The Top Ten Largest Auto Insurance Companies of 2019
The automotive vehicle insurance market within the U.S. is dominated by many key players. The highest 10 automotive vehicle insurance corporations management quite seventy-two of the market. whereas the highest 10 insurance corporations underwrite an outsized variety of policies, they need distinct characteristics. to assist you select the simplest nondepository financial institution for your state of affairs, {we|we have a 10dency to|we tend to} created an inventory of the highest ten largest automotive vehicle insurance corporations within the U.S. and discuss what makes every of them distinctive.
What are the most important automotive vehicle Insurance Companies?
Big vs. little Insurance corporations
Rank Auto Insurance Company Premiums Written ($bn) Market Share
1. State Farm $41.8 18%
2.GEICO $29.6 13%
3. Progressive $22.8 10%
4. Allstate $21.4 9%
5. USAA $13.2 6%
6. Liberty Mutual $11.6 5%
7. Farmers $10.4 4%
8. Nationwide $7.3 3%
9. Travelers $4.4 2%
10. American Family $4.4 2%
What are the most important automotive vehicle Insurance Companies?
When gazing at the rankings of the highest automotive vehicle insurance corporations within the us, most of the names are recognizable thanks to their national tv advertising campaigns. the highest 10 insurance corporations provide varied insurance rates, client claims expertise and options. {we|we have a 10dency to|we tend to} discuss the highest ten biggest automotive vehicle insurance corporations within the U.S. and what you ought to understand every of them below:
1. State Farm
State Farm operates as a mutual nondepository financial institution, that means that it’s in hand by its policyholders. State Farm is that the largest automotive vehicle nondepository financial institution within the U.S. and possesses eighteen of the entire out there market share. Nearly one in 5 bucks spent on non-public rider automotive vehicle premiums within the U.S. is paid to State Farm. the corporate presently employs more or less seventy,000 workers and has nearly nineteen,000 agents. Following its giant market share, State Farm’s latest annual report shows an internet gain of over $1.7 billion.
Our Thoughts: State Farm may be a nice automotive vehicle nondepository financial institution for anyone WHO needs an area agent and customized insurance expertise. However, State Farm doesn’t generally provide drivers the foremost competitive rates. If you wish or want a curated expertise, and are willing to get it, State Farm may be a nice alternative.
2. GEICO
GEICO, standard for its animated lizard, has served as Associate in Nursing underwriter to quite sixteen million automotive vehicle policies, that insure quite twenty-four million vehicles. The company’s size permits it to use quite thirty-six,000 folks across 9 regional offices, 3 service centers and 3 claims centers. GEICO’s original client base consisted of U.S. government workers and military personnel. Today, the insurance company’s client base has swollen to incorporate folks within the non-public sector.
Our Thoughts: we tend to think about GEICO to be one in every of the simplest automotive vehicle insurance corporations. GEICO offers low rates, national accessibility, and straightforward looking expertise. If you’ve had a previous accident, however, you’ll possible receive unfavorable rates from GEICO.
3. Progressive
Progressive—the third biggest nondepository financial institution within the country—was established in 1937. the corporate offers the power to get automotive vehicle insurance directly, on-line or by phone. instead, customers will sign on through freelance insurance agents. the corporate employs over thirty-three,000 folks and has over four hundred offices. Progressive may be a publically listed company.
Our Thoughts: Progressive offers extremely competitive rates to drivers with previous accidents. However, claims satisfaction ratings and coverage choices are average at the best. thanks to this, we tend to suggest for prospective Progressive customers to buy around and compare rates before language up for coverage.
4. Allstate
Established in 1931, Allstate is that the second-largest publically listed property and casualty nondepository financial institution in America. just like State Farm, Allstate contains a roll of native agents able to serve your wants. the corporate presently employs over seventy-nine,000 people. Esurance, a subsidiary of Allstate, operates within the same house. in step with Allstate, the Esurance whole is targeted towards autonomous and brand-sensitive customers whereas Allstate is back-geared for patrons WHO fancy native and private service.
Our Thoughts: we tend to think about Allstate to be a middle-of-the-road nondepository financial institution thanks to its high rates and average claims satisfaction ratings. Allstate’s redeeming factors ar the wide selection of discounts that it makes out there to its customers.
5. USAA
USAA was based on twenty-five Army officers WHO determined to insure every other’s vehicles in 1922. Today, the corporate serves innumerable members related to the U.S. military, including:
USAA is headquartered in San Antonio, Texas. the company campus’ length extends three-quarters of a mile. USAA is the largest non-public company situated in San Antonio.
Our Thoughts: USAA is one in every of the simplest automotive vehicle insurance corporations within the country. If you meet their qualification criteria, you’ll fancy competitive rates, nice client service, and speedy claims responses. the sole drawback of USAA is its restricted membership.
6. Liberty Mutual
Liberty Mutual is one in every of the highest insurance corporations within the U.S. and has been around for over a hundred years. Liberty Mutual conjointly has giant international presence—with operations in seventeen countries. The international corporations sell property and casualty, health and insurance policies. The automotive vehicle insurance trade may be a giant a part of Liberty Mutual’s business, representing twelve months of their internet written premium from insurance as of their latest annual report.
Our Thoughts: Liberty Mutual may be a mediocre nondepository financial institution. The aggressiveness of Liberty Mutual’s automobile insurance rates can rely upon your geographic location. whereas usually|this can be} often true with most insurers, Liberty Mutual’s rates vary quite typical. additionally, Liberty Mutual’s customers rank the insurance company’s claims satisfaction method as below average.
7. Farmers
Farmers began as Associate in Nursing nondepository financial institution providing coverage to rural farmers’ vehicles. Since then it's evolved to become the seventh-largest nondepository financial institution within the country. It’s exhausting to search out Associate in Nursing nondepository financial institution that provides additional merchandise than Farmers.
It offers basic automotive vehicle insurance, pet insurance, and even investment merchandise among a range of different insurance merchandise. Farmers employs nearly twenty-one,000 people, which permit it to underwrite over nineteen million policies across fifty states.
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| The Top Ten Largest Auto Insurance Companies of 2019 |
Big vs. little Insurance corporations
Rank Auto Insurance Company Premiums Written ($bn) Market Share
1. State Farm $41.8 18%
2.GEICO $29.6 13%
3. Progressive $22.8 10%
4. Allstate $21.4 9%
5. USAA $13.2 6%
6. Liberty Mutual $11.6 5%
7. Farmers $10.4 4%
8. Nationwide $7.3 3%
9. Travelers $4.4 2%
10. American Family $4.4 2%
What are the most important automotive vehicle Insurance Companies?
When gazing at the rankings of the highest automotive vehicle insurance corporations within the us, most of the names are recognizable thanks to their national tv advertising campaigns. the highest 10 insurance corporations provide varied insurance rates, client claims expertise and options. {we|we have a 10dency to|we tend to} discuss the highest ten biggest automotive vehicle insurance corporations within the U.S. and what you ought to understand every of them below:
1. State Farm
State Farm operates as a mutual nondepository financial institution, that means that it’s in hand by its policyholders. State Farm is that the largest automotive vehicle nondepository financial institution within the U.S. and possesses eighteen of the entire out there market share. Nearly one in 5 bucks spent on non-public rider automotive vehicle premiums within the U.S. is paid to State Farm. the corporate presently employs more or less seventy,000 workers and has nearly nineteen,000 agents. Following its giant market share, State Farm’s latest annual report shows an internet gain of over $1.7 billion.
Our Thoughts: State Farm may be a nice automotive vehicle nondepository financial institution for anyone WHO needs an area agent and customized insurance expertise. However, State Farm doesn’t generally provide drivers the foremost competitive rates. If you wish or want a curated expertise, and are willing to get it, State Farm may be a nice alternative.
2. GEICO
GEICO, standard for its animated lizard, has served as Associate in Nursing underwriter to quite sixteen million automotive vehicle policies, that insure quite twenty-four million vehicles. The company’s size permits it to use quite thirty-six,000 folks across 9 regional offices, 3 service centers and 3 claims centers. GEICO’s original client base consisted of U.S. government workers and military personnel. Today, the insurance company’s client base has swollen to incorporate folks within the non-public sector.
Our Thoughts: we tend to think about GEICO to be one in every of the simplest automotive vehicle insurance corporations. GEICO offers low rates, national accessibility, and straightforward looking expertise. If you’ve had a previous accident, however, you’ll possible receive unfavorable rates from GEICO.
3. Progressive
Progressive—the third biggest nondepository financial institution within the country—was established in 1937. the corporate offers the power to get automotive vehicle insurance directly, on-line or by phone. instead, customers will sign on through freelance insurance agents. the corporate employs over thirty-three,000 folks and has over four hundred offices. Progressive may be a publically listed company.
Our Thoughts: Progressive offers extremely competitive rates to drivers with previous accidents. However, claims satisfaction ratings and coverage choices are average at the best. thanks to this, we tend to suggest for prospective Progressive customers to buy around and compare rates before language up for coverage.
4. Allstate
Established in 1931, Allstate is that the second-largest publically listed property and casualty nondepository financial institution in America. just like State Farm, Allstate contains a roll of native agents able to serve your wants. the corporate presently employs over seventy-nine,000 people. Esurance, a subsidiary of Allstate, operates within the same house. in step with Allstate, the Esurance whole is targeted towards autonomous and brand-sensitive customers whereas Allstate is back-geared for patrons WHO fancy native and private service.
Our Thoughts: we tend to think about Allstate to be a middle-of-the-road nondepository financial institution thanks to its high rates and average claims satisfaction ratings. Allstate’s redeeming factors ar the wide selection of discounts that it makes out there to its customers.
5. USAA
USAA was based on twenty-five Army officers WHO determined to insure every other’s vehicles in 1922. Today, the corporate serves innumerable members related to the U.S. military, including:
- Current Military Members
- Former Military Members
- Family of Military Members
- Cadets or Midshipmen
USAA is headquartered in San Antonio, Texas. the company campus’ length extends three-quarters of a mile. USAA is the largest non-public company situated in San Antonio.
Our Thoughts: USAA is one in every of the simplest automotive vehicle insurance corporations within the country. If you meet their qualification criteria, you’ll fancy competitive rates, nice client service, and speedy claims responses. the sole drawback of USAA is its restricted membership.
6. Liberty Mutual
Liberty Mutual is one in every of the highest insurance corporations within the U.S. and has been around for over a hundred years. Liberty Mutual conjointly has giant international presence—with operations in seventeen countries. The international corporations sell property and casualty, health and insurance policies. The automotive vehicle insurance trade may be a giant a part of Liberty Mutual’s business, representing twelve months of their internet written premium from insurance as of their latest annual report.
Our Thoughts: Liberty Mutual may be a mediocre nondepository financial institution. The aggressiveness of Liberty Mutual’s automobile insurance rates can rely upon your geographic location. whereas usually|this can be} often true with most insurers, Liberty Mutual’s rates vary quite typical. additionally, Liberty Mutual’s customers rank the insurance company’s claims satisfaction method as below average.
7. Farmers
Farmers began as Associate in Nursing nondepository financial institution providing coverage to rural farmers’ vehicles. Since then it's evolved to become the seventh-largest nondepository financial institution within the country. It’s exhausting to search out Associate in Nursing nondepository financial institution that provides additional merchandise than Farmers.
It offers basic automotive vehicle insurance, pet insurance, and even investment merchandise among a range of different insurance merchandise. Farmers employs nearly twenty-one,000 people, which permit it to underwrite over nineteen million policies across fifty states.
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