10 Largest Auto Insurance Companies February 2022
While the largest organizations underwrite a massive quantity of policies, they differ on price, carrier nice and many different characteristics. To assist you select the exceptional insurance plan enterprise for you, evaluate the listing of the 10 biggest auto insurance plan corporations in the U.S. and what makes every of them unique.
What are the greatest auto insurance plan companies?
State Farm is the quantity one auto insurance plan enterprise in the united states of america in phrases of market share and premiums written, accompanied through Geico, Progressive and Allstate. When searching at the rankings of the pinnacle auto insurance plan corporations in the United States, most of the names are recognizable due to their countrywide tv advertising and marketing campaigns.
Yet the 10 largest insurance companies in the U.S., listed below, offer different insurance rates, customer claims experiences and features. For shoppers looking for cheap rates, we always recommend comparing quotes from multiple insurers to find the best price.
|
Rank
|
Company
|
Premiums written in billions
|
Market share percentage
|
|---|---|---|---|
| 1 | State Farm | $40.4 | 16% |
| 2 | Geico | $33.9 | 14% |
| 3 | Progressive | $33.2 | 13% |
| 4 | Allstate | $25.9 | 10% |
| 5 | USAA | $15.8 | 6% |
| 6 | Farmers | $12.2 | 5% |
| 7 | Liberty Mutual | $11.8 | 5% |
| 8 | Nationwide | $5.8 | 2% |
| 9 | American Family | $5.2 | 2% |
| 10 | Travelers | $4.9 | 2% |
1. State Farm
State Farm is a tremendous auto insurance plan corporation for everybody who wishes a nearby agent, a personalised trip and cheaper-than-average rates.
Average annual premium: $1,310
Market share: 16%
Premiums written: $40.4 bn
ValuePenguin rating: 4.5/5
J.D. Power patron pleasure score: 892
Read our full State Farm review
State Farm is the biggest auto insurance plan employer in the U.S. and owns 16% of the complete accessible market share. Over 15% of bucks spent on personal passenger auto premiums in the united states of america go to State Farm.
The agency presently employs about 60,000 personnel and has almost 19,000 agents. State Farm operates as a mutual insurance plan company, which means that its policyholders very own it.
Among the greatest extensively accessible automobile insurers in this list, State Farm presented the most inexpensive automobile insurance plan quotes in most of the U.S.
2. Geico
Geico is one of the most inexpensive auto insurance plan companies. It gives countrywide availability and an convenient purchasing experience.
Average annual premium: $1,917
Market share: 14%
Premiums written: $33.9 bn
ValuePenguin rating: 4/5
J.D. Power client pleasure score: 881
Read our full Geico review
Geico, recognised for its classified ads offering an animated gecko, has served as an underwriter to greater than sixteen million auto policies, which insure greater than 24 million vehicles. The company’s dimension approves it to appoint extra than 40,000 humans throughout 9 regional offices, three carrier facilities and three claims centers.
Geico’s authentic purchaser base consisted of U.S. authorities personnel and army personnel. Today, the insurance plan company’s patron base has extended to consist of humans in the non-public sector.
According to our lookup of the greatest auto insurance plan carriers, Geico is the quality insurer for university students.
Progressive gives specifically aggressive quotes to drivers with previous accidents. However, claims delight scores and insurance preferences are average.
Average annual premium: $2,036
Market share: 13%
Premiums written: $33.2 bn
ValuePenguin rating: 3/5
J.D. Power consumer pleasure score: 862
Read our full Progressive review
Progressive — the third-biggest insurance plan organisation in the usa — was once mounted in 1937. The employer provides the capacity to purchase auto insurance plan in-person, on-line or by means of phone. Alternatively, clients can signal up thru impartial insurance plan agents.
The agency employs extra than 35,000 humans and has over four hundred offices. Progressive is a publicly traded company.
Allstate commonly has better-than-average claims pleasure ratings, however greater rates. However, the insurer provides a range of reductions that can make insurance policies extra cheap for customers.
Average annual premium: $2,349
Market share: 10%
Premiums written: $25.9 bn
ValuePenguin rating: 3/5
J.D. Power patron delight score: 870
Read our full Allstate review
Established in 1931, Allstate is the second-largest publicly traded property and casualty insurance plan agency in America. Like State Farm, Allstate has a roster of nearby sellers geared up to serve your needs. The employer presently employs extra than 46,000 people.
Esurance, a subsidiary of Allstate, operates in the identical space. According to Allstate, the Esurance company pursuits self-directed and brand-sensitive customers, whilst Allstate is geared towards clients who desire nearby and private service.
USAA is one of the satisfactory auto insurers in the country. You’ll revel in extraordinarily aggressive rates, wonderful patron provider and rapid claims responses from USAA. The solely draw back is USAA’s restrained membership.
Average annual premium: $1,170
Market share: 6%
Premiums written: $15.8 bn
ValuePenguin rating: 4.5/5
J.D. Power client delight score: 909
Read our full USAA review
USAA was once situated with the aid of 25 Army officers who determined to insure every other’s motors in 1922. Today, the organization serves thousands and thousands of participants related with the U.S. military, along with contemporary and former provider members, household of provider individuals and cadets or midshipmen.
USAA is headquartered in San Antonio. The company campus’ size extends three-quarters of a mile. USAA is the greatest personal enterprise placed in San Antonio.
Because of its center of attention on the U.S. armed forces, USAA is our pinnacle pick out for the nice and most inexpensive auto insurance plan for veterans and army carrier members.
Farmers affords first rate discounts, insurance alternatives and magnificent patron service. However, Farmers’ steeply-priced quotes might also be a bad for some shoppers.
Average annual premium: $2,521
Market share: 5%
Premiums written: $12.2 bn
ValuePenguin rating: 3.5/5
J.D. Power consumer pride score: 893
Read our full Farmers review
Farmers started out as an insurance plan organisation supplying insurance to farmers’ vehicles. Since then, it has developed to turn out to be the seventh-largest insurance plan enterprise in the country.
It’s challenging to locate an insurance plan business enterprise that provides extra merchandise than Farmers. It affords auto insurance, pet insurance plan and even funding products, amongst different insurance products. Farmers employs almost 13,000 people, underwriting extra than 19 million insurance policies throughout all 50 states.
Liberty Mutual
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Liberty Mutual’s prices differ by using region greater than the traditional insurer, and clients rank the company’s claims delight system as beneath average.
Market share: 5%
Premiums written: $11.8 bn
ValuePenguin rating: 3.5/5
J.D. Power client delight score: 876
Read our full Liberty Mutual review
Liberty Mutual is one of the greatest insurance plan organizations in the U.S. and has been round for over a hundred years. It has a giant global presence, with operations in 17 countries. The organization sells property and casualty, fitness and lifestyles insurance plan policies.
You can get Liberty Mutual auto insurance plan via its name center, website, a neighborhood Liberty Mutual agent or broker, or representatives from its community of regional subsidiaries. One aspect to notice about Liberty Mutual’s insurance is that the agency ensures prices for a year.
8. Nationwide
Nationwide
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Nationwide is beneath common for affordability, and its patron critiques have a tendency to lean negative. Nationwide presents general coverages and reductions you’d assume from a massive countrywide insurer.
Average annual premium: $2,127
Market share: 2%
Premiums written: $5.8 bn
ValuePenguin rating: 4/5
J.D. Power consumer pleasure score: 876
Read our full Nationwide review
Nationwide provides economic services, industrial strains and non-public traces in all 50 states. The employer has contributed greater than $430 million to nonprofit businesses on account that 2000.
Nationwide has a motto known as “On Your Side” that influences how auto insurance plan claims are handled, and how insurance policies and premiums are determined. The organisation additionally recommends getting an annual checkup to make sure policyholders apprehend their advantages and coverage, as nicely as new reductions or modifications to maintain premiums affordable. Nationwide calls this session its “On Your Side” review.
Among this listing of the biggest auto insurance plan companies, Nationwide affords the great offers for clients searching to bundle their domestic and auto insurance plan policies.
LEARN MORE: Best Car Insurance Companies for Bundling Home and Auto Insurance
American Family
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American Family is a strong preference for auto insurance. The employer gives respectable rates, which have the viable to be high-quality when policyholders take benefit of some of its many discounts.
Average annual premium: $1,755
Market share: 2%
Premiums written: $5.2 bn
ValuePenguin rating: 3.5/5
J.D. Power client delight score: 889
Read our full American Family review
American Family was once firstly installed to insure farmers. In the 1930s, the agency elevated and started to center of attention on insuring non-farmers as well. Today, the corporation is one of the largest insurance plan organizations in the U.S., and the biggest insurer through market share in Wisconsin.
American Family is acknowledged for its great reductions that can make its already respectable quotes even greater low cost for customers. However, American Family presently underwrites insurance policies in simply 17 states.
10. Travelers
Travelers
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Moderate grievance rankings and a range of reductions make Travelers a suitable desire for auto insurance plan coverage.
Average annual premium: $2,148
Market share: 2%
Premiums written: $4.9 bn
ValuePenguin rating: 3.5/5
J.D. Power consumer pleasure score: 871
Read our full Travelers review
Travelers is greater than a hundred and sixty years old, making it one of the oldest insurance plan businesses working today. In fact, Travelers issued its first auto insurance plan coverage in 1897, earlier than the Ford Model T used to be invented.
The business enterprise has extra than 30,000 personnel and 13,500 impartial retailers and brokers in a couple of countries, which includes the United States, Canada and Brazil.
Notably, Travelers presents a fee pricing software recognised as IntelliDrive, which determines your quotes via assessing your secure using conduct with a smartphone app. Enrolling in IntelliDrive can doubtlessly minimize your annual insurance plan charges by way of as lots as 20% if you exhibit exact riding habits.