Biggest 10 Auto Insurance Companies in the US

Top 10 Auto Insurance Companies in the US by Market Share, Premiums Written, and Number of Customers

The auto insurance industry in the United States is a highly concentrated market, with the top 10 companies accounting for over 50% of the market share. These companies are:

Source: National Association of Insurance Commissioners (NAIC)

Market Share of the Top 10 Auto Insurance Companies in the US

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The top 10 auto insurance companies in the US have a combined market share of over 50%. State Farm is the largest auto insurer in the US, with a market share of 18.0%. Geico is the second largest auto insurer, with a market share of 14.5%. Progressive is the third largest auto insurer, with a market share of 10.8%.

Premiums Written by the Top 10 Auto Insurance Companies in the US

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The top 10 auto insurance companies in the US wrote a total of over $200 billion in premiums in 2021. State Farm wrote the most premiums, with a total of $45.6 billion. Geico wrote the second most premiums, with a total of $36.7 billion. Progressive wrote the third most premiums, with a total of $27.2 billion.

Number of Customers of the Top 10 Auto Insurance Companies in the US

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The top 10 auto insurance companies in the US have a total of over 200 million customers. State Farm has the most customers, with a total of 83 million. Geico has the second most customers, with a total of 24 million. Progressive has the third most customers, with a total of 20 million.

Who Are the Biggest Auto Insurance Companies in the US?

The biggest auto insurance companies in the US are State Farm, Geico, Progressive, Allstate, and Liberty Mutual. These companies have a combined market share of over 50%. They offer a variety of auto insurance products and services, including liability coverage, collision coverage, comprehensive coverage, and uninsured motorist coverage.

How to Choose the Right Auto Insurance Company

When choosing an auto insurance company, it is important to consider the following factors:

• Your budget: How much can you afford to spend on auto insurance?
• Your coverage needs: What type of coverage do you need?
• Your driving history: Have you had any accidents or traffic violations?
• Your credit score: Your credit score can affect your auto insurance rates.
• Your location: The cost of auto insurance can vary depending on where you live.

Once you have considered these factors, you can start shopping for auto insurance quotes. You can get quotes from multiple companies to compare rates and coverage.

Tips for Saving Money on Auto Insurance

Here are some tips for saving money on auto insurance:

• Shop around: Get quotes from multiple companies to compare rates.
• Increase your deductible: A higher deductible can lower your monthly premiums.
• Take advantage of discounts: Many companies offer discounts for things like good driving habits, being a safe driver, and having multiple policies with the same company.
• Bundle your policies: Bundling your auto and home insurance policies can save you money.
• Ask for a lower rate: If you have a good driving record and a clean credit history, you may be able to negotiate a lower rate with your insurance company.

By following these tips, you can save money on auto insurance and get the coverage you need.