5 Largest US Auto Insurance Companies of 2019

5 Largest US Auto Insurance Companies of 2019

Talk about the US insurance market and you would see that the market is swamped with ample of players. However, only a few are able to dominate the market with the best insurance policies and satisfying customer experience. These players rule an average of more than 75% of the market whereas the remaining players collaboratively make a contribution of 25%.

When comparing the best players in the industry, few auto insurance companies stood out the test of time and experience with distinctive features and increased reliability. For a better understanding of these insurance service providers, here are 5 largest auto insurance companies in the US:

State Farm

J.D. Power claims satisfaction: About Average

Average rate for good driver: $1,337 per year

State Farm is the largest auto insurance in the US with a total market share of 18% and annual profit of over $1.7 billion. Mutually operated by all its policyholders, the company employs more than 70,000 employees and 19,000 insurance agents.

Key Highlights of State Farm are:

  • Trustworthy relationships
  • Quality and committed services
  • Financial strength and reliability
  • High savings with purchase of auto insurance
  • Plenty of purchase options with varying levels of premiums
  • Many discounts like ‘Drive Safe & Save’ and ‘Steer Clear’ against a history of safe driving.

GEICO

J.D. Power claims satisfaction: About Average

Average rate for good driver: $1,627 per year

GEICO is a huge insurance company in the US covering more than 16 million auto policies insuring about 24 million vehicles across the country. Furthermore, with an employment of over 36,000 employees across nine of its regional offices is a testimony to its business growth over the years. Low premiums and easy availability make GEICO a wonderful experience.

Key Highlights of GEICO are:

  • Huge variety of coverage and premiums
  • Get emergency roadside assistance
  • Breakdown coverage and ridesharing insurance
  • Auto Repair Xpress

Progressive

J.D. Power claims satisfaction: About Average

Average rate for good driver: $1,828 per year

Progressive is the third largest auto insurance company in the United States with an employment of over 33,000 employees across 400 offices. Established in the year 1937, it is a public traded company with highly competitive rates and high claim satisfaction.

Key Highlights of Progressive Insurance are:

  • Spectrum of discount options based on safe driving.
  • Discounts available for multi-car premiums, multi-policy rates, online discounts, and pay-in-full option.
  • High reliability and trustworthiness
  • An option of customization to personalize your rate based on driving skills
  • Strong financial ratings

Allstate

J.D. Power claims satisfaction: About Average

Average rate for good driver: $1,964 per year

Allstate is another large auto insurance company mutually owned by its policyholders. With an employment of over 79,000 employees, the company takes an edge over others when personalized auto insurance becomes the need. However, the premiums are high and customer satisfaction average yet a huge spectrum of discounts make Allstate a feasible service provider to rely on.

Key Highlights of Allstate are:

  • Drivewise is an innovative tool that offers quality coverage with high savings
  • Ample of discount options available
  • Different types of coverage and policies
  • Collision coverage with a deductible

Liberty Mutual

J.D. Power claims satisfaction: Among ‘The Rest’

Average rate for good driver: $2,752 per year

Liberty Mutual enjoys a market share of 5.3% and a written premium of $33.8 billion. The company has its own designated mobile application to pay bills, track claims, and get all required insurance support.

Key Highlights of Liberty Mutual are:

  • Coverage of antique and classic cars
  • Coverage of all-terrain and off-road vehicles
  • Wide range of coverage
  • Reduction in deductible fund
  • 24-hour claim service