The most trusted car insurance company in U.S: According to some estimates, over 500 companies offer car insurance in the U.S. However, despite the extensive market, the majority of car insurance policies are provided by a select few companies. In fact, the top eight companies alone account for nearly 73% of car insurance sales, measured by premium.
While exploring insurance options, it’s advisable to consider both smaller, lesser-known companies and larger, well-established brands. While smaller companies may offer competitive rates and quality service, it’s also worthwhile to evaluate offerings from major insurers. Below, you’ll find our assessments of the eight largest car insurance companies in the U.S. for 2024.
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Best for cheap insurance (non-military): Liberty Mutual
Liberty Mutual Auto Insurance
Monthly premium:$90
AM Rating:A
JD Power Customer Satisfaction:870 (11)
NAIC Complaint Index:2.46
pros:
- Offers the most affordable car insurance in our evaluation.
- Provides a diverse array of discounts, including UBI (Usage-Based Insurance).
- Option to purchase policies online or through an agent.
Cons:
- Higher-than-average consumer complaints, according to NAIC.
Excluding USAA, which is exclusive to certain individuals, Liberty Mutual provides the most budget-friendly car insurance coverage in our assessment. Liberty Mutual extends various discounts to further reduce costs, such as rewards for maintaining a clean driving record, holding multiple policies with Liberty Mutual, homeownership, military membership, academic excellence, and online policy purchases.
Additionally, Liberty Mutual offers RightTrack, a Usage-Based Insurance (UBI) program promising potential savings of up to 30%.
Although the company ranked 11th in J.D. Power’s customer satisfaction survey, it has received a higher-than-average number of complaints according to the NAIC.
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Best for younger drivers: State Farm
State Farm Car Insurance
Monthly premium: $107
AM Rating: A++
JD Power Customer Satisfaction: 882 (7)
NAIC Complaint Index: 0.70
Pros:
- Extensive array of discounts available.
- Highly rated by J.D. Power.
- A.M. Best’s A++ rating provides reassurance of financial robustness.
cons:
- Sold only by in-person agents.
State Farm stands as the largest auto insurance provider and a prominent name across the United States. It boasts an extensive array of car insurance discounts, encompassing benefits for holding multiple policies, maintaining an accident-free record, completing defensive driving courses, and equipping vehicles with specific safety features. Moreover, State Farm offers Drive Safe and Save, a usage-based insurance initiative promising up to a 30% discount for demonstrating safe driving behaviors.
An additional highlight is State Farm’s Steer Clear program, tailored for drivers under 25 years old. This app-based program aims to cultivate safe driving habits among newer drivers while providing supplementary discounts.
Best for online shopping experience: Progressive
Progressive Car Insurance
Monthly premium:$128
AM Rating:A++
JD Power Customer Satisfaction:861 (16)
NAIC Complaint Index:0.83
pros:
- Available for purchase online or through over 35,000 independent insurance agents.
- Jointly ranked first in J.D. Power’s customer satisfaction ratings for UBI programs.
cons:
- Ranked low in J.D. Power’s overall customer satisfaction survey.
- One of the pricier companies in our review.
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In the 1990s, Progressive emerged as one of the trailblazers in the insurance industry by introducing online policy quotes and sales. Presently, the company maintains its commitment to facilitating online purchases through user-friendly tools. Among these is the innovative Name Your Price feature, enabling customers to explore optimal coverage combinations aligned with their budgetary constraints.
Progressive also spearheaded the adoption of usage-based insurance (UBI) with its Snapshot program. By enrolling in Snapshot, policyholders typically receive initial discounts averaging $94, with potential savings escalating to $231 by the conclusion of the six-month monitoring period. Notably, Progressive’s Snapshot program distinguishes itself by terminating monitoring after six months, granting customers continued discounts without ongoing scrutiny of their driving habits.
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Best for discounts: GEICO
GEICO Car Insurance
Monthly premium:$104
AM Rating:A++
JD Power Customer Satisfaction:874 (9)
NAIC Complaint Index:0.62
pros:
- Offers a broad spectrum of discounts, including those for affiliations.
- Receives fewer customer complaints compared to the average.
cons:
- Does not advertise potential savings for its UBI program.
GEICO presents a broad spectrum of discounts to its customers, encompassing conventional incentives such as those for maintaining a clean driving record, academic achievements, multi-policy bundling, multi-vehicle coverage, and equipping vehicles with specific safety features. Additionally, GEICO extends discounts to military personnel and individuals associated with various professional and academic organizations.
In terms of customer satisfaction, GEICO occupies the ninth position—approximately in the middle—according to J.D. Power’s assessment. While its rating of C- from Crash Network falls below that of some competitors, GEICO registers fewer customer complaints than the industry average, as reported by the National Association of Insurance Commissioners (NAIC).
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Best for low-mileage drivers: Allstate
AllState Car Insurance
Monthly premium:$178
AM Rating:A++
JD Power Customer Satisfaction:889 (5)
NAIC Complaint Index:0.96
pros:
- Provides multiple savings options tailored for low mileage drivers.
- Holds an A.M. Best A++ rating, indicating strong financial stability.
cons:
- Identified as the priciest provider in our evaluation.
- The pay-as-you-go program is not universally accessible across all states at present.
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While Allstate stands out as the priciest insurer in our evaluation, it offers an extensive array of discounts akin to other major insurance providers to facilitate cost savings. Positioned fifth in J.D. Power’s customer satisfaction analysis, Allstate also boasts a complaint rate lower than the industry norm, as per the NAIC.
Allstate earns recognition as an ideal choice for drivers with minimal mileage. Its Drivewise usage-based insurance (UBI) initiative enables customers to economize if they drive fewer miles than the average. Moreover, individuals who substantially limit their driving—such as retirees, urban residents reliant on public transit, or remote workers—can explore the Milewise program. This innovative program operates on a genuine “pay as you go” model, where policyholders pay a daily flat fee in addition to a per-mile rate.
Best for U.S. military and their families: USAA
USAA Car Insurance
Monthly premium:$85
AM Rating:A++
JD Power Customer Satisfaction:890 (N/A)
NAIC Complaint Index:0.85
pros:
- Recognized as the most affordable car insurance option in our analysis.
- The A.M. Best A++ rating offers assurance of strong financial stability.
cons:
- Exclusive to members of the U.S. military and their families.
- Sold solely via phone; no online or agent-driven sales options available.
USAA Insurance caters exclusively to members of the U.S. military and their families, offering a range of discounts and features akin to those provided by other insurers. Notably, USAA extends various discounts aimed at aiding and saving individuals serving the nation, including discounts for storing a vehicle on a military base, vehicle storage during overseas deployment, and membership legacy benefits.
Renowned for its exceptional customer service, USAA consistently garners accolades. Its remarkable score of 890 in J.D. Power’s 2022 U.S. Auto Insurance Customer Satisfaction Study underscores its status as a service leader. While J.D. Power assesses USAA, it refrains from officially ranking the company due to its exclusive customer base.
Best for newer cars: Farmers
Farmers Car Insurance
Monthly premium:$173
AM Rating:A
JD Power Customer Satisfaction:882 (6)
NAIC Complaint Index:1.13
pros:
- Provides rideshare coverage.
- Features usage-based insurance (UBI) program named Signal.
cons:
- Ranked as the second-most expensive company in our survey.
- Reports a higher-than-average number of consumer complaints, according to NAIC.
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Farmers holds a respectable position in J.D. Power’s 2022 U.S. Auto Insurance Customer Satisfaction Survey, placing in the upper tier. However, it stands as the second-costliest insurer in our evaluation and offers only a limited array of discounts. These discounts encompass multi-policy and safe driving incentives, alongside its usage-based insurance program titled Signal.
Moreover, Farmers provides a unique offering: new car replacement coverage. In the event of your vehicle being deemed a total loss due to damage or theft, Farmers pledges to replace it with a brand-new vehicle of identical make and model. This option extends to cars up to two model years old with fewer than 24,000 miles.
Additionally, Farmers assures coverage for original equipment manufacturer (OEM) parts in the repair of repairable new cars, enhancing customer peace of mind.
Best for hybrid/EV drivers: Travelers
Travelers Car Insurance
Monthly premium:$113
AM Rating:A++
JD Power Customer Satisfaction:854 (17)
NAIC Complaint Index:0.49
pros:
- Offers affordable insurance for EVs and hybrids.
- Maintains an A++ rating from A.M. Best, ensuring financial strength.
cons:
- Ranked lowest in J.D. Power’s customer satisfaction survey.
- Limited availability of Intellidrive UBI program, offered only in select states.
Travelers, ranking as the eighth-largest car insurance provider in the U.S., stands out for its innovative approach to insuring electric vehicles (EVs) and hybrids. Recent research reveals that Travelers offers coverage for EVs at a remarkable 36% lower cost compared to the industry average, making it a cost-effective option for EV owners. Notably, Travelers is also distinguished as the sole insurer offering a dedicated discount tailored specifically for EVs and hybrids.
Beyond its specialization in EV coverage, Travelers extends a diverse array of discounts to all policyholders. These incentives encompass multi-policy discounts, multi-vehicle discounts, continuous coverage discounts, full payment discounts, and early quote discounts, ensuring potential savings for a wide range of drivers.
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