| COMPANY | WHO IT'S BEST FOR |
|---|---|
120x90
120x90
120x90
120x90
120x90
120x90
Nationwide | Most drivers |
Military members and their families | |
New car owners | |
|
180x150
180x150
180x150
180x150
New drivers | |
Drivers with bad credit | |
Drivers with a DUI |
Why trust our car insurance experts
Our team of car insurance experts brings to the table decades of experience in the auto insurance industry, both as editors and consumers. We approach our car insurance analysis the way we would for ourselves or our family members, focusing on the factors that matter the most: rates, coverage and features available, customer complaints and the collision repair process.
We use a data-driven methodology to evaluate hundreds of insurance products, analyze thousands of data points and rate each insurer to help you find the best car insurance product for your situation. Advertisers never influence our editorial content.
You can read more about our methodology below.
Nationwide is the best car insurance company overall thanks to its competitive rates and low level of complaints. Good drivers, or those with a clean record, can benefit from low rates. And, since Nationwide claims the top spot in our best car insurance for teens and best car insurance for seniors ratings, drivers in those groups should also consider the insurer.
If you have a DUI or accident on your record, Nationwide may not be the best fit. Its rates are less competitive for driver with those infractions on their record. Though the insurer offers a range of coverages and features, it doesn’t offer rideshare coverage, making it a less than ideal option if you drive for a company like Uber or Lyft.
Discounts
Accident-free.
Anti-theft device.
Automatic payments.
Bundling/multi-policy.
Defensive driving.
Good student.
Safe driver.
SmartMiles (low-mileage discount).
SmartRide (usage-based program).
Driver profile Good driver
Annual $1,436
Monthly $120
Driver profile After an accident with injury
Annual $2,337
Monthly $195
Driver profile After an accident with property damage
Annual $2,298
Monthly $192
Driver profile After a DUI
Annual $3,083
Monthly $257
Driver profile After a speeding ticket
Annual $1,878
Monthly $157
Driver profile Young driver (18 to 25)
Annual $2,881
200x200 200x200 200x200 200x200 proximity; --tw-shadow-colored: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-skew-x: 0; --tw-skew-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; border: 0px solid rgb(229, 231, 235); box-sizing: border-box; margin: 0px 0px 12px; scrollbar-color: auto; scrollbar-width: auto; word-break: break-word;">Monthly $240
Driver profile Senior driver
Annual $1,402
Monthly $117
Driver profile Parents adding a teen driver
Annual $2,819
Monthly $235
Driver profile Poor credit
Annual $2,051
Monthly $171
Driver profile After a gap in coverage
Annual $1,972
Monthly $164
Top 10 largest car insurance companies in the U.S.
AP Buyline
INSURANCE
ADVERTISER DISCLOSURE
Top 10 largest car insurance companies in the U.S.
Largest Car Insurance Companies
iStock
AP Buyline’s content is created independently of The Associated Press newsroom. Our evaluations and opinions are not influenced by our advertising relationships, but we might earn commissions from our partners’ links in this content. Learn more about our policies and terms here.
Linsey Knerl
BY LINSEY KNERL
Updated May 13, 2024
In a nutshell
There are dozens of auto insurers around the country ready to cover you in case of an accident or other damage. However, just ten auto insurers make up most of the market. Here's what you should know when comparing the biggest car insurance companies to decide the right one for you.
Car insurance provider Premiums written (in billions) Market share
State Farm
$46.7
16.8%
Progressive
$38.9
14.1%
Geico
$38.1
13.8%
Allstate
$29.6
10.7%
USAA
$16.4
5.9%
Liberty Mutual
$13.7
5.0%
Farmers
$12.6
4.6%
Travelers
$5.8
2.1%
American Family
$5.8
2.1%
Nationwide
$5.5
2.0%
* Source: National Association of Insurance Commissioners, “Property And Casualty Insurance Industry 2022 Top 25 Groups And Companies By Countrywide Premium.” (2023).
State Farm
With the largest market share of any car insurer in the U.S., State Farm makes up 16.8% of total auto policies sold. It sells the standard car insurance policy types in all states but Massachusetts and Rhode Island. It has high customer service marks according to J.D. Powers’ 2023 auto insurance study and a full suite of add-ons, such as roadside assistance and even rideshare insurance. Drivers willing to use Drive Safe & Save technology by having their driving habits tracked in an app or connected car can save up to 30% on their policy pricing.
State Farm
STATE FARM CAR INSURANCE
Am rating
A++
Monthly fee
$107
Premiums
$46.7 billion
Market share
16.8%
Progressive
Second in premiums written only to State Farm with just over 14% of the national car insurance market share, Progressive is most popular in the Upper-Midwest and Texas. The company has a “B” Better Business Bureau rating, and customer feedback is mixed. It is most well known for its commercial featuring the character Flo and offering fair rates to even those with bad credit or past driving record blemishes. It has standard insurance offerings and add-ons like a deductible savings bank. With the Snapshot driving app, policyholders get tracked as they drive and can earn additional savings with responsible habits.
Progressive
PROGRESSIVE CAR INSURANCE
Am rating
A++
Monthly fee
$128
Premiums
$38.9 billion
Market share
14.1%
Geico
The third-largest insurer in our survey balances reliability and affordability for 13.8% of the total car insurance market. It also offers its own tracking app to reward drivers with a discount for safe driving. Its DriveEasy platform is widely available to drivers to help them improve driving habits, detect accidents and even route drivers directly to a claims rep in the case of a crash. Geico's ability to offer low rates to responsible drivers makes it a favorite for those watching their budget.
GEICO
GEICO CAR INSURANCE
Am rating
A++
Monthly fee
$104
Premiums
$38.1 billion
Market share
13.8%
Allstate
Allstate had 10.7% of the U.S. market share in 2022, making it fourth among the largest car insurers. The company offers a claims satisfaction guarantee that reimburses for premium costs if a covered driver isn’t happy with how their claim was handled. New car replacement and accident forgiveness are two of the most popular options available in addition to standard insurance policies. It’s notable for giving drivers a chance to buy gap insurance, which helps meet the cost of paying off a car loan if a vehicle is totaled or stolen.
Allstate
ALLSTATE CAR INSURANCE
Am rating
A++
Monthly fee
$178
Premiums
$29.6 billion
Market share
10.7%
USAA
Available only to veterans, active military members and their families, USAA is known for its affordable rates and its legacy of supporting those in the armed services. Its standard insurance products are available with add-ons like car replacement assistance and rideshare coverage, but it also has policies for classic cars, which aren’t always easy to insure. Its tracking app, called SafePilot, gives discounts to drivers who show competency on the road. This company earns high marks for customer service, according to the J.D. Power 2023 auto insurance study, even as it limits its services to service members.
USAA
USAA CAR INSURANCE
Am rating
A++
Monthly fee
$85
Premiums
$16.4 billion
Market share
5.9%
Liberty Mutual
Liberty Mutual is the sixth-largest insurance company offers a wide range of savings opportunities. From multi-car policies and coverage for students away at college, the available policies can be mixed and matched to meet the unique needs of different families. It also has a tracking app — RightTrack — that qualifies good drivers for discounts on the standard policy pricing. Prices are known to range widely from location to location, so call directly to get an accurate quote for your area before you buy.
Liberty Mutual
LIBERTY MUTUAL AUTO INSURANCE
Am rating
A
Monthly fee
$90
Premiums
$13.7 billion
Market share
5.0%
Farmers Insurance
With loss-of-use coverage, rideshare insurance and other modern add-ons to the standard policy, Farmers has proven itself to meet the changing needs of today's drivers. It uses the Signal app to track drivers' movements and reward them with insurance discounts. However, you have to use this feature only if you’re confident in your safe driving. Using this service can backfire if you prove yourself to be a worse driver than expected (and rates can increase as a result). Farmers is certainly not the cheapest option out there, but its customer service seems to keep customers coming back year after year.
Farmers
FARMERS CAR INSURANCE
Am rating
A
Monthly fee
$173
Premiums
$12.6 billion
Market share
4.6%
Travelers
Owning just 2.1% of the market share, Travelers may not seem to be a power player in the insurance industry. However, it is known for having a full suite of coverage options, including named non-owner coverage — something you don’t find at many companies. Its driver-tracking app is called IntelliDrive, and it can alter premium prices based on driver behavior. The 165-year-old company is a common name in insurance, with plenty of discount opportunities for drivers.
200x250 200x250 200x250 200x250
No comments:
Post a Comment