TOP 10 largest insurance companies in the U.S. offer different insurance rates, customer claims experiences and features. While the biggest companies in the United States underwrite a large number of policies, they vary on price, service quality and many other characteristics.
US commercial auto insurance premiums increased year over year, according to Beinsure Data. The sector will see a combined ratio of 97-98% for 2024 vs. 96% in 2023.
The sector logged 2.3%, 5.6% and 3% year-over-year growth in commercial auto liability, commercial auto physical damage and total commercial auto premiums, respectively.
The biggest insurance companies in the U.S. often have more coverage options. If you want to customize your policy with endorsements or need specialty coverage like rideshare insurance, a large provider is more likely to have those policies.
State Farm is the #1 auto insurance company in the United States in terms of market share and premiums written in 2024, followed by Geico, Progressive and Allstate. When looking at the rankings of the top auto insurance companies in U.S., most of the names are recognizable.
TOP 10 U.S. Car Insurance Companies
| № | Company | Premiums written in billions |
| 1 | State Farm | $40.4 |
| 2 | Geico | $33.9 |
| 3 | Progressive | $33.2 |
| 4 | Allstate | $25.9 |
| 5 | USAA | $15.8 |
| 6 | Farmers | $12.2 |
| 7 | Liberty Mutual | $11.8 |
| 8 | Nationwide | $5.8 |
| 9 | American Family | $5.2 |
| 10 | Travelers | $4.9 |
To help you choose the best insurance company for you, compare the list of the 10 largest auto insurance companies in the U.S. and what makes each of them unique.
The table below highlights market share of S&P’s largest auto insurance companies in the U.S., along with information from J.D. Power’s U.S. Auto Claims Satisfaction Study, AM Best credit ratings and National Association of Insurance Commissioners’ complaint data.
| № | Company | Direct Premiums Written Share (%) |
| 1 | State Farm | 15.93% |
| 2 | Geico | 14.31% |
| 3 | Progressive | 13.71% |
| 4 | Allstate | 10.37% |
| 5 | USAA | 6.01% |
| 6 | Liberty Mutual | 4.88% |
| 7 | Farmers | 4.71% |
| 8 | Nationwide | 2.13% |
| 9 | American Family | 2.10% |
| 10 | Travelers | 2.04% |
Source: S&P Global
U.S. Car Insurers Ratings
| № | Company | AM Best Rating | NAIC Score | J.D. Power Score |
| 1 | State Farm | A++ | 4.73 | 3.11 |
| 2 | Geico | A++ | 3.89 | 3.07 |
| 3 | USAA | A++ | 4.38 | 5 |
| 4 | Travelers | A++ | 4.63 | 2.73 |
| 5 | Progressive | A+ | 4.45 | 2.96 |
| 6 | Allstate | A+ | 3.51 | 2.78 |
| 7 | Nationwide | A+ | 4.74 | 2.36 |
| 8 | Farmers | A | 4.1 | 2.49 |
| 9 | American Family | A | 5 | 3.3 |
The U.S. commercial lines insurance segments are being challenged by slower revenue growth, inflation-based claim uncertainty and less favorable loss reserve experience.
While commercial lines reported statutory underwriting profits in four of the last five years, net written premium (NWP) growth is likely to slow in 2023 to 6%–7% YoY, vs. 10% in 2022 and 15% in 2021.
U.S. Commercial Auto Insurance Premiums
Car insurance policies that major insurance companies underwrite tend to be less expensive. Because large insurers write millions of policies each year, they can afford to price their policies more competitively.
Additionally, the biggest insurance companies in the U.S. often have more coverage options. If you want to customize your policy with endorsements or need specialty coverage like rideshare insurance, a large provider is more likely to have those policies.
FAQ
State Farm holds the top spot as the largest auto insurance company in the U.S. by market share and premiums written, totaling $40.4 bn in 2024. It is followed by Geico, Progressive, and Allstate.
Rates vary significantly among the largest insurers. State Farm, Geico, Progressive, and Allstate all have unique pricing, influenced by factors like coverage options, customer demographics, and regional market conditions.
Bigger insurers, like State Farm and Progressive, often provide extensive coverage options, including specialized policies like rideshare insurance, due to their larger market presence and resources.
U.S. commercial auto insurance premiums increased year-over-year, with growth rates in 2024 for liability, physical damage, and total premiums at 2.3%, 5.6%, and 3%, respectively, according to Beinsure Data.
Leading insurers like State Farm, Geico, and USAA hold an A++ rating from AM Best, reflecting strong financial stability, while other top companies, like Allstate and Nationwide, are rated A+ or A.
Based on J.D. Power’s U.S. Auto Claims Satisfaction Study, USAA, Geico, and State Farm rank among the highest in customer satisfaction, although rankings can vary by region and customer expectations.
Complaint data from the National Association of Insurance Commissioners (NAIC) shows varied results, with State Farm, Geico, and USAA generally performing well, indicating efficient claims handling and customer service.
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Edited & Fact-checked by Oleg Parashchak – CEO Finance Media & Editor-in-Chief at Beinsure Media and Insurance TOP Ratings (23+ years of professional experience in Rankings, Insurance & Media).
