The top 10 auto insurance companies in the United States include State Farm, Geico, Progressive and seven other well-known companies, according to information from the National Association of Insurance Commissioners. Together, these 10 companies account for more than 70% of the personal auto insurance market. The top 10 auto insurance companies have remained relatively unchanged for the past decade, with State Farm consistently maintaining the largest market share. In this article, we will provide an overview of each of the 10 largest auto insurance companies, including their market share, coverage options, and customer service history.
State Farm is the number one auto insurer in the U. S., with a 16% market share in auto insurance. The company sells policies online and through agents across the country, and coverage is currently available in every state except Massachusetts and Rhode Island. In addition to auto insurance, State Farm offers policies for motorcycles, boats, motorhomes and properties.
For more information, see WalletHub's State Farm insurance review.Geico insurance has several benefits for policyholders, including 24-hour customer service. The company also offers a wide variety of discounts that make it a popular option, and it now covers more than 18 million customers across the country. Drivers have the option of buying their coverage online, over the phone, or through an agent, and the company's online portal makes managing a policy relatively simple. Geico has an A+ rating from the Better Business Bureau (BBB), which considers factors such as company transparency and customer complaints.
For more information, see WalletHub's Geico insurance review.Progressive offers a wide variety of coverage types and discounts that make it a popular option. The company has an A+ rating from the BBB and has a relatively simple claims process. In addition, Progressive has an online portal that makes it easy for customers to manage their policies. For more information, see WalletHub's Progressive insurance review.Allstate has a lower than average NAIC rating, meaning it has received more customer complaints than other insurance companies of comparable size.
However, Allstate has an A+ rating from the BBB, indicating its overall reliability. For more information, see WalletHub's Allstate insurance review.USAA's share of the auto insurance market is impressive considering it only sells policies to military service members, veterans and their families. Despite its limited customer base, USAA offers some of the best prices for eligible customers as well as a wide range of discounts that allow some policyholders to save even more. However, WalletHub's analysis found problems with USAA's customer service and the company only has a B+ rating from the BBB.
For more information, see WalletHub's USAA insurance review.Liberty Mutual's NAIC customer complaint rating is above average but it has received an A+ rating from the BBB, indicating its overall reliability. For more information, see WalletHub's Liberty Mutual insurance review.Farmers Insurance offers a wide range of coverage options and discounts that make it a popular option for customers looking for affordable rates. For more information, see WalletHub's Farmers Insurance review.Nationwide has earned strong ratings from both the NAIC and the BBB making it a reliable and stable company. Not only does Nationwide offer a wide variety of insurance options in addition to auto coverage but also has a relatively simple claims process and an online portal that makes it easy for customers to manage their policies.
However, Nationwide does not issue policies in Alaska, Hawaii, Louisiana or Massachusetts. For more information, see WalletHub's Nationwide insurance review.American Family only sells policies in 18 states while several of its main competitors offer policies across the country. When available though American Family is a good option for customers looking for a wide range of discounts and a simple claim process. For more information see WalletHub's American Family Insurance review.Travelers has a lower market share than some of its competitors but continues to offer a variety of specialized insurance options and various discounts for customers to take advantage of.
In addition Travelers has an easy-to-navigate customer portal and a simple online claim process. When it comes to customer service Travelers has fewer complaints about its size according to NAIC ratings. For more information see WalletHub's Travelers Insurance review. When shopping for car insurance you should get quotes from at least three different insurers before buying a policy.
Comparing prices is the best way to ensure that you find the best coverage offer and you should include a mix of national and regional insurers in your search. Some insurance companies offer more benefits and coverage options than others so it's important to make sure the insurer has all the features you need before you sign in. Most major insurance companies offer a wide variety of discounts to help you save on your premium so even if an insurer doesn't offer the lowest base rate their discounts may make it the best option for you. Some discounts such as discounts for multiple vehicles and policies are usually included automatically in quotes but you should check what additional discounts you can opt for in the future.
The most popular auto insurance companies are State Farm Geico and Progressive which offer more than 120 million policies and have a combined market share of 43.1%. These companies are available in all 50 states and District of Columbia. Geico is the insurance company with highest customer satisfaction according to WalletHub's analysis which takes into account factors such as J D Power's NAIC customer satisfaction ratings complaint index and J D Power's overall satisfaction score with insurers. Just remember that customer service isn't everything affordable rates coverage options and discounts available are also factors to consider when buying car insurance.