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Why You Can Trust the MarketWatch Guides Team
Here’s a breakdown of how we reviewed and rated the top auto insurance providers
130
Providers ReviewedOur team looked at over 100 of the top auto insurance providers in the U.S., from national providers like USAA, Travelers and State Farm to regional providers like Erie Insurance.
8,500
Data Points AnalyzedTo properly score each auto insurance provider, we looked at cost data, claims processes, customer review scores, industry standing, available discounts, coverages and add-ons.
800
Research HoursOur team put in the time so you don’t have to, evaluating cost data, reading customer reviews and researching companies to determine the most reliable options for coverage.
8,500
Customers SurveyedWe asked thousands of customers to describe their experience with their auto insurance provider to understand how real customers feel about their insurers.
Learn more about our methodology and editorial guidelines.
Top 10 Largest Auto Insurance Companies
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.
Largest Car Insurance Companies: A Closer Look
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.
#1 State Farm: Editor’s Choice
Overview
Better Business Bureau (BBB) rating: C-
AM Best financial strength rating: A++
J.D. Power 2023 claims satisfaction score: 891 out of 1,000
Headquarters: Bloomington, Illinois
State Farm is the nation’s largest car insurance company, accounting for 16.8% of all auto policies sold. The company maintains a stellar customer service reputation that’s backed by both industrywide studies and many positive reviews. While State Farm serves drivers in all 50 states, it no longer sells new policies in Massachusetts or Rhode Island.
Keep reading: State Farm insurance review
Coverage
You’ll find standard types of car insurance coverage such as liability and comprehensive insurance from State Farm. In addition, the company has add-ons such as roadside assistance, rental car reimbursement and rideshare insurance. If you’d like to take advantage of a usage-based savings program, State Farm offers ™ to policyholders. This program calculates rates through a mobile app by tracking quick acceleration, hard braking, times of day, speeding and phone use.
Cost
According to data from Quadrant Information Services, the average car insurance cost across the U.S. is $1,730 per year or $144 per month for full coverage and $635 per year or $53 per month for minimum coverage. These estimates and all those that follow are based on the profile of a 35-year-old driver with a clean driving record and good credit history, unless stated otherwise. Below are average prices for a State Farm insurance policy:
| Coverage Type | State Farm Average Costs |
| Minimum coverage | $543 per year or $45 per month |
| Full coverage | $1,481 per year or $123 per month |
State Farm’s average cost for full coverage is around 14% cheaper than the national average. If you’re looking for further savings, you’ll find car insurance discounts such as multi-car, multi-policy, accident-free, good student, driver training and vehicle safety features through State Farm.
#2 Geico: Affordable for Most Drivers
Overview
BBB rating: A+
AM Best financial strength rating: A++
J.D. Power 2023 claims satisfaction score: 871 out of 1,000
Headquarters: Chevy Chase, Maryland
The NAIC found that Geico is the second-largest car insurance company in the U.S., accounting for 14.05% of all auto insurance premiums sold. With a strong AM Best financial strength rating and a slightly above-average claims satisfaction rating, Geico has proven itself as a reliable and affordable option for auto insurance.
Keep reading: Geico insurance review
Coverage
Geico offers the standard types of car insurance along with add-ons like roadside assistance, rental car reimbursement and mechanical breakdown insurance. DriveEasy, a usage-based insurance platform from Geico, is offered in most states and promotes safe driving habits by tracking them and providing discounts accordingly.
Cost
Below are the national average rates for both minimum- and full-coverage auto insurance policies from Geico:
| Coverage Type | Geico Average Costs |
| Minimum coverage | $468 per year or $39 per month |
| Full coverage | $1,308 per year or $109 per month |
Geico’s average cost for full-coverage auto insurance is about 24% cheaper than the national average. In addition to cheap auto insurance rates, Geico offers car insurance discounts such as for air bags, good students, good drivers, new cars and federal employees. The company is also owned by Berkshire Hathaway, giving it a strong ability to pay out auto insurance claims.
#3 Progressive: Low Rates for High-Risk Drivers
Overview
BBB rating: A
AM Best financial strength rating: A+
J.D. Power 2023 claims satisfaction score: 870 out of 1,000
Headquarters: Mayfield Village, Ohio
Progressive is the third-largest car insurance company in the nation, accounting for 13.76% of all insurance plans purchased. It has a strong BBB rating and AM Best financial strength score, revealing its ability to meet ongoing insurance obligations. However, Progressive earned a below-average score in the J.D. Power 2022 U.S. Auto Claims Satisfaction Study℠, with the lowest score of the five largest car insurance companies.
Keep reading: Progressive insurance review
Coverage
Progressive offers policyholders a wide variety of options, from standard types of coverage such as collision insurance to add-ons like loan/lease payoff and a deductible savings bank. Like other reputable insurers, Progressive has a program called Snapshot® that tracks and rewards safe driving habits with additional savings on auto insurance.
Cost
The average rates across the country for minimum- and full-coverage insurance with Progressive are as follows:
| Coverage Type | Progressive Average Costs |
| Minimum coverage | $687 per year or $57 per month |
| Full coverage | $1,611 per year or $134 per month |
Progressive’s typical cost for full-coverage auto insurance is almost 7% cheaper than the national average of $1,730 per year or $144 per month. Discounts offered by Progressive include continuous insurance, multi-car, homeowner, good student and paperless.
#4 Allstate
Overview
BBB rating: A+
AM Best financial strength rating: A+
J.D. Power 2023 claims satisfaction score: 882 out of 1,000
Headquarters: Northbrook, Illinois
Allstate comes in fourth among the largest car insurance companies with a market share of 10.69%. It has a wide variety of insurance coverage options and a strong J.D. Power claims satisfaction rating. Additionally, a claims satisfaction guarantee is included with every Allstate policy and covers up to six months of premium costs if drivers are unsatisfied with its insurance claims process.
Keep reading: Allstate insurance review
Coverage
You’ll find the six standard types of car insurance with Allstate along with add-on coverages such as new car replacement, accident forgiveness and guaranteed asset protection, which is also known as gap insurance.
Allstate has two distinct usage-based insurance programs: Drivewise® and Milewise®. Drivewise tracks driving habits through a mobile app and rewards you with discounts based on responsible behaviors. Milewise is a pay-per-mile insurance program that charges a daily base rate with additional costs per extra mile driven.
Cost
Allstate’s national average prices for full- and minimum-coverage car insurance can be found in the table below.
| Coverage Type | Allstate Average Costs |
| Minimum coverage | $725 per year or $60 per month |
| Full coverage | $2,088 per year or $174 per month |
The average rates for full-coverage car insurance from Allstate are around 21% higher than the national average. However, Allstate offers discounts such as multi-policy, good student, early signing, new car and autopay that could lower your car insurance rates.
#5 USAA: Low Rates for Military
Overview
BBB rating: Not rated
AM Best financial strength rating: A++
J.D. Power 2023 claims satisfaction score: 900 out of 1,000
Headquarters: San Antonio, Texas
USAA is the fifth-largest car insurance company, with a 5.92% share of the auto insurance market. It’s known for its cheap car insurance rates, strong financial strength rating and excellent performance in J.D. Power customer surveys. However, USAA auto insurance is only available to military members, veterans and their families.
Keep reading: USAA insurance review
Coverage
USAA provides standard car insurance coverage offerings in addition to more unique add-ons. You can find accident forgiveness, car replacement assistance, rideshare coverage and even classic car insurance with USAA. In addition, it offers a telematics insurance app called SafePilot™ that can provide policyholders with discounts of up to 30% based on their driving habits.
Cost
Average costs for car insurance policies purchased from USAA are as follows:
| Coverage Type | USAA Average Costs |
| Minimum coverage | $333 per year or $28 per month |
| Full coverage | $1,054 per year or $88 per month |
The average prices from USAA are the best rates among the top five largest car insurance companies. The provider’s average costs are an impressive 39% cheaper than the national average for full-coverage auto insurance.
#6 Liberty Mutual: Good Programs for Young Drivers
Overview
BBB rating: A-
AM Best financial strength rating: A
J.D. Power 2023 claims satisfaction score: 866 out of 1,000
Headquarters: Boston, Massachusetts
Liberty Mutual is the sixth-largest car insurance provider in the U.S. It offers car insurance discounts such as good student, student away at school and multi-car that can benefit families with young drivers. Furthermore, Liberty Mutual’s RightTrack® telematics program rewards drivers with additional discounts of up to 30% for good driving behaviors.
Keep reading: Liberty Mutual insurance review
Cost
You’ll need to reach out to Liberty Mutual for a quote based on your driving profile and insurance needs. Our team was unable to get a national average for minimum- and full-coverage policies with this provider.
#7 Farmers Insurance
Overview
BBB rating: B+
AM Best financial strength rating: A
J.D. Power 2023 claims satisfaction score: 878 out of 1,000
Headquarters: Woodland Hills, California
Keep reading: Farmers Insurance review
Coverage
As the nation’s seventh-largest auto insurer, Farmers Insurance offers unique optional plans such as customized equipment coverage, loss of use coverage, rideshare insurance and personal umbrella insurance. In addition, Farmers has an app called Signal® that can either lower or increase your insurance premiums based on driving habits.
Cost
The national average of a minimum-coverage auto insurance plan through Farmers is $881 per year while a full-coverage policy comes out to $2,140 annually. Both averages from Farmers Insurance are significantly higher than the typical rates for comparable car insurance policies.
#8 Travelers: Most Coverage Options
Overview
BBB rating: A
AM Best financial strength rating: A++
J.D. Power 2023 claims satisfaction score: 871 out of 1,000
Headquarters: New York City
Keep reading: Travelers insurance review
Coverage
As the 8thth-largest car insurance provider, Travelers has earned our team’s distinction as the company with the Most Coverage Options. It offers add-on coverages like loan/lease gap insurance, accident forgiveness and named non-owner coverage. Like many other reputable insurers, Travelers also offers drivers a telematics savings program — theirs is called IntelliDrive®.
Cost
The average cost of minimum-coverage insurance from Travelers is $730 per year and the typical full-coverage policy with Travelers is $1,669 per year. While minimum coverage from Travelers is higher than the national average, a full-coverage policy is slightly cheaper.
#9 American Family Insurance
Overview
BBB rating: A
AM Best financial strength rating: A
J.D. Power 2023 claims satisfaction score: 882 out of 1,000
Headquarters: Madison, Wisconsin
Keep reading: American Family insurance review
Coverage
American Family Insurance is the ninth-largest auto insurance provider in the U.S. and has a wide array of discounts such as young volunteer, generational, low mileage, early bird and multi-vehicle. It also offers some nontraditional insurance plans like rental car reimbursement, gap insurance and accidental death and dismemberment coverage.
Cost
The average premium for minimum-coverage insurance from American Family Insurance is $685 per year while the average for full coverage is $1,537 per year. The typical rate for a full-coverage insurance policy from American Family is considerably lower than the national average.
#10 Nationwide
Overview
BBB rating: A+
AM Best financial strength rating: A
J.D. Power 2023 claims satisfaction score: 875 out of 1,000
Headquarters: Columbus, Ohio
Keep reading: Nationwide insurance review
Coverage
Coming in as the tenth-largest car insurance company, Nationwide provides all standard auto coverage options to policyholders. It also offers discounts for having multiple policies, staying accident-free and being either a good student or a safe driver. Furthermore, it has usage-based and pay-per-mile insurance programs known as SmartRide® and SmartMiles®, respectively.
Cost
The average cost of a minimum-coverage car insurance policy with Nationwide is $613 per year while full coverage comes in at $1,281 per year. These averages are cheaper than the national rates for both minimum- and full-coverage auto insurance plans.
Average Rates for the Largest Car Insurance Companies
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 |
Largest Car Insurance Companies: The Bottom Line
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.
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Largest Car Insurance Companies: FAQ
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.
Our Methodology
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:
- Cost: Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
- Coverage: Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
- Reputation and experience: Our research team considered market share, ratings from industry experts and years in business when giving this score.
- Availability: Auto insurance companies with greater state availability and few eligibility requirements scored highest in this category.
- Customer experience: This score is based on volume of complaints reported by the National Association of Insurance Commissioners (NAIC) and customer satisfaction ratings reported by J.D. Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.
Our credentials:
- 800 hours researched
- 45 companies reviewed
- 8,500+ consumers surveyed
*Data accurate at time of publication.
If you have feedback or questions about this article, please email the MarketWatch Guides team ateditors@marketwatchguides.com.
