The Best Largest Auto Insurance Companies (2023)

Spread the love

The largest businesses provide more reliability and a more comprehensive selection of coverage alternatives than the usual smaller insurance providers. But they differ in terms of pricing, quality of service, and a great many other qualities. Reviewing the list of the largest auto insurance companies in the United States and the characteristics that set each one apart is the first step in finding the right insurance provider for you.

The largest firms in the United States, which are listed below, each provide their customers with a unique experience when filing insurance claims and varying premiums and coverage options. When consumers are looking for low prices, we constantly advise them to compare the prices offered by several retailers to discover the most excellent deal.

Progressive Auto Insurance

Drivers who have been in accidents can get rates from Progressive that are especially low. But ratings for claim satisfaction and options for coverage are about average.

$156 is the average monthly premium

Market share: 14%

$44.5 billion in bonuses were paid.

Penguin rating: 3/5 J.D. 819 is the customer satisfaction score for Power.

Could you read our full review of Progressive?

Progressive was started in 1937 and is the biggest auto insurance company in the country. You can buy auto insurance from the company in person, online, or over the phone. Customers can also sign up with the help of independent insurance agents.

About 49,000 people work for the company, which has offices all over the country. Progressive is a company that is on the stock market.

Progressive auto insurance rates comparison

For the vast majority of driver profiles, Progressive’s rates are very close to the averages of its competitors. However, Progressive offers the most competitive premiums for drivers who have had incidents in the past. With Progressive, a policy costs $456 less than the next most reasonable alternative for drivers who have had accidents in the past. On the other hand, new drivers are likely to discover that the premiums provided by Progressive are at the upper end of the range. Their estimates for a driver aged 18 were the second least cheap among those we looked at.

State Farm car insurance

State Farm People looking for an auto insurance company that provides a local agent, a more individualized experience, and cheaper rates may consider State Farm. Rates that are lower than the norm.

The average cost per month is $99

Market share: 14%

$42.5 billion in premiums were paid.

Penguin rating: 4.5/5 J.D. 842 is the customer satisfaction score for Power.

Could you read our full review of State Farm?

State Farm is the second-largest vehicle insurance company in the United States and holds a market share of just under 14%.

The company has about 53,000 employees and nearly 19,000 agents at the moment. People who have insurance policies with State Farm are the ones who own the company because it is a mutual insurance company.

Out of all the major insurance providers included in this list, State Farm offers the most competitive auto insurance premiums across most of the United States.

More Post: KineMaster Pro MOD APK Download Without Watermark 2023

State Farm auto insurance coverage

Customers of State Farm can purchase all of the typical types of auto insurance coverage, such as liability insurance, coverage for uninsured and underinsured motorists, collision and comprehensive insurance, and personal injury protection.

In addition, it provides a few additional beneficial policy add-ons, including coverage for travel expenses and rental cars, as well as rideshare insurance.

Geico Auto Insurance 

Geico is one of the auto insurance companies with the lowest rates. It is available all over the country and makes shopping easy.

The average cost per month is $139

Market share: 13%

$39.1 billion worth of premiums were paid out.

Penguin rating: 4/5 J.D. 835 is the customer satisfaction score for Power.

Check out our full review of Geico.

Geico is known for its ads that show a moving gecko. The company has sold car insurance for more than 24 million vehicles through more than 16 million policies. Because of the company’s size, it can employ more than 43,000 people in 18 offices.

Geico’s first customers were people who worked for the U.S. government or were in the military. Today, insurance companies sell insurance to drivers all over the country, regardless of their car.

We’ve learned that Geico has the best car insurance for college students.

Geico auto insurance features, coverages, and discounts

For the most part, Geico’s options for auto insurance clients are comparable to those offered by other big automobile insurers like State Farm, Farmers, and Progressive. Geico is one of the nation’s largest auto insurers. The only exceptions to this rule are the Geico mobile app and the Prime Time Contract, an innovative program for drivers over 50.

Allstate car insurance

Most of the time, Allstate has higher rates but claims satisfaction ratings that are higher than average. But the insurance company offers many discounts to help customers pay less for their policies.

$195 is the average monthly premium

Market share: 9%

$28.4 billion in bonuses were spent.

Penguin rating: 3/5 J.D. 824 is the customer satisfaction score for Power.

Could you read our full review of Allstate?

Allstate is the second-largest property and casualty insurance company in the United States. It was founded in 1931. Allstate, like State Farm, has a list of local agents ready to help you. More than 54,000 people work for the company right now.

Allstate also operates Esurance. People who prefer the trustworthy brand of Allstate but are content to purchase and manage their insurance policies online may find Esurance a better option.

Allstate auto insurance quote comparison

Allstate is the most expensive option for most drivers compared to the other four major vehicle insurers in the United States. We noticed that the rates offered by Allstate for automobile insurance were around fifty percent higher than the typical rate offered by the most significant insurance providers in the United States. It was far more expensive than what State Farm charged.

USAA auto insurance

USAA is one of the best car insurance companies in the United States. The biggest problem with USAA is that only certain people can join.

The average cost per month is $91

Market share: 5%

$15.7 billion in premiums were paid.

Penguin rating: 4.5/5

The customer satisfaction score from J.D. Power is 881.

Could you read our full review of USAA?

In 1922, 25 Army officers in San Antonio came up with the idea to insure each other’s cars. This was the start of USAA. Today, the corporation provides services to millions of people related to the United States armed forces, including current and past service members, family members of service members, and cadets and midshipmen. The only people who are qualified to purchase insurance plans from USAA are those who have either served in the armed forces of the United States at some point in their lives or whose wives or parents have had USAA insurance at some point in their lives.

Because it only works with the U.S. military, USAA is highly recommended as the company that gives military veterans and active-duty service members the best and most affordable auto insurance.

USAA auto insurance coverage

USAA offers the kinds of coverage you would expect from an auto insurance company, such as liability, comprehensive, and collision insurance, which your state may require drivers to have. In terms of extra coverage choices, USAA provides a wide range of insurance options; nonetheless, the company only provides something that a customer would typically be able to acquire from a comparable national insurer.

The Best Largest Auto Insurance Companies

In terms of its total customer base, how large is your vehicle insurance company? You can get an idea of how the largest insurers stack up in market share for private passenger auto insurance by looking at the following chart.

ank Auto insurance company Market share %
1 State Farm 16.73
2 Allstate 9.88
3 Progressive 9.71
4 Geico (Berkshire Hathaway Inc. 9.49
5 USAA 6.41
6 Liberty Mutual 5.26
7 Farmers Insurance 4.43
8 Travelers 2.76
9 American Family Insurance 2.70
10 Nationwide 2.68
11 Erie Insurance 1.44
12 Auto Club Exchange 1.22
13 Chubb 1.10
14 CSAA Insurance Exchange 1.04
15 Kemper 1.03
16 MetLife 0.94
17 Mercury Insurance 0.89
18 The Hartford 0.77
19 Auto Club Insurance Association 0.73
20 Amica 0.61
21 COUNTRY Financial 0.59
22 The Hanover Insurance Group 0.52
23 Shelter Insurance 0.42
24 Universal Insurance Holdings Inc. 0.40
25 Southern Farm Bureau Casualty 0.38
26 AIG 0.38
27 NJM Insurance 0.37
28 The Cincinnati Insurance Cos. 0.36
29 Tennessee Farmers Insurance Companies 0.36
30 Alfa Mutual Group 0.36
31 Texas Farm Bureau Insurance 0.34
32 Tokio Marine 0.34
33 State Auto 0.34
34 Farm Bureau Financial Services 0.34
35 North Carolina Farm Bureau Insurance 0.30
36 Kentucky Farm Bureau 0.26
37 UPC Insurance 0.26
38 Plymouth Rock of New Jersey 0.25
39 Grange Insurance 0.25
40 Heritage Insurance 0.25
41 American National 0.24
42 Markel 0.24
43 Assurant 0.23
44 Westfield Insurance 0.22
45 Citizens Property Insurance Corp. 0.21
46 Munich Re 0.21
47 Michigan Farm Bureau 0.19
48 Plymouth Rock Co. 0.18
49 Safety Insurance 0.17
50 FEDNAT 0.17


Frequently asked questions

Spread the love

Leave a Comment