The U.S. auto insurance marketplace is dominated by several key players, together with the ten biggest companies controlling roughly 71% of the market. Here we list all 10 auto insurers and recommend which might be best for you.
While these carriers underwrite a high number of coverages, they vary on cost, support quality and several different attributes. To assist you pick the very best insurance provider for your situation, we created a record of the 10 largest auto insurance companies in the U.S. and discussed what makes them unique.
What are the largest auto insurance companies?
When studying the rankings of the best auto insurance companies in the United States, the majority of the titles are recognizable because of their national television advertising campaigns.
The number one auto insurance carrier in the nation in terms of market share and premiums written is State Farm, followed closely by GEICO, Progressive and Allstate.
Here we list the top 10 biggest insurance companies in the U.S. and provide more detail about what you need to know about each of them.
1. State Farm:
State Farm is a great auto insurance company in the United States. and owns 16 percent of their total market share. Over 15% of dollars spent on passenger auto premiums at the U.S. is paid to State Farm.
The business currently employs about 60,000 workers and has almost 19,000 representatives. State Farm functions as a mutual insurance carrier, meaning it's owned by its policyholders.
One of the biggest widely accessible car insurance companies within this listing, State Farm provided the cheapest auto insurance prices in many portions of the U.S.
GEICO famous because of its commercials featuring an animated gecko, has functioned as an underwriter for over 16 million auto policies, which insure more than 24 million automobiles. The firm's size enables it to use over 40,000 people across nine regional offices, three service centers and three claims centers.
GEICO's unique customer base consisted of U.S. government employees and military employees. Nowadays, the insurance firm's client base has expanded to include men and women in the private industry.
According to our study of the largest car insurance carriers, GEICO is your ideal insurer for school students.
Progressive - the third-biggest insurance provider in the nation - has been created in 1937. The company delivers the capability to purchase auto insurance on site, on the internet or by telephone. Alternately, customers can join through independent insurance brokers.
The business employs more than 35,000 people and has over 400 offices. Progressive is a publicly traded business.
Established in 1931, Allstate is your most demanding publicly traded property and casualty insurance company in America. Comparable to State Farm, Allstate has a roster of local agents ready to serve your requirements. The company currently employs over 46,000 people.
Esurance, a subsidiary of Allstate, works in the exact same space. According to Allstate, the Esurance brand aims self-directed and brand-sensitive customers, while Allstate is targeted towards customers who enjoy local and personal service.
Inside this listing of the greatest auto insurance companies, Allstate is our pick for the best customer service.
USAA was set by 25 Army officers who made a decision to insure each other's vehicles in 1922. These days, the business serves a large number of members associated with the U.S. military, including current and former service members, including household of service associates, along with cadets or midshipmen.
USAA is headquartered in San Antonio. The corporate campus' length extends three-quarters of an interval. USAA is the biggest private company located in San Antonio.
Because of its attention on the U.S. armed forces, USAA is our best pick for the best and most affordable auto insurance for veterans and military service members.
6. Liberty Mutual:
Liberty Mutual is a great auto insurance company in the United States. and has been around for over 100 years, including a big global presence - with operations in 17 countries. The worldwide business sells property and casualty, health and life insurance policies.
Liberty Mutual's automobile insurance supplies can be retrieved through its call center, site, a regional Liberty Mutual broker or agent, or agents from its network of regional subsidiaries. 1 thing to notice regarding Liberty Mutual's policy is that prices are guaranteed for a year.
Farmers began as an insurance company providing coverage to farmers' cars. Ever since then it has evolved to become the seventh-largest insurance carrier in the country.
It's tough to find an insurance provider that offers more products than Farmers. It gives basic auto insurance, pet insurance and even investment products among an assortment of other insurance products. Farmers employs nearly 13,000 people, underwriting over 19 million policies around 50 countries.
Nationwide does business across several verticals - including financial services, commercial lines and personal lines - from all 50 U.S. nations. Nationwide has led over $430 million to nonprofit organizations since 2000.
Nationwide includes a motto known as"On Your Side" that influences the way auto insurance claims are managed, and how premiums and policies are determined. The company also recommends getting an annual checkup to make sure policyholders understand their benefits and declarations, in addition to new discounts or changes to keep premiums stable and coverage adequate. Nationwide calls for this particular appointment its"On Your Side" Review.
One of this listing of the largest auto insurance companies, Nationwide offers the best deals for customers looking to package their house and auto insurance policies.
9. American Family:
American Family was created with the first objective of insuring farmers. From the 1930s, the business expanded and began to focus on insuring non-farmers as well. These days, the business is one of the biggest insurance companies in the U.S., and the biggest insurer by market share from the state of Wisconsin.
The business is famous for its extensive discount catalog that may make its decent rates much more affordable for customers. However, American Family now underwrites coverages in just 17 nations.
Travelers is more than 160 years old, making it among the oldest insurance companies working today. In actuality, Travelers issued its first automobile insurance policy in 1897, prior to the Ford Model T was first invented.
The business has more than 30,000 employees and 13,500 independent brokers and agents in several countries - including the USA, Canada and Brazil. Especially, Travelers provides a rate pricing program called IntelliDrive, which decides your rates by assessing your safe driving behaviour with a smartphone app. Enrolling in IntelliDrive can potentially lower your annual insurance rates by up to 20% should you exhibit good driving habits.