Which Companies Offer Car Insurance? The Biggest & Most Stable Car Insurance Companies in '21

The largest car insurance companies by market share are State Farm and GEICO. MoneyGeek broke down the top 10 by size and also ranked the companies by affordability and service quality.

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Last Updated: 5/30/2022
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You’ve heard the jingles, seen the slogans and probably even committed whole ads to memory by sheer repetition, but what exactly are you getting when you choose to do business with one of the largest car insurance companies? When the top ten largest car insurance companies take up 72.02% of the market share of car insurance policies in the United States, it’s important to know who these big brands are and what they offer. MoneyGeek’s evaluation of these large companies is based on the NAIC’s 2018 Market Share Report.

An easy reference list of those car insurance companies gets you to the information you need so that you can find the best car insurance option for you.

America’s Largest Auto Insurance Companies

These big car insurance companies take up the majority of the market share, which means that they account for the most policies out of all 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 able to pay out claims when needed.

No data available for US, 2020 (auto_insurance - market_share)
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List of All Car Insurance Companies and Reviews

MoneyGeek's Ranking of the Largest 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 learn how their car insurance works and find the best provider 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. Their parent company boasts 13.69% of the market share, and GEICO itself insures more than 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

Travelers provides more insurance options than its name suggests. 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 160 years. Travelers employs over 12,000 dedicated claims representatives. The high number of representatives translates to shorter wait times compared to companies with fewer reps and more customers. Additionally, they have 13,500 agents and about 30,000 employees. Travelers holds 1.96% of the market share.

Read MoneyGeek's Travelers auto Insurance Review
3
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 16.97% 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 nearly 19,000 agent offices to help provide in-person customer support. The company says that it handles nearly 36,000 claims per day. 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
4
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 military members 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 loans. According to USAA, which holds 5.55% of the market share, their customers can save $707 per year on premiums.

Read MoneyGeek's USAA auto Insurance Review
5
Farmers Insurance
Score:78

2/5

Affordability

4.5/5

Claims Ratings

2/5

Discounts

3/5

User Satisfaction

4/5

Financial Stability

More About Farmers Insurance

With commercials starring Academy Award-winning actor J.K. Simmons (as well as their rather one-note jingle), Farmers has made a bit of a splash in the advertising world. That helped give it a top spot in the market share, of which it holds 4.35%. The company was founded in 1928, and it now holds 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.

6
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 says that it can save people an average of $750 on auto insurance when they switch, and the brand holds 11.80% of the market share. Popularized with commercials with the character Flo, the company’s main draw comes from its quote tool, which allows potential customers to see options from other insurance companies at the same time. 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 over 18 million customers and employs over 38,000 agents.

Read MoneyGeek's Progressive auto Insurance Review
7
American Family
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

American Family was founded in 1927 and currently holds 1.94% of the market share, coming in tenth out of the ten largest car insurance companies in the country. American Family has about 12,000 employees, spread across a 14-company enterprise. The company brand is built around the idea of helping families protect and restore their dreams. Customers will find a wide array of insurance products with the company, especially when compared with other nine companies listed.

Read MoneyGeek's American Family auto Insurance Review
8
Liberty Mutual
Score:67

1.7/5

Affordability

3/5

Claims Ratings

5/5

Discounts

3/5

User Satisfaction

4/5

Financial Stability

More About Liberty Mutual

Holding 4.65% of the market share, Liberty Mutual is well known for its “only human” marketing campaign and association with Statue of Liberty imagery. Liberty Mutual was founded in 1912 and spans property insurance, life policies and business insurance. Customers can save up to 30% by driving with a right-track plugin in their car for 90 days. The company has over 45,000 employees worldwide, and for the first quarter of 2020, it took in a net of $519 million. And for people who aren’t a fit or can’t qualify for Liberty Mutual’s car insurance, Safeco, a subsidiary, may be a good option.

Read MoneyGeek's Liberty Mutual auto Insurance Review
9
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 8.92% of the market share, according to the NAIC. 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
10
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 2.65% 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 version of a safe driving discount) can get an automatic 10% off their policy — up to 40% off depending on how their driving is evaluated.

Read MoneyGeek's Nationwide auto Insurance Review

Benefits Offered by the Largest Auto Insurance Companies

When you select a large 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 reviews to consult, thereby giving you a more comprehensive understanding. The financial stability and technological features offered by an auto insurance company should also be considered.

Financial Stability of the Largest Auto Insurance Companies

AM Best rates the perceived financial strength of insurance companies as well as their ability to meet policyholder obligations whenever a claim is made. While this isn’t a guarantee that a company will pay out in the event of a claim or their overall financial strength, it is helpful context when comparing companies. Grades are assigned to each company. For example, an “A” rating is considered stable.

No data available for US, 2020 (auto_insurance - financial_stability)

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 a long period. But sometimes that long history can mean dealing with a slower-moving company, especially when it comes to 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 options based on that as well as your 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 upload photos and documents, manage their policies and even get roadside assistance.
  • SmartRide savings: Nationwide’s app provides drivers with the opportunity 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.
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The Biggest Auto Insurance Company in Each State

Although the companies listed hold the largest overall market share, the statistics don’t necessarily replicate the same on a state-by-state level. People seeking auto insurance should always check out the specific offerings for the state they live in for the most accurate rates. For example, State Farm doesn’t currently offer new policies in Massachusetts, even though it has the largest overall market share in the country.

Find Cheap Car Insurance by State

AlabamaState Farm is the default in AL

AlaskaState Farm is the default in AK

ArizonaGEICO is the default in AZ

ArkansasState Farm is the default in AR

CaliforniaState Farm is the default in CA

ColoradoState Farm is the default in CO

ConnecticutGEICO is the default in CT

DelawareState Farm is the default in DE

District Of ColumbiaGEICO is the default in DC

FloridaGEICO is the default in FL

GeorgiaState Farm is the default in GA

HawaiiGEICO is the default in HI

IdahoState Farm is the default in ID

IllinoisState Farm is the default in IL

IndianaState Farm is the default in IN

IowaState Farm is the default in IA

KansasState Farm is the default in KS
KentuckyState Farm is the default in KY

LouisianaState Farm is the default in LA

MaineProgressive is the default in ME

MarylandGEICO is the default in MD

MassachusettsMAPFRE INS GRP is the default in MA

MichiganState Farm is the default in MI

MinnesotaState Farm is the default in MN

MississippiState Farm is the default in MS

MissouriState Farm is the default in MO

MontanaState Farm is the default in MT

NebraskaState Farm is the default in NE

NevadaState Farm is the default in NV

New HampshireGEICO is the default in NH

New JerseyGEICO is the default in NJ

New MexicoState Farm is the default in NM

New YorkGEICO is the default in NY

North CarolinaState Farm is the default in NC

North DakotaProgressive is the default in ND
OhioState Farm is the default in OH

OklahomaState Farm is the default in OK

OregonState Farm is the default in OR

PennsylvaniaState Farm is the default in PA

Rhode IslandProgressive is the default in RI

South CarolinaState Farm is the default in SC

South DakotaState Farm is the default in SD

TennesseeState Farm is the default in TN

TexasState Farm is the default in TX

UtahState Farm is the default in UT

VermontProgressive is the default in VT

VirginiaGEICO is the default in VA

WashingtonState Farm is the default in WA

West VirginiaState Farm is the default in WV

WisconsinAmerican Family is the default in WI

WyomingState Farm is the default in WY
AlabamaState Farm is the default in AL

AlaskaState Farm is the default in AK

ArizonaGEICO is the default in AZ

ArkansasState Farm is the default in AR

CaliforniaState Farm is the default in CA

ColoradoState Farm is the default in CO

ConnecticutGEICO is the default in CT

DelawareState Farm is the default in DE

District Of ColumbiaGEICO is the default in DC

FloridaGEICO is the default in FL

GeorgiaState Farm is the default in GA

HawaiiGEICO is the default in HI

IdahoState Farm is the default in ID

IllinoisState Farm is the default in IL

IndianaState Farm is the default in IN

IowaState Farm is the default in IA

KansasState Farm is the default in KS

KentuckyState Farm is the default in KY

LouisianaState Farm is the default in LA

MaineProgressive is the default in ME

MarylandGEICO is the default in MD

MassachusettsMAPFRE INS GRP is the default in MA

MichiganState Farm is the default in MI

MinnesotaState Farm is the default in MN

MississippiState Farm is the default in MS

MissouriState Farm is the default in MO
MontanaState Farm is the default in MT

NebraskaState Farm is the default in NE

NevadaState Farm is the default in NV

New HampshireGEICO is the default in NH

New JerseyGEICO is the default in NJ

New MexicoState Farm is the default in NM

New YorkGEICO is the default in NY

North CarolinaState Farm is the default in NC

North DakotaProgressive is the default in ND

OhioState Farm is the default in OH

OklahomaState Farm is the default in OK

OregonState Farm is the default in OR

PennsylvaniaState Farm is the default in PA

Rhode IslandProgressive is the default in RI

South CarolinaState Farm is the default in SC

South DakotaState Farm is the default in SD

TennesseeState Farm is the default in TN

TexasState Farm is the default in TX

UtahState Farm is the default in UT

VermontProgressive is the default in VT

VirginiaGEICO is the default in VA

WashingtonState Farm is the default in WA

West VirginiaState Farm is the default in WV

WisconsinAmerican Family is the default in WI

WyomingState Farm is the default in WY
AlabamaState Farm is the default in AL

AlaskaState Farm is the default in AK

ArizonaGEICO is the default in AZ

ArkansasState Farm is the default in AR

CaliforniaState Farm is the default in CA

ColoradoState Farm is the default in CO

ConnecticutGEICO is the default in CT

DelawareState Farm is the default in DE

District Of ColumbiaGEICO is the default in DC

FloridaGEICO is the default in FL
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Expert Advice: Finding a Car Insurance Company That Meets Your Needs

  1. With many options for auto insurance providers, what is the best way for drivers to create a list of car insurance companies that meet their needs?
  2. What are the advantages and benefits of getting auto coverage with a well-known car insurance company?
  3. What are some of the best ways to compare auto insurance providers to find the best company for your needs?
Dr. Alexandra Aguirre-Rodriguez
Dr. Alexandra Aguirre-Rodriguez

Associate Professor Department of Marketing & Logistics at Florida International University

Jevay Grooms
Jevay Grooms

Assistant Professor of Economics at Howard University

Audrey Guo
Audrey Guo

Assistant Professor of Economics at Santa Clara University

Steven Pecsok
Steven Pecsok

Assistant Professor of Economics at Middlebury College

Robin Grambling
Robin Grambling

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

Terrance Odean
Terrance Odean

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

Elaine Luther
Elaine Luther

Business Management Professor at Point Park University

Emad AbouElgheit
Emad AbouElgheit

Associate Professor of Marketing at Western Connecticut State University

Suzy Taherian
Suzy Taherian

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

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

About the Author


expert-profile

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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