A+ Auto Insurance Companies

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Numerous car insurance companies exist nationwide.

To choose one, consider coverage and discounts.

MarketWatch Guides reviewed and compared the top 10 providers.

Key points include State Farm, Progressive, and Geico as the largest in 2022, Nationwide offering affordable coverage, and Travelers ranking eighth nationally despite being a top choice for most drivers.

An image illustration of A + Auto Insurance Companies
A + Auto Insurance Companies
Source: (freepik)

Car Insurance Companies by Size

Outlined below is a ranking of the largest car insurance companies in the nation.

It is based on premiums written in 2022, as per the National Association of Insurance Commissioners.

Includes annual cost averages for 35-year-old drivers with good records.

Covers full-coverage policies with specific limits and a $500 deductible, with a comparison to the overall average cost of $2,008 per year.

Car Insurance Provider

Premiums Recorded in 2023 (in billions) Average Yearly Expense

1 State Farm 46.6 $1,657

2 Progressive 38.9 $2,030

3 Geico 38.1 $1,596

4 Allstate 29.6 $2,598

5 USAA 16.4 $1,512

Auto Insurance Organizations

The roster of car insurance companies mentioned excludes agencies.

Insurance companies are responsible for offering coverage and underwriting policies, whereas agencies sell policies on behalf of insurance companies.

The distinction between the two can be unclear, as both extend insurance options to customers.

Independent agencies can be valuable to engage with, as they facilitate straightforward comparisons between various companies on your behalf.

What Are the Top 10 Car Insurance Companies?

As per the NAIC, the leading car insurance companies include:

  1. State Farm
  2. Progressive
  3. Geico
  4. Allstate
  5. USAA
  6. Liberty Mutual
  7. Farmers
  8. Travelers
  9. American Family Insurance
  10. Nationwide

In 2022, these companies collectively represented more than 77% of all car insurance premiums written in the nation.

How to Choose the Best Car Insurance Company

Consider your vehicle’s value, preferences, and budget.

Decide if you prioritize customer service, affordability, or local agents.

Factors to consider:

  1. Evaluate your vehicle’s worth: Basic liability coverage may suffice for a car worth under $5,000, but full coverage is necessary for pricier or financed vehicles.
  2. Shop around: Compare quotes from various providers using online tools, calls, and brokers for a comprehensive overview.
  3. Seek relevant discounts: Explore discounts tailored to your profile, such as student or military discounts.
  4. Ensure fair comparisons: Compare identical insurance types and limits for accurate evaluations.
  5. Bundle coverage: Save money by consolidating car insurance with other policies like homeowners or renters insurance from the same provider.

Frequently Asked Questions

  1. Which car insurance company holds the top position?
  2. What are the leading five car insurance companies?
  3. Which company dominates in car insurance sales?
  4. What are the primary three types of car insurance?
An image illustration of A + Insurance Companies
A + Insurance Companies
Source: (freepik)

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