Insurance companies are ranked based on the number of policies they underwrite and the quality as well as quality of services they offer as either large or small. We are determined to help you choose the best insurance company for your needs in 2022. As such, we analyze the top auto insurance companies in the united states.
1: State Farm
On top of the pyramid of the largest auto insurance companies in the US is the state farm insurance company. It holds the position due to the number of policies it has underwritten as well as the size of its market share. State Farm is estimated to have underwritten over 40 billion dollars in premiums. This could represent about 16% of the market share in the entire insurance industry.
Geico comes closely at the second position among the largest auto insurance companies in the united states. It controls about 14%/of the market share. This is about 33.9 billion in premiums.
Progressive offers competitive rates and that informs it’s the large size of the market share. It was established in late 1930s and has independent agents all over where customers can sign up through them.
Allstate insurance company controls around 10% of the market share. It offers a wide variety of discounts that makes their covers more affordable.
This is one of the best companies owing to their affordable rates well as their fast claim processing and settlement speed. Despite its restricted membership, USAA still sits at fifth place among the largest auto insurance companies in US.
In conclusion, if you wish to take up an auto insurance cover, you should consider one of these top companies depending on your needs and budget.
Others that are also highly ranked include Farmers, Liberty mutual, Nationwide insurance, American family, Travellers among others