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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
The 10 largest car insurance companies in the United States combine to make up 76% 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 Guides Auto Team have searched through data 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.
According to 2021 data from the National Association of Insurance Commissioners (NAIC), the 10 largest car insurance companies account for 76% 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.
*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.
Better Business Bureau (BBB) rating: A+
AM Best financial strength rating: A++
J.D. Power 2022 claims satisfaction score: 882 out of 1,000
Headquarters: Bloomington, Illinois
State Farm is the nation’s largest car insurance company, accounting for 15.9% 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.
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 Drive Safe & Save™ to policyholders. This program calculates rates through a mobile app by tracking quick acceleration, hard braking, times of day, speeding and phone use.
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:
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.
Keep reading: State Farm insurance review
BBB rating: A+
AM Best financial strength rating: A++
J.D. Power 2022 claims satisfaction score: 874 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 14.3% 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.
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.
Below are the national average rates for both minimum- and full-coverage auto insurance policies from Geico:
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.
Keep reading: Geico insurance review
BBB rating: A+
AM Best financial strength rating: A+
J.D. Power 2022 claims satisfaction score: 861 out of 1,000
Headquarters: Mayfield Village, Ohio
Progressive is the third-largest car insurance company in the nation, accounting for 13.7% 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.
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.
The average rates across the country for minimum- and full-coverage insurance with Progressive are as follows:
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.
Keep reading: Progressive insurance review
BBB rating: A+
AM Best financial strength rating: A+
J.D. Power 2022 claims satisfaction score: 889 out of 1,000
Headquarters: Northbrook, Illinois
Allstate comes in fourth among the largest car insurance companies with a market share of 10.4%. 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.
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.
Allstate’s national average prices for full- and minimum-coverage car insurance can be found in the table below.
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.
Keep reading: Allstate insurance review
BBB rating: Not rated
AM Best financial strength rating: A++
J.D. Power 2022 claims satisfaction score: 890 out of 1,000
Headquarters: San Antonio, Texas
USAA is the fifth-largest car insurance company, with a 6% 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.
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.
Average costs for car insurance policies purchased from USAA are as follows:
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.
Keep reading: USAA insurance review
BBB rating: A+
AM Best financial strength rating: A
J.D. Power 2022 claims satisfaction score: 870 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.
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.
Keep reading: Liberty Mutual insurance review
BBB rating: A
AM Best financial strength rating: A
J.D. Power 2022 claims satisfaction score: 882 out of 1,000
Headquarters: Woodland Hills, California
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.
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.
Keep reading: Farmers Insurance review
BBB rating: A+
AM Best financial strength rating: A+
J.D. Power 2022 claims satisfaction score: 868 out of 1,000
Headquarters: Columbus, Ohio
Coming in as the eighth-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.
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.
Keep reading: Nationwide insurance review
BBB rating: A
AM Best financial strength rating: A
J.D. Power 2022 claims satisfaction score: 874 out of 1,000
Headquarters: Madison, Wisconsin
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.
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.
Keep reading: American Family Insurance review
BBB rating: A
AM Best financial strength rating: A++
J.D. Power 2022 claims satisfaction score: 854 out of 1,000
Headquarters: New York City
As the 10th-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®.
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.
Keep reading: Travelers insurance review
Below, you can see how some of the largest car insurance companies in the industry compare to each other in pricing. We’ve also included the average rate for a full-coverage auto insurance policy across the U.S. 
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 15.9% 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.
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