Which are the top 10 auto insurance companies in USA today?
Car insurance is one of the most important things to do when a car is purchased, no matter the kind of vehicle it is.
Therefore, there is need to have car insurance coverage from one of the best auto insurance companies.
Car insurance is very important because its policies are to protect you in case of property damage or bodily injury liability if you are in an accident. The policy also covers damage to your own car.
A lot of factors go into car insurance policies such as injury liability, property damage, accident forgiveness, and roadside assistance.
We’ve recently written about the top insurance companies in Nigeria, you should check that out.
The Top 10 Auto Insurance Companies In USA
Here is a list of the top 10 auto insurance companies in the United States to help you get the best insurance you could ever seek for. It is primarily based on audience satisfaction.
10. American Family
American Family is the first, though the least, on this list of the top 10 auto insurance companies in USA.
The company was established in 1927 under the name Farmers Mutual Automobile Insurance Company and then has its permanent name in 1963 as American Family Mutual Insurance Co.
It was established with the initial goal of insuring farmers. In 1930, American Family expanded and began to focus on insuring non-farmers. Presently, it has grown to be one of the biggest insurance companies in the United States.
American Farmers is known for its extensive discount catalogue that can make it decent rates even more affordable for customers.
It has a good customer service reputation, it also has an A rating on AM Best. The company’s coverage is available in only 19 states, mostly in the West and Midwest.
The car insurance company is known for its devotion to the community and participation in programs that support the environment. It also provides grants to support the environment.
American Family auto insurance policy provides coverage which includes: Bodily Injury Liability (BI), Property Damage Liability (PD), Comprehensive Car Insurance and many others.
Presently, American Family has insurance premiums of $5 billion with 2% market share, making it the 9th auto-insurance company in the US
Travelers is one of the biggest names in the auto insurance industry and have been in existence for over 160 years.
The company is no doubt one of the top 10 auto insurance companies in USA and in the world.
It issued its first auto insurance policy in 1897 before the Ford Model-T was invented. The company has earned an A++ rating on AM Best, receiving coverage in 43 states.
Travelers offer a rate pricing program called IntelliDrive which determines rates by assessing your safe driving behavior via a smartphone app.
Travelers provide services like gap insurance, rental coverage, roadside assistance, rideshare coverage, and more.
It gives drivers access to its mobile app, website, or Amazon Alexa virtual assistant to manage policy details.
Traveler is a good option for any motorist due to its comprehensive coverage options, long-standing reputation, and strong financials
Travellers has an insurance premium of $5 billion and 2% market share.
On the 8th position on the list of top 10 auto insurance companies in USA is Nationwide.
The company has the motto “on your side”. Its coverage is available in 47 states. It has top ratings from a variety of outlets such as AM Best, S&P and Moody’s.
It was also ranked as No.53 in Fortune’s most recent list of the “100 Best Companies to Work For”.
Nationwide does business across several verticals – including financial services, commercial lines and personal lines,
It offers standard coverage and discounts one would expect from a large national insurer.
With a Nationwide auto insurance policy, the coverage you can get includes Bodily Injury Liability (BI), Property Damage Liability (PD), Collision, Comprehensive Car Insurance, Medical Payments (MedPay), Personal Injury Protection (PIP) and uninsured/underinsured motorist protection.
Following the rating of the top ten auto insurance companies in the USA, Nationwide has over $6 billion insurance premium and a 2% market share.
7. Farmers Insurance
Farmers auto insurance is one of the nation’s oldest choices for insurance and ranks among the best auto insurance in the United States.
Farmers Insurance offers a variety of coverage options in all 50 states, it also provides useful protection like accident forgiveness, roadside assistance, new car replacement, and rideshare coverage.
Farmers provide traditional coverage which covers bodily injury liability, property damage liability, collision coverage, comprehensive coverage, medical payments, personal injury protection, and coverage against uninsured/underinsured motorists.
Farmers insurance guarantees a replacement for newly purchased vehicles that are a total loss.
The vehicles at loss will be replaced with a new car of the same make and model at full market value without depreciation as long as the car has less than 24,000 miles on it and is less than 2 model years old.
Farmers auto insurance company is rated among the top 10 auto insurance companies in USA with an insurance premium of $11 billion and a 4% market share.
6. Liberty Mutual
Liberty Mutual is based in Boston, Massachusetts, and was founded in 1912. It currently offers a vast array of insurance products and services and ranks 75th on the Fortune 500 list.
The company has more than 50,000 employees throughout 900 locations in all the 50 states of the United States.
Liberty Mutual has an A rating from the Better Business Bureau (BBB) and an A financial strength rating with AM Best indicating that the company is financially stable and can pay claims.
It has a full selection of standard insurance options in all the 50 states including comprehensive insurance, liability auto insurance, collision, uninsured motorist, personal injury protection, and medical payments.
It also has other benefits which includes lifetime repair guarantee, accident forgiveness, new/better car replacement, roadside assistance, rental car reimbursement, original parts replacement and auto loan/lease gap.
Presently, Liberty Mutual has an insurance premium of $12 billion with 6% market share making it to be on the list of the top 10 auto insurance companies in USA.
The next on the list United State’s leading companies for auto insurance is USAA which stands for United Services Automobile Association.
It was founded in 1922 and has been ranked #101 on the Fortune 500 List. It provides full coverage options, including benefits like accident forgiveness and new car replacement.
It is highly rated but only available to drivers who are a member of the military, veteran, or a family of a military member. It is available in all 50 states in the US.
Since 2009, USAA has been providing insurance products to service members of other branches of the military like members of the Air Force, Navy, Marines, Coast Guard, and National Guard.
USAA does not only provide car insurance services, it also provides a wide array of financial products and services such as: property insurance, life insurance, health insurance, banking services, vehicle loans, home loans, credit cards, retirement accounts and many others.
USAA is rated as the fifth in the list of auto insurance companies in the USA with over $15 billion insurance premium and 6% market shares.
Allstate is the fourth biggest car insurance company with its average customer service ratings and an A+ score on AM Best and Better Business Bureau (BBB).
It provides auto insurance in all 50 states and some parts of Canada for a variety of coverage like roadside assistance, usage-based insurance, accident forgiveness, new car replacement, and coverage for alternative vehicles.
Allstate has been protecting drivers with insurance policies since 1931 and is also made accessible to poor credit and young drivers.
It offers discounts for insuring multiple vehicles, safe driving, and having safety features installed in your car. It is accessible by drivers to its helpful and user-friendly mobile app.
Allstate is the fourth on the list of the top 10 auto insurance companies in USA with an insurance premium of $24 billion and a 9% market share.
The third on the list is Progressive Insurance. It is a well-known company with a reputation for transparency which helped it earn a 4.5 rating.
The company has earned an A+ on AM Best which means it has superior financial ability to meet insurance claims. It also has an average customer satisfaction rating.
The company has been in existence since 1937 and has continued to evolve with the times. It was the first that people could purchase on the internet in 1997 and was also the first to introduce a usage-based insurance option in 2008.
It provides online tools and can purchase coverage in all 50 states for standard insurance and also rental car reimbursement, usage-based coverage, custom parts and equipment insurance. It also provides drivers with accident forgiveness.
Progressive has higher rates than some other providers but makes up for it with a wide range of discounts.
Drivers can save money for bundling policies, adding multiple vehicles to a policy, and safe and defensive driving, as well as being a student, military member, and homeowner.
Presently, Progressive has insurance premiums of $32 billion with 12% market share, making it the 3rd auto insurance company in the USA.
Geico is the second among the biggest car insurance companies with an A++ rating on AM Best and above-average customer service. It is available in all 50 states.
Geico is an acronym that stands for Government Employees Insurance Company. It started in 1936 by Leo and Lilian Goodwin, who thought that government employees would be less risky to insure.
You should also check out our post about the list of government grants for individuals in the United States.
Geico offers usage-based coverage, accident forgiveness, coverage for alternative vehicles, and more.
Through Geico, drivers can access affordable car insurance rates, including for high-risk drivers and teenage drivers.
In 2018, Geico has written over $33 billion in premiums as a part of Berkshire Hathaway.
Many people use Geico auto insurance for its affordability and smooth claims experience.
It is the second leading on this list of top 10 auto insurance companies in USA with insurance premiums of $34 billion and a 14% market share.
1. State Farm
State farm is the largest property and casualty insurance provider in the United States. Interestingly, it is the largest auto insurance company provider in the United States.
It possesses 17% of the total available market share and has a reputation for above average customer service and good financial standing after earning an A++ rating on AM Best.
It ranks 36th Fortune 500 list and has over 83 million policies and accounts; its growth skyrocketed because it was a great option for insurance.
It offers that are among the lowest in the nation for a variety of coverage in 48 states.
State Farm provides insurance for cars, motorcycles, boats, ATV’s, motor homes and many more with mobile app for drivers to manage their auto insurance policies.
It also offers good selection discounts for good students, students away from home, multiple vehicles on your policy, and safe driving.
Its customers enjoy lots of benefits like affordable rates and its reviews are largely positive.
With State Farm car insurance, one can get all the standard coverage offered by most companies as well as add-ons like roadside assistance, rental coverage, and more.
State Farm is rated the number one because it has high customer coverage and has the highest insurance premiums rating $42 billion with 17% market share.
Top 10 Auto Insurance Companies In USA (Summary)
Summarily, State Farm is the largest insurer in 48 states including Washington D.C, followed by State Farm and GEICO.
You have numerous options when it comes to auto insurance providers and you do not necessarily have to choose from the biggest car insurance companies.
Here’s a quick recap of the top 10 Auto insurance companies in USA:
- State Farm
- All State
- Liberty Mutual
- Farmers Insurance
- American Family
To get the best and most benefitting auto insurance companies in USA, determine your choice by checking out this list.
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