State Farm is the most popular insurance company nationwide, and it also is the most popular company in 19 states. Progressive is the largest insurance company in 21 states, including many New England states, some states in the Midwest, Florida and Texas.
Benefits of big vs. small insurance companies
You can find cheap rates at both big car insurance companies and smaller local ones.
Large companies are normally more stable financially, are available in more places and often have more online and mobile options for their users. On the other hand, small companies often have a better customer experience with more one-on-one service, as they can have a more personal relationship with their customers.
Pros and cons of a big insurance company
- Wider variety of coverage options and discounts
- More access to a claims line any time
- More likely to be stable after a large scale disaster
- Better online and mobile experience
- Less personal touch and interaction
- Often won’t have the absolute lowest rates
- Can be slower to address complaints
Pros and cons of a small insurance company
- More personalized experience
- Will likely work closely with an agent
- Can have wide price ranges, so you can potentially save money
- Sometimes won’t have 24/7 service
- Often more vulnerable to regional disasters
- Can have fewer options for benefits and discounts
How to find the right insurance company for you
There are many large auto insurance companies out there, so you’ll want to shop around to make sure you’re picking the best company for your unique situation. Always compare quotes from multiple companies to find the cheapest company that meets your needs.
The type of auto insurance policy you choose — whether minimum or full coverage — will affect your quote. So it helps to have a general idea of which coverages you’d like before getting one.
- Liability-only car insurance gives you the minimum auto insurance required by your state. These policies are cheap, but they usually don’t pay for all of the costs after an accident.
- Full-coverage car insurance is the best policy for most drivers who have a car worth more than $5,000. Full-coverage car insurance adds comprehensive and collision coverage to your policy to pay for damage to your car.
What are the top 3 insurance industry in the US?
The largest P&C insurers in the United States
| Ranking | P/C insurance company name | % change from previous year |
|---|---|---|
| 1 | State Farm Group | 11.6 |
| 2 | Berkshire Hathaway Ins | -2.1 |
| 3 | Progressive Ins Group | 9.6 |
| 4 | Allstate Ins Group | 10 |
