List of top 10 auto insurance companies in the USA: The best Auto insurance companies on the market not only offer great coverage and affordable payments.
They have a simple claims process, easy-to-use technology, and an excellent customer service experience.
So here at Media Review Team, we’ve done the work for you by narrowing down the top 10 car insurance companies in the industry.
In this article, we’ll review each company’s reputation, availability, coverage options, discounts, and customer experience, detailing five of the best car insurance providers.
What is an auto insurance company?
The nation’s auto insurance company is State Farm, itself a US auto insurance company. Car insurance accounts for 16% of the US market, more than $7 billion from GEICO, the second largest insurer
Overall, the top 10 auto insurance providers took in $184 billion in written premiums in 2020, the most recent year with available data.
The entire industry issued $250 billion in premiums in the same year. The most popular car insurance companies took 74 percent of this amount themselves.
Which is the best auto insurance company?
According to 2022 data, the top car insurance company is the USA, but its insurance products are only available to members of the military community.
If that doesn’t apply to you, the next best option is State Farm, which ranked No. 2 in our analysis.
To determine the best car insurance companies, we analyzed feedback data from policyholders with a specific focus on customer service, claims handling, customer loyalty, and policy renewals.
We asked survey participants how likely they were to recommend their current insurer to a driver shopping for a new policy.
American Family dropped four spots this year in our analysis. It has the lowest scores in most subrating categories, although American Family scored slightly higher than Progressive in our Best Customer Loyalty category.
Despite low scores, American Family offers competitive rates for some drivers, especially teenage drivers, drivers with bad credit, and drivers with accidents or DUIs on their records.
AAA is the newest addition to our best car insurance company ratings, tying Progressive for the No. spot. Its scores were below average in every category we analyzed.
However, it’s in our subrating of most likely to renew, beating out Allstate, Farmers, Progressive and American Families.
AAA also has the highest average premiums in our research, but drivers considering AAA should get a quote to determine if their individual rates are more competitive.
Progressive ranks in our analysis. Overall, customers are generally satisfied with the ease of opening a policy, but Progressive locations remain in our Best Customer Loyalty category and score below average in every other subrating in our survey.
Progressive customers also report that they are less likely to renew their policies or recommend the insurer to other drivers.
However, individuals with a DUI may be able to unlock savings with Progressive. The rate for those drivers is the lowest in our study.
Travelers also made some upward movement this year, moving up two spots and tying for the no. Travelers’ customer service score is lower than the seven other insurance companies in our analysis, but it takes the spot in our claims handling sub-breeding category and the spot in the Most Potentially Reformed category.
also receive above-average scores for policy renewals and are paid premiums that are generally lower than the national average.
Allstate moved up three spots this year. It has a slightly lower average score for most of our sub ratings, but that didn’t stop us from taking the spot.
Compared to other insurers in our analysis, Allstate has some of the highest rates, but some drivers, such as speeding violators, may find Allstate’s rates a bit competitive.
Last year and tied briefly in the same spot in our 2022 analysis. Its position in this year’s ratings is likely to exceed its average customer service score.
Geico has average scores in other key categories, including customer loyalty and possibly renewals. Claims handling scores are slightly below average, but Geico’s rate, which is the second lowest in our study, could be a great option for drivers looking for affordable coverage.
Nationwide moved up two spots since our 2021 analysis. Proposed sub-breeding and other sub-breeding categories each have the second-highest average scores nationwide.
Average rates are also lower for some drivers nationwide, especially those with good driving records or bad credit.
Farmers is No. 1 in our ratings for claims handling and in customer service tie. It is also tied to customer loyalty. Where farmers didn’t do well was probably renewables, which it scored 4.0 below the category average of 4.2.
State Farm ranks above average in each of our sub-ratings, including claims handling and customer loyalty.
USAA is the best insurance company in rating. According to our 2022 survey, customers report the highest levels of customer satisfaction and are more likely to renew their policies and recommend AA to other drivers. USA also has the lowest rate in our study, trailing the national average by 35%.
SAA insurance products, which include auto, homeowner, and renters policies, are available only to members of the military community. Thus, not all drivers will be eligible for coverage through this insurer.
To find the nation’s largest auto insurance companies, Polysignius analyzed data from the National Association of Insurance Commissioners (NAIC). The NAIC’s property and casualty market share report, released in 2021, lists total written premiums and market share — at the national and state levels — for the nation’s top 125 insurance groups.
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