10 Largest Car Insurance Companies in California (2024)

FAQs

What are the largest auto insurance companies in California? ›

The largest car insurance companies in California are State Farm, Geico and Allstate, according to the National Association of Insurance Commissioners. State Farm is the largest auto insurer in California, with a market share of more than 12%, as well as the largest property and casualty insurer in the United States.

If you're seeking affordable full coverage (liability, comprehensive, collision, and uninsured/underinsured motorist coverage), look no further. GEICO will have the cheapest rates for the average driver in California, with average costs hovering around $120 per month.

Over the last year, several large insurance companies, such as GEICO, Allstate, and most surprisingly, Liberty Mutual have pulled out of California's auto insurance market. The conditions in the state have led the insurers to believe that California drivers are too expensive to insure.

State Farm is the biggest auto insurance company in the country by market share, while Progressive, Geico and Allstate are the next three.

USAA, Nationwide, Travelers, Erie, Geico and Progressive are the cheapest car insurance companies nationwide, according to our analysis. Car insurance costs continue to rise as we approach fall.

For auto policies, State Farm is the largest insurance company in the U.S., with the biggest market share (16.9 percent) and over $46.6 million in direct premiums written in 2022.

Allstate stopped issuing new insurance policies for all business and personal property in California back in 2022. Since then, companies like State Farm, Farmers Insurance and The Hartford have made similar business moves.

Which insurance companies are leaving California? ›

From summer 2023 to early 2024, five other companies — AmGUARD, Falls Lake, The Hartford, Tokio Marine Insurance Co, and American National — stopped writing new home insurance policies in California, putting immense strain on the home insurance market. California homeowners have found themselves scrambling for coverage ...

Cheapest car insurance companies for seniors in California

Cheapest for seniors at age 60: Progressive, $115 per month. Cheapest for seniors at age 65: Progressive, $122 per month. Cheapest for seniors at age 70: USAA, $133 per month. Cheapest for seniors at age 75: Geico, $142 per month.

Executive Life Insurance Company is regarded to be the biggest bankruptcy of an insurance company in the United States in the course of recent years. Based in California, the life company had to file for bankruptcy in 1991 following disastrous investments in junk bonds.

Hyundai, Kia, and Genesis—which share corporate ownership—have the most awards overall. Toyota and Lexus come in second, and Mazda is third.

Brand Market Share and Summary

Brand registrations increased in 2023 for 26 of the top 30 selling brands in the state, with Toyota remaining California's market share leader, holding 15.7 percent. Tesla follows at 13 percent, Honda holds 9.7 percent, Ford at 7.7 percent, and Chevrolet at 6.7 percent.

By Accident: Geico Is Cheaper for Minimum and Progressive for Full Coverage. If you have an accident on your record, data shows that Geico is cheaper for minimum-coverage policies and Progressive is just slightly cheaper for a full-coverage insurance policy. Check out the table below.