How to Compare Car Insurance Rates 2024
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Written by
Rob Bhatt
Edited by
Bryan Ochalla
Updated on:
Content was accurate at the time of publication.
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State Farm is the largest auto insurance company in the U.S. It also has the cheapest rates among the nation’s 10 largest auto insurance companies.
American Family only ranks eighth, but has the best complaint record.
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What are the largest auto insurance companies in the U.S.?
State Farm is the largest auto insurance company in the U.S. based on written premium, or the total amount it bills customers. Progressive is the second-largest car insurance company, followed by Geico and Allstate.
USAA, which is only available to the military community, is the nation’s fifth-largest car insurance company.
Top 10 car insurance companies by size
| Company | Market share | Written premium (in billions) |
|---|---|---|
| State Farm | 18.32% | $58.0 |
| Progressive | 15.25% | $48.3 |
| Geico | 12.30% | $38.9 |
| Allstate | 10.38% | $32.8 |
| USAA | 6.26% | $19.8 |
| Liberty Mutual | 4.21% | $13.3 |
| Farmers | 4.18% | $13.2 |
| American Family | 2.15% | $6.8 |
| Travelers | 2.08% | $6.6 |
| Nationwide | 1.71% | $5.4 |
Source: National Association of Insurance Commissioners, 2023 data
Which major company has the cheapest auto insurance?
Among major companies, State Farm has the cheapest car insurance quotes for most drivers, charging an average of $1,487 a year for full coverage. This works out to $124 a month, which is 24% less than the national average.
Travelers has the next-cheapest rate, $1,919 a year for full coverage. This is only $1 less than American Family’s rate of $1,920.
USAA is the cheapest overall. However, its eligibility requirements make it unavailable to most drivers.
| Company | Annual rate |
|---|---|
| State Farm | $1,487 |
| Travelers | $1,919 |
| American Family | $1,920 |
| Geico | $1,937 |
| U.S. average | $1,970 |
| Progressive | $2,032 |
| Nationwide | $2,226 |
| Allstate | $2,609 |
| Farmers | $3,091 |
| Liberty Mutual | Not available |
| USAA* | $1,199 |
Largest car insurance companies at a glance
Our list of the top 10 largest car insurance companies lets you compare them by rates and ratings.
Rates reflect the average price of full-coverage car insurance from each company. Claims satisfaction and overall satisfaction ratings are from J.D. Power. Complaint ratings are from the National Association of Insurance Commissioners (NAIC).
The 10 largest auto insurance companies in the U.S.
State Farm
- Average rate: $1,487 a year ($124 a month)
- Overall satisfaction rating: 833 (820 is average)
- Claims satisfaction rating: 891 (878 is average)
- Complaint rating: 0.78 (1.0 is average, lower is better)
- Financial strength: Rated A++ by AM Best
A generous discount for bundling your auto insurance with a home or renters policy makes State Farm’s rates even more attractive. The company gets high ratings for customer service, and its user-friendly website makes it easy to connect with a State Farm agent near you.
You can save more just by signing up for State Farm’s Drive Safe & Save. The program uses a smartphone app to monitor your driving. Unlike many other large car insurance companies, State Farm does not offer gap insurance or accident forgiveness.
Progressive
- Average rate: $2,032 a year ($169 a month)
- Overall satisfaction rating: 812 (820 is average)
- Claims satisfaction rating: 870 (878 is average)
- Complaint rating: 0.72 (1.0 is average, lower is better)
- Financial strength: Rated A+ by AM Best
Low prices and an easy-to-use online shopping tool help fuel Progressive’s popularity. Along with all the standard coverages, Progressive offers gap insurance, which you may need if you’re upside down in your financing or lease your vehicle. It also offers accident forgiveness, which protects you from a rate increase after your first accident.
Progressive has a better-than-average complaint rating. However, it ranks a little below industry averages for claims satisfaction and overall satisfaction.
Geico
- Average rate: $1,937 a year ($161 a month)
- Overall satisfaction rating: 818 (820 is average)
- Claims satisfaction rating: 871 (878 is average)
- Complaint rating: 0.7 (1.0 is average, lower is better)
- Financial strength: Rated A++ by AM Best
Geico’s shopping platforms make it easy to buy car insurance online or by phone. Although Geico does not offer its own homeowners insurance, it does sell policies from other companies in its network. This makes it possible to get a multipolicy discount for bundling your home and auto insurance.
Geico salutes members of the armed services with discounts of up to 15%. The company also offers a military customer service center exclusively for service members. The facility is managed by veterans.
Allstate
- Average rate: $2,609 a year ($217 a month)
- Overall satisfaction rating: 814 (820 is average)
- Claims satisfaction rating: 882 (878 is average)
- Complaint rating: 0.94 (1.0 is average, lower is better)
- Financial strength: Rated A+ by AM Best
Along with sizable discounts for things like bundling your home and auto insurance, Allstate offers policy features that can save you money down the line. Its Deductible Rewards program reduces your deductible for no extra charge when you avoid accidents. Its accident forgiveness protects you from a rate increase after your first accident.
Allstate’s Milewise program is a great way to save money if you only drive occasionally. With Milewise, your rate is based largely on the number of miles you drive each year.
USAA
- Average rate: $1,199 a year ($100 a month)
- Overall satisfaction rating: 876 (820 is average)
- Claims satisfaction rating: 900 (878 is average)
- Complaint rating: 0.99 (1.0 is average, lower is better)
- Financial strength: Rated A++ by AM Best
The military community loves USAA for its ability to maintain high customer service standards and low rates. The company’s accolades include the highest overall customer satisfaction rating among all car insurance companies from J.D. Power.
USAA’s digital platforms make it easy to shop and manage your policy online or through a smartphone app. You can also get quotes and talk to customer service reps by phone.
Unlike some of the other large car insurance companies, USAA does not offer gap insurance. However, it does offer pay-per-mile insurance. This can save you money if you only drive occasionally.
Liberty Mutual
- Average rate: Not available
- Overall satisfaction rating: 798 (820 is average)
- Claims satisfaction rating: 866 (878 is average)
- Complaint rating: 1.02 (1.0 is average, lower is better)
- Financial strength: Rated A by AM Best
If you total your new car, Liberty Mutual’s Better Car Replacement gives you a new one with less mileage, assuming you meet eligibility requirements. Liberty Mutual also offers gap insurance and accident forgiveness. You usually need gap insurance if you’re upside down in your financing or lease your vehicle. Accident forgiveness protects you from a rate increase after your first accident.
Liberty Mutual’s J.D. Power ratings for claims satisfaction and overall satisfaction are below industry averages. Its complaint rating is near the national average.
Farmers
- Average rate: $3,091 a year ($256 a month)
- Overall satisfaction rating: 802 (820 is average)
- Claims satisfaction rating: 878 (878 is average)
- Complaint rating: 1.25 (1.0 is average, lower is better)
- Financial strength: Rated A by AM Best
Along with the standard coverages you expect, Farmers offers a few that are less widely known. Its loss-of-use coverage pays for transit and ride-sharing services, as well as car rentals, when your vehicle is in the shop for covered repairs. Farmers’ Guaranteed Value coverage insures classic and collector cars at higher amounts than standard car insurance does.
Farmers has an average rating for claims satisfaction from J.D. Power. Its overall satisfaction is below average. Its complaint rating indicates that it had 25% more substantiated complaints than average for its size.
American Family
- Average rate: $1,920 a year ($160 a month)
- Overall satisfaction rating: 828 (820 is average)
- Claims satisfaction rating: 882 (878 is average)
- Complaint rating: 0.3 (1.0 is average, lower is better)
- Financial strength: Rated A by AM Best
Even though American Family only offers car insurance in 19 states, it still cracks the top 10 for size. Strong customer service ratings help explain its popularity in the areas where it is available. American Family also offers a pay-per-mile program that helps you save money if you don’t drive very much.
American Family beats industry averages in J.D. Power’s rankings for claims satisfaction and overall satisfaction. It also has the best complaint rating among the 10 largest car insurance companies.
Travelers
- Average rate: $1,919 a year ($160 a month)
- Overall satisfaction rating: 806 (820 is average)
- Claims satisfaction rating: 871 (878 is average)
- Complaint rating: 0.4 (1.0 is average, lower is better)
- Financial strength: Rated A++ by AM Best
Like most insurance companies, Travelers offers generous discounts for bundling your home and auto insurance, and young drivers get a discount for maintaining good grades. The company also offers a discount for driving an electric or hybrid vehicle. Its new car replacement coverage lasts five years, not just one or two.
In 2023, Travelers had less than half as many substantiated complaints as average for its size. Unfortunately, Travelers has below average ratings for claims satisfaction and overall satisfaction.
Nationwide
- Average rate: $2,226 a year ($186 a month)
- Overall satisfaction rating: 806 (820 is average)
- Claims satisfaction rating: 875 (878 is average)
- Complaint rating: 0.46 (1.0 is average, lower is better)
- Financial strength: Rated A by AM Best
Nationwide’s vanishing deductible can reduce your out-of-pocket expenses if you avoid claims. If you do get into an accident, its accident forgiveness protects you from a rate increase after your first one. Nationwide also offers gap insurance. Its pay-per-mile option is a good option if you don’t drive very much.
Nationwide’s claims satisfaction and overall satisfaction are below industry averages. However, it has a strong complaint rating. According to NAIC, Nationwide had less than half the average number of substantiated complaints for its size.
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What is the largest car insurance company in my state?
State Farm is the largest car insurance company in 29 states. Progressive is largest in 10 states, while Geico leads in nine states and the District of Columbia. Allstate is the top auto insurer in just one state, North Carolina.
Largest insurance companies by state
| State | Largest car insurance company |
|---|---|
| Alabama | State Farm |
| Alaska | State Farm |
| Arizona | Geico |
| Arkansas | State Farm |
| California | State Farm |
| Colorado | State Farm |
| Connecticut | Geico |
| Delaware | State Farm |
| District of Columbia | Geico |
| Florida | Geico |
| Georgia | State Farm |
| Hawaii | Geico |
| Idaho | State Farm |
| Illinois | State Farm |
| Indiana | State Farm |
| Iowa | Progressive |
| Kansas | State Farm |
| Kentucky | State Farm |
| Louisiana | State Farm |
| Maine | Progressive |
| Maryland | Geico |
| Massachusetts | Mapfre |
| Michigan | Progressive |
| Minnesota | State Farm |
| Mississippi | State Farm |
| Missouri | State Farm |
| Montana | State Farm |
| Nebraska | State Farm |
| Nevada | Geico |
| New Hampshire | Progressive |
| New Jersey | Geico |
| New Mexico | State Farm |
| New York | Geico |
| North Carolina | Allstate |
| North Dakota | Progressive |
| Ohio | Progressive |
| Oklahoma | State Farm |
| Oregon | State Farm |
| Pennsylvania | State Farm |
| Rhode Island | Progressive |
| South Carolina | State Farm |
| South Dakota | State Farm |
| Tennessee | State Farm |
| Texas | Progressive |
| Utah | State Farm |
| Vermont | Progressive |
| Virginia | Geico |
| Washington | State Farm |
| West Virginia | State Farm |
| Wisconsin | Progressive |
| Wyoming | State Farm |
Pros and cons of large car insurance companies
Large insurance companies tend to have more customer service and technological resources than their smaller competitors.
This usually makes it easier to shop, manage your policy and file a claim with a large company. It doesn’t always translate into lower rates, though.
Depending on your driving record, ZIP code, age and other rate factors, a small or midsize company may offer you a lower rate than a large company.
Size is also not the only factor that determines a company’s ability to provide quality customer service.
In J.D. Power’s 2023 claims satisfaction rankings, midsize car insurance companies occupy four of the top five positions. The highest rated company, Amica Mutual, ranks 22nd for size.
These are the main reasons to compare car insurance quotes from companies of all sizes when you shop.
| Company | Claims satisfaction rating (1,000-point scale) | Ranking by size |
|---|---|---|
| Amica | 909 | 22 |
| Erie | 902 | 12 |
| NJM | 900 | 27 |
| USAA* | 900 | 5 |
| Country Financial | 894 | 23 |
| State Farm | 891 | 1 |
| Auto Club Southern California | 889 | 11 |
| Auto-Owners | 888 | 13 |
| Allstate | 882 | 4 |
| American Family | 882 | 8 |
| Safeco | 880 | Not ranked |
| Shelter | 879 | 25 |
| Farmers | 878 | 7 |
| Industry average | 878 | |
| The Hartford | 877 | 18 |
| Nationwide | 875 | 10 |
| CSAA | 874 | 14 |
| Geico | 871 | 3 |
| Travelers | 871 | 9 |
| Progressive | 870 | 2 |
| Liberty Mutual | 866 | 6 |
Source: J.D. Power 2022 U.S. Auto Claims Satisfaction Study
Do major car insurance companies use the same agents?
Major car insurance companies do not all use the same insurance agents. Slightly more than half have captive agents, who only represent their own company. The rest work with independent agents, who can quote and sell policies from multiple companies.
State Farm and Allstate are among the largest captive car insurance companies. You can only get a quote from one of their exclusive agents. You usually get paired with one when you request a quote online or by phone.
Companies that work with independent agents also make it easy to get quotes and find a nearby agent by phone or online. Although independent agents can quote policies from a few different companies, they can’t provide quotes from a captive company such as State Farm.
Captive vs. independent insurance agents
| Agent type | Pros | Cons |
|---|---|---|
| Captive | Has thorough knowledge of their company’s coverages and discounts. | You have to contact captive agents separately to compare each company’s quotes. |
| Independent | Can compare quotes from multiple companies for you. | Can’t get quotes from companies with captive agents. |
Of the top 10 largest car insurance companies, these companies have captive agents:
- Allstate
- American Family
- Farmers
- Geico
- State Farm
- USAA*
Most captive companies require their agents to have offices in the communities they serve. The exceptions are Geico and USAA, which largely rely on phone and online services.
These major auto insurance companies work with independent agents:
- Liberty Mutual
- Nationwide
- Progressive
- Travelers
Progressive also makes it easy to buy car insurance directly from its website, without an agent.
Methodology
Auto insurance company rankings are based on total U.S. premiums written, or amounts billed, in 2023, according to the NAIC.
Overall satisfaction ratings are from the J.D. Power 2023 U.S. Auto Insurance Study. Claims ratings are from the J.D. Power 2023 U.S. Auto Claims Satisfaction Study.
Complaint ratings are based on the NAIC’s Complaint Index, which tracks confirmed, or substantiated, complaints. A 2.0 rating means a company has twice as many confirmed complaints as expected for its size. A 0.5 rating means it has half as many.
LendingTree obtains rates from Quadrant Information Services using publicly sourced insurance company filings. Rates are based on an analysis of hundreds of thousands of car insurance quotes for a typical driver. Your own rates may be different.
Unless otherwise noted, quotes are for a full-coverage policy for a 30-year-old man with good credit and a clean driving record. He drives a 2015 Honda Civic EX.
Full-coverage policies include:
- Bodily injury liability: $50,000 per person, $100,000 per accident
- Property damage liability: $25,000
- Uninsured motorist: $50,000 per person, $100,000 per accident
- Personal injury protection: Minimum limits where required
- Collision: $500 deductible
- Comprehensive: $500 deductible
Liberty Mutual’s rates are not available through Quadrant.
*USAA is only available to current and former members of the military and their families.
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On this page
- Largest U.S. auto insurance companies
- Cheapest large auto insurance companies
- Largest car insurance companies at a glance
- Largest car insurance companies by state
- Pros and cons of large insurance companies
- Finding agents for major car insurance companies
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