Top 6 Car Insurance Companies

1 State Farm

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As the nation’s largest car insurance provider, State Farm commands a significant market share, covering 16.8% of all auto policies sold. Renowned for its exceptional customer service, the company consistently earns high ratings in industrywide studies and receives numerous positive reviews.

While State Farm offers coverage to drivers in all 50 states, it no longer issues new policies in Massachusetts or Rhode Island. On average, State Farm’s full coverage costs approximately 14% less than the national average, presenting potential savings for policyholders. Additionally, State Farm offers various discounts, including those for multi-car, multi-policy, accident-free driving, good student status, driver training, and vehicle safety features, further enhancing affordability for customers.

2 Geico

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According to the NAIC, Geico ranks as the second-largest car insurance provider in the U.S., capturing 14.05% of all auto insurance premiums sold. With a robust AM Best financial strength rating and a slightly above-average claims satisfaction rating, Geico has established itself as a dependable and cost-effective choice for auto insurance coverage.

Geico’s average cost for full-coverage auto insurance is approximately 24% lower than the national average, making it an attractive option for budget-conscious consumers. Moreover, Geico offers a range of car insurance discounts, including those for air bags, good students, safe drivers, new vehicles, and federal employees, further enhancing its affordability. As a subsidiary of Berkshire Hathaway, Geico benefits from strong financial backing, ensuring its ability to fulfill auto insurance claims promptly and reliably.

3 Progressive

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Ranked as the third-largest car insurance provider nationwide, Progressive holds a 13.76% share of all insurance plans purchased. It boasts a strong BBB rating and AM Best financial strength score, demonstrating its capability to fulfill ongoing insurance commitments. However, Progressive received a below-average score in the J.D. Power 2022 U.S. Auto Claims Satisfaction Study℠, ranking lowest among the five largest car insurance companies.

Progressive’s typical cost for full-coverage auto insurance is nearly 7% lower than the national average of $1,730 per year or $144 per month. The company offers various discounts, including those for continuous insurance, multi-car policies, homeowners, good students, and paperless transactions.

4 Allstate

source : from – theinsurer.com

Allstate ranks fourth among the largest car insurance companies, holding a market share of 10.69%. Offering a diverse array of insurance coverage options, it boasts a robust J.D. Power claims satisfaction rating. Additionally, every Allstate policy includes a claims satisfaction guarantee, covering up to six months of premium costs if policyholders are dissatisfied with the claims process.

Although the average rates for full-coverage car insurance from Allstate are approximately 21% higher than the national average, the company provides various discounts that could potentially lower your car insurance rates. These discounts include multi-policy, good student, early signing, new car, and autopay options.

5 USAA

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Ranked as the fifth-largest car insurance company, USAA commands a 5.92% share of the auto insurance market. Renowned for its affordable car insurance rates, USAA also boasts a strong financial strength rating and consistently high performance in J.D. Power customer surveys. However, it’s important to note that USAA auto insurance is exclusively available to military members, veterans, and their families.

USAA offers the best average prices among the top five largest car insurance companies, with costs that are an impressive 39% cheaper than the national average for full-coverage auto insurance.

6 Liberty Mutual

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Ranked as the sixth-largest car insurance provider in the U.S., Liberty Mutual offers various car insurance discounts tailored to benefit families with young drivers, including good student, student away at school, and multi-car discounts. Additionally, Liberty Mutual’s RightTrack® telematics program incentivizes good driving behaviors with additional discounts of up to 30%.

To obtain a quote based on your driving profile and insurance needs, you’ll need to contact Liberty Mutual directly. Unfortunately, our team was unable to acquire national average rates for minimum- and full-coverage policies with this provider.

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