Largest Auto Insurance Companies

By far the largest auto insurance company in the US is State Farm and it has been this way for over 50 years, it currently has an 18% market share and nearly 30 million premiums written. State farm provides not only auto insurance, but many others too, such as homeowners insurance, health and disability insurance, life insurance and business insurance. Whatever type of insurance you choose, there are many different plans you are able to follow. State farm was founded in 1922 and became the largest car insurer in 1942 and so has had a lot of experience in providing insurance perhaps unlike some other insurers, it is also very slightly cheaper than other insurers, making it increasingly popular yet some people have complained about being overcharged by State Farm.

Probably the next largest company for auto insurance is Allstate Corporation; Allstate was founded in 1931, a few years after State Farm and has an 11.1% market share with 18.2 million direct premiums. It is well known for its common slogan `You`re in good hands`. Allstate offers many types of insurance, including: auto insurance, property insurance, life insurance and business insurance, it has a large advertising campaign, unlike State Farm so much and is known for being generally more expensive even if it may be a better insurer.

The next largest insurer in America is called `Progressive`, Progressive currently has a 7.3% market share with 12 million direct premiums written, it was founded in 1937, a little bit later than Allstate and State Farm. It doesn`t offer as many types of insurance as the previous two but it does offer vehicle insurance; including auto, boat, motorcycle and RV insurance which the other insurers do not have. Progressive tries to offer its services through the internet and phone and was the first major insurer in America to offer auto policies through the phone.

Lastly, the next most popular insurer in the USA is `National Indemnity Corporation` or `Berkshire Hathaway`, which owns `GEICO`. GEICO has a 6.7% market share and roughly 11 million direct premiums, it was founded in 1936, roughly the same time as Progressive. It offers its customers vehicle insurance; like `Progressive` this is split into auto, motorcycle, ATV, boat and RV insurance which is an advantage to State Farm and Allstate. GEICO has a fairly large advertising campaign like Allstate, but is also much more expensive in the long run when compared with State Farm.