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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.

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++

5.0%

A

4.6%

A-

2.1%

A++

2.1%

A

2.0%

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

4.9/5

Affordability

4.5/5

Claims Ratings

1/5

Discounts

5/5

User Satisfaction

5/5

Financial Stability

More About USAA

USAA caters to active-duty military members, veterans and their families, and has done so since its founding in 1922. They offer a wide array of insurance and banking products, including home, flood and life insurance as well as checking and savings accounts and other financial services. According to USAA, which holds 5.92% of the market share, their customers can save $725 per year on premiums.

Read MoneyGeek's USAA auto Insurance Review
4
State Farm
Score:81

3.3/5

Affordability

4/5

Claims Ratings

5/5

Discounts

3/5

User Satisfaction

5/5

Financial Stability

More About State Farm

State Farm, famous for its “Like a good neighbor” slogan, holds 16.84% of the total market share, making it the largest auto insurance company in the country. State Farm has been around since 1922 and offers a wide array of insurance options, including home and life insurance, to customers in every state. It also offers more than 19,000 local exclusive agents across the U.S. and writes 91 million policies. It’s also worth noting that State Farm offers car insurance options for teen drivers, as well as rental and rideshare vehicles.

Read MoneyGeek's State Farm auto Insurance Review
5
Progressive
Score:74

2.1/5

Affordability

4/5

Claims Ratings

5/5

Discounts

3/5

User Satisfaction

4.5/5

Financial Stability

More About Progressive

Progressive increased its market share to 14.1% in 2022, becoming the second-largest U.S. auto insurance provider. The company says that it can save people an average of $650 on auto insurance when they switch. Popularized with commercials with the character Flo, the company’s main draw comes from its online quote tool, which allows potential customers to see options from other insurance companies simultaneously. Even if Progressive doesn’t have the lowest rate, you can quickly and easily weigh your options. Progressive was founded in 1937, and the company now has more than 21 million policyholders and a national distribution network of over 38,000 independent agents.

Read MoneyGeek's Progressive auto Insurance Review
6
American Family Insurance
Score:70

2.6/5

Affordability

3/5

Claims Ratings

5/5

Discounts

3/5

User Satisfaction

4/5

Financial Stability

More About American Family Insurance

American Family accounts for 2.11% of the auto insurance market share and is a commendable choice for consumers seeking customized, affordable, and customer-centric coverage. Its insurance offerings are comprehensive, including standard coverages such as liability, collision, and comprehensive, but it also provides unique add-on options, like rental reimbursement, emergency road service, and gap coverage. This range allows policyholders to create a plan best suited to their individual needs.

Read MoneyGeek's American Family Insurance auto Insurance Review
7
Nationwide
Score:66

2.6/5

Affordability

4.5/5

Claims Ratings

2/5

Discounts

3/5

User Satisfaction

4.5/5

Financial Stability

More About Nationwide

Nationwide has been in the insurance industry since 1925, and currently holds 1.99% of the market share. The company itself includes several affiliates, like Allied, Farmland and Scottsdale property and casualty companies, as well as financial services companies. You can get a quote from Nationwide in seven minutes or less, according to the site. And customers who choose to use “Smart Ride” (their usage-based discount program) can get an automatic 15% off their policy — up to 40% off depending on how their driving is evaluated.

Read MoneyGeek's Nationwide auto Insurance Review
8
Allstate
Score:66

2.4/5

Affordability

4.5/5

Claims Ratings

2/5

Discounts

3/5

User Satisfaction

4.5/5

Financial Stability

More About Allstate

Founded in 1931 as part of Sears Roebuck and Co., Allstate now serves about 16 million households. The company holds 10.69% of the market share, according to the NAIC. According to Allstate, it provides 189.1 million total policies supported by more than 45,000 employees and 8,400 exclusive Allstate agents. The company’s, “You’re in good hands,” slogan is easily recognized thanks to its ads and its safe driving discount and accident forgiveness program help back that assertion up, with the latter giving customers peace of mind that their premium won’t go up after an accident. However, be aware that accident forgiveness isn’t available in all states. The company also offers coverage options for those who have expensive stereo systems that they want to protect, so that may be worth considering as well.

Read MoneyGeek's Allstate auto Insurance Review
9
Farmers
Score:60

1.9/5

Affordability

4/5

Claims Ratings

2/5

Discounts

3/5

User Satisfaction

4/5

Financial Stability

More About Farmers

With commercials starring Academy Award-winning actor J.K. Simmons (as well as the company's signature jingle), Farmers has made a bit of a splash in the advertising world. That helped give it a top 10 spot in the U.S. market share, of which it holds 4.55%. The company was founded in 1928, and it now writes over 19 million individual policies and has over 48,000 exclusive and independent agents as well as almost 21,000 employees. That makes it easy to locate and speak with a representative to talk through your options. Farmers Insurance also offers a car-shopping service, which can help combine the buying and insuring processes.

Read MoneyGeek's Farmers auto Insurance Review

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
State
Company
Best Score (Out of 100)
Annual Premium
Monthly Premium

Alabama

Cincinnati Insurance

93

$717

$60

Alaska

Progressive

89

$1,180

$98

Arizona

Auto-Owners Insurance Co

89

$767

$64

Arkansas

Shelter

91

$1,143

$95

California

Chubb

93

$1,868

$156

Colorado

Acuity

94

$1,331

$111

Connecticut

Amica Mutual

91

$868

$72

Delaware

Travelers

90

$904

$75

District of Columbia

Chubb

93

$1,380

$115

Florida

Allstate

86

$1,965

$164

Georgia

Auto-Owners Insurance Co

92

$778

$65

Hawaii

Progressive

89

$1,243

$104

Idaho

American National P&C

90

$299

$25

Illinois

Westfield

91

$863

$72

Indiana

Westfield

91

$684

$57

Iowa

Westfield

91

$717

$60

Kansas

Shelter

91

$1,027

$86

Kentucky

Cincinnati Insurance

93

$825

$69

Louisiana

Progressive

87

$1,847

$154

Maine

Travelers

85

$656

$55

Maryland

Erie

91

$1,137

$95

Massachusetts

Chubb

93

$1,008

$84

Michigan

Chubb

93

$961

$80

Minnesota

Westfield

91

$866

$72

Mississippi

Shelter

90

$1,319

$110

Missouri

Shelter

90

$1,616

$135

Montana

GEICO

86

$1,167

$97

Nebraska

Shelter

91

$1,095

$91

Nevada

American Family

89

$1,389

$116

New Hampshire

Hanover

86

$3,166

$264

New Jersey

Amica Mutual

92

$944

$79

New Mexico

State Farm

86

$654

$55

New York

Chubb

93

$2,318

$193

North Carolina

Erie

90

$630

$52

North Dakota

Grinnell Mutual

89

$911

$76

Ohio

Cincinnati Insurance

93

$711

$59

Oklahoma

Shelter

91

$1,163

$97

Oregon

American Family

89

$925

$77

Pennsylvania

Chubb

93

$1,252

$104

Rhode Island

Amica Mutual

91

$1,072

$89

South Carolina

Auto-Owners Insurance Co

92

$842

$70

South Dakota

Western National

91

$1,119

$93

Tennessee

Cincinnati Insurance

93

$867

$72

Texas

Chubb

93

$1,371

$114

Utah

Auto-Owners Insurance Co

89

$726

$60

Vermont

American Family

89

$594

$50

Virginia

Cincinnati Insurance

93

$831

$69

Washington

Chubb

93

$1,026

$85

West Virginia

Westfield

91

$1,021

$85

Wisconsin

Acuity

94

$960

$80

Wyoming

Allstate

86

$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
Company
Annual Premium
Monthly Premium

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
State
Company
Annual Premium
Monthly Premium

Alabama

Allstate

$825

$69

Alabama

Nationwide

$709

$59

Alabama

Cincinnati Insurance

$581

$48

Alaska

GEICO

$750

$62

Alaska

State Farm

$699

$58

Alaska

State Farm

$644

$54

Arizona

Root Insurance Company

$684

$57

Arizona

Root Insurance Company

$682

$57

Arizona

Travelers

$689

$57

Arkansas

Hanover

$741

$62

Arkansas

State Farm

$629

$52

Arkansas

Hanover

$551

$46

California

GEICO

$1,284

$107

California

AAA California

$1,001

$83

California

AAA California

$991

$83

Colorado

American National P&C

$668

$56

Colorado

American National P&C

$541

$45

Colorado

American National P&C

$532

$44

Connecticut

GEICO

$880

$73

Connecticut

GEICO

$693

$58

Connecticut

GEICO

$683

$57

Delaware

Travelers

$980

$82

Delaware

State Farm

$881

$73

Delaware

State Farm

$817

$68

District of Columbia

GEICO

$878

$73

District of Columbia

GEICO

$662

$55

District of Columbia

GEICO

$715

$60

Florida

State Farm

$1,259

$105

Florida

State Farm

$1,058

$88

Florida

State Farm

$970

$81

Georgia

Allstate

$942

$78

Georgia

Country Financial

$665

$55

Georgia

Country Financial

$580

$48

Hawaii

GEICO

$565

$47

Hawaii

GEICO

$565

$47

Hawaii

GEICO

$565

$47

Idaho

American National P&C

$383

$32

Idaho

American National P&C

$299

$25

Idaho

American National P&C

$307

$26

Illinois

American Family

$753

$63

Illinois

Country Financial

$663

$55

Illinois

Country Financial

$610

$51

Indiana

American Family

$598

$50

Indiana

American Family

$555

$46

Indiana

State Farm

$530

$44

Iowa

State Farm

$639

$53

Iowa

State Farm

$509

$42

Iowa

State Farm

$448

$37

Kansas

Nationwide

$786

$66

Kansas

Nationwide

$670

$56

Kansas

Nationwide

$596

$50

Kentucky

Nationwide

$1,007

$84

Kentucky

Nationwide

$790

$66

Kentucky

Cincinnati Insurance

$670

$56

Louisiana

GEICO

$1,512

$126

Louisiana

Louisiana Farm Bureau

$1,048

$87

Louisiana

State Farm

$1,257

$105

Maine

Concord Group

$690

$57

Maine

Concord Group

$521

$43

Maine

Concord Group

$498

$41

Maryland

Progressive

$961

$80

Maryland

Progressive

$938

$78

Maryland

Progressive

$857

$71

Massachusetts

State Farm

$483

$40

Massachusetts

State Farm

$483

$40

Massachusetts

State Farm

$369

$31

Michigan

GEICO

$903

$75

Michigan

GEICO

$898

$75

Michigan

Chubb

$798

$67

Minnesota

American Family

$842

$70

Minnesota

State Farm

$797

$66

Minnesota

Iowa Farm Bureau

$694

$58

Mississippi

Direct General Insurance

$919

$77

Mississippi

Direct General Insurance

$723

$60

Mississippi

Direct General Insurance

$639

$53

Missouri

American Family

$1,070

$89

Missouri

Nationwide

$909

$76

Missouri

Nationwide

$860

$72

Montana

Progressive

$525

$44

Montana

Progressive

$437

$36

Montana

Progressive

$399

$33

Nebraska

American National P&C

$493

$41

Nebraska

American National P&C

$405

$34

Nebraska

American National P&C

$381

$32

Nevada

CSAA

$1,168

$97

Nevada

CSAA

$940

$78

Nevada

CSAA

$840

$70

New Hampshire

State Farm

$681

$57

New Hampshire

State Farm

$540

$45

New Hampshire

State Farm

$500

$42

New Jersey

Plymouth Rock Assurance

$965

$80

New Jersey

Plymouth Rock Assurance

$895

$75

New Jersey

NJM

$798

$66

New Mexico

State Farm

$854

$71

New Mexico

State Farm

$644

$54

New Mexico

State Farm

$607

$51

New York

Kemper

$990

$82

New York

Kemper

$781

$65

New York

Kemper

$766

$64

North Carolina

Erie

$644

$54

North Carolina

Erie

$630

$52

North Carolina

Nationwide

$514

$43

North Dakota

American Family

$709

$59

North Dakota

American Family

$616

$51

North Dakota

Nodak Mutual

$514

$43

Ohio

American Family

$516

$43

Ohio

Nationwide

$485

$40

Ohio

Nationwide

$448

$37

Oklahoma

State Farm

$818

$68

Oklahoma

State Farm

$662

$55

Oklahoma

State Farm

$579

$48

Oregon

State Farm

$813

$68

Oregon

State Farm

$706

$59

Oregon

State Farm

$656

$55

Pennsylvania

Travelers

$672

$56

Pennsylvania

Nationwide

$580

$48

Pennsylvania

Nationwide

$508

$42

Rhode Island

State Farm

$862

$72

Rhode Island

State Farm

$700

$58

Rhode Island

State Farm

$712

$59

South Carolina

American National P&C

$548

$46

South Carolina

American National P&C

$463

$39

South Carolina

American National P&C

$482

$40

South Dakota

Allstate

$803

$67

South Dakota

Allstate

$746

$62

South Dakota

Nationwide

$702

$58

Tennessee

State Farm

$728

$61

Tennessee

State Farm

$579

$48

Tennessee

State Farm

$516

$43

Texas

State Farm

$900

$75

Texas

State Farm

$699

$58

Texas

Texas Farm Bureau

$629

$52

Utah

Nationwide

$896

$75

Utah

Nationwide

$725

$60

Utah

Nationwide

$670

$56

Vermont

State Farm

$611

$51

Vermont

State Farm

$493

$41

Vermont

State Farm

$449

$37

Virginia

Virginia Farm Bureau

$753

$63

Virginia

American Family

$601

$50

Virginia

Nationwide

$651

$54

Washington

PEMCO

$670

$56

Washington

PEMCO

$534

$44

Washington

PEMCO

$569

$47

West Virginia

Erie

$962

$80

West Virginia

Erie

$784

$65

West Virginia

Erie

$773

$64

Wisconsin

GEICO

$641

$53

Wisconsin

GEICO

$556

$46

Wisconsin

State Farm

$568

$47

Wyoming

Farmers

$870

$72

Wyoming

State Farm

$745

$62

Wyoming

State 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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Expert Advice: Finding a Car Insurance Company That Meets Your Needs

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Easton Price
Easton Price

FINANCIAL PLANNING RESIDENT

Aaron Rubin
Aaron Rubin

JD, CPA, CFP®️

Ralph C. Freibert III, MBA, CFP®
Ralph C. Freibert III, MBA, CFP®

Partner & Chief Investment Officer at Planning Associates Wealth Management, LLC

Brandon R. Amaral, CFP®, EA
Brandon R. Amaral, CFP®, EA

Founder & Financial Planner, CERTIFIED FINANCIAL PLANNER™ and an Enrolled Agent at Amaral Financial Planning

Jeffrey Joseph
Jeffrey Joseph

President/Owner at Mitchell-Joseph Insurance Agency

Chris Waclawik
Chris Waclawik

Wealth Advisor

Rick Davis
Rick Davis

President at Magis Insurance Group LLC

Eric Weedin
Eric Weedin

Insurance Agent at Weedin Insurance

Elaine Luther, D.Sc.
Elaine Luther, D.Sc.

Business Management Professor at Point Park University

Jevay Grooms
Jevay Grooms

Assistant Professor of Economics at Howard University

Dr. Alexandra Aguirre-Rodriguez
Dr. Alexandra Aguirre-Rodriguez

Associate Professor Department of Marketing & Logistics at Florida International University

David Wilson, CFP, AIF, AIFA, CDFA
David Wilson, CFP, AIF, AIFA, CDFA

Registered investment Advisor at Vector Financial Solutions Inc.

Dr. Brenda Wells
Dr. Brenda Wells

Robert F. Bird Distinguished Professor of Risk and Insurance at East Carolina University; Director, Risk Management and Insurance Program

Suzy Taherian
Suzy Taherian

Adjunct Professor, UC Davis Graduate School of Management; CFO, Wrightspeed

Terrance Odean
Terrance Odean

Professor of Finance, Haas School of Business at the University of California, Berkeley

Robin Grambling
Robin Grambling

Senior Lecturer Department of Marketing and Management at the University of Texas at El Paso

Steven Pecsok
Steven Pecsok

Assistant Professor of Economics at Middlebury College

Audrey Guo
Audrey Guo

Assistant Professor of Economics at Santa Clara University

About Devon Delfino


Devon Delfino 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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