10 Major Auto Insurance Companies You Should Know

1. State Farm:

• Founded in 1922
• Largest auto insurer in the US with over 45 million policies
• Offers a wide range of coverage options and discounts
• Known for its low rates and excellent customer service

2. GEICO:

• Founded in 1936
• One of the most recognizable auto insurance brands in the country
• Known for its direct-to-consumer approach and affordable rates
• Offers military and government employee discounts

3. Allstate:

• Founded in 1931
• Another leading auto insurer with over 30 million policies
• Provides nationwide coverage with a strong network of agents
• Offers a variety of specialty products, such as classic car and RV insurance

4. Liberty Mutual:

• Founded in 1912
• Insures over 12 million vehicles
• Focuses on providing tailored coverage options for individuals and businesses
• Offers a comprehensive range of insurance products, including auto, home, and business insurance

5. Farmers Insurance:

• Founded in 1928
• One of the largest auto insurers in California
• Known for its strong local agent network
• Offers a wide range of discounts and coverage options

6. Travelers:

• Founded in 1864
• A global insurance provider with operations in over 100 countries
• Offers auto insurance coverage for both personal and commercial vehicles
• Known for its financial stability and industry expertise

7. National General:

• Founded in 1939
• A specialty insurer that focuses on non-standard auto insurance
• Provides coverage for drivers with high-risk factors, such as young drivers or those with poor credit
• Offers affordable rates and flexible payment plans

8. Progressive:

• Founded in 1937
• A leading innovator in the auto insurance industry
• Known for its Snapshot program, which tracks driving habits and rewards safe drivers with discounts
• Offers a variety of coverage options and customizable policies

9. USAA:

• Founded in 1922
• Exclusively serves active duty military members, veterans, and their families
• Offers a wide range of insurance products tailored to the specific needs of military families
• Known for its exceptional customer service and competitive rates

10. Erie Insurance:

• Founded in 1925
• A regional insurer that operates in 12 states in the Mid-Atlantic and Midwest
• Known for its personalized service and community involvement
• Offers a variety of coverage options and discounts for safe drivers

Why Auto Insurance Matters

Auto insurance protects you from financial liability in the event of an accident. It can cover the cost of injuries to yourself, passengers, or other drivers, as well as damage to vehicles and property.

Without auto insurance, you could be personally responsible for these costs, which can easily exceed tens of thousands of dollars.

Benefits of Auto Insurance

Auto insurance provides a number of benefits, including:

• Financial protection: Covers the cost of accidents and other covered events
• Peace of mind: Knowing that you are protected in case of an accident
• Insurance verification: Proof of insurance is required to drive legally in most states
• Discounts and perks: Many insurance companies offer discounts for safe driving habits and other factors

Tips and Tricks for Finding the Right Insurance

• Shop around: Get quotes from multiple insurance companies before making a decision.
• Compare coverage options: Make sure you understand the coverage levels and exclusions of each policy.
• Consider your driving habits: Your driving history and annual mileage can affect your rates.
• Ask for discounts: Many insurance companies offer discounts for various factors, such as multiple vehicles, good credit, or being a safe driver.
• Read the policy carefully: Make sure you understand the terms and conditions of your policy before signing.

Common Mistakes to Avoid

• Not having enough coverage: Underinsuring yourself can leave you financially exposed in the event of an accident.
• Driving without insurance: This is illegal and could result in fines, license suspension, and increased rates.
• Failing to report an accident: You should always report an accident to your insurance company as soon as possible.
• Lying on your insurance application: Providing false information can lead to your policy being canceled or denied.
• Canceling your policy: It's important to maintain continuous auto insurance coverage to avoid a coverage lapse.

Table of Auto Insurance Premiums by State

Source: Insurance Information Institute (III)

Table of Auto Insurance Discounts

Table of Auto Insurance Coverage Options

Table of Auto Insurance Comparison Shopping Sites