Top 10 Largest Auto Insurance Companies In 2024

auto insurance companies

Best and Largest Auto Insurance Companies will be described in this article. Even if the largest companies cover a sizable number of procedures, they differ in terms of cost, level of service, and many other factors. Compare the list of the top 10 auto insurance providers in the U.S. and what distinguishes them from one another to help you decide which provider is best for you.

Which auto insurance providers are the biggest?

According to market share and premiums written, State Farm leads the nation’s auto insurance industry, followed by Geico, Progressive, and Allstate.

The majority of the names are familiar when looking at the rankings of the leading automobile insurance providers in the United States because to their widespread television advertising campaigns.

Top 10 Largest Auto Insurance Companies In November 2024

Top 10 Largest Auto Insurance Companies In November 2022 are explained here.

1. State Farm

State Farm

Anyone looking for a local agent, a specialised experience, and rates that are lower than average should consider State Farm as their auto insurance provider. Also check Family Mediation Services

$1,310 as the average yearly premium

16% of the market

Writt premiums: $40.4 billion

4.5 out of 5 on ValuePenguin


Power rating for client satisfaction: 892

Read our thorough State Farm evaluation.

State Farm, which holds 16% of the total market share, is the biggest auto insurance provider in the United States.

State Farm receives more than 15% of the money paid in the nation for private passenger auto premiums.

The organisation currently has almost 19,000 agents and about 60,000 workers.

Since State Farm is a mutual insurance firm, its customers are its owners.

State Farm had the cheapest vehicle insurance prices across the majority of the United States among the biggest, most accessible car insurers on this list.

2. Geico


One of the multiple affordable car insurance providers is Geico.

It provides nationwide accessibility and a simple buying experience.

$1,917 on average each year in premium

14% of the market

Premiums paid: $33.9 billion

4.4 out of 5 on ValuePenguin


Customer satisfaction score for Power: 881

Review of Geico in its entirety can be found here.

More than 16 million auto insurance policies covering more than 24 million vehicles have been underwritten by Geico, the company famous for its animated gecko commercials.

Because of its scale, the corporation is able to employ over 40,000 individuals throughout nine regional offices, three service centres, and three claims centres.

U.S. government employees and military personnel made up the bulk of Geico’s initial clientele.

Customers from the private sector are now a part of the insurance company’s customer base.

According to our analysis of the biggest auto insurance providers, Geico is the top provider for college students.

3. Progressive


Drivers with a history of accidents are offered particularly affordable rates by Progressive.

The ratings for claims satisfaction and the variety of coverage alternatives are average.

$2,036 is the typical yearly premium.

13% of the market

Premiums paid: $33.2 billion

3 out of 5 on ValuePenguin


Customer satisfaction score for Power: 862

Read our thorough Progressive evaluation.

In 1937, Progressive was founded and is now the third-largest insurance provider in the nation.

Auto insurance can be purchased from the company in-person, online, or over the phone.

Customers may also enrol through independent insurance agents.

More than 35,000 individuals work for the organisation, which has more than 400 offices.

A corporation called Progressive is traded publicly.

4. Allstate


Allstate often has higher rates but higher-than-average ratings for claim satisfaction.

However, the insurer provides a range of reductions that may help clients’ plans become more cheap.

$2,349 on average each year in premium

10% of the market

Written premiums: $25.9 billion

3 out of 5 on ValuePenguin


Score for power client satisfaction: 870

Read our thorough Allstate evaluation.

The second-largest publicly listed property and casualty insurance company in America, Allstate was founded in 1931.

Similar to State Farm, Allstate has a network of nearby agents available to meet your needs.

More than 46,000 employees are employed by the organisation at the moment.

The same industry is served by Esurance, an Allstate affiliate.

The Esurance brand, according to Allstate, focuses on clients who are independent and brand-sensitive, whereas Allstate caters to those who prefer local and personalised care.



One of the greatest auto insurance companies in the nation is USAA. Also check Corporate Concierge Services

With USAA, you’ll get very affordable rates, outstanding customer service, and quick claim processing.

The limited membership offered by USAA is the only drawback.

$1,170 on average each year in premium

Market share is 6%.

$15.8 billion in premiums written

4.5 out of 5 on ValuePenguin


Power score for customer satisfaction: 909.

Review of USAA in its entirety can be found here.

When 25 Army officers decided to insure one another’s cars in 1922, USAA was born.

The company now provides services to millions of people who are connected to the U.S. military, including cadets and midshipmen, family members of service members, and active-duty and veteran service personnel.

San Antonio is where USAA is headquartered.

The corporate campus is about three-quarters of a mile long.

In San Antonio, USAA is the biggest privately held business.

Our top selection for the finest and least expensive vehicle insurance for veterans and military service members is USAA due to its concentration on the U.S. armed forces.

6. Farmers


Farmers provides good deals, options for coverage, and excellent customer support.

Farmers’ high prices, though, can turn some customers off.

$2,521 is the average yearly premium.

5% of the market

$12.2 billion in premiums written

3.5 out of 5 on ValuePenguin


Power rating for client satisfaction: 893

Review Farmers in its whole here.

Farmers started out as an insurance provider for farm equipment.

It has since grown and is now the seventh-largest insurance provider in the nation.

Finding an insurance provider with more offerings than Farmers is challenging.

Among other insurance effects, it supplies auto insurance, pet insurance, & even investing services.

Insuring more than 19 million policies throughout all 50 states, Farmers employs close to 13,000 people.

7. Liberty Mutual

Liberty Mutual

Customers assess Liberty Mutual’s claims handling procedure as less satisfactory than the industry average, and the company’s premiums fluctuate by area more than those of the average insurer.

5% of the market

Insured amounts: $11.8 billion

3.5 out of 5 on ValuePenguin


Power rating for client satisfaction: 876

Read our thorough Liberty Mutual evaluation.

With a history spanning more than a century, Liberty Mutual is among the biggest insurance companies in the country.

It operates in 17 different countries and has a significant global reach.

The business offers health, life, and property and casualty insurance.

A local Liberty Mutual agent or broker, the company’s website, its call centre, or representatives from its network of regional subsidiaries are all options for purchasing Liberty Mutual auto insurance.

It’s important to keep in mind that Liberty Mutual offers coverage with a one-year rate guarantee.

8. Nationwide


Nationwide’s affordability is below average, and the company frequently receives unfavourable consumer feedback.

As you might anticipate from a big national insurer, Nationwide provides the conventional coverages and savings.

$2,127 is the typical yearly premium. Also check Catering Services

2% of the market

$5.8 billion in premiums written

4.4 out of 5 on ValuePenguin


Power rating for client satisfaction: 876

View our whole Nationwide review.

All 50 states can take advantage of Nationwide’s financial services, business lines, and personal lines.

Since 2000, the business has donated more than $430 million to charities.

“On Your Side” is a slogan used by Nationwide that has an effect on how auto insurance claims are handled, as well as how policies and premiums are calculated.

In order to guarantee that policyholders are aware of new discounts or modifications that will help to maintain premiums reasonable, the business also advises undergoing an annual checkup.

This evaluation is referred to as the “On Your Side” consultation by Nationwide.

Nationwide provides the best discounts for clients wishing to combine their home and auto insurance policy among the top car insurance companies on this list.

9. American Family

American Family

For auto insurance, American Family is a reliable option.

When policyholders use any of the company’s various discounts, the company’s reasonable prices could become excellent.

$1,755 on average each year in premium

2% of the market

Premiums written: $5.2 billion

3.5 out of 5 on ValuePenguin


Power rating for client satisfaction: 889

Read the rest of our review of American Family.

American Family was initially founded to provide insurance for farmers.

The business grew during the 1930s and started concentrating on providing insurance to non-farmers as well.

Currently, the company holds a significant market position in Wisconsin and is among the largest insurers in the United States.

Customers can find American Family’s already reasonable pricing even more low thanks to the company’s well-known substantial discounts.

American Family insurance isn’t offered everywhere, though.

10. Travelers


Travelers is a solid option for auto insurance coverage due to its moderate complaint ratings and range of discounts.

$2,148 as the typical yearly premium

2% of the market

Writt premiums: $4.9 billion

3.5 out of 5 on ValuePenguin


Customer satisfaction score for Power: 871

Read the complete Travelers review here.

One of the multiple senior insurance companies still in business, Travelers has been around for more than 160 years.

In actuality, Travelers provided its first auto insurance coverage in 1897—prior to the creation of the Ford Model T.

More than 30,000 people work for the business worldwide, including 13,500 independent agents and brokers in the US, Canada, and Brazil.

Notably, Travelers provides IntelliDrive, a rate pricing service that assesses your safe driving behaviour using a smartphone app to decide your prices.

If you demonstrate safe driving practises while participating in IntelliDrive, your annual insurance costs might be reduced by as much as 20%.

Largest auto insurance companies by state list

Our list’s biggest insurer, State Farm, is ranked first in 24 states.

Progressive typically holds the most market share among insurers in 15 states, coming in second to State Farm.

In nine states, Geico is the biggest provider of auto insurance, with Allstate and MAPFRE each covering one state.

List of the largest car insurance companies by state

In order to deliver a better customer experience, major and small insurance companies often trade off financial stability and competitive rates.

When dealing with a small insurance provider for your auto insurance, you’ll probably only speak to one insurance agent.

Due to a lack of financial clout, you might also need to be concerned about solvency if you select an insurance from a smaller company.

Consider your willingness to pay more for superior service if you are able to locate a small insurer with a foundational level of financial stability that you are comfortable with.

Big Vs. small insurance companies

We compared the top 10 auto insurance providers based on J.D. Power’s rating in order to help you in creating the right decision.

Ratings for financial strength and power by AM Best.

Accessibility, options for coverage, and pricing are further factors.

Even if a small insurance provider is more likely to give you a more individualised experience, it might not offer the same availability, advantages, and discounts that big insurance companies do.

And the largest or most well-known insurance companies frequently have agents on-call around-the-clock to chat with customers.

Mutual VS. stock insurance companies

The ownership structure of the organisation is the primary distinction between mutual and stock insurance companies.

Stock companies are privately held or publicly traded insurance companies that grant stockholders the ability to vote.

How to compare the right insurance for you

Some claim that investors’ short-term objectives don’t necessarily coincide with the company’s long-term interest because stockholders gain from the stock’s appreciation.

Many people believe that mutual insurance companies are superior as a result of how well the interests of policyholders and what’s best for the business coincide, particularly when it comes to cutting insurance prices and giving dividends to draw in new clients.

Except for USAA, which is a military insurance exchange, the majority of the top 10 largest auto insurance groups are stock insurance companies.

The best way to compare insurance options for you

Despite the abundance of sizable auto insurance providers, it’s always crucial to select the one that nicely suits your particular needs.

To find affordable premiums that fit your unique driving profile and experience, we constantly advise comparing quotations from various insurance providers.

It helps to have a broad notion of the coverages you’d like before getting a quote because the type of auto insurance policy you select, whether minimum or full coverage, will effect it.

The minimum auto insurance regulations in your state specify the amount of coverage that must be carried.

To cover you against physical damage to your car, full-coverage auto insurance includes comprehensive and collision coverage.

All drivers should normally think about full-coverage auto insurance, especially if their vehicle is more expensive than $3,000.

Expert Insights to help you make smarter Financial Decisions

To help you understand complex topics and equip you to make wiser financial decisions, ValuePenguin has assembled an exclusive panel of experts from a variety of fields.

Both Progressive’s Flo and State Farm’s Jake are now well-known.

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What is the general effect of an acquisition and/or consolidation on customer satisfaction?

Is it still vital for companies, such as insurance providers, to keep local agents and individualised experiences in this era of digital transformation?