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The 10 largest auto insurance companies in the U.S. (2022)

State Farm is the largest auto insurance company based on written premiums and market share. Learn everything you need to know about State Farm and the other largest carriers.

Andrew Hurst

By

Andrew Hurst

Andrew Hurst

Senior Editor & Licensed Auto Insurance Expert

Andrew Hurst is a senior editor and a licensed auto insurance expert at Policygenius. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.

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By

Ian Bloom, CFP®, RLP®

Ian Bloom, CFP®, RLP®

Certified Financial Planner

Ian Bloom, CFP®, RLP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, he was a financial advisor at MetLife and MassMutual.

Updated|9 min read

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There are thousands of licensed insurers in the United States, but the 10 largest insurance companies account for 74% of the market for car insurance coverage. While these top auto insurance companies are all well known, they have different costs, customer service ratings, and coverage options. We've broken down their differences below.

  1. State Farm

  2. GEICO

  3. Progressive

  4. Allstate

  5. USAA

  6. Liberty Mutual

  7. Farmers Insurance

  8. Nationwide

  9. American Family

  10. Travelers

What are the largest auto insurance companies?

The largest auto insurance company in the country is State Farm, which by itself takes up 16% of the car insurance market in the U.S. According to the most recent data from the National Association of Insurance Commissioners, State Farm issued $40.4 billion dollars in premiums — nearly $7 billion more than the second largest insurer, GEICO.

Together, the top 10 auto insurance providers took in $184 billion from written premiums in 2020, the most recent year with data available. The entire industry issued $250 billion in premiums in the same year. The most popular car insurance companies took in 74% of this amount on their own.

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Seven of the top 10 car insurance companies issued at least $10 billion in auto premiums in 2020, and all of them took in at least $1 billion. In fact, no insurer in the country's top 28 largest insurance companies took in less than $1 billion in that year.

Rank

Company

Written premiums

Market share

1

State Farm

$40.4

16.2%

2

GEICO

$33.8

13.5%

3

Progressive

$33.2

13.3%

4

Allstate

$22.7

9.1%

5

USAA

$15.8

6.3%

6

Liberty Mutual

$11.8

4.7%

7

Farmers Insurance

$9.9

4%

8

Nationwide

$5.8

2.3%

9

American Family

$5.2

2.1%

10

Travelers

$4.9

2%

11

Auto Club Exchange

$3.6

1.4%

12

Kemper

$3.5

1.4%

13

Erie Insurance

$3.4

1.4%

14

Auto-Owners Insurance

$3.3

1.3%

15

National General

$3.2

1.3%

16

CSAA

$2.8

1.1%

17

Mercury General

$2.5

1%

18

MetLife

$2.3

0.9%

19

The Hartford

$1.9

0.7%

20

Auto Club Insurance Association

$1.8

0.7%

21

MAPFRE Insurance

$1.4

0.5%

22

Amica Mutual

$1.3

0.5%

23

The Hanover

$1.2

0.5%

24

COUNTRY Insurance

$1.2

0.5%

25

Sentry Insurance

$1.2

0.5%

26

Southern Farm Bureau

$1.1

0.4%

27

Shelter Insurance

$1

0.4%

28

New Jersey Manufacturers

$1

0.4%

Written premiums in billions of dollars

1. State Farm

State Farm

3.8

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

State Farm logo

Along with being the largest car insurance company in the country, State Farm is also known for its affordable coverage and highly rated customer service.

  • Written premiums: $40.4 bil.

  • Market share: 16.2%

  • Policygenius score: 3.8/5

  • Average cost: $1,240

  • J.D. Power score: 892

  • A.M. Best credit rating: A++ (Superior)

Read our full State Farm review

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Taking up 16% of the entire auto insurance market, State Farm is the largest car insurer in the country. The company was founded in 1922 and now boasts more than 18,000 agents across the United States.

In addition to being the largest company, State Farm is also one of the top companies in the U.S. for its cheap insurance costs. The company is one of the more affordable options for coverage for young and old drivers, as well as those who have prior incidents on their records.

State Farm also has a history of highly rated customer service — somewhat uncommon among the largest car insurance companies. State Farm's strong local presence has helped the company achieve consistently high scores on J.D. Power's annual claims satisfaction study.

2. GEICO

GEICO

4.6

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

GEICO logo

In addition to being one of the largest insurance companies in the U.S., GEICO is also the cheapest auto insurer for most people.

  • Written premiums: $33.8 bil.

  • Market share: 13.5%

  • Policygenius score: 4.6/5

  • Average cost: $1,179

  • J.D. Power score: 881

  • A.M. Best credit rating: A++ (Superior)

Read our full GEICO review

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Originally founded 86 years ago as an insurance provider for federal employees, GEICO started selling auto insurance to the general public in 1974. Today, GEICO has more than 18 million policies in force, insuring more than 28 million vehicles across every state and Washington, D.C.

GEICO is most known for its cheap costs of coverage. We found that GEICO's policies cost $402 per year for minimum coverage and $1,179 for full coverage. Also, the range of insurance discounts that GEICO offers its customers means that many policyholders can get car insurance for an even lower cost.

In addition to being the best insurance company for most people who are looking for low rates, GEICO is also a good choice for those who want an insurer with a convenient app. Its customer service, however, ranks near the national average for car insurers.

3. Progressive

Progressive

4.1

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

Progressive logo

Progressive is usually a cheap alternative for not only car insurance, but for motorcycle coverage and other products, too.

  • Written premiums: $33.2 bil.

  • Market share: 13.3%

  • Policygenius score: 4.1/5

  • Average cost: $1,814

  • J.D. Power score: 862

  • A.M. Best credit rating: A+ (Superior)

Read our full Progressive review

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The youngest of the largest insurance companies, Progressive was founded in 1937 as a specialty insurer for high-risk drivers. Today, Progressive serves a wide range of drivers across all 50 states and Washington, D.C.

Progressive's car insurance premiums are generally affordable. The company is also known for its popular cost-savings products. Its "Name Your Price" tool allows shoppers to explore coverage options within their budget. And its "Deductible Savings Bank" lets drivers lower their deductibles by $50 every six month they go without making a claim.

Many types of vehicle owners can get coverage with Progressive, too. Since the company has affordable options for motorcycle, renters, and boat owners — and more — you can also usually get discounts for bundling more than one line of coverage.

4. Allstate

Allstate

4

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

Allstate logo

Allstate has higher rates than average compared to the other largest auto insurance companies, but its local presence could make it appealing for some shoppers.

  • Written premiums: $22.7 bil.

  • Market share: 9.1%

  • Policygenius score: 4/5

  • Average cost: $1,991

  • J.D. Power score: 870

  • A.M. Best credit rating: A+ (Superior) 

Read our full Allstate review

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Allstate was originally founded in 1931 by the Sears company as a way to sell car insurance by mail. In the present day, Allstate has expanded to a major car insurance company with nearly 50,000 employees and a vast network of local offices.

Though Allstate's rates are more expensive than the average cost of coverage, shoppers who want easy access to a physical office in their community will likely be satisfied with the company. Also, Allstate's discounts and Drivewise usage-based program allow some drivers to lower their cost of coverage.

5. USAA

USAA

USAA logo

USAA is one of the best and cheapest insurance companies in the country for military members and their families.

  • Written premiums: $15.8 bil.

  • Market share: 6.3%

  • Policygenius score: Not yet rated

  • Average cost: $1,128

  • J.D. Power score: 909

  • A.M. Best credit rating: A++ (Superior)

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USAA was founded in 1922 as a way to provide affordable insurance to members of the armed forces. That mission continues today, as USAA still only offers coverage to active, reserve, and retired members of the military and their families.

If you can get car insurance from USAA, you have access to one of the best (and the cheapest) insurance companies. Compared to the other largest companies — even GEICO — USAA is the cheapest option for coverage. 

The company's claims satisfaction is also consistently higher than other top auto insurers. J.D. Power has ranked USAA at the top of its claims satisfaction survey for years. USAA also receives few complaints from its policyholders for service — even though the insurer doesn't have an extensive physical presence like the other biggest insurance companies on our list.

6. Liberty Mutual

Liberty Mutual

Liberty Mutual logo

Liberty Mutual boasts a wide array of discounts that could lead to substantial savings for some drivers.

  • Written premiums: $11.8 bil.

  • Market share: 4.7%

  • Policygenius score: Not yet rated

  • Average cost: Data not available

  • J.D. Power score: 876

  • A.M. Best credit rating: A (Excellent)

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Liberty Mutual has been in business for nearly 112 years. It's grown from a mutual company in New England to a multinational corporation that writes policies in every state and employs more than 45,000 employees.

Regardless of what you pay in your area for coverage at Liberty Mutual, the insurer offers a number of discounts that make saving money easy for many people. In particular, the company offers a 12% discount just for signing up online. 

One weak point of Liberty Mutual compared to other large auto insurance companies is its reputation for customer satisfaction. Its claims satisfaction ranks below other major companies, though its local offices can make it easier to manage your policy if you prefer in-person service.

7. Farmers Insurance

Farmers Insurance

3.9

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

Farmers Insurance logo

Farmers Insurance has a great reputation for quality customer service, though its rates are more expensive than other large insurance companies.

  • Written premiums: $10 bil.

  • Market share: 4%

  • Policygenius score: 3.9/5 

  • Average cost: $1,968

  • J.D. Power score: 893

  • A.M. Best credit rating: A (Excellent)

Read our full Farmers Insurance review

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Farmers was originally started as an alternative way for farmers to get affordable insurance, but today the insurer has more than 19 million policies (and coverage isn't just for farmers anymore) in 10 million homes, along with more than 21,000 employees.

The customer service that Farmers provides is often rated highly. According to the J.D. Power Claims Satisfaction survey, Farmers has the best customer service among all of the other top car insurance companies (besides USAA).

While Farmers’ claims satisfaction is high, its insurance can be expensive. We found that auto coverage costs an average of nearly $2,000 per year for a full coverage policy. This makes Farmers the most expensive option of the largest insurance providers in the U.S. However, you may still be able to find cheap coverage thanks to the insurer's long list of discount opportunities.

8. Nationwide

Nationwide

Nationwide logo

Nationwide has affordable coverage compared to other large insurance companies, but its customer service is lacking.

  • Written premiums: $5.8 bil.

  • Market share: 2.3%

  • Policygenius score: 4.1/5

  • Average cost: $1,569

  • J.D. Power score: 876

  • A.M. Best credit rating: A+ (Superior)

Read our full Nationwide review

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When it was discovered that farmers tended to be more careful drivers than their urban counterparts, Nationwide was founded 96 years ago in Ohio as a way to offer farmers cheap coverage. Today, Nationwide is a Fortune 100 company with millions of policies in force — and not just for farmers anymore.

If you're looking for cheap car insurance, Nationwide could be a good pick for you. Costing $1,569 per year for a full coverage policy, the insurer's premiums are lower than average. Nationwide also offers a handful of discounts that could make your car insurance even more affordable.

While its rates may be low for some, Nationwide doesn't have a history of highly rated customer service. It's ranked below average for claims satisfaction by J.D. Power. However, it does rank above Allstate in this category.

9. American Family

American Family

American Family logo

American Family offers cheap car insurance and highly rated customer service, though it may be hard to find coverage depending on where you live.

  • Written premiums: $5.2 bil.

  • Market share: 2.1%

  • Policygenius score: Not yet rated

  • Average cost: $1,515

  • J.D. power score: 889

  • A.M. Best credit rating: A (Excellent)

Read our full American Family review

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Operating since 1927, American Family Insurance has lower-than-average rates than other large insurance companies, trailing only behind USAA, State Farm, and GEICO. The insurer is also highly rated for claims satisfaction. 

Its main flaw? American Family only offers car insurance in 19 states (many of them in the central part of the country). Compared to the other major insurance companies on this list, American Family's market is much more limited.

10. Travelers

Travelers

4.3

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

Travelers logo

Average rates and below-average claims satisfaction make Travelers a mixed option for many shoppers.

  • Written premiums: $4.9 bil.

  • Market share: 2%

  • Policygenius score: 4.3/5 

  • Average cost: $1,586

  • J.D. power score: 871

  • A.M. Best credit rating: A++ (Superior)

Read our full Travelers review

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Travelers is the oldest company on our list of the largest auto insurance companies. It was founded in 1864, meaning the insurer has been writing insurance policies since before the invention of the car.

The cost of car insurance with Travelers is lower than average for most people, with the minimum coverage policy ringing in at $1,586 per year. This places Travelers right in the middle of the other large insurance companies when it comes to price. You could also get lower rates by qualifying for any of the many discounts offered by Travelers.

Despite its average rates, Travelers has below-average claims satisfaction, according to J.D. Power's survey. However, the insurer's rank for its claims satisfaction service is better than Allstate's.

Largest auto companies by state

State Farm is the largest auto insurance company in the country, and it’s also usually the top insurance company at the state level. State Farm is the largest automotive insurance company in 31 states. GEICO is the largest in 10 states (including Washington, D.C.). Progressive is the biggest insurance company in nine states, and MAPFRE in just one, Massachusetts.

On average, the largest insurance company takes up nearly 21% of the market in a state. However, in Washington, D.C., the biggest car insurer, GEICO, accounts for more than 36% of the market. Conversely, the top company in California, State Farm, has a market share of just around 13%.

State

Largest insurer

In-state market share

Alabama

State Farm

22.8%

Alaska

State Farm

28.8%

Arizona

GEICO

16.4%

Arkansas

State Farm

23%

California

State Farm

12.8%

Colorado

State Farm

17.6%

Connecticut

GEICO

17.8%

Delaware

State Farm

23.4%

District of Columbia

GEICO

36.1%

Florida

GEICO

24.1%

Georgia

State Farm

21%

Hawaii

GEICO

27.7%

Idaho

State Farm

13.7%

Illinois

State Farm

29.2%

Indiana

State Farm

20.4%

Iowa

Progressive

21.1%

Kansas

State Farm

17.6%

Kentucky

State Farm

21.5%

Louisiana

State Farm

28.6%

Maine

Progressive

16.5%

Maryland

GEICO

24.8%

Massachusetts

MAPFRE

20.7%

Michigan

Progressive

19.7%

Minnesota

State Farm

22.6%

Mississippi

State Farm

23.1%

Missouri

State Farm

21%

Montana

State Farm

20.8%

Nebraska

State Farm

19.4%

Nevada

GEICO

16.4%

New Hampshire

Progressive

14.7%

New Jersey

GEICO

22.9%

New Mexico

State Farm

19.4%

New York

GEICO

30.6%

North Carolina

State Farm

14.2%

North Dakota

Progressive

20%

Ohio

State Farm

17.2%

Oklahoma

State Farm

22.3%

Oregon

State Farm

18.7%

Pennsylvania

State Farm

18.4%

Rhode Island

Progressive

25.9%

South Carolina

State Farm

22.9%

South Dakota

State Farm

17.6%

Tennessee

State Farm

20.0%

Texas

Progresive

15.1%

Utah

State Farm

14.2%

Vermont

Progresive

19.5%

Virginia

GEICO

19.3%

Washington

State Farm

15.1%

West Virginia

State Farm

24.9%

Wisconsin

Progressive

21.1%

Wyoming

State Farm

21.0%

How to find the right auto insurance company for you

As you shop for the right auto insurance to fit your needs, you should:

  1. Consider how much coverage you need. While nearly every state requires car insurance, your car's value, the number of drivers in your household, and your location will influence how much coverage you should get.

  2. Have a price in mind. When you know how much auto insurance you need, you should decide how much you're able to spend on coverage. Keep in mind that if you can afford to pay your entire premium for the year upfront, you could qualify for a discount.

  3. Compare quotes from multiple companies. Although the amount of insurance you need affects what you pay, you don't need to choose between having enough protection and cheap coverage. Policygenius can help you compare rates from popular insurance companies to ensure you find the best rates in your area for the amount of coverage you want.

We also recommend that you get a full coverage policy with comprehensive and collision protection, so that you don't have to pay for damage to your car yourself. However, if your deductible is more expensive than it would be to replace your car, you may only need less coverage.

Frequently Asked Questions

What is the largest insurance company in the U.S.?

The largest car insurance company in the United States is State Farm, which netted $4.2 billion in revenue in 2020. GEICO, Progressive, Allstate, and USAA follow State Farm in the list of the biggest insurance companies in the country.

Are the top insurance companies publicly traded?

Not all of the top insurance companies are publicly traded. Many, including State Farm, are private mutual funds, meaning they're not traded like regular stocks and ETFs. Progressive, Allstate, and Travelers are all publicly traded. You can get Berkshire Hathaway stock that's tied to GEICO's performance, but GEICO itself isn't publicly traded like the other companies.

What is the best insurance company in America?

The best insurance company in America depends on what the drivers need. Policygenius recommends USAA is the best insurance company to those who are eligible. For those who aren't affiliated with the military and can't get covered by USAA, GEICO is the best for cheap rates, Amica is the best for customer service, and State Farm is the best for younger or inexperienced drivers.

What is the highest-ranked car insurance?

USAA is usually the insurance company that's most highly ranked by J.D. Power. The insurer consistently gets the highest claims satisfaction scores in the country among the largest insurance providers. USAA is also highly ranked by A.M. Best for financial stability and receives few complaints from its policyholders.

Methodology

To find the largest auto insurance companies in the country, Policygenius analyzed data from the National Association of Insurance Commissioners (NAIC). The NAIC's Property and Casualty Market Share Report [1] , which was published in 2021, lists the total written premiums and market share — nationally and at the state level — for the top 125 insurance groups in the country.

Policygenius also analyzed car insurance rates provided by Quadrant Information Services for every ZIP code in all 50 states plus Washington, D.C. For full coverage policies, the following coverage limits were used:

  • Bodily injury liability: 50/100

  • Property damage liability: $50,000

  • Uninsured/underinsured motorist: 50/100

  • Comprehensive: $500 deductible

  • Collision: $500 deductible

We determined average rates for full coverage using averages for single drivers, aged 30 years old. Our sample vehicle was a 2017 Toyota Camry LE driven 10,000 miles per year.

Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.

References

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Policygenius uses external sources, including government data, industry studies, and reputable news organizations to supplement proprietary marketplace data and internal expertise. Learn more about how we use and vet external sources as part of our

editorial standards.
  1. National Association of Insurance Commissioners

    . "

    Property and Casualty Market Share Report

    ." Accessed March 03, 2022.

Author

Senior Editor & Licensed Auto Insurance Expert

Andrew Hurst

Senior Editor & Licensed Auto Insurance Expert

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Andrew Hurst is a senior editor and a licensed auto insurance expert at Policygenius. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.

Expert reviewer

Certified Financial Planner

Ian Bloom, CFP®, RLP®

Certified Financial Planner

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Ian Bloom, CFP®, RLP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, he was a financial advisor at MetLife and MassMutual.

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