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Last updated on Feb 02, 2021

The Largest Car Insurance Companies of 2021

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The largest car insurance companies are some of the most recognizable names in the auto insurance industry. Major auto insurance companies are household names — we see them advertise in Super Bowls and between episodes during Hulu binge-watching. 

Larger insurers tend to have financial strength you can rely on and the budget to provide better online tools, customer service, and claims support. If you’re interested in covering your car through the biggest car insurance companies, trying to choose the best one for your needs can be challenging, but no need to worry. We’ve compiled a list of car insurance companies, based on their ratings and market share, allowing you to compare and contrast your options.

The Largest Auto Insurance Companies in the U.S.

RankCompanyDirect Premiums Written*Market Share*2020 J.D. Power Customer Satisfaction** AM Best RatingReviews.comScore
1State Farm$40.9 billion16.14%881/1,000A++4.6
2Geico$34.9 billion13.78%871/1,000A++4.6
3Progressive$31.1 billion12.25%856/1,000A+4.4
4Allstate$23.6 billion9.33%876/1,000A+4.2
5USAA$15.2 billion6.01%890/1,000A++4.4
6Liberty Mutual$11.7 billion4.62%867/1,000A4.2
7Farmers$10.5 billion4.20%872/1,000A-3.8
8Nationwide$6.2 billion2.50%876/1,000A+3.8
9American Family$5.8 billion2.30%862/1,000A4.6
10Travelers$4.9 billion1.90%861/1,000A4.2

*Information based on filings from March 2020 and reported by NAIC

**Based on J.D. Power’s 2020 Auto Claims Satisfaction Study

To help you choose a provider that’s right for you, here’s what you need to know about the largest auto insurance companies.

State Farm

Best for:

Being the #1 provider of auto insurance in the United States, based on market share. State Farm enjoys a good reputation among customers and is also noteworthy for not raising insurance rates after car accidents.
  • 4.6 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • $681* Average Premium Pricing data comes from our partners at Coverage.com.
  • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • 881/1,000 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

Being the #1 provider of auto insurance in the United States, based on market share. State Farm enjoys a good reputation among customers and is also noteworthy for not raising insurance rates after car accidents.

Pros

  • Variety of insurance options
  • Good customer service ratings
  • Online tools to begin and manage coverage

Cons

  • Rideshare insurance not available in all states
  • New policies not available in Massachusetts and Rhode Island
Read More

Types of Coverage Offered

  • Rideshare coverage
  • Commercial auto
  • Classic and antique cars
  • Sports cars

Discounts Available

  • Good driving discount for no accidents in a three-year period
  • Savings for having an anti-theft device or alarm on vehicle
  • Safe driving discount for enrolling in Drive Safe and Save via smartphone or OnStar

Further Reading on State Farm:

Geico

Best for:

Geico is more commonly known for the gecko mascot and funny commercials, but it’s also pretty affordable and offers quite a few discounts. Geico offers online and mobile tools that allow users to manage their policies themselves more effectively.
  • 4.6 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • $416* Average Premium Pricing data comes from our partners at Coverage.com.
  • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • 871/1,000 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

Geico is more commonly known for the gecko mascot and funny commercials, but it’s also pretty affordable and offers quite a few discounts. Geico offers online and mobile tools that allow users to manage their policies themselves more effectively.

Pros

  • Affordable quotes
  • Helpful online and mobile tools
  • Variety of discounts

Cons

  • Average claims satisfaction ratings
  • Average customer service ratings
Read More

Types of Coverage Offered

  • Rideshare
  • Collector
  • Tourist driving in Mexico

Discounts Available

  • Military and federal
  • Over age 50
  • Student discount (age 16-24, full-time)
  • Multi-vehicle
  • Multi-policy
  • Membership in certain professional or alumni associations

Further Reading on Geico:

Progressive

Best for:

Progressive offers a variety of discounts; chances are, a potential customer will qualify for at least one discount, making easy savings possible. The Name Your Price Tool allows you to review your insurance options based on what you are willing to pay.
  • 4.4 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • $769* Average Premium Pricing data comes from our partners at Coverage.com.
  • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • 865/1,000 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

Progressive offers a variety of discounts; chances are, a potential customer will qualify for at least one discount, making easy savings possible. The Name Your Price Tool allows you to review your insurance options based on what you are willing to pay.

Pros

  • Simple online quotes
  • Customizable coverage
  • Useful discount options

Cons

  • Expensive average premium
  • Below average claims satisfaction ratings
Read More

Types of Coverage Offered

  • Roadside assistance
  • Custom parts and equipment
  • Rideshare and deductible savings bank
  • Loan/lease payoff

Discounts Available

  • Continuous insurance (also includes time with previous auto carriers)
  • Teen driver
  • Homeowner discount (even with another carrier)
  • Good student
  • Getting a quote and signing up online

Further Reading on Progressive:

Allstate

Best for:

If you’re a safe driver, Allstate is your best bet, since it offers safe driver discounts. Allstate is a household name in auto insurance carriers, providing coverage for automobiles over 90 years.
  • 4.2 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • $705* Average Premium Pricing data comes from our partners at Coverage.com.
  • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • 876/1,000 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

If you’re a safe driver, Allstate is your best bet, since it offers safe driver discounts. Allstate is a household name in auto insurance carriers, providing coverage for automobiles over 90 years.

Pros

  • Resources and discounts for new drivers
  • Helpful mobile and online tools
  • Good for families with teen drivers

Cons

  • Customer service quality varies depending on region
  • Higher than average premiums
Read More

Further Reading on Allstate:

USAA

Best for:

Active and retired military and their families. USAA is dedicated to serving this population, and the customer service and claim handling is considered the best in the industry.
  • 4.4 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • $539* Average Premium Pricing data comes from our partners at Coverage.com.
  • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • 890/1,000 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

Active and retired military and their families. USAA is dedicated to serving this population, and the customer service and claim handling is considered the best in the industry.

Pros

  • Affordable quotes
  • Excellent customer service ratings
  • Excellent claims satisfaction ratings

Cons

  • Available only for active and retired military and their families
Read More

Types of Coverage Offered

  • Collector and classic car
  • Rideshare insurance

Discounts Available

  • Military installation (for storing vehicle on a base); not available in New York state
  • Rental car discounts
  • Hotel discounts

Further Reading on USAA:

Liberty Mutual

Best for:

Drivers who are looking to maintain their policies via a mobile app. Customer reviews for the mobile app are very favorable and it’s described as user-friendly from the very start, providing quotes that are fast and accurate.
  • 4.2 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • N/A Average Premium Pricing data comes from our partners at Coverage.com.
  • A AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • 867/1,000 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

Drivers who are looking to maintain their policies via a mobile app. Customer reviews for the mobile app are very favorable and it’s described as user-friendly from the very start, providing quotes that are fast and accurate.

Pros

  • Simple quote process
  • Solid policy offerings
  • Ability to lower deductible by investing in deductible fund

Cons

  • Below-average claims satisfaction scores
Read More

Types of Coverage Offered

  • High value
  • Rideshare
  • Electric

Discounts Available

  • Advanced safety features discount
  • Alternative energy vehicle discount
  • RightTrack program for safe driving

Further Reading on Liberty Mutual:

Farmers Insurance

Best for:

Farmers is ranked third for “digital experience,” so if you prefer to use an app or manage your account online, Farmers is a good option. Farmers also allows you to customize your policy to suit your needs.
  • 3.8 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • $587* Average Premium Pricing data comes from our partners at Coverage.com.
  • A- AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • 827/1,000 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

Farmers is ranked third for “digital experience,” so if you prefer to use an app or manage your account online, Farmers is a good option. Farmers also allows you to customize your policy to suit your needs.

Pros

  • Highly rated claims process
  • Range of available add-ons
  • Great online and mobile tools

Cons

  • Customer service ratings vary, considered average at best
Read More

Types of Coverage Offered

  • High value
  • Collectible autos
  • Rideshare
  • Electric

Discounts Available

  • Track driving habits on Signal app
  • Occupational discounts for certain professions

Further Reading on Farmers:

Nationwide

Best for:

Customers seeking plenty of policy offerings and add-ons will find that Nationwide doesn’t disappoint. Nationwide is available in most states and received good ratings for claims satisfaction, so the claims process may be easier if you ever need to file a claim.
  • 3.8 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • $566* Average Premium Pricing data comes from our partners at Coverage.com.
  • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • 876/1,000 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

Customers seeking plenty of policy offerings and add-ons will find that Nationwide doesn’t disappoint. Nationwide is available in most states and received good ratings for claims satisfaction, so the claims process may be easier if you ever need to file a claim.

Pros

  • Many coverage options
  • Helpful policy management tools
  • Accident forgiveness available

Cons

  • Not many discounts
Read More

Types of Coverage Offered

  • Gap insurance
  • Roadside insurance

Discounts Available

  • Defensive driving for people over 55 who have completed driver safety course
  • Automatic bill pay
  • SmartRide for driving safety

Further Reading on Nationwide:

American Family

Best for:

Providing affordable insurance to policyholders, as well as good customer service. American Family serves primarily the Midwest and Northwestern United States, and is considered ideal for policyholders on a budget.
  • 4.6 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • $542* Average Premium Pricing data comes from our partners at Coverage.com.
  • A AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • 862/1,000 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

Providing affordable insurance to policyholders, as well as good customer service. American Family serves primarily the Midwest and Northwestern United States, and is considered ideal for policyholders on a budget.

Pros

  • Variety of discounts
  • Good customer service ratings
  • Affordable coverage

Cons

  • Only 19 states served
Read More

Types of Coverage Offered

  • Classic cars
  • Rideshare

Discounts Available

  • Generational discount for children of policyholders
  • Young volunteer discount (for drivers under 25 who volunteer in the community)
  • Discount just for switching to American Family

Further Reading on American Family:

Travelers

Best for:

Travelers is a good option for new drivers, offering accident forgiveness and discounts for students. This company also offers a variety of coverage options.
  • 4.2 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
  • $752* Average Premium Pricing data comes from our partners at Coverage.com.
  • A AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
  • 861/1,000 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

Why we chose it

Travelers is a good option for new drivers, offering accident forgiveness and discounts for students. This company also offers a variety of coverage options.

Pros

  • Thorough coverage options
  • Ample discounts
  • Mobile app with same functionality as website

Cons

  • Poor claims satisfaction scores
Read More

Types of Coverage Offered

  • High value
  • Rideshare
  • Electric cars

Discounts Available

  • InteliDrive for safe driving
  • Good student
  • Paperless billing

Further Reading on Travelers:

*Data provided by Coverage.com, price based on the state minimum required policy. **J.D. Power’s 2020 U.S. Auto Insurance Study average rating. Based on a 1,000-point scale.

Small vs. major auto insurance companies

When we talk about the biggest car insurance companies, it’s worth noting that smaller insurance companies also provide coverage for drivers. You may wonder what to expect from a smaller insurance company, and which type of insurer is better for you.

Larger insurance companies generally provide more coverage options for their customers; as they have more customers, they generally offer more insurance options to meet the needs of vast customer bases. Larger auto insurance companies are more likely to provide customer service on a 24/7 basis, as they hire more employees, and they generally have a larger network of agents.

Smaller companies, however, may be good options for specialty insurance. They can offer superior products and can sometimes charge lower rates due to having less overhead expenses.

Here are some points to consider:

  • Major auto insurance companies are generally considered secure by the general public, due to brand recognition. If security matters to you, a larger company may be your best bet in the event you have to file an insurance claim; there is a greater likelihood your claim will be paid in full.
  • The largest auto insurance companies typically provide more options for accessibility. They have more agents and employees, meaning if you need to speak to someone, there is a greater likelihood you can reach someone at any time at a larger company.
  • Smaller insurance companies, however, can provide specialty insurance and in some cases, lower rates.
  • The quality of service, however, is not related to the size of the insurance company.

FAQs

About the Authors

Samantha Kostaras

Samantha Kostaras Insurance Reporter

Samantha Kostaras is an insurance reporter who covers personal finance and insurance. After a degree in finance from the University of Alabama and stint at Morgan Stanley, she worked as a financial analyst before becoming a journalist. Her writing has appeared in The Simple Dollar, Reviews.com, Coverage.com, and elsewhere.

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