Here are the most popular car insurance companies on the market, per the Insurance Information Institute. This information was compiled by comparing the amount of direct premiums written for each auto insurance company in 2021, along with the total percentage of market share. In all, the top 10 car insurance companies made up 70% of the market for personal auto insurance coverage.
Also included for each insurance company are its J.D. Power satisfaction rates from 2022. Data analytic company, J.D. Power conducts annual reviews of the car insurance industry, and is a good source to find insurance based on customer satisfaction ratings on a 1,000-point scale.
Additionally, compare auto insurance rates from some of the best carriers below.
Most popular car insurance companies
These are the top ten most popular car insurance companies on the market.
1. State Farm
Direct premiums written: $41,665,754
Market share: 16.0%
J.D. Power Satisfaction Rating: 882
2. Geico
Direct premiums written: $37,422,558
Market share: 14.4%
J.D. Power Satisfaction Rating: 874
3. Progressive
Direct premiums written: $35,852,921
Market share: 13.8%
J.D. Power Satisfaction Rating: 861
4. Allstate
Direct premiums written: $27,221,928
Market share: 10.4%
J.D. Power Satisfaction Rating: 889
5. USAA Insurance Group
Direct premiums written: $15,738,749
Market share: 6.0%
J.D. Power Satisfaction Rating: 890
6. Liberty Mutual
Direct premiums written: $13,257,306
Market share: 5.1%
J.D. Power Satisfaction Rating: 870
7. Farmers Insurance Group of Companies
Direct premiums written: $12,441,182
Market share: 4.8%
J.D. Power Satisfaction Rating: 882
8. Nationwide Mutual Group
Direct premiums written: $5,565,737
Market share: 2.1%
J.D. Power Satisfaction Rating: 868
9. American Family Insurance Group
Direct premiums written: $5,488,677
Market share: 2.1%
J.D. Power Satisfaction Rating: 874
10. Travelers Companies Inc.
Direct premiums written: $5,328,115
Market share: 2.0%
J.D. Power Satisfaction Rating: 854
Car Insurance Companies Customer Satisfaction
When deciding on car insurance, not only is it important to compare prices and coverage, but it’s also beneficial to compare customer satisfaction between companies. The following ratings can help you determine how well the most popular car insurance companies rank in this regard.
J.D. Power Scores: Data analytic company, J.D. Power, conducts annual reviews of the car insurance industry, and is a good source to find insurance based on customer satisfaction ratings. Ratings are based on a 1,000-point basis.
NAIC Complaint Index: The NAIC, or National Association of Insurance Commissioners, oversees insurance regulation across the U.S. The organization compiles a list of customer complaints to create a Complaint Index. The baseline for the number of complaints is 1.00 on the Index. Ratings above this have more complaints than average, and ratings below have fewer complaints than average.
AM Best ratings: AM Best rates show the financial strength of auto insurance companies, showing the companies' ability to pay claims. Higher scores typically show the company is more financially stable.
How to get the best rates on car insurance
Between 2022 and 2023, car insurance rates have increased by almost 14%, bringing the national average premium for full coverage car insurance from $1,771 to $2,014. Because of this, it’s important to search for the best rates available. Here are a few ways to do so.
- Shop around: Getting quotes from various insurance companies can help you find the best rates available.
- Take advantage of discounts: Safe driving, good student and multiple policies are some of the most common discounts offered by auto insurance companies.
- Improve your credit: In most states, credit card companies take into account your overall credit score to determine your car insurance rates.
- Increase your deductibles: Since your out-of-pocket expenses go up, your premium will be lower.
Related Content
-
I'm want to give my 3 grandkids $5K each for Christmas.You're comfortably retired and want to give your grandkids a big Christmas check, but their parents are worried they might spend it all. We ask the pros for help.
-
If You're Not Doing Roth Conversions, You Need to Read ThisRoth conversions and other Roth strategies can be complex, but don't dismiss these tax planning tools outright. They could really work for you and your heirs.
-
Could Traditional Retirement Expectations Be Killing Us?A retirement psychologist makes the case: A fulfilling retirement begins with a blueprint for living, rather than simply the accumulation of a large nest egg.
-
Time to Reshop Your Home and Auto InsuranceMaking Your Money Last Comparing prices on policies and bundling your coverage may save you money.
-
Time for an Insurance ReviewCoronavirus and Your Money You may need to update your policies in light of COVID-19.
-
How to Switch Your Car InsuranceSwitching car insurance companies could save you hundreds. Learn when and how to make the switch to maximize savings and avoid hidden fees.
-
Why Warren Buffett Loves Fed Rate Hikesinvesting As a bondholder, owner of insurance companies and a big investor in banks, Berkshire Hathaway profits from rising interest rates in a number of ways.
-
How to Verify That New-to-You Auto Insurance Company Is Legitinsurance Start by looking up the insurer’s complaint volume and how quickly those complaints were resolved.
-
Can You Believe Car-Insurance Ads?
insurance Most contain a grain of truth. But, trust us, it takes an hour, not 15 minutes, to find the lowest rates.
-
Best Sites to Save on Auto Insuranceinsurance You can go online to find the lowest rates.
-
The Best in Insuranceinsurance Here is where to find the best deals on life, health, auto, homeowners and long-term care insurance.
