The top 10 auto insurance companies include State Farm, Geico, Progressive and seven other well-known companies, according to data from the Insurance Information Institute. Together, the top 10 companies account for more than 70% of the personal auto insurance market. The top 10 auto insurance companies have stayed pretty much the same for the past decade, and State Farm has consistently maintained the largest market share. Below is 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 largest provider of private auto insurance for passengers in the United States and holds 16 percent of the total available market share. The company sells policies online and through agents across the country. Coverage is currently available in every state, except Massachusetts and Rhode Island. In addition to auto insurance, State Farm offers insurance for motorcycles, boats, motorhomes and properties.
For more information, see WalletHub's State Farm insurance review. Geico has more than 18 million active auto policies, which insure more than 30 million vehicles across the country. In addition to private car insurance, Geico offers coverage for boats, motorcycles and all-terrain vehicles. New Geico customers also have the option of purchasing their policy with the help of an agent or directly online.
In addition, Geico insurance has several benefits for policyholders, including 24-hour customer service. 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, and the company 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.
In addition, Progressive has an “A+” rating from the Better Business Bureau, which considers factors such as company transparency and customer complaints. For more information, see WalletHub's progressive insurance review. In addition to auto insurance, Allstate also offers home, renters and motorcycle policies. For more information, see WalletHub's Allstate insurance review.
USAA's share of the auto insurance market is impressive, since 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. USAA has an NAIC rating of 1.28, indicating that it has received more complaints than the average similar-sized insurer.
For more information, see the WalletHub US insurance review. UU. While Liberty Mutual's customer complaint rating at NAIC is worse than average, the company has received an A+ rating from the Better Business Bureau, indicating its overall reliability. For more information, see WalletHub's Liberty Mutual insurance review.
For more information, see WalletHub's Farmers Insurance review. 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 auto coverage, but the company has a relatively simple claims process and an online portal that makes it easy for customers to manage their policies. While Nationwide is one of the largest insurers in the United States, it doesn't issue policies in Alaska, Hawaii, Louisiana, or Massachusetts.
For more information, see the WalletHub insurance review on Nationwide. American Family only sells policies in 19 states, while several of its main competitors offer policies across the country. However, when available, 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 review of American Family Insurance.
While Travelers has a lower market share than some of its competitors, the company 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 than most other insurers, according to NAIC ratings. For more information, see the WalletHub travel insurance review.
It's important to consider aspects such as customer satisfaction and financial stability when comparing the top 10 auto insurance companies. Power publishes a study every year that highlights how satisfied consumers are with their insurance company: those with higher scores have better customer satisfaction. Best rates companies according to their ability to pay claims; lower scores mean that the company does not have the best credit rating and may be less reliable in paying claims to its customers. Our editor's rating takes into account both metrics, but it also includes aspects such as the discounts offered by the company, the types of insurance available and the total cost.
As a general rule, 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. For example, if you're concerned about the reliability of your vehicle, you can choose an insurer that offers auto repair insurance or roadside assistance coverage as a supplement to the policy in the event of a sudden breakdown.
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. However, you should see the additional discounts you can opt for in the future.
For example, most major insurance companies offer a defensive driver discount to policyholders who complete an approved course. 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 the District of Columbia. Most popular car insurance companies Geico is the insurance company with the highest customer satisfaction, according to WalletHub's analysis of factors such as J, D.
Boosts NAIC's customer satisfaction rates and complaint index. Geico is also one of the top cheapest insurance companies. Average customer satisfaction rating ratings based on the WalletHub editor's review, the NAIC complaint index, and J, D ratings. Just remember that customer service isn't everything.
The affordable rates, coverage options, and discounts available are also factors to consider when buying car insurance. They will also affect your overall satisfaction. For more information, check out WalletHub's picks for the best auto insurance companies. The largest auto insurance companies in the United States Together, these 10 companies hold more than 70% of the auto insurance market share in the U.S.
As a result, it should come as no surprise that these companies tend to be the best choices for most types of drivers. The best car insurance companies by category The best car insurance for teens and young drivers The best car insurance for drivers with points The best car insurance for drivers with bad credit The cheapest full-coverage car insurance for more information. For more information, check out WalletHub's guides on the best car insurance and the largest auto insurers. As expected, two of the largest insurance companies are also among the three best car insurance companies.
Because of their size, they can offer affordable premiums and top-notch customer service. The 3 Best Auto Insurance Companies You can get the best car insurance rates by comparing quotes from several companies, taking advantage of discounts, and rethinking how much coverage you actually need. To start looking for the best car insurance rates, check out WalletHub's picks for the best car insurance companies in your state. How to get the best car insurance rates Since each auto insurance company calculates premiums differently, the easiest way to ensure you're getting the best possible rate is to compare quotes from several insurers.
In addition, you should compare the quotes every time you are going to renew your policy to make sure you don't overpay. While big car insurance companies may have great ads, they may not always offer the best rates. Be sure to consider smaller insurers when looking for coverage. WalletHub's list of the cheapest auto insurance companies is a good place to start looking for the best rates.
Car insurance discounts can help you save up to 35% on your premiums. Most insurance companies offer a wide variety of discounts, such as discounts for multiple policies and discounts for driving safely. At a minimum, you'll need to have the minimum amount of coverage required in your state and any coverage that your lender or landlord requires, if applicable. Beyond that, you can determine if the optional types of coverage are worth it.
In most states, auto insurance companies use “insurance scores” to help determine rates. Insurance ratings are based on information in the credit report and indicate how likely the driver is to file a claim. By increasing your credit score, which is based on the same information, you may be able to find better car insurance rates. The easiest way to make sure you're getting the best possible car insurance rates is to drive safely.
Speeding tickets, DUIs, and at-fault accidents can cause car insurance premiums to skyrocket. If you already have some traffic violations on your driving record, remember that they will only affect your rates for a few years. Meanwhile, taking a defensive driving course could also help minimize the impact on your premiums. Car insurance companies with the best rates For more information, see WalletHub's guide to reducing car insurance costs.
The Best Auto Insurance Companies for Full Coverage Full coverage car insurance generally refers to a policy that includes comprehensive and collision insurance, as well as any type of coverage required by state law. For more information, see WalletHub's guide to full-coverage car insurance and our picks of the cheapest full-coverage insurers. The best car insurance for new drivers under 25 years old Drivers under 25 tend to pay higher insurance premiums than older drivers, so options to reduce those high costs are especially important. When buying car insurance, new drivers under the age of 25 should consider their state's car insurance requirements, as well as the coverage they'll need to be fully protected on the road.
Then, they should look for discount opportunities. Many major insurance providers offer discounts that can help lower the cost of premiums for young drivers. Companies like Geico and Allstate offer good student discounts to drivers under 25 who maintain at least a B grade point average. Young drivers who take a driver education course or a defensive driving course are also entitled to savings.
Finally, some companies, such as Metromile and Esurance, offer usage-based car insurance policies that calculate premiums based on how much you drive. These policies can offer an affordable alternative for young drivers who don't drive often. The best car insurance for drivers with points is USAA, AAA and Progressive, according to the quotes for different types of drivers with points. Drivers with points for serious violations are considered high-risk, meaning that insurers believe they are likely to file a claim, so they will be charged more accordingly.
To find the best insurance for drivers with points, WalletHub commissioned quotes for a variety of crimes. All of these violations lead to a different number of points in each state, and these numbers represent the average of a wide range of locations. It's important to keep in mind that repeat offenses are even more alarming for insurance companies, since they indicate that the reform has not been carried out, so your rates are likely to be higher if you have a history of multiple violations that lead to points. The best car insurance for drivers with points, by type of violation Most states assign points to drivers who break traffic laws in all types of situations, from speeding to driving while intoxicated.
States will suspend driver's licenses for people with a certain number of points or, in some cases, for drivers with a single serious violation. As a result, drivers with points on their licenses should be prepared to pay more for insurance and may even have trouble finding a policy. Drivers with points who struggle to find affordable coverage or who are rejected by standard insurance companies can also opt for high-risk insurance. If you have so many points that private insurers repeatedly turn you down, consider joining the risk group assigned by your state.
Even if your policy is expensive now, remember that points will be removed from your record over time and your premiums will decrease as they do. In addition, taking advantage of any points reduction and insurance program can improve your driving record and your insurance costs. Finally, drivers with points should be especially willing to compare prices, as insurance companies vary greatly in how much premiums increase for various violations. You should switch your car insurance to another company when you can find a cheaper rate for the same amount of coverage without sacrificing aspects such as customer service.
In fact, it's best to compare quotes and consider changing insurance companies every 6 to 12 months to minimize costs. It's also worth checking the prices every time there's a change in circumstances that affects your fare, such as insuring a new car or adding a new driver. When to consider changing car insurance companies Adding a teenager to your insurance policy costs 140% to 160% more, on average. On the other hand, adding an experienced driver could increase or decrease your premium, depending on the exact scenario.
As a result, it's worth comparing prices before simply accepting a new rate from your current insurer. When you reach an age or experience limit, car insurance rates vary dramatically by age, with particularly steep drops when the driver turns 19 and 21. Likewise, when a driver has been on the road for at least five years, they'll typically be able to get a lower fare. The cheapest insurer for an old car may not be the cheapest for a new car or special vehicle, since each insurer calculates rates differently.
If you are adding a vehicle, you should also consider the discounts for several vehicles offered by different companies. When your driving record changes If you were recently cited for a traffic violation, each insurer will adjust their rates by a different amount, so changing it might make sense. Similarly, some insurance companies will look at just three years of your driving record, while others will look at a longer period. As a result, it's a good time to look for better prices when violations or claims reach the three-year milestone.
Obtaining a copy of your driving record and your CLUE report can help you time things correctly. When your credit score improves, your credit score can be an important factor in setting car insurance prices. If it has improved, report it to your current insurer and then see if other companies can beat your insurance company's price. When your insurance needs change: Financing a new car or paying off a loan can change the types of coverage you need to have.
You may also want to reevaluate your policy's limits and deductible. When their marital status changes, married drivers typically pay less for car insurance than single drivers, so be sure to tell your insurance provider about your nuptials. You should also take the opportunity to see if another insurer will offer a lower premium. Your status as a landlord, rather than a renter, may affect your premiums.
Insurers generally charge lower premiums to homeowners, and you can also get a discount for multiple policies if you insure your home and car with the same company. When your level of education or employment changes, earning a college degree will lower your rates with some insurers more than others. Some companies also offer discounts for low mileage, which could benefit you if you get a new job with a shorter trip. Yes, you can change your car insurance anytime.
It's generally easier to change car insurance companies at the time the policy is renewed, but if you choose to switch in the middle of the policy, your current insurer will normally reimburse you for unused premiums, less cancellation fees. When changing insurers, it's important to avoid any gaps in coverage. In other words, you should make sure that your new policy starts before you cancel the old one. For more information, see WalletHub's guide to switching car insurance.
Your web browser (Internet Explorer) is out of date and is no longer compatible. The 10 largest auto insurance companies account for more than three-quarters of the entire auto insurance market and are led by State Farm, Geico and Progressive. The 10 largest auto insurance companies in the United States together represent 76% of the market, so there's a good chance that you're at least familiar with them. These auto insurance providers are led by major names in the industry, such as State Farm, Geico, Progressive, Allstate, and USAA.
The 10 largest auto insurance companies cancel more than three-quarters of direct premiums in the U.S. Find more details below on the 10 largest insurance companies in the country by market share and their average total and minimum coverage costs. State Farm's average full coverage cost is about 14% cheaper than the national average. If you're looking to save more, at State Farm you'll find discounts on auto insurance, such as multi-car programs, multiple, no-accident policies for good students, driver training and vehicle insurance.
The average Geico cost for car insurance with full coverage is about 24% cheaper than the national average. In addition to cheap car insurance rates, Geico offers discounts on auto insurance, such as airbags, good students, good drivers, new cars, and federal employees. The company is also owned by Berkshire Hathaway, which gives it a great ability to pay car insurance claims. Allstate is ranked fourth among the largest auto insurance companies with a market share of 10.4%.
It has a wide variety of insurance coverage options and a robust J, D. In addition, all Allstate policies include a claim satisfaction guarantee, which covers up to six months of premium costs if drivers aren't satisfied with the insurance claim process. Allstate's average full-coverage auto insurance rates are about 21% higher than the national average. However, Allstate offers discounts such as multiple policies, good student, early signing, new car, and automatic payment that could lower your car insurance rates.
USAA is the fifth largest auto insurance company, with a 6% share of the auto insurance market. It is known for its cheap car insurance rates, strong financial strength rating, and excellent performance in J, D. However, USAA car insurance is only available to members of the military, veterans, and their families. USAA's average prices are the best among the five largest auto insurance companies.
Average provider costs are an impressive 39% cheaper than the national average for car insurance with full coverage. According to data from the NAIC, the largest auto insurer in the United States. State Farm represents 15.9% of the auto insurance market. Geico, Progressive, Allstate and USAA round out the five largest auto insurance companies in the country.
Geico is a larger auto insurance company than Allstate in terms of market share. While Allstate represents 10.4% of the U.S. In the auto insurance market, Geico claims an even larger share of 14.3%. The 10 largest auto insurance companies, from highest to lowest market share, are State Farm, Geico, Progressive, Allstate, USAA, Liberty Mutual, Farmers Insurance, Nationwide, American Family Insurance and Travelers.
Chances are you can't name all the auto insurance companies out there, but you've probably heard of some of the biggest insurers, such as Allstate, Geico, Progressive, and State Farm. Together, these four companies represent more than half of the personal auto insurance market in the U.S. You've probably also heard of the other companies that round out the top 10 list. Larger insurers may have advantages over smaller auto insurance companies, such as greater financial strength and stability, a wider network of agents and claims adjusters, 24-hour customer service, and better apps and websites.
State Farm, the nation's largest auto insurance company, offers policies across the country, except for Massachusetts and Rhode Island. Coverage is sold exclusively by captive agents, meaning they only sell State Farm products. However, if you don't want to work with an agent, you can get a quote online. There is also a mobile application that allows you to contact the roadside assistance service, file claims and view your insurance card.
State Farm offers many other types of policies, such as insurance for renters, businesses, homes, boats, ATVs, and commercial cars. In some cases, discounts are available for drivers who purchase more than one type of policy. Some customers in certain states may not be able to get a quote over the phone, but drivers in all states can get a quote through the Geico website, app, or a local Geico agent. In addition to auto insurance, Geico offers general liability coverage and insures motorcycles and off-road vehicles.
Auto insurance discounts are available to customers who purchase other policies, such as home insurance, from companies that have partnerships with Geico. Progressive auto insurance policies are available in all 50 states and in Washington, DC. You can purchase coverage online, by phone, or through an agent. You can manage your policy with a mobile app and get help from a digital voice assistant through Google Home.
In addition to auto insurance, Progressive sells general liability policies, commercial auto insurance, and coverage for other vehicles, such as boats and snowmobiles. Auto insurance discounts are offered to customers who purchase other policies, such as home insurance, from Progressive partner companies. Allstate sells auto insurance and a wide range of other products through agents in all 50 states and in Washington, DC. You can find an agent or get a quote on the Allstate website; the company's mobile app allows you to manage your coverage, pay your bill and check claims.
Discounts are available if you combine your car insurance with some of Allstate's other policies, or if you have a new car. Coverage is available for homeowners, renters, landlords, boats, businesses and more. Travelers sells auto insurance through agents in 42 states and Washington, DC. Policies are available through agents or online.
The company's website and mobile app allow you to pay bills, file claims, and contact your agent for help. NerdWallet calculated the average fees based on public statements obtained by the price analysis company Quadrant Information Services. We examined the rates for men and women in their 40s for all zip codes in any of the 50 states and in Washington, DC. Property and accident insurance services offered through NerdWallet Insurance Services, Inc.
OK9203 Property & Accident Licenses. Of the companies on our list, NJM and Geico have the lowest average total coverage premiums. While these companies may offer low average rates, there may be others that are the cheapest for you. Nationwide, car owners, USAA and Geico offer average low rates for full and minimum coverage.
Your premium will depend on your individual qualifying factors, including your driving history, the type of car you drive, and the state in which you live. Getting and comparing quotes from multiple insurers, taking advantage of discounts, and maintaining a clean driving record can help you find the cheapest car insurance company for your situation. Choosing the best car insurance company can be a little more difficult when you consider the needs of several drivers, especially young adults, who don't have as much experience on the road as older drivers. Bankrate found that Auto-Owners, Geico and Nationwide can be good options for young adults, but the company that works best for you and your family will vary depending on your specific needs.
Searching for prices and comparing quotes can have an even greater impact when you have a young driver in your policy, as rates tend to be higher for this age group. Auto Insurance Study, from the USAA, generally has the highest customer satisfaction ratings, but does not qualify for official classification due to eligibility requirements. The Guides Auto team has looked for data to determine which companies have the largest market share in the auto insurance industry. These averages are cheaper than domestic rates for car insurance plans with minimum and full coverage.
The 10 largest auto insurers in the United States are Progressive, State Farm, Geico, Allstate, USAA, Liberty Mutual, Farmers, Travelers, Nationwide and American Family Insurance. To choose the best insurance company for you, review the list of the 10 largest auto insurance companies in the U.S. To be safe, visit your state's Department of Insurance website or call if you have questions about a particular insurer. Geico, known for its animated gecko ads, has insured more than 16 million auto policies, which insure more than 24 million vehicles.
State Farm is a great auto insurance company for anyone who wants a local agent, a personalized experience, and cheaper than average rates. Bankrate's content team, which includes licensed insurance agents with decades of combined industry experience, researched 122 auto insurance companies to find the best of the best. As the nation's seventh largest auto insurer, Farmers Insurance offers unique optional plans, such as personalized equipment coverage, loss of use coverage, rideshare insurance, and personal supplemental insurance. Married drivers typically pay less for car insurance than single drivers, so be sure to notify your insurance provider about your nuptials.
The average annual auto insurance premium with full and minimum coverage based on a 40-year-old driver with a clean driving record and good credit. .
