State Farm, which is not only the largest auto insurance provider in the country but also holds 16% of the market share, dominates the market for automotive insurance in the United States. State Farm handles most of the revenue generated by car insurance in the United States. They established State Farm in 1922, and the same workforce continues to own and run the company today. According to the most recent data from the National Association of Insurance Commissioners, State Farm issued premiums totaling $40.4 billion, approximately $7 billion more than GEICO, the second-largest insurer in the United States.
The top 10 auto insurance companies brought in a combined total of $184 billion in premiums written in 2020, the most recent year for which data is currently available. The industry issued premiums totalling $250 billion during the same year. The most well-known auto insurance providers brought in 74% of this total.
Liberty Mutual Car Insurance
Liberty Mutual’s rates vary by location more than the average insurance company’s rates, and customers rate the company’s claims process below average.
Market share: 5%
$15.3 billion in premiums were paid.
J.D. Power’s customer satisfaction score for Penguin is 819, which is 3.5 out of 5.
Could you read our full review of Liberty Mutual?
Liberty Mutual has been around for over 100 years and is one of the biggest insurance companies in the U.S. It also has a significant presence worldwide. It has businesses in 29 countries. The company sells more than just car insurance. It also sells policies for property and casualty, health, and life.
You can get auto insurance from Liberty Mutual through the company’s call centre, website, local agent or broker, or someone from the company’s network of regional subsidiaries. After you sign up with Liberty Mutual, your rates are guaranteed for a year.
Liberty Mutual car insurance quotes
Liberty Mutual’s car insurance is more expensive than its competitors, and customers give it different ratings based on how happy they are with the service. Quotes for auto insurance from Liberty Mutual were between 21 and 36 percentage points higher than the norm for liability-only insurance and full coverage.
If a driver has an accident on their record, for which they were at fault, the premiums they pay to Liberty Mutual will be 53% higher than those paid by drivers who have never been in an accident. In contrast, Traveler’s Insurance only increases premiums by 23% following an accident.
Farmers auto insurance
Farmers have good discounts and coverage options, and their customer service is very well-rated. But the prices at Farmers may need to be lowered for some shoppers.
Average price per month: $231
Market share: 4%
$13.2 billion in premiums were paid.
J.D. Power’s customer satisfaction score for Penguin is 815, which is 3.5 out of 5.
Could you read our full review of Farmers?
Farmers started as an insurance company that covered the vehicles of farmers. Since then, it has come to become the seventh-largest insurance company in the country.
Farmers offer more products than almost any other insurance company. It offers insurance for cars, pets, investments, and other types of insurance. Farmers has almost 21,000 employees and sells more than 19 million insurance policies in all 50 states.
How expensive is Farmer’s car insurance compared to other companies?
Farmers Insurance Group is the seventh largest car insurance provider in the United States. Farmers fall roughly in the middle of the affordability spectrum for most different driver profiles. On average, Nationwide’s auto insurance quotes were more expensive than Farmers’ quotes. Still, they were more expensive than those provided by Geico and State Farm. Comparing insurance quotes from several providers is best if you are selecting one of these four insurance companies.
Travellers auto insurance
Travellers is a good choice for auto insurance because it has good complaint ratings and a lot of discounts.
$146 is the average monthly premium
Market share: 3%
$8.3 billion in premiums were paid.
J.D. Power’s customer satisfaction score for Penguin is 829, which is 3.5 out of 5.
Could you read our full review of Travelers?
Travellers are one of the oldest insurance companies still in business. It has been around for more than 160 years. Travellers sold its first auto insurance policy in 1897 before the Ford Model T was made.
The company has more than 30,000 employees and 13,500 independent agents and brokers in the US, Canada, and Brazil, among other places.
Nationwide auto insurance
Nationwide is an expensive car insurance option, but most customers are happy with the service they get. You’d expect a prominent national insurance company like Nationwide to offer the kinds of coverage and discounts you’d expect.
The average cost per month is $164
Market share: 2%
$7.2 billion in premiums were paid.
The J.D. Power customer satisfaction score for Penguin is 815, which is 4 out of 5.
Could you read our full review of Nationwide?
Nationwide has personal lines, business lines, and financial services in all 50 states. Since the year 2000, the corporation has contributed more than $585 million to various charitable organizations.
Nationwide’s slogan is “On Your Side,” It affects how insurance claims are handled and how policies and rates are set. The company also suggests that policyholders get a checkup once a year to ensure they understand their benefits and coverage and any new discounts or changes that could help keep their premiums low. This review is called the “On Your Side” review by Nationwide.
Nationwide is one of the best car insurance companies for customers who want to bundle their home and car insurance policies.
Nationwide auto insurance quote comparison
Nationwide’s estimates for auto insurance are much higher than what other big insurance companies charge. The premiums charged by State Farm, Geico, and Nationwide are lower than Allstate’s, which have the most expensive rates. But Allstate’s policy with the least coverage is less expensive than Nationwide’s.
Nationwide’s minimum coverage policy costs $556 a year, while a full coverage policy costs $1,555 yearly.
American Family auto insurance
When it comes to auto insurance, American Family is a good choice. The company has reasonable rates, which could be even better if policyholders took advantage of some of the discounts they offer.
Average price per month: $140
Market share: 2%
$5.8 billion in premiums were paid.
Penguin rating: 3/5 J.D. 838 is the customer satisfaction score for Power.
Please read our full review of the American Family.
American Family started as a way to protect farmers’ crops. In the 1930s, the company grew and started to pay more attention to insuring people who were not farmers. Today, the company is one of the biggest insurance companies in the United States, especially in Midwestern states like Wisconsin, Kansas, and Minnesota.
American Family is known for its many discounts, which can help customers pay even less for their rates. American Family works in 44 states, but only Connect by American Family is available in some states.
Estimates of the Cost of Car Insurance for an American Family
Even though American Family is not the cheapest auto insurance company we found, its rates are lower than the average for the whole country. It provides an extensive list of discounts that can help reduce costs. Amram’s minimum coverage insurance policy costs an average of $343 per year, while a full coverage policy costs an average of $1,156 per year.
American Family Insurance offers various discounts to help people save money. This makes the company’s already low rates even more attractive.
Auto Insurance FAQ
State Farm, the largest U.S. vehicle insurance firm, earned $4.2 billion in 2020. Following State Farm are GEICO, Progressive, Allstate, and USAA.
Not all leading insurers are public. State Farm is a private mutual fund. Publicly traded companies: Progressive, Allstate, and Travelers. GEICO isn't publicly listed like the other companies, but Berkshire Hathaway stock connected to its success is.
Drivers determine the finest American insurance business. If eligible, Policygenius suggests USAA. GEICO, Amica, and State Farm are the finest insurance companies for non-military drivers.
J.D. Power's insurance rankings place USAA in the first place. Most of the time, the biggest insurance companies in the country have the best ratings for how they handle claims. A.M. Best gives USAA top marks for its financial soundness and the satisfaction it provides to policyholders.
People Also Search For
top 10 auto insurance companies in USA,
preferred auto insurance companies in the USA,
top auto insurance companies in USA,
top car insurance companies in USA,
best car insurance in USA,
car insurance companies in USA,
top 10 car insurance companies in USA,
best car insurance companies in USA,
auto and home insurance companies in USA,
best auto insurance in USA,
top 5 auto insurance companies in USA,
international car insurance USA,