High 10 automobile insurance coverage suppliers within the US

The highest 10 automobile insurance coverage suppliers within the US proceed to dominate the market, underwriting greater than three-quarters (77%) of the nation’s auto insurance policies, the most recent market share knowledge launched by the Nationwide Affiliation of Insurance coverage Commissioners (NAIC) has revealed. The determine is equal to barely over $213.1 billion in direct written premiums – a 14.5% improve from the earlier yr.

However regardless of solely a handful of main gamers controlling the auto insurance coverage sector, these insurance coverage giants nonetheless present shoppers a various vary of merchandise, advantages, and providers.

To provide insurance coverage consumers an image of what the nation’s high automobile insurers supply when it comes to protection, Insurance coverage Enterprise ranks the biggest auto insurance coverage corporations on this article. We may also offer you a rundown of the totally different insurance policies you possibly can entry from these insurers and the way these corporations fare when it comes to buyer expertise. Listed here are the highest 10 automobile insurance coverage suppliers within the US ranked in response to market share.

Direct premiums written: $46.7 billion

Purchasing expertise score: 877 out of 1,000-point scale

Claims satisfaction score: 882 out of 1,000-point scale

State Farm is the biggest automobile insurance coverage supplier within the US, accounting for nearly 17% of the general market. The determine is equal to over $8 billion extra in direct written premiums in comparison with the next-ranked insurer. State Farm’s community of greater than 19,200 native brokers additionally implies that drivers can simply entry its insurance policies wherever they’re within the nation – nicely nearly, because the firm is now not writing insurance policies in Massachusetts and Rhode Island.

State Farm is thought for providing charges which are under the business common, whatever the demographic. This consists of seniors, policyholders with named teenagers, and even drivers with previous accidents and dashing violations. Along with this, you possibly can entry a spread of low cost choices, together with:

• Drive Protected & Save: Means that you can save as much as 30% in annual premiums relying on how safely you drive by signing up for the cellular app.
• Steer Clear: Permits new drivers or these aged 25 and underneath to chop yearly premiums by as much as 20% in the event that they don’t have any at-fault accidents or transferring violations prior to now three years.

State Farm additionally ranks extremely when it comes to buying expertise and claims satisfaction, partly due to its user-friendly web site and cellular app, the place policyholders can request quotes, pay premiums, and file claims.  

2. Progressive

Market share: 14%

Direct premiums written: $38.9 billion

Purchasing expertise score: 853

Buyer satisfaction score: 861

The nation’s second-largest automobile insurance coverage supplier affords an array of coverages, a few of which aren’t accessible from lots of its opponents, together with hole insurance coverage and veterinary bills protection for pets injured in an accident. This additionally permits policyholders to customise insurance policies to go well with their distinctive wants.

Progressive sits on the center of the pack in relation to annual premiums, however policyholders can entry a variety of reductions to slash charges. These embrace the Snapshot protected driver low cost, which personalizes your fee based mostly in your driving habits by means of a cellular app. The insurer, nonetheless, ranks under the business common when it comes to buyer expertise and claims satisfaction.

3. GEICO

Market share: 13.8%

Direct premiums written: $38.1 billion

Purchasing expertise score: 857

Claims satisfaction score: 874

GEICO is thought for providing aggressive charges not only for drivers with a clear report, but additionally for motorists who’ve poor credit score, a dashing ticket, or these caught driving uninsured. It’s a fairly costly possibility, nonetheless, for drivers with a DUI report. 

GEICO policyholders also can entry a spread of useful further options, together with accident forgiveness and a usage-based insurance coverage program that may assist cut back premiums for protected drivers. The Berkshire Hathaway subsidiary has a user-friendly web site and sturdy cellular app, which allow prospects to get a quote, monitor billing, and handle their insurance policies on-line.

GEICO automobile insurance coverage insurance policies can be found in all 50 states. Nevertheless, the insurer doesn’t have an intensive community of native brokers, so if you happen to’re a type of preferring working immediately with brokers, you will have issue discovering one relying on the place you reside.

Direct premiums written: $29.6 billion

Purchasing expertise score: 853

Claims satisfaction score: 889

One of many largest automobile insurance coverage suppliers within the US, Allstate affords a spread of useful protection choices not sometimes accessible from lots of its business opponents, together with:

• Accident forgiveness
• Disappearing deductible
• Hole insurance coverage
• New automobile substitute
• Rideshare insurance coverage (in most states)

Allstate additionally has a complete lineup of reductions, which embrace:

• Early Signing Low cost: if you happen to signal your coverage at the least seven days earlier than its efficient date
• Accountable payer low cost: if you happen to didn’t obtain any cancellation notices for non-payment within the earlier cycle
• EZ pay plan low cost: if you happen to arrange automated withdrawal for premiums funds
• eSmart low cost: if you happen to go paperless by signing up for ePolicy

Allstate has a superb monitor report in relation to claims dealing with as mirrored in its above-average buyer satisfaction score. This helps offset automobile insurance coverage charges which are typically dearer than its opponents.  

5. USAA

Market share: 5.9%

Direct premiums written: $16.4 billion

Purchasing expertise score: 874

Claims satisfaction score: 890

USAA boasts among the many highest buyer expertise and declare satisfaction scores of all of the automobile insurance coverage corporations on our listing. The specialist insurer, nonetheless, solely affords protection for veterans and lively members of the army, and their fast households.

USAA offers aggressive charges to all kinds of drivers, together with teenagers, seniors, and people concerned in accidents and site visitors violations. Its big selection of reductions permits policyholders to slash premiums additional. USAA affords the usual coverages accessible from different insurers, however it additionally has a lineup of high quality add-ons, together with accident forgiveness, automobile substitute help, and rideshare insurance coverage.

Direct premiums written: $13.7 billion

Purchasing expertise score: 865

Claims satisfaction score: 870

Liberty Mutual is a good possibility for drivers preferring a web-based expertise over working with an insurance coverage agent. Among the many advantages of selecting the mutual insurer as your automobile insurance coverage supplier is that you’re given entry to its user-friendly web site, together with its complete choice of jargon-free assets concerning your protection. You can even obtain the Liberty Mutual cellular app, the place you possibly can handle your coverage digitally. These are among the many principal the reason why the corporate has the second-highest buying expertise rating of all giant insurers featured within the listing. 

Liberty Mutual’s charges, nonetheless, are comparatively larger in comparison with its business rivals, whereas its claims satisfaction score is under the business common. However the insurer makes up for this by providing prospects a variety of protection choices and reductions, which embrace a lowering deductible for yearly with no declare. 

Direct premiums written: $12.6 billion

Purchasing expertise score: 846

Claims satisfaction score: 882

Annual premiums for Farmers’ auto insurance coverage insurance policies are typically on the excessive facet in comparison with these of the opposite high automobile insurance coverage suppliers within the US. Charges are much more costly for younger and senior drivers. And whereas Farmers ranks among the many high auto insurers in relation to claims satisfaction, it has one of many lowest buying expertise rankings.

Excessive charges and insurance coverage buying apart, Farmers affords a spread of coverages which will show useful after a collision, together with accident forgiveness and new automobile substitute. Lyft and Uber drivers, in the meantime, can improve their protection with rideshare insurance coverage.

Direct premiums written: $5.8 billion

Purchasing expertise score: 848

Buyer satisfaction score: 854

Vacationers is likely one of the a number of automobile insurance coverage suppliers within the US identified for providing aggressive premiums. Charges are additionally comparatively low-cost for motorists with DUI on their data, though including a teen driver can push up quotes.

Policyholders have loads of coverages to select from. Among the many standout options of Vacationers’ insurance policies are accident and minor violation forgiveness, and a usage-based insurance coverage program that rewards protected drivers with reductions. Vacationers additionally affords rideshare insurance coverage however solely in a number of states. One other disadvantage is that the insurer has under common scores in each claims satisfaction and buyer expertise.

9. American Household

Market share: 2.1%

Direct premiums written: $5.8 billion

Purchasing expertise score: 867

Claims satisfaction score: 874

American Household has above common scores in claims satisfaction and buying expertise. In comparison with many business rivals, it additionally boasts a extra complete portfolio, which incorporates OEM protection, rideshare insurance coverage, diminishing deductibles, and accident forgiveness. American Household offers a variety of reductions like its KnowYourDrive program, which reduces the charges of protected drivers.

American Household automobile insurance coverage, nonetheless, is out there solely in 19 states. Its charges are additionally dearer that these of its opponents.

Direct premiums written: $5.5 billion

Purchasing expertise score: 861

Claims satisfaction score: 868

Nationwide charges could be comparatively cheap, however it will depend on the kind of driver you might be. Similar to with most automobile insurance coverage suppliers within the US, protected drivers with a clear report can entry aggressive charges from Nationwide. Drivers with poor credit score also can get cheaper charges however motorists with DUI are in for larger premiums. Typically, Nationwide charges are dearer than most of its opponents.

The insurer, nonetheless, offers an intensive listing of coverages and useful add-ons. These embrace usage-based and pay-per-mile choices for many who need to doubtlessly save on insurance coverage prices. Nationwide’s buying expertise rating is at a par with the business common, though claims satisfaction score is a bit low. Nationwide’s automobile insurance coverage insurance policies are additionally not accessible nationwide. It doesn’t promote insurance policies in Alaska, Hawaii, Louisiana, and Massachusetts.

The rankings are based mostly on the most recent market share knowledge that NAIC launched. The listing is organized in response to total market share, which additionally displays every firm’s direct written premiums. To provide readers a clearer image of the kind of service every auto insurer offers, we included the scores from the newest insurance coverage buying expertise and claims satisfaction survey J.D. Energy performed. We additionally included the businesses’ monetary power rankings from A.M. Greatest. 

Right here’s a abstract of the highest 10 automobile insurance coverage suppliers within the US.

Nearly all states require motorists to hold automobile insurance coverage to have the ability to legally function a automobile. The one exception is New Hampshire. For those who’re caught driving with out insurance coverage, you could be slapped with a hefty high-quality and have your future eligibility for acquiring protection affected. 

The kinds of protection required, nonetheless, fluctuate in every state, though there are specific similarities. The desk under particulars the most typical kinds of insurance policies drivers have to take out, in response to the Insurance coverage Data Institute (Triple-I).

Whether or not your automobile insurance coverage charges will probably be on the cheaper or dearer facet will depend on the dangers you current as a driver. To find out how a lot a motorist ought to pay in premiums, automobile insurers have a look at a spread of things, together with:

Right here’s an estimate of how a lot the typical annual premiums value from the highest 10 automobile insurance coverage suppliers within the US. Your charges could also be considerably larger or decrease relying on a spread of danger components, together with these listed above.

Our Greatest in Insurance coverage Particular Studies web page is the primary place you might want to try if you happen to’re trying to find the automobile insurance coverage suppliers within the US that supply one of the best protection. The insurers featured in our particular stories have been chosen by their friends and vetted by our group of consultants as dependable and trusted leaders within the business. By selecting these corporations, you possibly can make sure that you’re getting the proper safety that fits your distinctive wants.

The automobile insurance coverage market is continually evolving, and adjustments can occur with out warning. For those who don’t need to get neglected of the most recent business developments, you should definitely go to and bookmark our Motor & Fleet part. Right here, you possibly can hold abreast of the most recent business information and updates. 

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