The 10 Largest Auto Insurance Companies in the U.S.

Top insurers State Farm, Progressive, GEICO, and Allstate account for more than half the total car insurance market.

Jessica Martel
Written byJessica Martel
Jessica Martel
Jessica Martel

Jessica is a freelance writer, professional researcher, and mother of two rambunctious little boys. She specializes in personal finance, women and money, and financial literacy. Jessica is fascinated by the psychology of money and what drives people to make important financial decisions. She holds a Masters of Science degree in Cognitive Research Psychology.

Katie Powers
Edited byKatie Powers
Photo of an Insurify author
Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

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Mark Friedlander
Reviewed byMark Friedlander
Mark Friedlander
Mark FriedlanderDirector, Corporate Communications
  • Corporate communications director for Insurance Information Institute

  • 20+ years in insurance and communications

As Director, Corporate Communications for Triple-I, Mark serves as the non-profit’s national spokesperson, sharing information and education on a wide array of insurance issues.

Updated April 22, 2024

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Several thousand car insurance companies operate in the U.S. Knowing which auto insurers are the largest can give you an idea of a company’s financial stability and a general understanding of its coverage availability in your area. And by reviewing auto insurance industry ratings, you can learn more about a company’s customer service and claims satisfaction.

Here’s what you should know about the biggest auto insurance companies.

Cheapest recent rates

Drivers using Insurify have found quotes as cheap as $36/mo for liability only and $39/mo for full coverage.

*Quotes generated for Insurify users within the last 10 days. Last updated on April 22, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from April 22, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

*Quotes generated for Insurify users within the last 10 days. Last updated on April 22, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from April 22, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

10 largest auto insurance companies by market share

The 10 largest car insurance companies account for nearly 77% of the total car insurance market, according to the most recent data from the National Association of Insurance Commissioners (NAIC).[1] State Farm holds the largest share of private passenger auto insurance, at nearly 17%. The second-largest car insurance company is Progressive, at 14%.

Composed of a diverse group of state insurance regulators, the NAIC helps state insurance commissioners by providing them with expertise, data, and analysis of insurance trends and legislation. Each year, the NAIC releases a list of priorities to focus on. For instance, the priorities for 2023 include looking at the impact of climate risk, artificial intelligence, and long-term care insurance needs.

The most recent NAIC data is from 2022. The 2023 market share report will come out by mid-year 2024.

Insurance Company2022 Rank and Market Share2021 Rank and Market Share2
State Farm Mutual Automobile Insurance

Rank: 1

Market share: 16.84%

Rank: 1

Market share: 15.93%

Progressive Corp.

Rank: 2

Market share: 14.05%

Rank: 3

Market share: 13.70%

Berkshire Hathaway Inc. (GEICO)

Rank: 3

Market share: 13.76%

Rank: 2

Market share: 14.30%

Allstate Corp.

Rank: 4

Market share: 10.69%

Rank: 4

Market share: 10.41%

USAA Insurance Group

Rank: 5

Market share: 5.92%

Rank: 5

Market share: 6.01%

Liberty Mutual

Rank: 6

Market share: 4.95%

Rank: 6

Market share: 4.88%

Farmers Insurance Group of Companies

Rank: 7

Market share: 4.55%

Rank: 7

Market share: 4.76%

Travelers Companies Inc.

Rank: 8

Market share: 2.11%

Rank: 10

Market share: 2.04%

American Family Insurance Group

Rank: 9

Market share: 2.11%

Rank: 9

Market share: 2.10%

Nationwide Mutual Group

Rank: 10

Market share: 1.99%

Rank: 8

Market share: 2.13%

A combined ratio is a common measurement of an insurer’s profitability. This ratio compares the amount a company collects in premiums to how much it pays out in claims annually. For instance, if the insurance company pays $50 in claims and collects $100 in premiums, it has a combined ratio of 50.

A higher ratio correlates to lower profits for the company. The combined ratio for the personal auto sector was 112.2 in 2022, the industry's worst performance in more than a decade. Simply put, this means that for every $1 in premiums insurers collected in 2022, they paid nearly $1.12 in claims. The Insurance Information Institute predicts a 109.5 combined ratio for 2023.

You can also measure profitability by looking at the combined ratio, which is calculated by dividing the amount a company pays its customers in claims and other expenses by the amount it collects in premiums. In 2022, the property and casualty (P&C) insurance sector saw a net combined ratio of nearly 111.8%, according to data published by S&P Global and included in Insurify’s 2023 car insurance report.

Find the direct premiums written, combined ratio, and market share change in 2022 for the top 10 auto insurers in the country below:

1. State Farm

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.4
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$54/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$116/mo

Direct premiums written: $46.7 billion

Combined ratio: 98.21

Market share change: 0.91%

Pros
  • High rates of customer satisfaction

  • Rideshare insurance available

Cons
  • No gap insurance offering

  • May not be the cheapest choice for drivers with violations

Read our State Farm review
Wanda Carole - April 22, 2024
Verified

Excellent

Check out other companies and their rates before making a decision.

Perry - April 22, 2024
Verified

Pricing

Be careful of the price quoted. It can change.

Sandra - April 21, 2024
Verified

Fair

They are the cheapest car insurance around.

2. Progressive

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
819
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$81/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$143/mo

Direct premiums written: $38.9 billion

Combined ratio: 70.79

Market share change: 0.35%

Pros
  • Rewards for good drivers

  • Numerous coverage options and discounts available

Cons
  • Higher-than-expected amount of complaints

  • Ranked 11 out of 15 companies in the J.D. Power Customer Satisfaction Index Ranking

Read our Progressive review
Angie - April 22, 2024
Verified

Expensive

It's getting more expensive every time.

Betty - April 21, 2024
Verified

I think I got a little more than I expected. They are a company with integrity. I am checking rates but I am not sure I will change companies.

I think I got a little more than I expected. They are a company with integrity. I am checking rates but I am not sure I will change companies.

Robin - April 21, 2024
Verified

Too Expensive

It's too expensive for older drivers.

3. Berkshire Hathaway (GEICO)

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.3
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
835
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$54/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$119/mo

Direct premiums written: $38.1 billion

Combined ratio: 87.96

Market share change: -0.54%

Pros
  • Good rates for good drivers, seniors, and young drivers

  • Accident forgiveness available

Cons
  • High rates for drivers with certain violations, like DUIs

  • No rideshare or new car replacement coverage available

Read our GEICO review
Rosita - April 22, 2024
Verified

Happy One Day, Sad the Next

One year, my policy was nice and low, but the next year they jacked it up. I didn't even do anything wrong. This really upset me. I never even got a reason why.

Gloria - April 22, 2024
Verified

Poor

Find another insurance company. Geico is too expensive and doesn't live up to their promises.

Louis - April 20, 2024
Verified

Excellent

Good service, good price.

4. Allstate

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.2
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
833
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$62/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$138/mo

Direct premiums written: $29.6 billion

Combined ratio: 81.38

Market share change: 0.28%

Pros
  • Well-established with superior ratings from AM Best

  • Pay-per-mile option available

Cons
  • Low customer satisfaction

  • Rates are merely average compared to other insurers

Read our Allstate review
James - April 22, 2024
Verified

Good

Very good but expensive.

John - April 21, 2024
Verified

Allstate is great, but we are looking to save more money. We are two seniors with two vehicles, one of which has comprehensive and collision coverage.

Allstate is great, but we are looking to save more money. We are two seniors with two vehicles, one of which has comprehensive and collision coverage.

Marcia - April 21, 2024
Verified

Less Expensive Options, Same Coverage

It's too much money.

5. United Services (USAA)

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.3
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
880
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$46/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$100/mo

Direct premiums written: $16.4 billion

Combined ratio: 92.79

Market share change: -0.09

Pros
  • Low premiums

  • SafePilot program rewards good driving with up to 30% discount

Cons
  • Only available to active-duty military, veterans, military spouses, or children of service members or veterans

  • No 24/7 customer phone support

Read our USAA review
Bill - April 22, 2024
Verified

Reluctant Switcher

Excellent, very positive! I only switched to consolidate our farm property insurance together with auto policies.

Marvin - April 21, 2024
Verified

Excellent

So far, so good.

Robert - April 19, 2024
Verified

USAA is the finest. Period.

I've been a member for over 50 years, and have always been pleased with the service. It's a first-class organization.

6. Liberty Mutual

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
3.8
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
819
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$97/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$205/mo

Direct premiums written: $13.7 billion

Direct loss ratio: 73.69

Market share change: 0.07%

Pros
  • Wide range of available discounts

  • Accident forgiveness available

Cons
  • Many negative reviews and customer complaints

  • Premiums are relatively high compared to industry average

Read our Liberty Mutual review
Kevin - April 20, 2024
Verified

Affordable Rates

They are cheaper than anyone else. Comparing with other companies, even through your company, seems like a joke.

Christine - April 20, 2024
Verified

I Want to Trust My Insurance Salesman

I hope that Liberty is truthful about their car insurance. They promised that after three months, I would receive mileage credit as I drive less than 50 miles a month.

Gregory - April 18, 2024
Verified

Changing Carriers!!!

Always get prices in writing. My price increased by 60% for no apparent reason. I've had the same vehicle for 2 years and suddenly the prices increased by 60%. I'm definitely switching carriers!!!

7. Farmers

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
3.8
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
815
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$111/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$249/mo

Direct premiums written: $12.6 billion

Combined ratio: 69.96

Market share change: -0.21%

Pros
  • Many discounts

  • Robust roadside assistance program

Cons
  • Lower customer satisfaction

  • Tends to have higher premiums than some competitors

Read our Farmers review
Elizabeth - April 22, 2024
Verified

It's too expensive. The rates increased by roughly $700.00 this year. I would not recommend it based on these rates.

It's too expensive. The rates increased by roughly $700.00 this year. I would not recommend it based on these rates.

Maria - April 21, 2024
Verified

No

I have had good experiences with other insurance companies I've been with before. I came to Farmers because they bought the insurance company I was with at that time.

Virginia M - April 20, 2024
Verified

High Rates for Good Drivers

The experience with the agent was excellent, but the rates are terrible. I am 91 years old and I've never had a ticket for speeding or drunk driving. The only claim I ever had was when a deer ran into me in Minnesota. In Minnesota, that is not considered a chargeable accident against the driver. Currently, your rates are so high. Almost $200 a month is too much considering my good record and minimal driving. I have tried everything I can think of to find something cheaper. The office staff is great and I hate to leave them, but I have to find something more affordable. If I had a bad record, that $200 amount per month would be acceptable.

8. Travelers

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.3
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
829
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$90/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$197/mo

Direct premiums written: $5.8 billion

Combined ratio: 76.48

Market share change: 0.07%

Pros
  • Accident forgiveness available

  • Robust coverage selections and discount offerings

Cons
  • Rideshare coverage only available in Colorado and Illinois

  • High percentage of 1-star reviews on Trustpilot

Read our Travelers review
Raymond Gary - April 21, 2024
Verified

Disappointed with the Outcome

We had a very minor collision while waiting at a traffic light. The vehicle in front of us claimed we crept forward. Since there was very little damage (none to our car), we submitted the claim. To our surprise, we found that the other driver reported $3000 worth of damage to the rear of his car, with the only visible damage being a cracked piece of chrome trim at the base of the hatch. We called Travelers immediately, warning them that it was a scam. They seemed indifferent and said they would pay the claim. This could be one of the reasons why insurance rates are so expensive.

Willard - April 13, 2024
Verified

No

Too expensive.

Jeffrey - March 23, 2024
Verified

Excellent

Fast.

9. American Family

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.2
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
840
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$77/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$174/mo

Direct premiums written: $5.8 billion

Combined ratio: 78.40

Market share change: 0.01%

Pros
  • High rates of customer satisfaction

  • Numerous discount and coverage options

Cons
  • Only available in 18 states

  • Rates are merely moderate compared to other insurers

Read our American Family review
Keith - April 12, 2024
Verified

Horrible

They are uncaring, overpriced, and rude.

Hugh - April 1, 2024
Verified

Excellent

It was good for several years, then the price went up.

David - March 28, 2024
Verified

Horrible

They increase your policy's cost double even without any accidents or tickets.

10. Nationwide

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.1
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
815
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$85/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$186/mo

Direct premiums written: $5.5 billion

Combined ratio: 73.76

Market share change: -0.14%

Pros
  • Numerous discount and savings opportunities

  • SmartRide (for safe drivers) and SmartMiles (for low-mileage drivers)

Cons
  • Not available in every state

  • Some discounts and programs not available in all states

Read our Nationwide review
Richard - April 19, 2024
Verified

Overpricing the Customer

They are better than most, but a little pricey.

Janet - April 18, 2024
Verified

Nationwide is a good insurance company, but I'm looking for a cheaper place with the same coverage. My premiums increase every 6 months for no apparent reason. I haven't had any accidents, tickets, DUIs, or anything else. I used to wonder why a policy went to 6 months instead of 12, but I finally figured it out. They can raise your coverage twice in a year, which seems very unfair. I'm retired.

Nationwide is a good insurance company, but I'm looking for a cheaper place with the same coverage. My premiums increase every 6 months for no apparent reason. I haven't had any accidents, tickets, DUIs, or anything else. I used to wonder why a policy went to 6 months instead of 12, but I finally figured it out. They can raise your coverage twice in a year, which seems very unfair. I'm retired.

Antoinette - April 8, 2024
Verified

Nationwide is not on your side

My rate doubled for no apparent reason. I have no tickets and no accidents.

Largest car insurance companies by state

Insurance rates vary based on location because different areas have different levels of risk. For instance, if you live in a city with a bigger population and more traffic congestion, you’ll typically see higher rates because more vehicles result in a higher risk of accidents. Crime rates, weather patterns, state insurance requirements, and more can all affect rates.

Here are the biggest insurance companies by market share in each state, per data from the NAIC, along with the company’s average monthly full-coverage quote, according to internal Insurify data.

StateBiggest Auto InsurersAverage Quote: Full Coverage
AlabamaState Farm$69
AlaskaState Farm$112
ArizonaGEICO$97
ArkansasState Farm$59
CaliforniaState Farm$345
ColoradoState Farm$98
ConnecticutGEICO$120
DelawareState Farm$123
FloridaGEICO$83
GeorgiaState Farm$102
HawaiiGEICO$85
IdahoProgressive$93
IllinoisState Farm$50
IndianaState Farm$55
IowaProgressive$104
KansasProgressive$95
KentuckyState Farm$105
LouisianaState Farm$122
MaineProgressive$75
MarylandGEICO$183
MassachusettsMAPFRE$130
MichiganProgressive$185
MinnesotaProgressive$149
MississippiState Farm$70
MissouriState Farm$67
MontanaState Farm$103
NebraskaProgressive$101
NevadaGEICO$105
New HampshireProgressive$90
New JerseyGEICO$166
New MexicoState Farm$62
New YorkGEICO$205
North CarolinaAllstate$86
North DakotaProgressive$91
OhioProgressive$116
OklahomaState Farm$61
OregonState Farm$78
PennsylvaniaState Farm$103
Rhode IslandProgressive$196
South CarolinaState Farm$92
South DakotaProgressive$113
TennesseeState Farm$46
TexasProgressive$172
UtahState Farm$132
VermontProgressive$94
VirginiaGEICO$91
WashingtonState Farm$116
Washington, D.C.GEICO$148
West VirginiaState Farm$54
WisconsinProgressive$105
WyomingProgressive$104
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

National vs. regional insurance companies: What’s the difference?

Direct premiums written and market share are key differentiators between national and regional insurance companies. National insurers typically provide coverage to multiple regions or nationwide. Regional companies provide insurance to a specific region of the country, or sometimes just one state. Depending on the type of coverage you want, national and regional insurers each have advantages and disadvantages.

For example, national insurers generally offer a wider range of insurance products than regional companies, may provide 24/7 customer support, and can invest more regularly in new technology and services due to a sizable budget. The size, however, can also potentially mean a lack of personal customer support and less flexibility due to corporate regulations.

By comparison, some drivers prefer regional insurers because companies can tailor policies to meet local needs and policyholders can form a relationship with an agent in their community. It also presents an opportunity to support your local economy. Potential drawbacks include shorter business hours and a smaller budget to invest in digital tools and services.

Mutual insurance companies vs. stock insurance companies

Mutual and stock insurance companies operate under different ownership structures. Within a mutual insurance company, the policyholders collectively own the company. The aim of a mutual insurance company is to maintain enough profit to meet policyholder needs. Policyholders may benefit from company profits via dividend distributions or reduced future premiums.

In a stock insurance company, the owners are external shareholders. The goal of a stock insurer is to maximize profits for its shareholders. Policyholders don’t directly feel the effect of a stock insurance company’s profits or losses.[2]

Unlike stock insurance companies, mutual insurance companies tend to focus more on the long-term health of the company rather than prioritizing short-term shareholder profits. However, this also means mutual insurers aren’t as financially flexible as stock insurers because they can’t raise capital by selling shares.

Factors that affect car insurance rates

Several factors can influence car insurance rates, including the following:

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    Location

    Different geographical locations present different risks. If you live in an area with higher rates of crime or accidents, you can expect to pay more. Your state, city, and ZIP code can all affect your premium.

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    Age

    Younger drivers typically pay the most for car insurance because they present a larger risk to insurers due to a lack of experience. After age 25, rates typically start to decrease.

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    Gender

    Women have fewer accidents, driving under the influence (DUI) charges, and serious accidents than their male counterparts, according to the Insurance Information Institute (Triple-I). As a result, women often pay less for car insurance than men.

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    Driving record

    If you’ve had any accidents or serious traffic violations, you can expect to pay more for car insurance than a safe driver. A clean driving record will help you secure a better rate.

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    Type of vehicle insured

    The make and model of your car also influence your insurance rate. Insurers might increase your premium if you drive an expensive car that will cost a lot to repair. But you can earn a discount if your car has top-of-the-line safety features.

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    Miles driven per year

    The more you drive, the higher your chances of getting in an accident. As a result, you can expect to pay more for insurance if you spend a lot of time on the road.[3]

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How to choose an insurance company

When trying to choose the best insurance company to fit your needs, you should compare the following features:

  • Cost: The cost of insurance can vary widely between companies. Comparison shopping can help you find a company that fulfills your insurance needs and offers competitive rates. The Triple-I recommends getting at least three quotes from different companies before making a decision.[4]

  • Size: Working with a national or regional insurance company has pros and cons, so you should consider your specific needs when comparing companies. Do you want the 24/7 customer service offered by a national company, or are you more interested in forming a relationship with a local insurance agent?

  • Industry ratings: To understand how different insurance companies stack up against each other, you can review industry ratings from AM Best, J.D. Power, and the NAIC. These ratings provide objective information on a company’s financial strength, customer service, and claims satisfaction.

  • Car insurance discounts: Many insurance companies offer a wide variety of insurance discounts. Common driver-based discounts reward safe drivers, military personnel, and good students.

  • Customer reviews: Read customer reviews on websites like Trustpilot to get a sense of customer satisfaction. If you see the same kind of complaints multiple times, you should use caution before working with a company.

Comparison shopping online is a quick and easy way to get all the information you need to choose the car insurance company that fits your needs and budget.

Car insurance company FAQs

The following information provides more insight if you still have questions about the largest auto insurers in the U.S. and what they offer policyholders.

  • Which car insurance company is the biggest?

    The largest insurance company in the U.S. is State Farm. It has the largest market share of private passenger auto insurance, at nearly 17%, according to 2022 data from the National Association of Insurance Commissioners. State Farm has been in business for more than 100 years and offers a range of insurance products, including car, home, and life insurance.

  • Which car insurance company has the lowest rates?

    Car insurance rates can vary widely by company, based on several variables, including where you live, your age, the type of vehicle you drive, and your driving history. Your rate will also depend on the type of insurance you want. For example, minimum liability coverage options are the cheapest car insurance available.

    A recent Insurify analysis of the cheapest car insurance companies listed COUNTRY Financial as the cheapest overall, NJM (formerly New Jersey Manufacturers) as the cheapest regional company, and Nationwide as the cheapest company for good drivers.

  • Do larger insurance companies have better car insurance rates?

    Insurance rates depend on several factors and prices can vary greatly between insurance companies, both regional and national. Larger car insurance companies may often offer low rates because of their scale, but many regional insurers are also competitive.

  • Which car insurance company is best for paying claims?

    According to the J.D. Power 2022 U.S. Auto Claims Satisfaction Study, the best companies for paying claims include Amica, NJM, Erie, Allstate, Farmers, State Farm, American Family, and GEICO.[5] If you get in a car accident, you want to feel confident that your insurance company will issue a payment. This is why it’s so important to find the right insurer.

  • Which car insurance company is best for young drivers?

    The best car insurance companies for young drivers include State Farm, USAA, and American Family, thanks to affordable rates and discounts. Drivers younger than 25, specifically teen drivers between the ages of 16 and 19, typically pay the highest insurance rates because they’re more at risk of car crashes than any other age group.[6]

Sources

  1. National Association of Insurance Commissioners. "Property and Casualty Insurance Industry 2022 Top 25 Groups and Companies by Countrywide Premium."
  2. National Association of Insurance Commissioners and The Center for Insurance and Policy Research. "Capital Markets Special Report."
  3. Insurance Information Institute. "What determines the price of an auto insurance policy?."
  4. Insurance Information Institute. "Choosing an insurance company."
  5. J.D. Power. "Insurers Struggle to Manage Expectations in Auto Claims Process as Repair Times Increase, J.D. Power Finds."
  6. Centers for Disease Control and Prevention. "Teen Drivers: Get the Facts."
Jessica Martel
Jessica Martel

Jessica is a freelance writer, professional researcher, and mother of two rambunctious little boys. She specializes in personal finance, women and money, and financial literacy. Jessica is fascinated by the psychology of money and what drives people to make important financial decisions. She holds a Masters of Science degree in Cognitive Research Psychology.

Katie Powers
Edited byKatie PowersAuto and Life Insurance Editor
Photo of an Insurify author
Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

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Mark Friedlander
Reviewed byMark FriedlanderDirector, Corporate Communications
Mark Friedlander
Mark FriedlanderDirector, Corporate Communications
  • Corporate communications director for Insurance Information Institute

  • 20+ years in insurance and communications

As Director, Corporate Communications for Triple-I, Mark serves as the non-profit’s national spokesperson, sharing information and education on a wide array of insurance issues.

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