Virginia Beach Finance

Jun 13 2017

The 10 Largest Auto Insurance Companies #car #insurance #companies #in #massachusetts


The 10 Largest Auto Insurance Companies

If you watch TV or use the Internet, it won’t be long before you see an ad for a car insurance company. Big insurance companies spend billions of dollars on marketing to make sure you remember their name.

There are more than 200 companies offering car insurance, according to J.D. Power, but larger companies can have advantages, such as financial strength and stability, a wider network of agents and claims adjusters, 24-hour customer service, and better apps and websites.

Here are the nation’s top 10 largest auto insurance companies, ranked by 2016 market share, along with details about each, including the latest available consumer satisfaction ratings from Consumer Reports and J.D. Power. (See full methodology at end.)

Consumer ratings (J.D. Power)

Special programs and discounts

1. State Farm

“About average” for claims satisfaction and shopping satisfaction.

Drive Safe Save usage-based insurance

State Farm offers a well-known brand name with a large selection of products, but it’s not strong in customer satisfaction and has a very high level of consumer complaints.

2. Geico

“About average” for claims satisfaction and shopping satisfaction.

Discounts for federal employees, military members and members of more than 500 “affinity” groups, including professional and recreational organizations.

Geico is notable for frequently offering lower prices than other large insurers, but customer satisfaction with claims is so-so.

3. Allstate

“About average” for claims satisfaction and shopping satisfaction.

  • Your Choice Auto Platinum package rebates up to 5% for every six months without accidents.
  • Drivewise program has discounts based on when, how much and how well you drive.

Allstate offers a wide variety of insurance products and has a low number of consumer complaints compared to its competitors, but its customer satisfaction scores for claims are only average.

4. Progressive

“About average” for claims satisfaction, among “the rest” for shopping satisfaction.

Snapshot usage-based program prices insurance based on factors such as mileage, when you drive and sudden changes in speed. Low mileage and good driving habits can save you money.

If you’re interested in convenient features that help you compare prices or deal with an auto accident, Progressive is a good choice.


“Among the best” for claims satisfaction and shopping satisfaction.

  • Offers options for military members, such as a vehicle-storage discount.
  • Has discounts for staying with the company and passing coverage to family members.
  • Regularly Issues dividends.

USAA sells only to active and retired members of the miltary and their families. It’s a particularly good value, offering both low prices and strong customer service.

6. Liberty Mutual

“About average” for claims satisfaction, “better than most” for shopping satisfaction.

Better Car Replacement coverage will pay for a car that’s one model year newer, with 15,000 fewer miles, if your vehicle is totaled.

Liberty Mutual includes coverage features on every auto policy that are typically optional with other insurers.

7. Farmers

“About average” for claims satisfaction and shopping satisfaction.

Offers affinity discounts to a wide range of professionals, including accountants, architects, pilots, doctors, teachers, engineers, firefighters, lawyers, police officers and scientists.

Farmers is one of the best-known names in the industry with a lot of optional auto coverage choices, including ridesharing insurance for customers who drive for Uber or Lyft.

8. Nationwide

“Better than most” for claims satisfaction; “about average” for shopping satisfaction.

Is a partner in the Plenti rewards program, which provides loyalty points that consumers can earn and use with various companies.

If you’re looking for an insurer with an ample line of products and high customer satisfaction marks for claims service, Nationwide is worth considering.

9. American Family

“Better than most” for claims satisfaction and shopping satisfaction.

Offers a Steer into Savings Discount for switching from a competitor and an EarlyBird Discount for switching at least seven days before a policy takes effect.

American Family has a good customer-satisfaction track record and a large selection of insurance products.

10. Travelers

“About average” for claims satisfaction and shopping satisfaction.

Offers a discount of up to 10% for hybrid or electric vehicles.

Travelers has a wide variety of insurance options and a low level of consumer complaints.

Finding the best insurance company for you

Don’t choose an insurance company just because your parents used it or its TV ads seem smart. Take a look at the big picture of customer satisfaction, claims service and price. NerdWallet’s car insurance comparison tool can help you compare rates.

Methodology: J.D. Power ratings are from 2016 for claims satisfaction and 2017 for shopping satisfaction. Market share rankings for 2017 come from A.M. Best.

Updated May 5, 2017.

Find the cheapest car insurance for you

See the cheapest insurers for you based on rates from large insurers in your state.

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