The Five Largest Homeowners Insurance Companies in the U.S. UU. They are State Farm, Allstate, USAA, Liberty Mutual and Farmers. The top 10 auto insurance companies include State Farm, Geico, Progressive and seven other well-known companies, according to information from the National Association of Insurance Commissioners.
Together, the top 10 companies account for more than 70% of the personal auto insurance policy market. The top 10 auto insurance companies have remained virtually the same over the past decade, and State Farm has consistently maintained the largest market share. Below, you'll find an overview of each of the 10 largest auto insurance companies, including their market share, coverage options, and customer service history. State Farm is the largest provider of private passenger car insurance in the United States and holds 16% of the total available market share.
The company sells policies online and through agents across the country. Coverage is currently available in all states, except Massachusetts and Rhode Island. In addition to auto insurance, State Farm offers insurance for motorcycles, boats, motorhomes and property. For more information, see WalletHub's State Farm insurance review.
Geico insurance has several benefits for policyholders, including 24-hour customer service. For more information, see WalletHub's Geico insurance review. Progressive offers a wide variety of coverage types and discounts that make it a popular option, and the company now covers more than 18 million customers across the country. Drivers have the option to purchase their coverage online, by phone, or through an agent, and the company's online portal makes managing a policy relatively simple.
In addition, Progressive has an A+ rating from the Better Business Bureau, which considers factors such as company transparency and customer complaints. For more information, see WalletHub's progressive insurance review. However, Allstate is rated lower than the NAIC average, which means it has received more customer complaints than other insurance companies of comparable size. For more information, see WalletHub's Allstate insurance review.
USAA's share of the auto insurance market is impressive, as it only sells policies to military service members, veterans and their families. Despite its limited customer base, USAA offers some of the best prices for eligible customers, as well as a wide range of discounts that allow some policyholders to save even more. However, WalletHub's analysis found problems with USAA's customer service, and the company only has a B+ rating from the Better Business Bureau. For more information, see WalletHub's insurance review in the US.
While Liberty Mutual's NAIC customer complaint rating is higher than average, the company has received an A+ rating from the Better Business Bureau, indicating its overall reliability. For more information, see WalletHub's Liberty Mutual insurance review. For more information, see the WalletHub Farmers Insurance review. Nationwide has earned strong ratings from both the NAIC and the Better Business Bureau, making it a reliable and stable company.
Not only does Nationwide offer a wide variety of insurance options in addition to auto coverage, but the company has a relatively simple claims process and an online portal that makes it easy for customers to manage their policies. While Nationwide is one of the largest insurers in the United States, it doesn't issue policies in Alaska, Hawaii, Louisiana, or Massachusetts. For more information, see WalletHub's Nationwide insurance review. American Family only sells policies in 18 states, while several of its main competitors draft policies across the country.
But when available, American Family is a good option for customers looking for a wide range of discounts and a simple claim process. For more information, see WalletHub's American Family Insurance review. Although Travelers has a lower market share than some of its competitors, the company still offers a variety of specialized insurance options and several discounts for customers to take advantage of. In addition, Travelers has an easy to navigate customer portal and a simple online claims process.
When it comes to customer service, Travelers has fewer complaints regarding its size, based on NAIC ratings. For more information, see WalletHub's travel insurance review. The most popular auto insurance companies are State Farm, Geico and Progressive, which offer more than 120 million policies and have a combined market share of 43.1%. These companies are available in all 50 states and the District of Columbia.
The insurance company with the highest customer satisfaction is Geico, according to WalletHub's analysis of factors such as J, D. Boost customer satisfaction ratings and the complaint rate. Geico is also one of the top cheapest insurance companies. Many major insurance providers offer discounts that can help lower the cost of premiums for young drivers.
Companies like Geico and Allstate offer good student discounts to drivers under 25 who maintain at least a B grade point average. Young drivers who take a driver education course or a defensive driving course are also eligible to save. The best car insurance for drivers with points is USAA, AAA and Progressive, based on the quotes of different types of drivers with points. Drivers with points for serious violations are considered high-risk, which means that insurers believe they are likely to file a claim, so they will be charged more as a result.
Because each auto insurance company calculates premiums differently, the easiest way to ensure you get the best possible rate is to compare quotes from several insurers. Auto-Owners sells vehicle insurance for cars, ATVs and ATVs, motorcycles, trailers and boats. With a usage-based insurance policy, the auto insurance company closely tracks your driving and creates a driving score. Geico, known for its animated gecko ads, has insured more than 16 million auto policies, which insure more than 24 million vehicles.
Another 26% said they purchased car insurance coverage every six months, while 25% reported that they only bought once a year. Your insurance company must send this form to the state to verify that you have coverage, but not all insurers provide this service. Optional car insurance add-ons include roadside assistance coverage and rent reimbursement coverage. In addition, taking advantage of any points reduction and insurance program can help improve your driving record and your insurance costs.
If your provider approves your car insurance claim, you will receive payment in the amount of the loss as determined by the company. Like most of the country's largest insurers, it offers comprehensive coverage options, as well as optional coverage, such as protection for uninsured drivers, personal injury protection, and medical payments. This insurance company offers full coverage options, including benefits such as accident forgiveness and replacement of new cars. In fact, it's best to compare quotes and consider changing insurance companies every 6 to 12 months to minimize costs.
Ask your insurance provider what deductible options are available for your coverage policy and see how each of them affects your premium. . .