Top 10 Biggest Auto Insurance Companies In America

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The biggest auto insurers in the US have the greatest brand-recognition as a result of centuries-old marketing. Big names in the insurance business are recognizable to the average American: State Farm, Nationwide, Allstate, Progressive, GEICO – they are all household names. The ten largest insurers comprise more than half of the auto insurance market in the country. Which one is the largest? This list features the top 10 largest auto insurance companies ranked by market share and profit margins. Their policies vary and certain insurers are more exclusive. Example: USSA only services military personnel and their immediate families.

1. State Farm

  • Premiums written: $41.8B
  • Market share: 18%
  • Employees: 65,664
  • Headquarters: Bloomington, IL

State Farm is the largest auto insurer in the United States by far – this company controls 18 percent of the auto insurance market, leading ahead of its main competitor GEICO. State Farm’s policies include a personal agent for each customer and a high degree of customer service. This is backed by their sheer size which adds to the stability factor of the corporation. Despite that, State Farm clients are statistically paying 16% higher rates than clients of other major insurers on average.

2. GEICO

  • Premiums written: $29.6B
  • Market share: 13%
  • Employees: 40,000
  • Headquarters: Chevy Chase, MA

GEICO is a national insurer that started as an insurance company for government employees – GEICO is currently the 2nd largest auto insurance company in the US, controlling 13% of the market share and writing $29.6B in yearly premiums. GEICO provides other add-on vehicle insurance policies such as motorcycle insurance and all-terrain vehicle insurance. GEICO directly sells their policies through their offices located in 50 states and policies can be purchased online via their website or app. Clients can optionally order their policies through Amazon Alexa. GEICO offers discounts for auto insurance clients who combine multiple policies in a bundle.

3. Progressive

  • Premiums written: $22.8B
  • Market share: 10%
  • Employees: 33,000
  • Headquarters: Mayfield, OH

Progressive specializes in auto insurance and receives above-average ratings for customer service. Progressive currently controls 11% of the US auto insurance market and writes $22.8B in yearly premiums. The average vehicle coverage policy costs $15 more than that of other major providers. Progressive also extends to provide various premium auto insurance options.

4. Allstate

  • Premiums written: $21.4B
  • Market share: 9%
  • Employees: 45,000
  • Headquarters: Northfield Township, IL

Allstate is an all-around insurance group that provides a range of vehicle insurance options in addition to auto insurance. Allstate provides services in all 50 states and currently controls 9% of the auto insurance market – writing $21.4B in yearly premiums. Allstate sells their auto insurance through a network of independent agents, and the company allows payments via their mobile app that includes features for checking on claims updates. Allstate offers bundles for auto insurance and home insurance policies including discounts.

5. USAA

  • Premiums written: $13.2B
  • Market share: 6%
  • Employees: 32,000
  • Headquarters: San Antonio, TX

USAA exclusively services members of the United States Armed Forces – their services are only provided to members of the military and veterans. Despite the military-only regulation, USAA manages to control 6% of the US auto insurance market and writes $13.2B in yearly premiums. Research finds that USAA’s rates are below the market average for large insurers and they provide some of the most affordable rates.

6. Liberty Mutual

  • Premiums written: $11.6B
  • Market share: 5%
  • Employees: 50,000
  • Headquarters: Boston, MA

Liberty Mutual is the 6th largest auto insurance company, providing nationwide services in all 50 states including Washington D.C. Liberty’s policies can be purchased directly online where clients can obtain quotes and they sell them via Amazon Alexa as well. Liberty offers unique auto insurance options such as insurance for vintage/antique/collector cars, all-terrain cars, off-road vehicles, trailers and recreational vehicles. Liberty Mutual provides an app that allows you to make payments or track the progress on your claims. The app also has emergency roadside support.

7. Farmers

  • Policies written: $10.4B
  • Market share: 4%
  • Headquarters: Woodland Hills, CA

Farmers is a California-based insurance company that provides general insurance options in addition to auto insurance. The company receives high customer praise with an average 4-star rating. Farmers customers are entitled to their own agent to help them with claims. Farmers policies are slightly more expensive than the average among large insurers.

8. Nationwide

  • Policies written: $7.3B
  • Market share: 3%
  • Employees: 32,000
  • Headquarters: Columbus, OH

Nationwide is the 7th largest auto insurance company by market share, controlling 3% of the auto insurance market. Despite their name the company is not “nationwide” – they don’t service the states of Alaska, Hawaii, Louisiana, and Massachusetts. Nationwide sells their policies directly online or through independent agents. Nationwide also has a mobile app for easy payments and roadside assistance.

9. Travelers

  • Policies written: $4.4B
  • Market share: 2%
  • Employees: 30,000
  • Headquarters: New York, NY

Travelers specializes in commercial insurance and currently dominates the commercial real estate insurance industry. Travelers auto insurance policies make them the #9th in the US with a 2% market share. Travelers Insurance auto policies are affordable and much below the market average among large insurers – their customer service rankings are also top notch.

10. AmFam

  • Policies written: $4.4
  • Market share: 2%
  • Employees: 11,000
  • Headquarters: Madison, WI

AmFam (Short for “American Family”) is tied with Travelers – controlling 2% of the market share despite only operating in half of all US states. AmFam specializes in their immediate area around Wisconsin – namely the Midwest and the West. The company writes $4.4B in yearly premiums and agents supply customers with quotes. AmFam also has a mobile app for filing claims and getting help.

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