What are the top 10 auto insurance companies in the United States?
The top 10 auto insurance companies in the USA include State Farm, GEICO, Progressive, Allstate, USAA, Liberty Mutual, Farmers, Nationwide, Travelers, and American Family. State Farm is the top auto insurance company in many states. When you're choosing from the top 10 auto insurance companies in the USA, make sure you compare rates from multiple companies and find one that fits your needs.
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UPDATED: Jan 6, 2022
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- The top 10 auto insurance companies in the United States include State Farm, GEICO, Progressive, Allstate, USAA, Liberty Mutual, Farmers, Nationwide, Travelers, and American Family
- State Farm is the top choice for auto insurance in many states
- To find the best auto insurance company for you, compare quotes from multiple companies and search for one with features that are most important to you
Shopping for auto insurance can be an overwhelming task with numerous options. However, choosing from some of the largest auto insurance companies may be the logical choice since you are likely to hear of them more often and, therefore, gain more opinions from existing customers.
So, what are the top 10 auto insurance companies in the United States? Please read more below to determine what makes each company one of the most popular auto insurance options.
Enter your ZIP code into our free quote comparison tool above to find affordable auto insurance from some of the top auto insurance companies in the United States.
What are the top 10 auto insurance companies in the USA?
Let’s begin by taking a look at the top 10 auto insurance companies in the USA:
|Rank||Companies||Direct Premiums Written||Loss Ratios||Market Shares||A.M. Best Ratings|
|1||State Farm||$41,963,578,000||63||17.01||A++ (Superior)|
|6||Liberty Mutual||$11,776,654,000||62||4.77||A (Excellent)|
|10||American Family||$4,687,909,000||69||1.9||A (Excellent)|
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Most, if not all, of the auto insurance companies listed above are recognizable, due to their advertising and number of customers. However, each state also has a top auto insurance company, which may be more acknowledged than others. Below is a list of the leading auto insurance companies by state:
|State||Top Auto Insurance Company|
|New Mexico||State Farm|
|South Carolina||State Farm|
|West Virginia||State Farm|
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State Farm is favored in many states, which accounts for its #1 spot in the top 10 list of insurance companies in the USA.
Read on below to find out more about each company.
1. State Farm
Overall, State Farm is great for those who desire a personalized experience with a local agent. State Farm owned approximately 16% of the available auto insurance market share in 2020, with approximately 15% of auto insurance dollars spent with State Farm.
State Farm provides affordable rates. For example, the average annual premium is $1,310. The company was often the most affordable option in any given state.
GEICO is one of the most affordable auto insurance companies. In addition, it is available throughout the country. When GEICO was first founded, it provided insurance to government employees (GEICO stands for Government Employee Insurance Company), but now it serves the general public.
The average annual premium from GEICO is $1,917. However, college students may take advantage of GEICO’s low rates and discounts targeted toward young adults.
Progressive was founded in 1937. It allows customers to purchase insurance online, over the phone, or in person with an agent. The average annual premium from Progressive is $2,036, and the company offers reasonable rates for individuals who have been involved in an accident.
That said, claims satisfaction and product availability are average compared to other companies.
Allstate’s auto insurance rates are slightly higher than its competitors. However, it does have higher-than-average claims satisfaction rates, and it offers various discounts to help customers save on their policies. The average annual premium from Allstate is $2,349.
Allstate has local agents throughout the United States. In addition, Allstate is the parent company of Esurance.
USAA is an excellent auto insurance company due to superior customer service, affordable rates, and fast claims processing. However, you can only join if you are a military member or a relative.
USAA was founded by 25 Army officers who worked together to insure each others’ vehicles and has since expanded to provide coverage for millions of military members.
The average annual premium for USAA is $1,170.
6. Liberty Mutual
Liberty Mutual provides affordable auto insurance, but its rates vary more by location than other companies. The average annual premium for Liberty Mutual auto insurance is $1,254.
Liberty Mutual allows customers to purchase insurance over the phone, online, or in-person with a representative or agent. However, Liberty Mutual does have lower-than-average claims satisfaction ratings.
Farmers was founded as a company to insure farming vehicles. However, it has since expanded to a much larger company with various insurance products, including pet insurance and investment products.
Farmers has excellent customer service and several discounts to help save you money, but its rates may be higher than other options. The average annual premium for Farmers is $2,521.
Nationwide has slightly higher rates than its competitors. The average annual premium for Nationwide is $2,127. In addition, its coverages and discounts are standard compared to other large companies. However, its bundling rates for home and auto are some of the best in the industry.
Nationwide emphasizes its annual “On Your Side” reviews to ensure that you receive accurate rates with the discounts you deserve.
Travelers issued its first auto insurance policy in 1897, making it one of the oldest insurance companies in the United States. In addition, Travelers provides various discounts to help its customers save. The average annual premium for Travelers is $2,148.
Travelers provides a usage-based insurance (UBI) program called IntelliDrive that allows drivers to save up to 20% for safe driving habits.
10. American Family
American Family has excellent rates with discounts that make them even better. The average annual premium for American Family is $1,755. Initially founded to provide insurance for farmers, the company expanded its customer base in the 1930s.
While American Family has its advantages, it only offers products in 17 states.
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What is the best auto insurance company?
The best car insurance company will vary widely depending on your specific situation. You should shop around and compare options to ensure that you receive the best rates and personalized coverage. Start by obtaining auto insurance quotes from at least three different companies, including national and regional options.
Ensure that you select an auto insurance company with the features you need. For example, if you’re a college student, you may want to find a company that provides discounts for good students and young adults. Or, if you are worried that your car might break down, consider finding a company that offers roadside assistance.
Want to compare auto insurance rates from some of the top auto insurance companies in the United States? Enter your ZIP code into our free quote comparison tool below.