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With the sheer number of auto insurance companies in the United States, it can be difficult to know where to start looking for car insurance. Some insurance carriers have more affordable premiums than others, while others might have stellar customer service, a simple claims filing process and intuitive mobile apps. But researching every company takes time — which is why Bankrate’s insurance editorial team did it for you.
To find the best car insurance companies, we collected data on average premiums, coverage options, discount offerings and third-party customer service scores and financial strength ratings. Our comprehensive guide can help you determine which auto insurance companies are worth reaching out to for a quote so you can find the best car insurance policy.
List of auto insurance providers
When shopping for the best auto insurance, your first step may be to identify what factors matter most to you in a company, like digital tools, J.D. Power ratings, financial strength ratings or specialty coverage options. From there, you can create a list of car insurance companies that meet your needs. Getting quotes from several providers could help you find the carrier that offers the right coverage for you at the right price. The following includes national and regional auto insurance companies that Bankrate analyzed as potentially good options for drivers across the U.S.:
What are the 10 largest auto insurers?
Although there are thousands of auto insurance companies operating in the U.S., a handful of the largest car insurance companies dominate the market.
Bankrate’s insurance editorial team analyzed each company’s average minimum and full coverage premiums from Quadrant Information Services, coverage choices, discounts, financial strength ratings and customer service scores. With this information, we assigned a Bankrate Score to each company. The scores are out of a 5.0 scale. The higher the Bankrate Score, the higher a company ranked in each of the individual scoring categories.
The following list of insurers demonstrates how the top 10 U.S. auto carriers write nearly 77% of the nation’s auto insurance coverage (ranked by market share), according to the Insurance Information Institute (Triple-I):
- State Farm: 16.0%
- Geico: 14.4%
- Progressive: 13.8%
- Allstate: 10.4%
- USAA: 6.0%
- Liberty Mutual: 5.1%
- Farmers: 4.8%
- Nationwide: 2.1%
- American Family: 2.1%
- Travelers: 2.0%
So how do the largest car insurance companies compare to each other? Each has its own advantages, and the best insurer for one person may not be the best for another. We’ve broken down some of the key information for each company.
- Headquarters: Bloomington, Ill.
- Market share:0%
- Average annual full coverage premium: $1,397
- Average annual minimum coverage premium: $456
- Bankrate Score:7
State Farm is the nation’s largest insurer of personal autos. The company offers numerous lines of insurance, banking products and loans, which are available through an exclusive network of local State Farm agents across the U.S. If you are in the market for insurance and banking services, State Farm is worth consideration.
State Farm’s overall customer satisfaction ratings from J.D. Power range from about average to above average, depending on the region. However, the company did earn an above-industry-average score for claims service. This indicates that customers are often satisfied with how State Farm handles claims in the event of a loss. State Farm boasts a strong balance sheet and carries an A++ (Superior) financial strength rating from AM Best, the highest level possible.
State Farm has 19,000 exclusive local agents and 58,000 employees, making it easy to find help with your policy in your area. Additionally, State Farm has a usage-based insurance telematics program called Drive Safe and Save that rewards drivers with discounts on their car insurance based on good driving habits. Policyholders earn a discount just for signing up and could earn up to 30% for participating.
Learn more: State Farm Insurance review
- Headquarters: Chevy Chase, Md.
- Market share:4.%
- Average annual full coverage premium: $1,297
- Average annual minimum coverage premium: $365
- Bankrate Score:7
Geico is the nation’s second largest auto insurance writer and insures more than 28 million vehicles. Its slogan, “15 minutes could save you 15% or more on car insurance,” is especially memorable when paired with its commercials featuring the Geico Gecko.
Geico’s claims satisfaction rating from J.D. Power revealed that it scored just above the industry average. This demonstrates that customers are generally satisfied with Geico’s customer service. As a wholly owned subsidiary of Berkshire Hathaway Inc., Geico carries an A++ (Superior) financial strength rating from AM Best.
Geico’s user-friendly app for Android and Apple iOS operating systems makes it easy to view your policy, get quotes and file claims on your smartphone from wherever you are. The company also has a wide variety of discount opportunities, including occupational and professional organization-based discounts, and savings for federal employee status.
Learn more: Geico Insurance review
- Headquarters: Mayfield Village, Ohio
- Market share: 8%
- Average annual full coverage premium: $1,561
- Average annual minimum coverage premium: $542
- Bankrate Score:4
Progressive is the third-largest car insurance company in the U.S. With so many resources at its fingertips, the company offers a wide range of coverage options for your vehicle, home, boats and RVs. If you’re looking to save money, the innovative Progressive Snapshot usage-based telematics program uses sensors to track your driving in real time and offers lower rates for safe driving.
However, keep in mind that Progressive’s J.D. Power customer satisfaction scores are mostly average and it received a below-average ranking for claims service. Progressive is fiscally sound and maintains an A+ (Superior) financial strength rating from AM Best.
Progressive ranks third overall in the 2022 J.D. Power U.S. Insurance Digital Experience Study, indicating customers were very happy with the experience on its desktop, mobile web and mobile app, so it could be a good fit for consumers who want to purchase and manage their car insurance policy digitally.
Learn more: Progressive Insurance review
- Headquarters: Northbrook, Ill.
- Market share:4%
- Average annual full coverage premium: $2,438
- Average annual minimum coverage premium: $558
- Bankrate Score:0
Allstate is one of the largest insurance companies in the nation. By offering auto, home, renters and life insurance coverage, Allstate makes it easy to bundle multiple insurance types and earn a premium discount.
Allstate’s customer satisfaction scores from J.D. Power vary according to where you are located — it ranks above average in some regions but below average in others. If you are considering a quote from Allstate, you may want to review your region’s specific reviews first. Allstate carries an A+ (Superior) financial strength rating from AM Best.
Allstate’s usage-based Drivewise telematics program can generate an additional discount if you maintain good driving habits. Drivewise participants can also earn rewards points, which they can redeem for car rentals, magazine subscriptions, gift cards and merchandise.
Learn more: Allstate Insurance review
- Headquarters: San Antonio, Texas
- Market share:0%
- Average annual full coverage premium: $1,209
- Average annual minimum coverage premium: $354
- Bankrate Score:0
Exclusively an insurer for the military community, USAA offers very competitive average rates for auto coverage to active-duty service members, veterans and qualifying family members. USAA is the eighth largest auto insurer in the U.S. by market share.
USAA consistently receives high customer service scores with J.D. Power, although the company is not eligible for official ranking due to its eligibility restrictions. Like several other industry leaders Bankrate analyzed, USAA maintains the highest level financial strength rating from AM Best: A++ (Superior).
USAA’s car insurance offers unique features to make being insured as a military service member more convenient. This includes vehicle storage discounts while on deployment and automatic payment schedules. If your car is still being driven, you could add USAA roadside assist to ensure you and your family members are taken care of while on the road.
Learn more: USAA Insurance review
- Headquarters: Boston, Mass.
- Market share:1%
- Bankrate Score:9
You can purchase insurance coverage for just about anything through Liberty Mutual, from your home to your boat to your pets. The company’s auto insurance policies are easy to purchase, manage and bundle with other Liberty Mutual policies. Bundling is not the only way to save. Liberty Mutual lists 17 different auto discounts on its website to help customers get the best price on their car insurance.
Like Allstate, Liberty Mutual’s J.D. Power customer satisfaction scores vary by region. You may want to research customer satisfaction results in your area if you get a quote from this company. Liberty Mutual carries an A (Excellent) financial strength rating from AM Best.
Liberty Mutual’s Better Car Replacement program is designed to replace your totaled vehicle with a model one year newer with up to 15,000 fewer miles than your insured vehicle. Leased cars do not qualify for this coverage, but drivers who own their vehicle and would rather upgrade it following a covered total loss event may find this coverage to be a good option.
Learn more: Liberty Mutual Insurance review
- Headquarters: Los Angeles, Calif.
- Market share:8%
- Average annual full coverage premium: $1,524
- Average annual minimum coverage premium: $550
- Bankrate Score: 8
As the seventh-largest auto insurer in the U.S., Farmers Insurance offers robust coverage, with a long list of unique features. For example, you can purchase ridesharing coverage if you drive for a transportation provider like Uber or Lyft. You may also be able to purchase original equipment manufacturer coverage, which will source original manufacturer parts for your vehicle if it is damaged. Farmers received an above-average rating for claims satisfaction from J.D. Power. The company carries an A- (Excellent) financial strength rating from AM Best.
If you have recently purchased a new car, you may want to consider Farmers’ New Car Replacement Coverage. This optional coverage is designed to replace your totaled car with a brand new model, as long as your vehicle is less than two years old and has fewer than 24,000 miles.
Learn more: Farmers Insurance review
- Headquarters: Columbus, Ohio
- Market share:1%
- Average annual full coverage premium: $1,383
- Average annual minimum coverage premium: $549
- Bankrate Score:4
Nationwide offers full lines of personal and commercial insurance products. Nationwide provides all the essentials in its auto policies, as well as optional coverage add-ons like towing, rental car coverage and gap coverage, which is designed to pay for the difference between your car’s value and what you owe on the lease or loan if your vehicle is totaled.
Like several other major auto insurers, Nationwide’s overall J.D. Power customer satisfaction scores also fluctuate by region, but the company scored below average in J.D. Power’s overall claims satisfaction study. Nationwide is fiscally strong and maintains a A+ (Superior) financial strength rating from AM Best.
Through Nationwide’s Vanishing Deductible program, you can potentially earn $100 off your collision and/or comprehensive deductible for each year you practice safe driving, up to a maximum of $500. Depending on what coverage types are included in your policy, this could effectively eliminate your entire deductible.
Learn more: Nationwide Insurance review
- Headquarters: Madison, Wis.
- Market share percentage:1%
- Average annual full coverage premium: $1,090
- Average annual minimum coverage premium: $465
- Bankrate Score:3
American Family, commonly known as AmFam, sells auto, home, life, health, travel and identity theft insurance, along with other insurance products. The company, which has an exclusive network of local agents in the 19 states where AmFam offers coverage, puts an emphasis on convenience, providing smartphone apps with features like easy bill paying and a Teen Safe Driver program. AmFam carries an A (Excellent) financial strength rating from AM Best.
AmFam’s Dreams Restored Program takes the stress out of finding a repair shop by connecting you with partner shops in your area. Bills are sent directly to the insurance company, so you never have to see them. The work also gets a lifetime workmanship guarantee from American Family.
Learn more: American Family Insurance review
- Headquarters: New York City, N.Y.
- Market share percentage:0%
- Average annual full coverage premium: $1,568
- Average annual minimum coverage premium: $508
- Bankrate Score:7
Travelers offers standard auto insurance coverage types, as well as options to tailor your policy, like rental car coverage, new car replacement and accident forgiveness. The company’s numerous discounts might allow you to save on your policy for bundling, safe driving or shopping early for a new policy. For example, Travelers’ multi-policy discount can save you up to 13% on your car insurance premiums.
Travelers received below-average claims service ratings from J.D. Power, as well as below-average customer service satisfaction scores in the specific regions in which it is available. Like our other top auto insurers, Travelers has a strong balance sheet and maintains the highest financial strength rating from AM Best, A++ (Superior).
Drivers in some states can take advantage of IntelliDrive, the company’s usage-based smartphone app that tracks driving habits for 90 days and reduces the cost of your premium for safe driving, although you could also experience a premium increase if your driving habits are not safe, based on Travelers’ telematics analysis.
Learn more: Travelers Insurance review
How to choose the right auto insurance company
When shopping for car insurance, you may want to follow a few guidelines to help you find the best coverage for the best price.
- Shop around. The Triple-I recommends you get quotes from a minimum of three insurers, which will allow you to compare coverage options, discounts, and price.
- Inquire about discounts. Most insurance carriers offer discounts that you can qualify for to obtain additional savings. Ask potential insurers which ones might help you save on your premium.
- Consider your coverage needs. Depending on your budget or financial goals, vehicle value, whether you have a financed vehicle and other personal rating factors, your coverage choices may vary in type and limit.
- Bundle your policies. Most carriers that write several lines of insurance offer discounts to policyholders that purchase more than one policy type with them.
- Review financial strength ratings. You can check an insurer’s financial strength rating with companies like AM Best, Moody’s and Standard & Poor’s. These companies analyze historical data to review an insurance company’s ongoing financial strength. A low rating (below A-) could indicate that a company may not be able to pay out claims if it is inundated with a large amount of losses after a major event, like a hurricane.
- Research customer service reviews. Third parties like J.D. Power publish studies that rank insurance companies based on customer service satisfaction, claims service satisfaction and overall customer experience.
Finding the right car insurance provider can take some time, but it can be worth the effort to find the car insurance company that best meets your needs.
Frequently asked questions
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.
To determine how well the best car insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moodys had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider.
While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.