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Joe Dyton has been a professional writer since 1999. He's been writing about the auto insurance industry for 15 years and was an in-house marketing copywriter for GEICO for a decade. Learn more about Joe at joedyton.com.
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Nick Versaw leads Compare.com's editorial department, where he and his team specialize in crafting helpful, easy-to-understand content about car insurance and other related topics. With nearly a decade of experience writing and editing insurance and personal finance articles, his work has helped readers discover substantial savings on necessary expenses, including insurance, transportation, health care, and more. As an award-winning writer, Nick has seen his work published in countless renowned publications, such as the Washington Post, Los Angeles Times, and U.S. News & World Report. He graduated with Latin honors from Virginia Commonwealth University, where he earned his Bachelor's Degree in Digital Journalism.
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Amanda Clear is a licensed Property and Casualty insurance agent who runs her family insurance agency providing coverage in the states of Connecticut, New York, and Vermont. She specializes in providing customized insurance packages to her clients that provide the best coverage for the price that they can afford. She holds a bachelor's degree in English from Sacred Heart University in Fairfield, CT, and works as a freelance editor, proofreader, and writer outside of her insurance career.
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While we make money through partnerships with some of the brands we discuss in our articles, our editorial team operates 100% independently, and these partners never influence or affect the topics, reviews, ratings, or recommendations we provide. We never guarantee favorable reviews or mentions in exchange for compensation from any brands or partners, and we uphold strict editorial standards to ensure our content is always independent, truthful, and unbiased.
No matter your situation, you need car insurance to drive your vehicle legally. But you have a choice when it comes to which insurer will cover your vehicle. In fact, the insurance market consists of hundreds of car insurance companies. Some are small, regional insurers, while others are big names you see advertising on TV or online.
But with so many options, it can be overwhelming to find the right car insurance company for your individual needs. Ultimately, the best car insurance company for you will depend on several factors, such as price, how much coverage you need, your customer service expectations, and more. But with so many insurers out there, you’re sure to find one that meets your needs. You just need to know where to look.
We’ll show you how.
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Unsurprisingly, the 10 largest car insurance companies in terms of market share — the percentage of total industry sales each insurer has — feature a lot of familiar names. The top three car insurance companies based on market share — State Farm, Progressive, and GEICO — are some of the most well-known brands in the country.
Most of us are familiar with the GEICO gecko, Jake from State Farm, and Flo from Progressive, so it’s no surprise to see these companies top the list. In fact, the trio has snatched up nearly half of the total auto insurance market between them. But that doesn’t mean there aren’t plenty of other great options out there.
The following table includes the 10 largest auto insurance companies in the U.S. and their corresponding market share, according to data from the National Association of Insurance Commissioners (NAIC).
Insurance Company | Market Share | Average Monthly Rate |
|---|---|---|
| State Farm | 17% | $86 |
| Progressive | 14% | $109 |
| GEICO | 14% | $70 |
| Allstate | 11% | $155 |
| USAA | 6% | $62 |
| Liberty Mutual | 5% | $100 |
| Farmers | 5% | $154 |
| Travelers | 2% | $128 |
| American Family | 2% | $94 |
| Nationwide | 2% | $123 |
State Farm leads the industry with a whopping 17% market share, but Progressive, Allstate, and GEICO each claim at least 1 in 10 insurance shoppers. USAA, Liberty Mutual, and Farmers all boast at least 5% of the market as well, with several other big names rounding out the top 10.
But which one is right for you? Let’s take a closer look at each company.
Compare.com rating: 4.3 out of 5
Average monthly rate: $86
State Farm’s combination of discounts, low rates for good drivers, and highly rated customer service has led to the insurer writing the most auto insurance policies of any company in the U.S.
State Farm also boasts outstanding claims service teams and offers a variety of typical car insurance coverage options. And with above-average customer satisfaction scores in J.D. Power’s most recent auto insurance study and some of the lowest rates in the industry (even for drivers with a DUI), State Farm is a great choice for drivers looking for robust coverage at a great price.
Above-average J.D. Power customer satisfaction ratings
Wide variety of available discounts
24/7 claims service
Higher-than-average number of customer complaints
Relatively limited coverage options
Mixed customer reviews
Gap insurance not available
Compare.com rating: 4.2 out of 5
Average monthly rate: $109
Like a number of national car insurance companies, Progressive offers 24/7 service, a convenient mobile app, and competitive rates for its customers—including high-risk drivers. You can also enjoy bundling discounts for insuring multiple products — such as auto and home insurance — with Progressive. But you should be prepared for potential rate increases and issues with the Snapshot app, based on recent customer reviews.
Potential savings of 30% with Snapshot program
Outstanding discount offerings
24/7 customer and claims service
Potential rate hikes
Unclear loyalty program requirements
Reported issues with Snapshot mobile app
Compare.com rating: 4.65 out of 5
Average monthly rate: $70
GEICO is well-known for its low rates, which makes it a popular choice for drivers who prioritize cost when shopping for car insurance. The company also provides a fast and easy quote process — both online or over the phone — and a variety of discounts to help you save.
The company doesn’t have a lot of local insurance agents, but GEICO’s mobile app and website make it easy to manage your car insurance policy online.
Competitive rates for high-risk drivers
Wide variety of insurance products
Highly rated mobile app
Below-average customer service scores
Limited number of car insurance discounts
Gap insurance not available
Compare.com rating: 4.2 out of 5
Average monthly rate: $155
Allstate is a well-known car insurance brand, potentially due to its reputation for insuring drivers with varying driving and insurance histories. High-risk drivers can typically get an affordable Allstate policy, but so can drivers with clean records. The company covers a range of other vehicles and products, too. Allstate has a solid online presence, but still boasts a large network of local insurance agents who can offer personalized support to those who need it.
Wide variety of available coverage options
Available in all 50 states
Investment and retirement products also offered
High number of customer service complaints
Reportedly inefficient claims process
Potential issues with Drivewise and Milewise apps
Compare.com rating: Not yet rated
Average monthly rate: $62
USAA offers what many drivers are looking for in a car insurance company — competitive rates and plentiful discounts. But you must be affiliated with the military to become a USAA member and be eligible for coverage.
Only military members, veterans, and their families are eligible for USAA, but, if you qualify, you can expect competitive rates and expansive coverage options.
Extremely low rates
Numerous available discounts
Potential savings of 30% with SafePilot
Only available to active military members, veterans, and their families
24/7 customer service not available
Gap insurance not available
Compare.com rating: 3.95 out of 5
Average monthly rate: $100
Liberty Mutual’s competitive car insurance rates and wide variety of discounts have helped make it one of the largest car insurance companies in the industry. The insurer offers standard car insurance options as well as less traditional ones, such as antique car insurance policies and coverage in Mexico.
The company also covers several other vehicle coverages and insurance products, making it ideal for someone who wants to protect all their belongings with one company.
Potential savings with RightTrack
Competitive rates
Large number of available discounts
Reportedly long, frustrating claims process
Technical issues with quote process
Mixed customer service reviews
Compare.com rating: 4.1 out of 5
Average monthly rate: $154
Farmers’ local agent model gives you the best of both worlds — the personalized touch of a small insurance company with the benefits of a larger insurer, such as great rates and plentiful coverage options. Farmers also offers a variety of car insurance discounts and savings programs, such as its telematics program, Signal. The downside is the insurer’s rates and customer service ratings don’t stack up well with the other companies on this list.
Multiple car insurance coverage options available
Expansive local agent network
Available bundling opportunities
Above-average premiums
Below-average customer satisfaction rates
Potential rate increases with Signal
Compare.com rating: 4.03 out of 5
Average monthly rate: $128
Travelers offers a number of car insurance coverage options in addition to property insurance products and other financial services. While the company boasts solid financial strength and fewer complaints than average, it’s seen its share of low customer satisfaction marks. And though Travelers’ quote process is easy, completing the purchase is less convenient because you have to call to finalize your policy.
Cheaper-than-average car insurance rates
Plentiful discount programs available
Wide array of available coverage options
Must purchase policies over the phone
More expensive than direct competitors
Below-average customer satisfaction scores
Compare.com rating: 3.63 out of 5
Average monthly rate: $94
American Family Insurance offers a wide range of car insurance coverages with customizable coverage limits. The insurer also boasts multiple discounts to help you save on your monthly premium.
You can also insure your home, business, and more with American Family Insurance. But the insurer only offers car insurance in 19 states, and has struggled with financial strength compared to its competitors.
Above-average customer satisfaction ratings
Multiple discount opportunities
Competitive rates for high-risk drivers
Only available in 19 states
Customer service varies by local agent
More expensive than many competitors
Compare.com rating: 3.8 out of 5
Average monthly rate: $123
Nationwide rounds out the list of largest insurers in the United States. The company — which has been in business for nearly 100 years — is ideal for drivers seeking specialty auto insurance coverage and full-coverage options.
Nationwide is also known for its wide-ranging coverages, discounts, and strong financial standing. But its rates are higher than many companies on this list, and the insurer struggles with customer service.
Plenty of savings opportunities
Highly rated local agents
Extensive coverage options
Higher-than-average rates
Below-average customer service scores
Reported issues with quote process
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We’ve gone over the 10 largest car insurance companies by market share, but that doesn’t mean your options end here. The right auto insurance company for you will depend on a number of factors, including price, customer service, available coverages, and more.
Here are a few things to consider when choosing your next auto insurance company:
You might find a good fit on the first attempt, but be sure to check out a few other auto insurance companies. There could be a company that offers more discounts you’re eligible for or covers something you own that other companies don’t. And the only way to know you’re getting the best deal is by comparing personalized quotes from as many companies as possible. Fortunately, car insurance comparison sites do the hard work for you. Many work with more than 50 of the nation’s top companies, ensuring you find the best deal on your next policy.
You obviously want to pay the least amount you can for proper car insurance, but the company with the lowest rate doesn’t always mean it’s the best fit. Be sure to consider what you’re sacrificing for low car insurance quotes. Are you still getting all the coverage you need? Does the insurer reward you for insuring more than one product with its company? What’s its claim process like? What do other customers think? All these questions are worth asking next time you’re considering switching companies.
Many companies offer cheap rates and great service, but seeing what others have to say about a car insurance company can help you sift through the advertising claims and find the best company for your needs. Pay close attention to what people have said about a company’s claims process and customer service. If the feedback is generally positive and the insurer offers competitive car insurance rates, you may have a winner.
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You’ll always have plenty of choices when it comes to car insurance companies. We’ve answered some of the most commonly asked questions to help you find the right company for you.
Car insurance rates can depend on a number of factors, including your vehicle, age, driving history, address, and more. That being said, GEICO, State Farm, and USAA offer the cheapest car insurance, according to our research. Each of these companies’ liability-only coverage costs less than $100 per month, on average, and full-coverage car insurance rates all fall below $200 per month.
State Farm is currently the largest auto insurance company in the U.S. by market share, according to NAIC, with 16.84% of the car insurance market.
The “best” car insurance company will come down to your individual needs. The lowest price is helpful, but additional factors will determine what’s the best auto insurance company for you. The factors will include the number of available discounts and coverages, customer service and claims process, and if the company can insure your other belongings. We recommend comparing quotes from at least three different insurers before making your decision.
Sources
National Association of Insurance Commissioners, “2022 Property and Casualty Market Share report,” Accessed December 20, 2023.
Data scientists at Compare.com analyzed more than 50 million real-time auto insurance quotes from more than 75 partner insurers in order to compile the rates and statistics seen in this article. Compare.com’s auto insurance data includes coverage analysis and details on drivers’ vehicles, driving records, insurance histories, and demographic information.
All the rates listed in this article have been collected from a combination of real Compare.com quotes and external insurance rate data gathered in collaboration with Quadrant Information Services. Compare.com uses these observations to provide readers with insights into how auto insurance companies determine their premiums.
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Compare.com's #1 goal is to save you money. We publish resources that are based on hard-hitting data and years of industry experience to help you make more informed decisions with your wallet.
Learn more about us, our team, and what makes us tick.
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Joe Dyton has been a professional writer since 1999. He's been writing about the auto insurance industry for 15 years and was an in-house marketing copywriter for GEICO for a decade. Learn more about Joe at joedyton.com.
Nick Versaw leads Compare.com's editorial department, where he and his team specialize in crafting helpful, easy-to-understand content about car insurance and other related topics. With nearly a decade of experience writing and editing insurance and personal finance articles, his work has helped readers discover substantial savings on necessary expenses, including insurance, transportation, health care, and more. As an award-winning writer, Nick has seen his work published in countless renowned publications, such as the Washington Post, Los Angeles Times, and U.S. News & World Report. He graduated with Latin honors from Virginia Commonwealth University, where he earned his Bachelor's Degree in Digital Journalism.
Amanda Clear is a licensed Property and Casualty insurance agent who runs her family insurance agency providing coverage in the states of Connecticut, New York, and Vermont. She specializes in providing customized insurance packages to her clients that provide the best coverage for the price that they can afford. She holds a bachelor's degree in English from Sacred Heart University in Fairfield, CT, and works as a freelance editor, proofreader, and writer outside of her insurance career.
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