals for customers looking to bundle their home and auto insurance policies.

  • Average annual premium: $2,127
  • Market share: 2%
  • Premiums written: $5.8 bn
  • ValuePenguin rating: 4/5
  • J.D. Power customer satisfaction score: 876

9. American Family
American Family was established with the initial goal of ensuring farmers. In the 1930s, the company expanded and began to focus on ensuring nonfarmers as well. Today, the company is one of the biggest insurance companies in the US and the largest insurer by market share in the state of Wisconsin.

The company is known for its extensive discount catalog that can make its already decent rates even more affordable for customers. However, American families currently underwrite policies in just 17 States. American Family is the nation’s 9th largest auto insurance seller and has fewer than the expected number of auto insurance complaints about a company its size.

The company also offers a wide selection of other insurance products. So if you like the convenience of bundling policies, American Family might be right for you. On the American Family Insurance website, you can find an agent, get a quote, pay your bill and report a claim.

  • Average annual premium: $1,755
  • Market share: 2%
  • Premiums written: $5.2 bn
  • ValuePenguin rating: 3.5/5
  • J.D. Power customer satisfaction score: 889

10. Travelers
Travelers is more than160 years old, making it one of the oldest insurance companies operating today. In fact, Travelers issued its first auto insurance policy in 1897, before the Ford Model T was invented. The company has more than 300 employees and13, 500 independent agents and brokers in multiple countries, including the United States, Canada, and Brazil.

It’s among the nation’s largest providers of home and auto insurance policies. Notably, Travelers offers a rate pricing program known as Intelli Drive, which determines your rates by assessing your safe driving behavior via a smartphone app.

Enrolling in Intelli Drive can potentially reduce your annual insurance rates by as much as 20%if you exhibit good driving habits. If you’re looking for an in-person experience with an agent and want to buy multiple products from one provider, Travelers might be a good fit.

  • Average annual premium: $2,148
  • Market share: 2%
  • Premiums written: $4.9 bn
  • ValuePenguin rating: 3.5/5
  • J.D. Power customer satisfaction score: 871

Top 10 Car Insurance Companies in the US ratings

To help you choose the best company for you, we compared the 10 largest auto insurance companies according to our editor’s rating, J.D. Power score and financial strength rating by AM Best.

CompanyEditor ratingJD PowerAM Best
USAA4.5 Star909A++
State Farm4.5 Star892A++
Geico4 Star881A++
Nationwide4 Star876A+
Farmers3.5 Star893A
American Family3.5 Star889A
Liberty Mutual3.5 Star876A
Travelers3.5 Star871A++
Allstate3 Star870A+
Progressive3 Star862A+

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