List of Car Insurance Companies: Largest Companies in '23


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Whether you're a new driver or a seasoned motorist, understanding car insurance is crucial. The process of choosing a policy isn't just about picking the biggest company or the cheapest policy — it's about finding the right coverage that suits your needs and budget. This guide provides data-driven insights about the top auto insurers and delves into the pros and cons of choosing large versus small companies to help you better understand your options.

Why Trust MoneyGeek? We collected quotes from Quadrant Information Services and state departments of insurance to analyze how insurers stack up in a cost comparison. To determine the largest providers by market share and financial stability and create our best ranking system, we utilized data from reputable sources including J.D. Power, AM Best and the National Association of Insurance Commissioners.

2,118,312Quotes Analyzed
 
67Companies Compared
 
897ZIP Codes

Top 10 Car Insurance Companies by Market Share and Financial Stability

These major car insurance companies take up 77% of the U.S. market share, meaning they account for the most policies out of the hundreds of auto insurance providers in the country. Analyzing these companies can reveal just how popular and widely available these brands are.

A provider with a large part of the market share is likely well established, available in many areas, and has strong financial stability to pay out claims when needed.

Company
NAIC Market Share %
AM Best Financial Strength Rating

16.8%

A++

14.1%

A+

13.8%

A++

10.7%

A+

5.9%

A++

Market share data was obtained from the latest NAIC (National Association of Insurance Commissioners) 2022 Market Share Report and gives a snapshot of the market share held by different companies in the auto insurance sector.

AM Best rates the financial strength of insurance companies and their ability to meet policyholder obligations whenever a claim is made based on a stringent review process of each company's financials. Companies that are rated A++/A+ ("Superior") or A/A- ("Excellent") are considered very stable.

Benefits Offered by the Largest Auto Insurance Companies

When you select a significant auto insurance company, you get the resources that come with it — like the ability to handle claims within an established customer service system. It’s also easier to gauge how well that customer service is when you have thousands of consumer reviews, giving you a more comprehensive understanding.

Technology Features Offered by the Largest Auto Insurance Companies

The reputation of an insurance company carries more weight when the company has been in business for an extended period. But sometimes, that long history can mean dealing with a slower-moving company, especially regarding technological advances.

Here are a few features to keep an eye out for when weighing your insurance options:

  • A name-your-price tool: Progressive lets you tell the company how much you want to pay and see your available options based on that; this tool also allows you to view your options by desired insurance coverages such as liability-only car insurance or full coverage car insurance.
  • All-inclusive mobile app: State Farm offers an app (for both iPhone and Android) that allows customers to manage the entire claim process — including uploads of damage photos and documents — manage their policies and even order roadside assistance.
  • SmartRide savings: Nationwide’s app allows drivers to save up to 40% on their car insurance for safe driving, either through an app or a device, and offers personalized feedback to help you save.

List of the Best Car Insurance Companies

You're likely familiar with America's largest car insurance companies, but determining which one is best for you depends on where you live, how much coverage you need and your budget.

MoneyGeek ranked the largest auto insurance companies by measuring affordability, customer satisfaction and other key factors to help you find the best car insurance for your needs.


1
GEICO
Score:85

3.8/5

Affordability

3.5/5

Claims Ratings

5/5

Discounts

4/5

User Satisfaction

5/5

Financial Stability

More About GEICO

Established in 1936 as the Government Employees Insurance Company (hence their current name), GEICO has been a subsidiary of the Berkshire Hathaway Group since 1996, and you’ve likely come across their many mascots (notably the gecko and caveman) over the years. GEICO boasts 13.76% of the market share, writes over 16 million auto policies and insures over 28 million vehicles. Customers can contact the company 24 hours a day, seven days a week, via their app. There are also contact options on the website or by telephone. GEICO also offers a military auto insurance section staffed by veterans.

Read MoneyGeek's GEICO auto Insurance Review
2
Travelers
Score:82

2.4/5

Affordability

5/5

Claims Ratings

5/5

Discounts

3/5

User Satisfaction

5/5

Financial Stability

More About Travelers

With Travelers, customers can find similar offerings as the other largest car insurance companies on this list, like home, landlord and boat insurance. The company has been around for over 165 years. With more than 12,000 dedicated claim representatives, this enables shorter wait times compared to many other insurers. Additionally, they have a national distribution network of 13,500 independent agents. Travelers holds 2.11% of the market share.

Read MoneyGeek's Travelers auto Insurance Review
3
USAA
Score:81
4
State Farm
Score:81
5
Progressive
Score:74
6
American Family Insurance
Score:70
7
Nationwide
Score:66
8
Allstate
Score:66
9
Farmers
Score:60

List of the Best Car Insurance Companies by State

Drivers seeking the best auto insurance should always check out the specific offerings for their state for the most accurate rates. Use the table below to discover the best car insurance provider in your state. Click your state to learn more about the best car insurance in your state by driver profile and coverage needs.

List of the Best Car Insurance Companies by State
AlabamaCincinnati Insurance93$717$60
AlaskaProgressive89$1,180$98
ArizonaAuto-Owners Insurance Co89$767$64
ArkansasShelter91$1,143$95
CaliforniaChubb93$1,868$156
ColoradoAcuity94$1,331$111
ConnecticutAmica Mutual91$868$72
DelawareTravelers90$904$75
District of ColumbiaChubb93$1,380$115
FloridaAllstate86$1,965$164
GeorgiaAuto-Owners Insurance Co92$778$65
HawaiiProgressive89$1,243$104
IdahoAmerican National P&C90$299$25
IllinoisWestfield91$863$72
IndianaWestfield91$684$57
IowaWestfield91$717$60
KansasShelter91$1,027$86
KentuckyCincinnati Insurance93$825$69
LouisianaProgressive87$1,847$154
MaineTravelers85$656$55
MarylandErie91$1,137$95
MassachusettsChubb93$1,008$84
MichiganChubb93$961$80
MinnesotaWestfield91$866$72
MississippiShelter90$1,319$110
MissouriShelter90$1,616$135
MontanaGEICO86$1,167$97
NebraskaShelter91$1,095$91
NevadaAmerican Family89$1,389$116
New HampshireHanover86$3,166$264
New JerseyAmica Mutual92$944$79
New MexicoState Farm86$654$55
New YorkChubb93$2,318$193
North CarolinaErie90$630$52
North DakotaGrinnell Mutual89$911$76
OhioCincinnati Insurance93$711$59
OklahomaShelter91$1,163$97
OregonAmerican Family89$925$77
PennsylvaniaChubb93$1,252$104
Rhode IslandAmica Mutual91$1,072$89
South CarolinaAuto-Owners Insurance Co92$842$70
South DakotaWestern National91$1,119$93
TennesseeCincinnati Insurance93$867$72
TexasChubb93$1,371$114
UtahAuto-Owners Insurance Co89$726$60
VermontAmerican Family89$594$50
VirginiaCincinnati Insurance93$831$69
WashingtonChubb93$1,026$85
West VirginiaWestfield91$1,021$85
WisconsinAcuity94$960$80
WyomingAllstate86$913$76

List of the Cheapest Car Insurance Companies

One key factor for many people when choosing a policy is affordability. While premiums vary widely based on location, driving history, and vehicle type, some companies consistently offer competitive rates. We've compiled a list of the cheapest car insurance companies, but remember, low cost doesn't always equate to high value. It's crucial to consider the quality of coverage, customer service and claim satisfaction in addition to the price. Explore our list to discover the cheapest car insurance companies at a national level.

List of the Cheapest Car Insurance Companies Nationally
USAA$679$57
State Farm$883$74
Nationwide$930$78
GEICO$936$78
Travelers$1,037$86
Progressive$1,120$93
Allstate$1,124$94
Farmers$1,192$99

List of the Cheapest Car Insurance Companies by State

When shopping for car insurance, you'll find that costs can vary significantly from state to state. It's crucial to explore options tailored to your specific locale that meet your state’s minimum coverage requirements. We've compiled a list of the cheapest car insurance companies by state to help you find the most affordable car insurance where you live. Click your state to learn more about the cheapest car insurance in your state by driver profile and coverage needs.

List of the Cheapest Car Companies Insurance by State
AlabamaAllstate$825$69
AlabamaNationwide$709$59
AlabamaCincinnati Insurance$581$48
AlaskaGEICO$750$62
AlaskaState Farm$699$58
AlaskaState Farm$644$54
ArizonaRoot Insurance Company$684$57
ArizonaRoot Insurance Company$682$57
ArizonaTravelers$689$57
ArkansasHanover$741$62
ArkansasState Farm$629$52
ArkansasHanover$551$46
CaliforniaGEICO$1,284$107
CaliforniaAAA California$1,001$83
CaliforniaAAA California$991$83
ColoradoAmerican National P&C$668$56
ColoradoAmerican National P&C$541$45
ColoradoAmerican National P&C$532$44
ConnecticutGEICO$880$73
ConnecticutGEICO$693$58
ConnecticutGEICO$683$57
DelawareTravelers$980$82
DelawareState Farm$881$73
DelawareState Farm$817$68
District of ColumbiaGEICO$878$73
District of ColumbiaGEICO$662$55
District of ColumbiaGEICO$715$60
FloridaState Farm$1,259$105
FloridaState Farm$1,058$88
FloridaState Farm$970$81
GeorgiaAllstate$942$78
GeorgiaCountry Financial$665$55
GeorgiaCountry Financial$580$48
HawaiiGEICO$565$47
HawaiiGEICO$565$47
HawaiiGEICO$565$47
IdahoAmerican National P&C$383$32
IdahoAmerican National P&C$299$25
IdahoAmerican National P&C$307$26
IllinoisAmerican Family$753$63
IllinoisCountry Financial$663$55
IllinoisCountry Financial$610$51
IndianaAmerican Family$598$50
IndianaAmerican Family$555$46
IndianaState Farm$530$44
IowaState Farm$639$53
IowaState Farm$509$42
IowaState Farm$448$37
KansasNationwide$786$66
KansasNationwide$670$56
KansasNationwide$596$50
KentuckyNationwide$1,007$84
KentuckyNationwide$790$66
KentuckyCincinnati Insurance$670$56
LouisianaGEICO$1,512$126
LouisianaLouisiana Farm Bureau$1,048$87
LouisianaState Farm$1,257$105
MaineConcord Group$690$57
MaineConcord Group$521$43
MaineConcord Group$498$41
MarylandProgressive$961$80
MarylandProgressive$938$78
MarylandProgressive$857$71
MassachusettsState Farm$483$40
MassachusettsState Farm$483$40
MassachusettsState Farm$369$31
MichiganGEICO$903$75
MichiganGEICO$898$75
MichiganChubb$798$67
MinnesotaAmerican Family$842$70
MinnesotaState Farm$797$66
MinnesotaIowa Farm Bureau$694$58
MississippiDirect General Insurance$919$77
MississippiDirect General Insurance$723$60
MississippiDirect General Insurance$639$53
MissouriAmerican Family$1,070$89
MissouriNationwide$909$76
MissouriNationwide$860$72
MontanaProgressive$525$44
MontanaProgressive$437$36
MontanaProgressive$399$33
NebraskaAmerican National P&C$493$41
NebraskaAmerican National P&C$405$34
NebraskaAmerican National P&C$381$32
NevadaCSAA$1,168$97
NevadaCSAA$940$78
NevadaCSAA$840$70
New HampshireState Farm$681$57
New HampshireState Farm$540$45
New HampshireState Farm$500$42
New JerseyPlymouth Rock Assurance$965$80
New JerseyPlymouth Rock Assurance$895$75
New JerseyNJM$798$66
New MexicoState Farm$854$71
New MexicoState Farm$644$54
New MexicoState Farm$607$51
New YorkKemper$990$82
New YorkKemper$781$65
New YorkKemper$766$64
North CarolinaErie$644$54
North CarolinaErie$630$52
North CarolinaNationwide$514$43
North DakotaAmerican Family$709$59
North DakotaAmerican Family$616$51
North DakotaNodak Mutual$514$43
OhioAmerican Family$516$43
OhioNationwide$485$40
OhioNationwide$448$37
OklahomaState Farm$818$68
OklahomaState Farm$662$55
OklahomaState Farm$579$48
OregonState Farm$813$68
OregonState Farm$706$59
OregonState Farm$656$55
PennsylvaniaTravelers$672$56
PennsylvaniaNationwide$580$48
PennsylvaniaNationwide$508$42
Rhode IslandState Farm$862$72
Rhode IslandState Farm$700$58
Rhode IslandState Farm$712$59
South CarolinaAmerican National P&C$548$46
South CarolinaAmerican National P&C$463$39
South CarolinaAmerican National P&C$482$40
South DakotaAllstate$803$67
South DakotaAllstate$746$62
South DakotaNationwide$702$58
TennesseeState Farm$728$61
TennesseeState Farm$579$48
TennesseeState Farm$516$43
TexasState Farm$900$75
TexasState Farm$699$58
TexasTexas Farm Bureau$629$52
UtahNationwide$896$75
UtahNationwide$725$60
UtahNationwide$670$56
VermontState Farm$611$51
VermontState Farm$493$41
VermontState Farm$449$37
VirginiaVirginia Farm Bureau$753$63
VirginiaAmerican Family$601$50
VirginiaNationwide$651$54
WashingtonPEMCO$670$56
WashingtonPEMCO$534$44
WashingtonPEMCO$569$47
West VirginiaErie$962$80
West VirginiaErie$784$65
West VirginiaErie$773$64
WisconsinGEICO$641$53
WisconsinGEICO$556$46
WisconsinState Farm$568$47
WyomingFarmers$870$72
WyomingState Farm$745$62
WyomingState Farm$646$54

Get a Car Insurance Quote Today

Getting a car insurance policy involves a few crucial steps, but it doesn't have to be a complex process. To start, you'll need to determine your coverage needs. Next, gather the necessary information, including your vehicle details (make, model, year), driving record and personal details like your age and address. You'll need this information to get accurate quotes for the cost of a policy.

You can get quotes by visiting a company’s website or calling a representative. You should get at least three quotes to compare to ensure you get the best rate for the coverage you need.

MoneyGeek’s auto insurance calculator utilizes 2,118,312 quotes across 897 zipcodes from 67 insurers to calculate estimates for the cost of car insurance for various driver profiles. Our calculator is safe and free to use.

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Rates updated:

Nov 07, 2024

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About Mark Fitzpatrick


Mark Fitzpatrick headshot

Devon Delfino is an independent journalist based in the Pacific Northwest. She earned her Bachelor of Science degree in journalism from Boston University. Her personal-finance reporting has been featured in publications such as the L.A. Times, Teen Vogue, Mashable, MarketWatch, CNBC and USA Today, among others. Devon Delfino is a writer for MoneyGeek.


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