10 Largest Auto Insurance Companies in the U.S. (2024)
State Farm, Progressive, and Geico are the largest auto insurance companies in the U.S. by market share. State Farm is the largest insurance provider with superior customer service, but Geico auto insurance rates are more competitive at $80/mo. Good drivers save 30% with Progressive safe driving discounts.
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Michael Vereecke
Commercial Lines Coverage Specialist
Michael Vereecke is the president of Customers First Insurance Group. He has been a licensed insurance agent for over 13 years. He also carries a Commercial Lines Coverage Specialist (CLCS) Designation, providing him the expertise to spot holes in businesses’ coverage. Since 2009, he has worked with many insurance providers, giving him unique insight into the insurance market, differences i...
Commercial Lines Coverage Specialist
UPDATED: Feb 16, 2024
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Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Feb 16, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Pros & Cons
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Pros & Cons
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Pros & Cons
State Farm, Geico, and Progressive are the largest auto insurance companies in the U.S.
As the top three insurance companies by market share, State Farm, Progressive, and Geico dominate the industry. If you consider the top ten largest auto insurance companies in the U.S., they hold more than 75% of the market. Compare auto insurance quotes from these major companies against regional providers in your area to get the best rates.
Company | Rank | Market Share | A.M. Best Rating | Best For | Jump to Pros/Cons |
---|---|---|---|---|---|
#1 | 16.84% | A++ | Customer Service | State Farm | |
#2 | 14.05% | A+ | Accident Forgiveness | Progressive | |
#3 | 13.76% | A++ | Cheap Rates | Geico | |
#4 | 10.69% | A+ | Low-Mileage Drivers | Allstate | |
#5 | 5.92% | A++ | Military Families | USAA | |
#6 | 4.95% | A | Teachers & Educators | Liberty Mutual | |
#7 | 4.55% | A | Insurance Discounts | Farmers | |
#8 | 2.11% | A++ | Commercial Policies | Travelers | |
#9 | 2.11% | A | Teen Drivers | American Family | |
10 | 1.99% | A | Usage-Based Insurance | Nationwide |
#1 – State Farm: 16.84% Market Share
Pros
- National availability: Most popular provider with coverage in 50 states. Use our State Farm auto insurance review to compare rates in your state.
- Competitive rates: Cheaper than Geico in some states for $52/mo
- Cheap high-risk insurance: Lowest average rates for drivers with accidents, tickets, or DUIs
- Great customer service: Top five for claims satisfaction and top three for usage-based insurance
Cons
- Model restrictions: State Farm is no longer insuring certain Kia or Hyundai models
- No gap insurance: Won’t cover a loan or lease after a car is totaled
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#2 – Progressive: 14.05% Market Share
Pros
- National availability: Buy auto insurance in all 50 states. Use our Progressive auto insurance review to compare rates in your state.
- Great usage-based insurance: Top three for customer satisfaction and discounts
- Rideshare insurance with roadside assistance: Designed for Uber and Lyft drivers
- Automatic accident forgiveness: Never raises rates for first minor accident (up to $500)
Cons
- Expensive in some states: Charges more than the national average at $92/mo
- Poor customer satisfaction: Ranks below-average for claims and customer service in most regions
#3 – Geico: 13.76% Market Share
Pros
- National availability: Buy Geico auto insurance in all 50 states. Compare rates in our Geico review.
- Competitive rates: Cheapest in most states at $52/mo
- Cheap teen insurance: Lowest rates for drivers under 25 with clean records
- Great usage-based insurance: Top three for customer satisfaction and discounts
Cons
- Poor claims service: Consistently ranks below average in customer satisfaction for claims
- Expensive for high-risk drivers: Increases rates more than other companies after a ticket or claim
#4 – Allstate: 10.69% Market Share
Pros
- Great customer service: Top ten for claims satisfaction in annual J.D. Power surveys
- National availability: Buy auto insurance in all 50 states
- Safe-driving bonus: Earn money back every six months drivers are accident-free
- Big low-mileage discounts: Save up to 30%, or higher-mileage drivers can sign up for Allstate Milewise Unlimited. Learn more in our Milewise review.
Cons
- Expensive in some states: Charges more than the national average at $100/mo for minimum coverage
- Rate increases: Policyholders complain of higher rate increases at renewal than with other companies
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#5 – USAA: 5.92% Market Share
Pros
- Cheapest rates: Cheaper than Geico for eligible drivers. Compare rates in our USAA vs. Geico insurance review.
- National availability: Buy auto insurance in all 50 states
- Financial services: Provides investment and banking services, including auto loans
- Rideshare insurance: Policies designed for Uber and Lyft drivers
Cons
- Pulling coverage: Not writing new policies in high-risk states like California and Florida
- Military families only: Available to veterans, active military, and their immediate family members
#6 – Liberty Mutual: 4.95% Market Share
Pros
- National availability: Buy auto insurance in all 50 states. Find coverage near you in our Liberty Mutual review.
- Customizable add-ons: Sign up for a deductible fund and better car replacement
- Big low-mileage discounts: Save up to 30% driving 7,500 miles or less per year
- Policies for teachers: Unique coverage for property damaged during school events or on school property
Cons
- Expensive: Charges more than any company on this list at $115/mo for minimum coverage
- Poor customer satisfaction: Ranks below-average for claims and customer service
#7 – Farmers: 4.55% Market Share
Pros
- Plenty of discounts: More auto insurance discounts than any other national company. Learn more about Farmers auto insurance discounts.
- National availability: Buy auto insurance in all 50 states
- Rideshare insurance: Policies designed for Uber and Lyft drivers
- Affordable rates after a DUI: Won’t raise rates as high as other companies on this list
Cons
- Pulling coverage: Not writing new policies in high-risk states like California and Florida
- Poor customer satisfaction: Ranks below average in most regions for customer service.
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#8 – Travelers: 2.11% Market Share
Pros
- Responsible Driver Plans: Forgives one minor accident, one minor violation, and reduces deductibles by $50 every six months for safe drivers without claims
- Affordable high-risk insurance: Charges less for drivers with accidents or DUIs than other companies
- Competitive commercial insurance: Lower rates than its competitors for business policies
Cons
- Expensive in some states: Charges more than the national average at $90/mo
- Limited availability: Only in 42 states. Find coverage near you in our Travelers insurance review.
#9 – American Family: 2.11% Market Share
Pros
- Competitive rates: Cheaper than the national average at $72/mo
- Cheap for teens: Great rates under $200/mo for drivers under 21
- Great customer service: Top ten for claims satisfaction in annual J.D. Power surveys
Cons
- Limited availability: Only in 21 states. Find coverage near you in our American Family insurance review.
- Regional customer service varies: Policyholders in some states report poor experiences
#10 – Nationwide: 1.99% Market Share
Pros
- Competitive rates: Cheaper than the national average at $73/mo
- Great usage-based insurance: SmartRide available in 44 states, more than other companies’ UBI programs. Find coverage near you in our Nationwide SmartRide review.
- Pet insurance: Covers up to $1,000 for pet injuries as part of its loyalty rewards
Cons
- Limited availability: Only available in 46 states, and some states have fewer options
- Poor customer satisfaction: Ranks below average for claims and customer service
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Top Ten Largest Auto Insurance Companies in the U.S.
Who are America’s largest auto insurance companies? Looking at market share percentages tells us who is the largest insurance company in the U.S. because it means the company controls more of the market than any other company.
Larger insurance companies may offer better rates due to their volume of business. However, you should still seek to become an educated consumer and compare various commercial auto insurance carriers when shopping for the best rates for a car insurance policy. If not, you may end up going for one of the worst auto insurance companies in the country instead.
- State Farm
- Geico
- Progressive
- Allstate
- USAA
- Liberty Mutual
- Farmers Insurance
- Nationwide
- Travelers
- American Family
The table below shows the 20 biggest insurance companies in the U.S. by market share (2018). Interestingly Geico didn’t even crack the top 20.
Top 20 Largest Auto Insurance Companies in the U.S. by Market Share
Group Market Share Direct Premiums Written
State Farm 16.84% 46,660,515,469
Progressive 14.05% 38,927,286,246
Geico 13.76% 38,135,712,698
Allstate 10.69% 29,610,810,472
USAA 5.92% 16,405,977,077
Liberty Mutual 4.95% 13,704,350,854
Farmers 4.55% 12,605,723,036
Travelers 2.11% 5,836,017,875
American Family 2.11% 5,834,828,007
Nationwide 1.99% 5,505,995,164
Auto Club Enterprises 1.45% 4,011,979,040
Kemper 1.30% 3,606,770,294
Erie 1.30% 3,593,761,558
Auto Owners 1.27% 3,516,291,951
CSAA Insurance 1.11% 3,080,536,574
Mercury 0.93% 2,572,282,551
Hartford Fire & Casualty 0.71% 1,979,861,649
Automobile Club Group 0.70% 1,943,888,941
Sentry Insurance 0.49% 1,364,789,371
The Hanover 0.49% 1,349,213,783
The top three car insurance companies in the U.S. are State Farm, Progressive, and Geico.
According to the National Association of Insurance Commissioners, the company that owns the most market share in the United States is State Farm Auto Insurance.
State Farm sells more auto insurance policies in the U.S. than any other car insurance company. Who else is in the list of top five insurance companies in the U.S.? Allstate and USAA.
But when shopping for a car insurance company, size is only one factor that you should consider when shopping for the right kind of insurance coverage. Before signing up for any kind of insurance, be sure to learn about the different coverage options available.
Consistency in service is generally provided by agents of the largest auto largest insurance companies in the U.S. One agency offers the same quality of service and operates in much the same way as any other agency. Smaller insurance companies may vary from agency to agency in terms of quality of customer service and other factors that determine an auto insurance provider‘s effectiveness.
Just because State Farm is the largest auto insurance company in the U.S., it does not mean you’ll receive the cheapest rates from that company. You will need to perform quote comparisons to find the best car insurance quotes in the United States. Remember, there are different insurance options to choose from. Do your due diligence before just choosing the largest insurer.
In addition to the size of the company, check the companies with regard to their customer satisfaction reviews.
Many review sites provide customer reviews of companies, including car insurance carriers. Make sure the car insurance company you select has a great track record of keeping their customers happy and offers different insurance options.
Auto Insurance Company Reviews
How many auto insurance companies are there in the USA? According to the Insurance Information Institute, there were 5,965 automobile insurance carriers in 2018.
Comparing the largest auto insurers in the U.S. is a smart way to find cheap auto insurance rates. You might consider starting with the top ten auto insurance companies in the USA.
Which Are the Highest Rated Insurance Companies?
Now that you know who is the biggest auto insurance company in the U.S., let’s look at company reviews. If we only compared auto insurance companies by size, we’d miss out on actual customer experiences.
Many companies and review sites offer insight into the customers’ opinions about car insurance companies. JD Power and Associates regularly conduct random sample customer satisfaction surveys about U.S. car insurance companies.
Who is often the number one auto insurance company in the USA according to these companies? Incidentally, State Farm is usually at the top of the JD Power and Associates list of car insurance companies.
State Farm customers report that they are very satisfied with the customer service provided by this company in Power and Associates most recent survey.
Allstate also appears in the Top Five Car Insurance Providers in the survey. In fact, State Farm usually ranks high on all metrics in most customer service satisfaction reviews.
Various websites provide customer-written reviews for car insurance companies. Sites like Epinions.com and ViewPoints.com allow customers to write detailed reviews about their experiences with auto insurance companies.
But remember to ask yourself, are the major auto insurance companies better than smaller ones? Just because Geico has fun ads, it may not be the best company for you. There may be local agencies near you who fit all your needs. Remember to include those agencies when you comparison shop.
What to Look For When Considering Auto Insurance Companies
What are the top insurance companies in the USA doing to earn your business? Beyond looking at insurance companies ranked by size, there are a few more things to look for when reviewing car insurance companies.
You might be wondering, where can I find unbiased reviews of auto insurance companies? Fortunately, we’ve compiled a brief list of questions to consider during your research to help you shop smarter. Check them out below.
Does the company have an excellent customer service reputation?
Even the largest companies in the United States should earn your trust through great customer service.
Insurance companies that have great customer service generally keep their customers happy. When reading reviews or ratings for car insurance companies, consider the company’s reputation for customer service.
Does the company pay claims promptly and without issue?
Great insurance companies will not hassle their customers when it comes to paying out on policies. When you’re comparing the major U..S insurance companies, see how long the claims process usually takes.
After all, the last thing you want after you have been in an accident is to have issues with your car insurance company when you present them with the claim. The best insurance companies pay claims promptly and without issue.
Does the insurance company have a reputation for caring about its customers?
Beyond asking what are the biggest auto insurance companies in the USA, you should also ask if the company cares about the customers.
This consideration is similar to the first consideration. However, the difference here is the way the customer is treated overall. Choosing one of the biggest insurers in the U.S. does not necessarily mean you’ll be the way you deserve.
Is the car insurance company more concerned with its bottom line than the customer’s well-being?
The leading auto insurance companies should also make you feel valued. When researching, ask yourself, does the insurance company show concern, and treat the customer with respect, making them feel important?
It is nice when your auto insurance company lets you know that they appreciate your business.
If the unfortunate happens and you’re involved in an accident, you’ll have to communicate with your carrier. If they show concern and ask if you are okay after the stressful event, it will make you feel like they actually care about you as a person.
Automobile accidents are stressful enough. The best insurance companies will be less concerned about their bottom line, and more concerned with you.
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Finding the Best Deal for Car Insurance
When deciding which United States automobile insurance company to choose from, you likely want to find the lowest possible rates. We understand you want the most affordable car insurance in the United States. The only way to know what company will provide you with the best possible premiums is by comparison shopping.
For example, the only way you can answer which is a better insurance company, Geico, Allstate or State Farm, is by comparing the car insurance quotes each company provides you with.
Even though other variables factor into your decision regarding which insurance company to select as your car insurance provider, the size, and reputation of the company are two important factors.
However, almost everyone would like to know that they are getting the best deal on their car insurance. To make sure that the rates you are paying for your current car insurance policy are competitive, use an insurance comparison website to compare your current insurance provider’s rates with the rates of other providers in your area.
You’re ready to secure your cheapest car insurance rates in the United States. Whether you go with one of the major auto insurance carriers or a local company, start off by comparison shopping.
Frequently Asked Questions
What is the largest auto insurer in the United States?
State Farm is the largest auto insurance company in the United States.
What are the big three insurance companies?
State Farm, Progressive, and Geico are the top three largest auto insurance companies in the U.S.
Are the biggest auto insurance companies in the U.S. also the best?
While size is a factor to consider, it doesn’t guarantee the best insurance coverage. It’s important to compare different companies and their offerings to find the right coverage for your needs.
How many auto insurance companies are there in the U.S.?
According to the Insurance Information Institute, there are 5,965 automobile insurance carriers.
Who is the top five insurance company?
USAA is the fifth-largest auto insurance company in the U.S.
Who is Geico’s biggest auto insurance competitor?
State Farm and Progressive are Geico’s biggest competitors in terms of customer service, while you may find regional insurers in your state have better rates than Geico.
Is Geico auto insurance higher than Progressive?
Geico often has cheaper auto insurance rates than Progressive, especially for teens and young drivers.
Who is most expensive for auto insurance?
Allstate and Liberty Mutual often have the highest rates in most state. Comparison shop online to find the cheapest auto insurance company near you.
What should I look for when considering auto insurance companies?
When evaluating auto insurance companies, consider factors such as their customer service reputation, prompt claims processing, customer care, and a focus on customer well-being. Additionally, comparing quotes from multiple companies can help you find the best deal for car insurance.
What is the richest insurance company in the United States?
State Farm is the richest insurance company with over $75,000,000,000 earned in direct premiums.
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Michael Vereecke
Commercial Lines Coverage Specialist
Michael Vereecke is the president of Customers First Insurance Group. He has been a licensed insurance agent for over 13 years. He also carries a Commercial Lines Coverage Specialist (CLCS) Designation, providing him the expertise to spot holes in businesses’ coverage. Since 2009, he has worked with many insurance providers, giving him unique insight into the insurance market, differences i...
Commercial Lines Coverage Specialist
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.