When shopping for a car insurance company, many drivers look for the largest carriers on the market. But with nearly 2,500 property and casualty insurance companies, finding the best of the biggest providers can be challenging.
If you’re looking for a reputable, widely-available car insurance company, keep reading to learn about our top picks of the biggest auto insurance companies (based on market share). We’ll also review the pros and cons of the top 10 biggest providers, and explain how you can choose the right auto insurance carrier for your needs and budget.
What are the largest auto insurance companies?
To find the biggest car insurance companies, we looked at the National Association of Insurance Commissioners’ (NAIC) Top 25 U.S. Private Passenger Auto Insurers report. These car insurance companies have the largest market share in terms of the number of direct premiums written and respective coverage area
Major insurance companies typically offer cheaper rates, better coverage options and more discounts than local and regional carriers because policyholder risk is less dependent on regionally-specific risk factors. These companies are also more likely to offer online quotes, online claim filing and a mobile app. Choosing a provider with a wide coverage area makes it easy to keep your policy throughout your lifetime, even if you move states.
Here are the 10 largest auto insurance companies based on market share and the number of direct premiums written (represented here in total value) in 2019:
- State Farm: $40,878,781,217
- Geico: $34,892,003,836
- Progressive: $31,025,771,905
- Allstate: $23,626,742,688
- USAA: $15,231,169,153
- Liberty Mutual: $11,701,810,697
- Farmers: $10,533,343,298
- Nationwide: $6,245,587,637
- Kemper: $3,379,883,007
- MetLife: $2,467,219,347
All insurance companies
The table below includes a list of all insurance companies that appeared in NAIC’s top 25 car insurance carrier report. Keep in mind that this list is not comprehensive. There are other large insurance companies on the market, but they may serve a smaller coverage area or write fewer direct premiums.
| 21st Century Insurance | Direct Auto Insurance | NJM Auto Insurance |
| AAA | Erie Insurance Group | Progressive |
| AARP | Esurance | Root Insurance |
| Allied Insurance | Farm Bureau | Safe Auto Insurance Company |
| Allstate | Farmers Insurance Group | Safeco |
| American Family Insurance | Geico | Sentry Insurance |
| Ameriprise | Good2Go Auto Insurance | Shelter |
| Amica Mutual Insurance | Kemper Insurance | State Farm |
| Auto-Owners Insurance | Liberty Mutual | The General |
| Auto Club Enterprises | MAPFRE Insurance | The Hanover Insurance Group |
| Automobile Club MI Group | Mercury Insurance | The Hartford |
| CSAA Insurance Exchange | MetLife | Travelers |
| Country Financial | National General Insurance | United Auto Insurance |
| CURE Auto Insurance | Nationwide | USAA |
State Farm auto insurance overview
In 2019, State Farm wrote $40,878,781,217 in direct premiums, making it the largest private passenger insurance company in the country. State Farm is a well-known and reputable insurance company, with over 100 years of experience and excellent financial strength ratings.
GEICO auto insurance overview
GEICO is a popular insurance company for drivers who want affordable rates. The coverage options are fairly limited, but drivers can take advantage of multiple discount opportunities. GEICO, which is owned by Berkshire Hathaway, wrote $34,892,003,836 in direct premiums in 2019.
Progressive auto insurance overview
Progressive is the third-largest car insurance company, with $31,025,771,905 in direct premiums. Many drivers know of Progressive’s Snapshot program, which rewards safe drivers with a lower rate. Progressive also offers customizable coverage, including rideshare insurance.
Allstate auto insurance overview
Allstate wrote $23,626,742,688 in direct premiums in 2019. Many drivers choose Allstate because of the combination of its typically-affordable rates and good discounts. Allstate also offers a variety of online tools and resources, including a mobile app where you can file a claim and request roadside assistance.
USAA auto insurance overview
USAA only serves military members, veterans and their spouses, but it’s consistently rated highly for customer satisfaction and claims satisfaction. USAA’s car insurance offerings are robust, with accident forgiveness, car replacement coverage and military-specific discounts.
Liberty Mutual auto insurance overview
Liberty Mutual wrote $11,701,810,697 in direct premiums in 2019. The company is known for its long list of coverage options, including some unique coverages. These include lifetime repair guarantee coverage, better car replacement, original parts replacement coverage and gap insurance.
Farmers auto insurance overview
Farmers is the seventh-largest car insurance company on the market, with $10,533,343,298 in direct premiums. Farmers’ car insurance is very basic and there aren’t many discount options. However, the company gets decent reviews from industry experts like J.D. Power and the NAIC.
Nationwide auto insurance overview
Nationwide offers car insurance coverage in every state except Alaska, Hawaii, Louisiana and Massachusetts. Drivers can get access to a wide range of coverage options and perks, including accident forgiveness, a total loss deductible waiver and a vanishing deductible program.
Kemper auto insurance overview
Kemper is not a widely known insurance company, but it wrote $3,379,883,007 in direct premiums in 2019. Kemper specializes in high-risk and non-standard car insurance policies, as well as offering SR-22s. The company also has some unique offerings, like a reconditioned vehicle program and broad form coverage.
MetLife auto insurance overview
MetLife is best known as a life insurance carrier, but the company wrote $2,467,219,347 in auto insurance premiums in 2019. With MetLife, drivers can choose comprehensive coverage options, like new car replacement, special parts replacement and enhanced car rental damage coverage.
| Carrier | Pros | Cons |
|---|---|---|
| State Farm | Great online tools/resources Highly-rated claims handling Multiple safe driver discount programs | Fewer add-on coverage options compared to competitors |
| Geico | Affordable rates Good discounts | Poor customer service Basic coverage options |
| Progressive | Snapshot program for safe drivers Variety of discounts Deductible savings bank | Rates vary significantly by state |
| Allstate | Good online tools/resources Accident forgiveness Milewise pay-per-mile policy | Higher than average customer complaints |
| USAA | Military-specific discounts and coverages Affordable policies Excellent customer service | Only available for military members |
| Liberty Mutual | Offers new car and better car replacement coverage Special policy for teachers | Below average ratings for claims satisfaction |
| Farmers | Wide range of coverage options Offers rideshare insurance | Few discounts compared to competitors |
| Nationwide | Accident forgiveness Great discounts Vanishing deductible program | Poor customer reviews |
| Kemper | Available in 50 states Offers non-standard insurance Flexible payment plans | Few online tools/resources |
| MetLife | Multiple car replacement coverages24/7 customer service Excellent financial strength | No online quotes Must work with an agent for policy updates/changes |
How to choose the right car insurance carrier
Choosing the right car insurance company takes careful thought and consideration. There are a few key aspects to keep in mind before you select a provider. Here are some ways to choose the best car insurance company for you:
- Read reviews: first, look at reviews to see what real customers think about the company. J.D. Power and NAIC are good, unbiased resources.
- Get a recommendation: ask your friends and family about their insurance providers to get a sense of customer service and overall satisfaction.
- Look at financial strength: look at the company’s financial strength ratings from AM Best. A score of A- for above indicates excellent financials, which means the company has enough money to repay policyholders even in the event of a widespread loss.
- Pay attention to discounts: keep an eye out for insurance companies that offer several discounts you can take advantage of, as this will help offset premiums.
- Consider add-on coverages: depending on your situation, you may want to purchase add-on coverage, like accident forgiveness, gap insurance or rideshare insurance. Not all optional coverages are offered by all providers.
- Compare rates: Once you’ve settled on a few contenders, get sample quotes from each company to compare the rates side-by-side.
Takeaway
- Large car insurance companies write billions of dollars in direct premiums each year.
- Big companies generally have the ability to offer cheaper rates, better discounts and more coverage options than local providers.
- When selecting from the top providers by market share, compare quotes to find the best fit for your circumstances.
The benefits of choosing a large car insurance company include having a provider that you can keep no matter where you live, plus the perks of competitive rates and strong financial backing to your policy. But before you choose a provider, shop around and consider the things that are most important to you. The biggest car insurance companies are not always guaranteed to have the best prices in your state, or the highest level of customer service. Different insurance companies have their strengths and weaknesses, so use this guide as a starting point for your own research.
