The largest auto insurance companies in the industry include State Farm, GEICO, Progressive, Allstate, USAA, Liberty Mutual, Farmers, Nationwide, American Family, and Travelers.
Published November 25, 2020|6 min read
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There are thousands of auto insurance companies in the U.S. alone, but the largest of them take up more than half of the market. Whether you recognize them for their charming mascots or their catchy slogans, these top ten companies are large and in charge when it comes to auto insurance. According to the National Association of Insurance Commissioners (NAIC), the ten largest auto insurers are State Farm, GEICO, Progressive, Allstate, USAA, Liberty Mutual, Farmers, Nationwide, American Family, and Travelers.
But just because they had the largest shares of the market in 2019 or have written more premiums than their competitors, doesn’t necessarily mean they’re the best auto insurance company for you. All ten companies offer different coverage options and varied customer claims experiences, and not all of them are available in every state.
When it comes to auto insurance, the largest providers in North America include State Farm, GEICO, Progressive, Allstate, USAA, Liberty Mutual, Farmers, Nationwide, American Family, and Travelers
The National Association of Insurance Commissioners (NAIC) categorizes the largest auto insurance companies by the number of direct premiums earned and written, the total number of market shares, and the loss ratios of each company in a calendar year
These large auto insurance companies offer varying coverage options, customer claims experiences, and availability depending on where you live in the U.S.
Starting with the largest auto insurance company in the industry, the following North American providers are ranked based on their written premiums and market shares in 2019:
|Largest car insurance companies, ranked||Direct premiums written in 2019||Market share in 2019|
|State Farm||40,878,781||16.10 %|
|Liberty Mutual||11,701,811||4.61 %|
|American Family||5,776,711||2.28 %|
State Farm is currently the largest auto insurance company in the U.S. The company scored an 878 on J.D. Power’s 2019 U.S. Auto Claims Satisfaction Study, 14 points higher than their satisfaction rating in 2018 and 10 points ahead of the industry average.
Homeowners across the country can save up to 17% on their premium with State Farm by bundling home and auto insurance, or pairing any property policy with insurance for a vehicle, according to the company. State Farm also offers a number of other discounts including one for safe drivers through their Drive Safe & Save app and another that rewards teens for good grades.
➞ Learn more about State Farm
GEICO, the second-largest auto insurer in North America, covers over 17 million policyholders and 28 million vehicles. With a customer satisfaction rating of 879, it has the highest score of the largest ranked auto insurance companies, beating State Farm by a single point. The company offers a wide selection of discounts, including ways to save for having certain vehicle equipment, driver affiliations, and safe driving habits.
GEICO’s website and mobile app are robust and easy-to-use, making it simple for policyholders to find basic information, pay bills, and file a claim without needing to speak with an agent. But GEICO policies can only be purchased directly through the company’s agents, meaning an independent agent can’t show you GEICO quotes, you’ll have to do the comparison on your own.
➞ Learn more about Geico
Progressive serves a wide range of drivers across all 50 states and the District of Columbia. Even though it’s the third largest auto insurance company in the country, its customer satisfaction rating with J.D. Power sits at 856, a considerably lower score than the industry average of 868 and more than 10 places behind State Farm and GEICO.
Unique to Progressive is their “Name Your Price Tool,” a quoting system that helps interested buyers explore coverage options within their budget. Progressive also offers an optional “deductible savings bank” feature, which subtracts $50 off your comprehensive and collision deductible for every six months you don’t file a car insurance claim.
➞ Learn more about Progressive
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With over 23 million direct premiums written in 2019, Allstate takes fourth place on our list of largest auto insurance companies, and its J.D. Power customer satisfaction rating of 853 places it just above the industry average.
In addition to standard car insurance, Allstate policyholders can add a number of supplemental coverages to their policy like car insurance for travel to Mexico, which covers licensed drivers when they cross the border. Drivers can also save through the Drivewise program which rewards safe driving speeds, hours, and stops along the way.
➞ Learn more about Allstate
Of the top 10 largest auto insurance companies, USAA scores the highest for customer satisfaction with a score of 900 from J.D. Power. But it’s only offered to drivers who have served or are affiliated with the U.S. military.
Through USAA’s mobile app, drivers can gain easy access to their policy, car insurance quotes, and auto ID cards should they need to request one. There’s also the option to get a flexible payment plan that aligns your premium payments with your paychecks, and it costs nothing to start a policy with them.
➞ Learn more about USAA
Liberty Mutual offers an instant 12% discount when you quote online. You can also take advantage of discounts for purchasing a policy online, bundling two or more policies, and owning a home depending on where you live when you sign up.
Compared to other large insurance providers in the industry, Liberty Mutual scored an 857 for customer satisfaction with J.D. Power, placing it just one point above Progressive on the list. It also earned a solid A on A.M. Best’s Rating list in 2019.
➞ Learn more about Liberty Mutual
In seventh place on this list is Farmers, an insurance provider that currently serves “more than 10 million households with more than 19 million individual policies” across the nation. It landed a score of 865 in J.D. Power’s 2019 study, placing them above competitors like Liberty Mutual, Allstate, and Progressive when it comes to customer satisfaction.
Along with elaborate coverage options, drivers can also count on unique services with Farmers, like their Catastrophe Response Team which dispatches claims representatives in real-time when a disastrous event occurs.
➞ Learn more about Farmers
Nationwide’s rating on J.D. Power’s 2019 study is just about average, with a total of 867 points, but it earned a superior A+ on A.M. Best’s Credit Ratings list in 2019 and another A+ from the Better Business Bureau. Drivers who sign up for a policy with Nationwide have access to all kinds of flexible coverage options, the ability to customize their policies, and an annual “On Your Side Review” — free of charge.
➞ Learn more about Nationwide
When it comes to customer satisfaction, American Family Insurance (or Am Fam) ties with Liberty Mutual at 857 points. Even with this average score, that places them slightly ahead of competitors like Allstate and Progressive.
Am Fam offers an impressive list of discounts and smartphone apps for customers, but policies are only available in 19 states (many of which are in the West and Midwest), so most Americans don’t actually qualify for insurance with them.
➞ Learn more about American Family Insurance
The tenth largest car insurance company on the list is Travelers, a pioneer in the insurance industry serving drivers since 1864 — but don’t be fooled by its founding date; the company scored a stable A++ on A.M. Best’s Rating list in 2019, and 865 points on J.D. Power’s 2019 study, putting them on par with Farmers and ahead of relatively newer companies like American Family, Allstate, and Liberty Mutual.
Though Travelers insurance is only available in 42 states, those that do qualify for a policy can make the most of their accident forgiveness and decreasing-deductible options.
➞ Learn more about Travelers