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Largest car insurance companies
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What are the largest auto insurance companies?
The biggest car insurance companies are determined by their direct premiums written in 2023. Using the most recent NAIC data compiled by the Triple-I, these are the 10 largest auto insurance companies in the U.S. We have included each company’s Bankrate Score, which is based on our combined analysis of things like average rates from Quadrant Information Services, coverage options and third-party information from organizations like J.D. Power and AM Best. Bankrate Scores are out of a possible five points, with 5.0 being the highest.
| Company | Bankrate Score | Average annual minimum coverage premium | Average annual full coverage premium | Market share |
|---|---|---|---|---|
| State Farm | 4.3 | $958 | $2,891 | 18.3% |
| Progressive | 4.4 | $718 | $2,210 | 15.2% |
| Geico | 4.3 | $2,194 | $586 | 12.3% |
| Allstate | 3.9 | $951 | $3,310 | 10.4% |
| USAA | 4.3 | $597 | $2,068 | 6.3% |
| Liberty Mutual | 4.2 | Rates not available | Rates not available | 4.2% |
| Farmers | 3.8 | $1,081 | $3,283 | 4.2% |
| American Family | 4.0 | $907 | $2,825 | 2.1% |
| Travelers | 4.1 | $715 | $2,234 | 2.1% |
| Nationwide | 4.0 | $723 | $2,038 | 1.7% |
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Should I pick a large car insurance company?
Purchasing a policy from a large auto insurer could have multiple benefits since major carriers tend to have vast resources to offer. One factor to consider when choosing the right car insurance company for you is a company’s stability.
With more premiums written, a large insurance company is often more financially stable than a smaller, regional carrier that is more limited in its scope. While some national carriers may have higher rates than regional insurers, they may also be able to offer more discounts and savings programs that policyholders can use to lower their costs.
The largest auto insurance companies also tend to offer extended customer service hours, sometimes even offering 24/7 instant support by phone and chat. Smaller car insurance companies may not have the resources to maintain these extended levels of customer support.
When it comes to whether a large insurance company or small company is better, it depends on your needs and what you want in an auto insurer.
Benefits of choosing a large insurance company
Pros
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Generally more financially stable
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Might offer more discounts
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Extended customer service hours
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Faster claims processing
Cons
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Customer service can be delayed due to volume
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Policyholders may receive less individualized assistance
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Available agents online or via phone may be less likely to understand the unique needs of drivers in your region
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze May 2025 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2023 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Bankrate Scores
Our 2025 Bankrate Score for auto insurance considers key variables that our insurance editorial team determined impact policyholders’ experiences with an insurance company. These factors include a robust assessment of each company’s cost of coverage, product availability, financial strength ratings, online capabilities and customer and claims support accessibility. We grouped these factors into three essential categories — cost and ratings, coverage and savings, and support — which we then weighted in a tiered approach.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
- Tier 1 (Cost & ratings): To determine how well auto insurance companies satisfy these priorities, our team analyzed quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the National Association of Insurance Commissioners (NAIC).
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated the discount options listed on each company’s website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored in a company’s corporate sustainability efforts.
