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 represent more than 70% of the market for personal auto insurance policies. The top 10 auto insurance companies have remained largely unchanged for the past decade, with State Farm consistently holding the largest market share. In this article, we'll provide an overview of each of the 10 largest auto insurance companies, including their market share, coverage options, customer service history and more.
State Farm is the largest private provider of passenger car insurance in the United States and holds 16% of the total available market share. The company sells policies online and through agents across the country, with coverage currently available in all states except Massachusetts and Rhode Island. In addition to auto insurance, State Farm offers policies for motorcycles, boats, motorhomes and properties. Geico insurance has several benefits for policyholders, including 24-hour customer service.
Progressive offers a wide variety of coverage types and discounts that make it a popular option, and the company now covers more than 18 million customers across the country. Drivers have the option of purchasing their coverage online, by phone or through an agent, and Progressive's online portal makes managing a policy relatively simple. The company also has an A+ rating from the Better Business Bureau. Allstate is rated lower than the NAIC average, meaning it has received more customer complaints than other insurance companies of a comparable size.
The 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 customer service and the company has only a B+ rating from the Better Business Bureau. Liberty Mutual's NAIC customer complaint rating is above average but it has received an A+ rating from the Better Business Bureau, indicating its overall reliability.
Farmers Insurance also has an A+ rating from the Better Business Bureau and offers a wide range of coverage options. Nationwide has earned strong ratings from both the NAIC and the Better Business Bureau, making it a reliable and stable company. Not only does Nationwide offer a wide variety of insurance options in addition to car coverage but its online portal makes it easy for customers to manage their policies. American Family only sells policies in 18 states while several of its major competitors issue policies across the country.
But if available, American Family is a good option for customers looking for a wide range of discounts and a simple claims process. Although Travelers has a lower market share than some of its competitors, it continues to offer a variety of specialty insurance options and several discounts for customers to take advantage of. In addition, Travelers has an easy-to-navigate customer portal and a simple online claims process. When choosing an auto insurance company, you should get quotes from at least three different insurers before purchasing a policy. Comparing prices is the best way to ensure that you find the best coverage offer and you should include a combination 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 that your insurer has all the features you need before signing up. 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 your discounts could make it the best option for you. Some discounts such as those for multiple vehicles or policies are usually automatically included in quotes but you should see what additional discounts you can opt for in the future. The most popular auto insurance companies are State Farm, Geico and Progressive which service more than 120 million policies and have a combined market share of 43.1%. These companies are available in all 50 states and the District of Columbia. The insurance company with the highest customer satisfaction is Geico according to WalletHub's analysis which takes into account factors such as customer satisfaction ratings, NAIC complaint rate and J.
D Power ratings. Remember that customer service isn't everything - affordable rates, coverage options and available discounts are also factors to consider when buying car insurance as they will also affect your overall experience.