Tag: Largest

The Ten Largest Auto Insurance Companies of 2020

The largest car insurance companies by state

State Farm is the largest insurer in 35 states and Washington, D.C. After State Farm, GEICO was most frequently the largest insurer, taking the top market share spot in 10 states. Progressive held the most market share in 4 states, and American Family in just 1.

Largest auto insurance companies in each state


Big vs. small insurance companies

The trade-off between large insurance companies and small ones typically involves giving up competitive rates for an improved customer experience.

  • When using a small insurance company for your auto insurance, you’ll likely communicate exclusively with one insurance agent.
  • While you might lose a personal connection when selecting a major insurer, the largest companies tend to have more financial stability. In fact, these carriers underwrite and pay out billions of dollars per year, and still often leverage their resources to offer drivers lower insurance rates.

You

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The Top Ten Largest Auto Insurance Companies of 2020

The auto insurance market in the U.S. is dominated by a few key players. In fact, the top ten auto insurance companies control approximately 72% of the market. While the top ten insurance companies underwrite a large number of policies, they have very distinct characteristics. To help you choose the best insurance company for your situation, we created a list of the top ten largest auto insurance companies in the U.S. and discuss what makes each of them unique.

Rank Auto Insurance Company Premiums Written ($bn) Market Share
1 State Farm $42.0 17%
2 GEICO $33.1 13%
3 Progressive $27.1 11%
4 Allstate $22.7 9%
5 USAA $14.5 6%
6 Liberty Mutual $11.8 5%
7 Farmers $10.5 4%
8 Nationwide $6.7 3%
9 Travelers $4.7 2%
10 American Family $4.7 2%

What are the Biggest Auto Insurance Companies?

When looking at the rankings of the top auto insurance companies

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