You might think America’s best car insurance companies are the ones with the most coverage at the lowest premium rates. This may be true, but it doesn’t tell the whole story. There’s also the issue of reputation. A well reputed auto insurance company is one that has very few complaints against it.
According to consumeraffairs.com, the top ten most reviewed auto insurance companies (with a five-star rating being the highest) are Geico (2,805 reviews, 3 stars), State Farm (2,539 reviews, 1.75 stars), Progressive (2,314 reviews, 2.9 stars), Allstate (1,375 reviews, 1.2 stars), USAA (1,030 reviews, 1.5 stars), Esurance (711 reviews, 1.1 stars), Nationwide (700 reviews, 3.1 stars), AAA (642 reviews, 3 stars), Liberty Mutual (636 reviews, 2.9 stars), and The Hartford (416 reviews, 1.9 stars).
These low-to-mediocre star ratings based on so many reviews do not speak well for some of our nation’s biggest auto insurance companies. It would seem that owning a sizable share of the market does not guarantee customer satisfaction.
Meanwhile, another website states that the top ten auto insurance companies in terms of customer satisfaction are AAA, USAA, State Farm, Erie, The Hartford, Progressive, The General, Geico, Nationwide, and Met Life, in that order.
According to Consumer Reports, the top two car insurance carriers are USAA and Amica, with State Farm, Mercury, and Geico landing somewhere in the middle of the pack, while Allstate, Met Life, and Liberty Mutual are among the lowest rated.
Despite the differences of opinion, it seems that a 3-star consumer rating is about as good as it gets for most car insurance companies. No insurance carrier is perfect, but one thing’s for sure: There are certainly enough of them to choose from.
Anyone can go online and read consumer reviews about insurance companies to learn about their premium rates, the quality of their customer service, and what really happens to policyholders who are involved in auto accidents. But you can spare yourself the trouble, as we’ve already done the work for you.
Click on any link from the list below to read all about each particular auto insurance company. This will help you choose the carrier that’s best for you.
Launched in Silicon Valley back in 1999, Esurance is a customizable, do-it-yourself provider of vehicle, homeowners, and renters insurance, as well as life, health, pet, and business insurance, among others. Esurance competes with other digital-age insurance companies such as Geico and Progressive. A subsidiary of Allstate, Esurance sells car insurance directly to consumers online and by phone. Its services are offered in at least 40 U.S. States. The company’s official website welcomes about a million unique visitors each month.
GEICO, an acronym for Government Employees Insurance Company, is the third largest auto insurance company in the United States, behind only State Farm and Allstate. This may be due to the fact that GEICO spends about a billion dollars a year in advertising. Who can forget that snappy Gecko, or those disillusioned cavemen in a fancy restaurant? The campaign paid off, as GEICO now has about eleven million policyholders, and holds about eight percent of the total market share. Underwriters at GEICO wrote well over 15 million dollars in premiums in 2013.
State Farm is a major United States financial services company founded in 1922 by George Mecherle, and headquartered in Bloomington, Illinois. Today, the company has operations in the United States and Canada, and specializes in automobile insurance. State Farm Mutual Automobile Insurance Company is the parent company of all of its subsidiaries. These include State Farm Fire and Casualty Company, State Farm Life Insurance Company, State Farm Life and Accident Assurance Company, and dozens more.
Liberty Mutual is a Boston-based insurance company established in 1912. Today, the company supports more than 50,000 employees in more than 900 offices worldwide. Liberty Mutual operates in Argentina, Brazil, Chile, China, Colombia, Ecuador, India, Ireland, Poland, Portugal, Russia, Singapore, Spain, Thailand, Turkey, UK, Venezuela and Vietnam, not to mention the United States. In 2008, Liberty Mutual purchased the Safeco Corporation.
Nationwide Mutual Insurance Company is one of America’s largest insurance carriers, offering a full range of insurance and financial services. The company is based in Columbus Ohio, with regional headquarters in Des Moines Iowa, San Antonio Texas, Gainesville Florida, Lynchburg Virginia, Raleigh North Carolina, and Westerville Ohio.
The Travelers Companies is the legal name of an American insurance company, known more familiarly as Travelers Insurance. Travelers has its headquarters in New York City, and is incorporated in St. Paul, Minnesota. The company’s largest office is located in Hartford, Connecticut, where Travelers was founded in 1864, long before anyone ever heard of an automobile. The company’s initial focus was on travel insurance for railroad passengers (not to mention wagon train riders) in danger of being overtaken by Indians. Eventually, Travelers became one of the first insurance companies to offer policies on automobiles.
The Progressive Corporation has exemplified progress since its founding in 1937. Still headquartered in Mayfield Village, Ohio, Progressive is now one of the largest vehicle insurance companies in the United States, while also maintaining auto insurance operations in Australia. The company supports approximately 30,000 employees.
The Allstate Corporation, established by Sears Roebuck and Company in 1931, is headquartered in Northfield Township, Illinois, and also has offices in Canada.