If you own a car, having insurance is a must. To choose the right insurance, you need to understand the quality of your coverage and the costs of your premiums. Here’s the overview of several car insurance companies in the United States.

1. State Farm

One of the biggest car insurance companies in the United States is State Farm.They holdabout 16.9% of the market share and have written about $46.7 billion in premiums in 2023. It’s recognized for its wide range of local agents and the personalized service it offers.

State Farm provides great rates, with average monthly premiums of about $107, which is roughly $19 lower than the average for the top 10 insurers. Customers are really happy, with J.D. Power scores that are above average for both customer service and claims handling.

2. Progressive

The next car insurance companies areProgressive. With around 14.1% of the market share and writing approximately $38.9 billion in premiums. It’s popular for its innovative pricing tools, such as the Snapshot program, which rewards safe driving.

Progressive’s average monthly premium is about $134, which is just a bit higher than the other insurance company’s average by $7. Customer satisfaction scores are a bit below average, but Progressive continues to be a favorite among tech-savvy customers who enjoy its online tools and flexible coverage options.

3. GEICO

GEICO is an car insurance companies that holds around 13.8% with $38.1 billion in premiums written. It offers great value with average monthly premiums around $100, which is about 26% less than other company’s average.

GEICO provides an online experience that super easy to use along with a variety of coverage options to choose from. Many customersare satisfied, and GEICO boasts an excellent financial strength rating.

4. Allstate

Allstate ranks as the fourth-largest car insurance companies.Holding a 10.7% market share and generating $29.6 billion in premiums. The average monthly premium is around $168, which makes it the priciest option among other companies by about $41. Allstate provides a variety of coverage options and usage-based insurance programs such as Drivewise.

5. USAA

USAA is an insurance company dedicated to serve military members, veterans, and their families. Theyhold around 5.9% of the market with $16.4 billion in premiums. It regularly gets fantastic customer satisfaction ratings, with 95% of policyholders feeling satisfied or very satisfied.

USAA provides some of the most affordable carinsurance premiums, around $90 each month. Its financial strength is rated superior, making it a fantastic choice for eligible military customers.

6. Liberty Mutual

With a 5% market share, Liberty Mutual generates $13.7 billion in premium. It provides wide range of discounts, featuring options for young drivers and a usage-based insurance program called RightTrack.

Liberty Mutual’s average monthly premium is around $143. Customer satisfaction is quite good, even though the company does have a few complaints from customers than some of its competitors.

Comparing different car insurance companiesis important. As you compare your options, consider several factors such as your driving needs, budget, and eligibility. By doing this, you can find the best car insurance that fits your lifestyle.

Source:
1. https://www.thezebra.com/insurance-companies/
2. https://www.marketwatch.com/insurance-services/auto-insurance/list-of-car-insurance-companies/