Best Auto Insurance Company: Top Provider For Your Vehicle

The number one auto insurance company depends on what you're looking for. USAA is rated the best overall by U.S. News, but its policies are only available to current and former members of the military and their families. State Farm is the largest auto insurance company in the U.S. by market share, while Progressive, Geico, and Allstate are the next three. Geico is the cheapest auto insurance company for drivers with poor credit. Erie Insurance has the best customer satisfaction ratings from J.D. Power. Progressive is a good option for high-risk drivers. Auto-Owners is a good option for those on a budget.

Customer satisfaction

USAA is a highly-rated auto insurance company in terms of customer satisfaction. However, it's important to note that USAA policies are only available to current and former members of the military and their families. USAA also ranks highly for its claims handling and customer service.

Auto-Owners is another auto insurance company that consistently receives high ratings for customer satisfaction. In addition to customer satisfaction, Auto-Owners also ranks highly for customer loyalty, claims handling, and customer service. It's worth noting that Auto-Owners insurance is only available in 26 states.

Other auto insurance companies that are often mentioned for their customer satisfaction include Nationwide, Erie, and Amica. These companies offer a range of coverage options and discounts, and are known for their responsive customer service and claims handling.

When choosing an auto insurance company, it's essential to consider your specific needs and compare quotes from multiple providers to find the best fit for your requirements and budget.

Discounts

• Good Driver Discount: This discount is offered to drivers who have a clean driving record and no history of accidents or traffic violations.
• Safe Driver Discount: Similar to the good driver discount, this discount is given to drivers who demonstrate safe driving habits, such as obeying speed limits and not engaging in risky behaviours.
• Multi-Policy Discount: If you bundle your auto insurance with other types of insurance, such as home or life insurance, you may be eligible for a discount.
• Multi-Vehicle Discount: Insuring multiple vehicles with the same company can often result in a discount.
• Good Student Discount: Students who maintain a certain grade point average or make the honour roll may be eligible for a discount on their auto insurance.
• Defensive Driver Training Discount: Completing an approved defensive driving course can result in a discount on your auto insurance.
• New Vehicle Discount: Insuring a new vehicle may qualify you for a discount, as newer vehicles tend to have more safety features and are less likely to break down.
• Anti-Theft Devices Discount: Installing an approved anti-theft device in your vehicle can lower your insurance rates.
• Loyal Member Discount: Staying with the same insurance company for an extended period can often result in a discount or loyalty reward.

It's important to note that the availability and eligibility requirements for discounts may vary depending on the insurance company and your location. Be sure to review the specific discounts offered by your insurance provider and inquire about any additional ways to save on your premium.

Financial strength

State Farm, the largest auto insurance company in the US, boasts an impressive financial strength rating. As a mutual insurance company, State Farm is owned by its customers, and it has a strong financial standing with significant assets.

Progressive, the second-largest insurer, offers competitive rates and a range of discounts. However, its financial strength is slightly lower than State Farm, and customers have expressed dissatisfaction with the claims process.

Geico, the third-largest company, is known for its affordable rates, especially for drivers with poor credit. Geico has a solid financial backing, ensuring its ability to honour claims.

Allstate, the fourth-largest insurer, provides good customer service and features like vanishing deductibles. However, its financial strength may vary, and its rates can be expensive for certain driver profiles.

USAA, while only available to military members and their families, offers excellent financial strength and some of the lowest rates in the industry. Their strong financial position is a key reason for their high customer satisfaction.

Liberty Mutual, Farmers, American Family, Travelers, and Nationwide round out the list of the ten largest auto insurance companies in the US. Each company has its own financial strengths and weaknesses, with some excelling in certain areas, like customer service or specific discounts, while falling short in others.

When assessing the financial strength of an auto insurance company, it's essential to consider ratings from independent agencies, customer feedback, and the company's overall financial health and stability. This information can provide valuable insights into their ability to honour claims and provide reliable coverage.

Affordability

• USAA: USAA is the cheapest insurer for liability-only coverage and has a lower-than-average full coverage premium. However, USAA is only available to active military, veterans and their families.
• Auto-Owners: Auto-Owners offers affordable premiums with high customer satisfaction ratings. It is one of the least expensive options for liability insurance and has a low NAIC complaint index score.
• Geico: Geico has some of the lowest rates for both liability-only and comprehensive coverage. It also has a long list of potential discounts and the lowest average rate for full coverage insurance.
• Travelers: Travelers offers affordable rates that are nearly half the national average. It also provides several uncommon discounts, including for homeowners, new cars and electric vehicles.
• American Family: American Family has decent rates that can be made even more affordable if you qualify for some of the available discounts. It also offers a discount for having a clean driving record.
• Nationwide: Nationwide has solid products that are competitively priced. It also offers a pay-per-mile insurance program for low-mileage drivers.
• Progressive: Progressive has lower-than-average rates for customers with marks on their record. It also offers three tiers of accident forgiveness.

Ease of use

The best auto insurance companies offer user-friendly websites and mobile apps that make it easy to get a quote, file a claim, and manage your policy.

When it comes to ease of use, Geico is a standout. The company offers a robust website and mobile app that make it easy to manage your policy online. Geico also offers two ways to get accident forgiveness, and a host of car insurance discounts that drivers may be eligible for.

State Farm is another top choice for ease of use. The company offers a mobile app that allows you to file a claim, contact your agent, and manage your policy. State Farm also offers numerous discounts and extras, including travel expense coverage.

If you're looking for a company with a strong digital presence and a wide range of coverage options, Travelers is a good choice. The company offers a broad range of coverage options and discounts, and it received fewer customer complaints than expected for auto insurance.

For those who prefer to work with a local agent, Nationwide is a good option. The company offers a national network of independent agents, as well as a variety of coverage options and discounts.

USAA is also worth considering for ease of use. The company offers a telematics program called SafePilot, and it provides coverage in all 50 states. However, USAA is only available to active-duty military, veterans, and their eligible family members.

When choosing an auto insurance company, it's important to consider your own needs and preferences. Be sure to compare quotes and read reviews from other customers to find the company that's right for you.

Frequently asked questions