The 10 largest car insurance companies make up over three-quarters of the entire auto insurance market and are led by State Farm, Geico and Progressive.
Discover if you are overpaying for car insurance below.
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The 10 largest car insurance companies make up over three-quarters of the entire auto insurance market and are led by State Farm, Geico and Progressive.
Discover if you are overpaying for car insurance below.
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The 10 largest car insurance companies in the United States combine to make up 77% of the market, so there’s a good chance that you’re at least familiar with them. These auto insurance providers are led by major industry names such as State Farm, Geico, Progressive, Allstate and USAA.
We at the MarketWatch Guides Team have reviewed studies and data from the National Association of Insurance Commissioners (NAIC) to determine which companies have the largest market share in the car insurance industry. Our team will explain their coverage plans, costs and customer satisfaction scores to help you decide which one is the best auto insurance company for you.
Key Takeaways:
Learn more about our methodology and editorial guidelines.
According to 2022 data from the National Association of Insurance Commissioners (NAIC), the 10 largest car insurance companies account for 77% of the total U.S. market. Below are the market share percentages of the country’s biggest auto insurance providers along with scores compiled after thorough research by our editorial team:
Car Insurance Provider | National Market Share | Overall Rating Out of 10.0* |
---|---|---|
1. State Farm | 16.84% | 9.4 |
2. Geico | 14.05% | 9.1 |
3. Progressive | 13.76% | 9 |
4. Allstate | 10.69% | 8.8 |
5. USAA | 5.92% | 9.2 |
6. Liberty Mutual | 4.95% | 9 |
7. Farmers Insurance | 4.55% | 8.6 |
8. Travelers | 2.11% | 9.5 |
9. American Family Insurance | 2.11% | 9.1 |
10. Nationwide | 1.99% | 9.1 |
*Ratings were determined by our Guides Auto Team. Learn more about our scoring methodology at the end of this article.
Note that many of these companies offer other coverage types such as homeowners insurance, renters coverage and life insurance. You may be able to save on car coverage if you bundle it with other insurance products such as home insurance.
The top 10 largest car insurance companies write over three-quarters of the direct premiums in the U.S. auto insurance market. Find more details below on the country’s 10 biggest insurance companies by market share and their average costs for full and minimum coverage.
The cheapest car insurance among large providers comes from USAA, Nationwide, Geico and State Farm. On the other hand, those who select Farmers and Allstate are likely to pay more for similar amounts of coverage. Since rates vary due to driving record, credit score and car type, it’s worth getting car insurance quotes before picking a provider.
Car Insurance Provider | Annual Full Coverage Cost | Annual Minimum Coverage Cost |
State Farm | $1,657 | $523 |
Geico | $1,596 | $461 |
Progressive | $2,030 | $697 |
Allstate | $2,598 | $854 |
USAA | $1,512 | $387 |
Liberty Mutual | N/A | N/A |
Farmers Insurance | $3,169 | $1,153 |
Travelers | $1,595 | $648 |
American Family Insurance | $1,851 | $810 |
Nationwide | $1,433 | $531 |
Many large auto insurance companies across the country represent reputable and financially stable options for policyholders, offering coverage add-ons and quality telematics insurance programs. Since they vary widely in price, customer satisfaction and available discounts, we recommend comparing car insurance quotes to find the best policy for your needs.
According to data from the NAIC, the largest auto insurer in the U.S. is State Farm, accounting for 16.84% of the car insurance market. Geico, Progressive, Allstate and USAA round out the nation’s top five largest car insurance companies.
Geico is a larger car insurance company than Allstate in terms of market share. While Allstate makes up 10.4% of the U.S. auto insurance market, Geico claims an even larger 14.3% share.
The 10 largest car insurance companies, from highest to lowest market share, are State Farm, Geico, Progressive, Allstate, USAA, Liberty Mutual, Farmers Insurance, Nationwide, American Family Insurance and Travelers.
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.
Here are the factors our ratings take into account:
Our credentials:
*Data accurate at time of publication.
If you have feedback or questions about this article, please email the MarketWatch Guides team at editors@marketwatchguides.