The major car insurance companies in the US continue to lead the market, endorsing over 75% of the country’s auto policies. This is according to the latest market share data released by the National Association of Insurance Commissioners (NAIC). The figure is equivalent to slightly over $213.1 billion in direct written premiums, which is a 14.5% increase from the previous year.
Despite the dominance of a few major players, these insurance giants still offer a diverse range of products, benefits, and services to their customers. To give insurance buyers a better understanding of what the top car insurers offer, we have ranked the largest auto insurance companies in the US in this article. We will also provide a rundown of the different policies you can access from these insurers and how these companies fare in terms of customer experience.
The Major Car Insurance Companies in the US are:
- State Farm
State Farm is the largest car insurance provider in the US, with a market share of 16.8%. The company offers a wide range of policies, including liability, collision, comprehensive, and medical coverage. State Farm is also known for its competitive rates and customer-friendly service.
Geico is the second-largest car insurance provider in the US, with a market share of 14%. The company is known for its low-cost policies and its extensive advertising campaign. Geico also offers a variety of discounts, such as discounts for good driving habits and for bundling your home and auto insurance policies.
Progressive is the third-largest car insurance provider in the US, with a market share of 13.8%. The company is known for its usage-based insurance program, which allows drivers to save money by tracking their driving habits. Progressive also offers a variety of other discounts, such as discounts for anti-theft devices and for having a clean driving record.
Allstate is the fourth-largest car insurance provider in the US, with a market share of 10.8%. The company offers a variety of policies, including liability, collision, comprehensive, and medical coverage. Allstate is also known for its customer service and its claims handling process.
USAA is a military-only insurance company that offers a variety of car insurance policies. The company is known for its high-quality customer service and its competitive rates. USAA can only be claimed by military-related individuals, though.
Other Relevant Insurance Providers
The other relevant insurance providers in the US include Liberty Mutual, Farmers Insurance, Nationwide, American Family Insurance, and Travelers. These companies all offer a variety of policies and discounts, and they have a good reputation for customer service.
How to Choose the Best Car Insurance Provider for You
When choosing a car insurance provider, it is important to consider your individual needs and budget. Some factors to consider include the type of coverage you need, your driving record, and your budget. You should also compare quotes from different providers to get the best possible deal.
Here are some tips for choosing the best car insurance provider for you:
- Get quotes from multiple providers.
- Compare the different types of coverage offered.
- Consider your driving record and budget.
- Read reviews from other customers.
- Choose a provider with a good reputation for customer service.
By following these tips, you can choose the best car insurance provider for your needs and budget.