The 10 largest auto insurance companies account for more than three-quarters of the entire auto insurance market and are led by State Farm, Geico and Progressive. The 10 largest auto insurance companies in the United States together represent 76% of the market, so there's a good chance that you're at least familiar with them. These auto insurance providers are led by major names in the industry, such as State Farm, Geico, Progressive, Allstate, and USAA. The Guides Auto team has looked for data to determine which companies have the largest market share in the auto insurance industry.
Our team will explain your coverage plans, costs, and customer satisfaction ratings to help you decide which car insurance company is best for you. Keep in mind that many of these companies offer other types of coverage, such as homeowners insurance, renters coverage, and life insurance. You may be able to save on car coverage if you combine it with other insurance products, such as home insurance. The 10 largest auto insurance companies cancel more than three-quarters of direct premiums in the U.S.
UU. Find more details below on the 10 largest insurance companies in the country by market share and their average total and minimum coverage costs. State Farm's average full coverage cost is about 14% cheaper than the national average. If you're looking to save more, at State Farm you'll find discounts on auto insurance, such as multi-car programs, multiple, no-accident policies for good students, driver training and vehicle insurance.
Geico offers the standard types of car insurance along with add-ons such as roadside assistance, rental car reimbursement, and mechanical breakdown insurance. DriveEasy, an insurance platform based on the use of Geico, is offered in most states and promotes safe driving habits by tracking them and offering discounts accordingly. The average Geico cost for car insurance with full coverage is about 24% cheaper than the national average. In addition to cheap car insurance rates, Geico offers discounts on auto insurance, such as airbags, good students, good drivers, new cars, and federal employees.
The company is also owned by Berkshire Hathaway, which gives it a great ability to pay car insurance claims. Allstate is ranked fourth among the largest auto insurance companies with a market share of 10.4%. It has a wide variety of insurance coverage options and a robust J, D. In addition, all Allstate policies include a claim satisfaction guarantee, which covers up to six months of premium costs if drivers aren't satisfied with the insurance claim process.
You'll find all six standard types of car insurance on Allstate, plus additional coverages, such as replacement of a new car, accident forgiveness, and guaranteed asset protection, also known as breach insurance. Allstate's national average prices for auto insurance with full and minimum coverage are found in the table below. Allstate's average full-coverage auto insurance rates are about 21% higher than the national average. However, Allstate offers discounts such as multiple policies, good student, early signing, new car, and automatic payment that could lower your car insurance rates.
USAA is the fifth largest auto insurance company, with a 6% share of the auto insurance market. It is known for its cheap car insurance rates, strong financial strength rating, and excellent performance in J, D. However, USAA car insurance is only available to members of the military, veterans, and their families. USAA's average prices are the best among the five largest auto insurance companies.
Average provider costs are an impressive 39% cheaper than the national average for car insurance with full coverage. You'll need to contact Liberty Mutual for a quote based on your driving profile and insurance needs. Our team was unable to obtain a national average of minimum and full coverage policies with this provider. American Family Insurance is the 9th largest auto insurance provider in the U.S.
And it has a wide range of discounts, such as young volunteers, generational, low-mileage, early booking and multi-vehicle. It also offers some non-traditional insurance plans, such as reimbursement for a rental car, insurance without coverage, and coverage for accidental death and dismemberment. Below, you can see how some of the biggest auto insurance companies in the industry compare to each other when it comes to pricing. We've also included the average rate of an auto insurance policy with full coverage in the U.S.
UU. The cheapest car insurance among large providers comes from USAA, Nationwide, Geico and State Farm. On the other hand, those who choose Farmers and Allstate are likely to pay more for similar amounts of coverage. Since rates vary depending on driving history, credit rating, and type of car, it's worth getting car insurance quotes before choosing a provider.
Many large auto insurance companies across the country offer reputable and financially stable options for policyholders, offering coverage add-ons and quality telematic insurance programs. Because they vary widely in price, customer satisfaction, and available discounts, we recommend that you compare auto insurance quotes to find the best policy for your needs. According to data from the NAIC, the largest auto insurer in the United States. State Farm represents 15.9% of the auto insurance market.
Geico, Progressive, Allstate and USAA round out the five largest auto insurance companies in the country. Geico is a larger auto insurance company than Allstate in terms of market share. While Allstate represents 10.4% of the U.S. In the auto insurance market, Geico claims an even larger share of 14.3%.
The 10 largest auto insurance companies, from highest to lowest market share, are State Farm, Geico, Progressive, Allstate, USAA, Liberty Mutual, Farmers Insurance, Nationwide, American Family Insurance and Travelers. Because consumers trust us to provide them with objective and accurate information, we have created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collect data on dozens of auto insurance providers to rate companies based on a wide range of ranking factors. The final result was an overall rating for each provider, with the insurers that scored the most points topping the list.
Because your credit history is correlated with your likelihood of filing an insurance claim, Liberty Mutual uses your credit data to calculate your premium in states where it is legal. Your insurance rate also depends on vehicle factors, such as the car you're driving and whether it's on the list of thefts. Whether you can shorten your commute to work, use more public transportation, or even ride more bikes, driving fewer miles each year could lower your Liberty Mutual premium. Not only can having an extra one land you in jail, but it can also cost you thousands of dollars in car insurance.
According to data from Insurify, a DUI on your record has the biggest impact on your car insurance quote. Liberty Mutual takes a variety of factors into account when calculating your premium, although some, such as your age and location, are beyond your control. Practicing safe driving habits and avoiding traffic violations can help you qualify for lower insurance rates from Liberty Mutual in the long term. Liberty Mutual is very expensive because of agent fees and the overall increase in costs for insurance companies.
Overall, married couples pay about 9% less for car insurance than single drivers because they're less likely to file a claim. .