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.
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.
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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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.
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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.
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:
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.
$52/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.
$109/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
I feel like I am being way overcharged for my insurance since I have had no accidents or tickets in the last 10 years.
Theresa - September 14, 2023
Verified
I really enjoyed working with them, I just couldn't keep up with the expensive rates.
Becki - September 13, 2023
Verified
I was 5 stars until the recent increase, without any explanation.
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.
$82/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.
$147/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
My premiums continue to increase. I have no tickets and no accidents.
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.
$53/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.
$114/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
Unwilling to work with clients. Especially senior citizens on a fixed income.
Janina - September 10, 2023
Verified
Awesome customer service, good prices, easy to deal with.
Kathleen - September 9, 2023
Verified
Good treatment in responding to questions and handling of my accident, especially because I was not at fault. No hesitation in paying the repair bill and then collecting from the at-fault insurance company client's policy.
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.
$61/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.
$135/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
Handled a claim ok, but they keep raising my price every 6 months.
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.
$45/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.
$98/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
They are the best in customer service.
Brenda - September 13, 2023
Verified
Overall poor service, took a safe driving discount away because I wasn’t driving enough.
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.
$91/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.
$183/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
I don’t like talking to a computer. I’m a one-on-one kind of person.
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.
$106/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.
$237/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
No problems until the price went way up with no contact from the agent.
Dennis - September 10, 2023
Verified
I think they could do better with prices for a big organization.
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.
$89/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.
$196/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
They have the lowest rates I could find.
Elise - September 11, 2023
Verified
They are one of the few companies writing policies for a full year. All these "discount companies " miss lead you by quoting 6 month policies.
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.
$76/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.
$172/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
They're OK but too expensive.
Sally - July 21, 2023
Verified
They are nice people to do business with, just kind of expensive
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.
$84/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.
$185/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
Was very happy until I was told I would not be renewed as my agent was not with them anymore. I have to get a new agent and start as a new account after 50 years.
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.
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:
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.
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.
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.
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.
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.
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]
Find Cheap Car Insurance
Insurify partners with 70+ top insurers for accurate quotes
Secure. Free. Easy-to-use.
Based on 3,806+ reviews
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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 shoppingcan 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 driversinclude 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]
National Association of Insurance Commissioners and The Center for Insurance and Policy Research. "Capital Markets Special Report." Accessed August 8, 2023
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.
Edited byKatie PowersAuto and Life Insurance Editor
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.
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.
State Farm
Progressive
GEICO
Allstate
USAA
Liberty Mutual
Farmers
Travelers
American Family
Nationwide
