To help you find the best car insurance companies, we researched some of the most popular and highest-rated auto insurance providers. You can start your car insurance shopping journey by evaluating these providers, which offer nationwide coverage and have good ratings in most categories. You should also get several car insurance quotes to see which carrier is the most affordable option for you.
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If you’re in the market for car insurance, choosing the best company can be difficult. There are hundreds of auto insurance companies, but they’re not all the same. Some companies have better prices, more coverage options, or better customer service than others. When shopping for car insurance, it’s important to compare multiple providers to find the best option for you.
The top five car insurance companies by market share are State Farm, Geico, Progressive, Allstate, and USAA. These companies underwrite the largest number of car insurance policies on an annual basis, according to data from the National Association of Insurance Commissioners (NAIC). But while these are some of the most popular car insurance companies, it does not mean they are the best providers for everyone.
State Farm is the largest car insurance company in the U.S., with almost 16% of the total market share. State Farm has an A++ rating for financial strength from AM Best and is rated above average for overall customer satisfaction by J.D. Power in multiple regions.
State Farm is well known for its generous car insurance discounts, with savings for bundling your home and auto insurance, taking a defensive driving course, being a smart student, being a safe driver, and several others.
However, State Farm doesn’t offer as many add-on coverages as other companies, which is something to consider if you want to customize your policy.
Geico, which is owned by Berkshire Hathaway, is the second-largest car insurance company in the country, with just over 14% of the total market share. Data shows that Geico has one of the biggest advertising budgets of all insurers, which is why you’re probably familiar with its famous TV commercials that claim, “15 minutes could save you 15% or more on car insurance.”
Geico has impressive third-party ratings from AM Best and J.D. Power, and it offers lots of car insurance discounts. There are savings for federal employees, military personnel, safe drivers, smart students, wearing your seat belt, and many others. But like State Farm, Geico offers very few add-on coverages.
Progressive is another car insurance company that spends big dollars on advertising. The company’s mascot, Flo, can be seen in TV ads explaining to drivers how Progressive can help them save money on car insurance.
Compared to other insurance companies, Progressive has some of the best online tools, like the Name Your Price tool and AutoQuote Explorer℠ tool.
Progressive’s overall customer satisfaction ratings from J.D. Power are mixed, ranking above average and below average depending on the region. However, Progressive does have excellent discounts and several endorsements for added coverage, including gap insurance, custom parts coverage, roadside assistance, and a few others.
As of 2021, Allstate has roughly 10.4% of the total car insurance market share. The company also has one of the biggest advertising budgets (behind Geico and Progressive) and is known for its signature TV commercial tagline, “You’re in good hands®.”
In terms of third-party ratings, Allstate falls short compared to some of the other biggest car insurance companies. Allstate is rated below average for customer satisfaction by J.D. Power in several regions.
The company does offer a good selection of discounts, as well as a handful of endorsements available if you want to customize your policy.
USAA is widely considered to be one of the best car insurance companies. It has the highest rating for customer satisfaction by J.D. Power in every region and it has an A++ financial stability score from AM Best.
The catch with USAA is that you can only purchase insurance if you’re an enlisted military member, a veteran, or the immediate family member of an active duty or retired servicemember.
Out of the most popular car insurance providers, USAA offers some of the best discounts. There are savings for good students, safe drivers, garaging your vehicle on a military base, driving under a certain annual mileage, having a clean driving record, and others. In addition, USAA members can access exclusive travel, home, and shopping discounts through the USAA Perks™ program.
There are plenty of other popular car insurance companies you can add to your search. Here are some of the other top companies by market share:
| 1 | Liberty Mutual | 8 | Erie |
|---|---|---|---|
| 2 | Farmers | 9 | Auto-Owners |
| 3 | Nationwide | 10 | CSAA |
| 4 | American Family | 11 | Mercury |
| 5 | Travelers | 12 | Hartford |
| 6 | Kemper | 13 | Mapfire |
| 7 | AAA | 14 | Hanover |
Aided by the increase in popularity of telematics, insuretechs are gaining traction in the US and are stealing some of the spotlight away from the most well-known car insurance companies. These companies calculate their rates differently than the traditional companies and are becoming more and more popular among nonstandard drivers.
Some popular insuretechs include Mile Auto and Metromile, which both offer a pay-per-mile car insurance model, and Root Insurance, which uses telematics to generate quotes based on driving habits.
There are many different types of car insurance. Some are required, while others are optional. The five largest car insurance companies we reviewed offer minimum coverage and full coverage policies, depending on your coverage needs. Here are the three main types of car insurance you can get from these carriers:
In addition to these policies, there are lots of other optional coverages that can provide more protection. For example, many insurance companies sell accident forgiveness, roadside assistance, gap insurance, new car replacement coverage, rental car coverage, and others.
Looking at the data, State Farm is the most popular car insurance company nationwide, because it has the biggest portion of the market share. However, that does not mean that State Farm is the best car insurance company for every driver.
Before purchasing a car insurance policy, it’s important to compare a few different companies and get quotes to see which one can give you the lowest rate for the type and amount of coverage you need. To get started, you can take our 30-second quiz to compare your best matches.
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