The 50 Largest Automobile Insurance Providers in the USA

Automobile Insurance Providers Switching car insurance companies are becoming more popular as drivers seek better deals in the face of rising inflation.

According to J.D. Power’s “Auto Insurance Loyalty Indicator & Shopping Trends” report, an estimated 11.4 percent of consumers surveyed said they compared car insurance quotes in the fourth quarter of 2021—and 3.5 percent said they switched companies.

According to J.D. Power, the primary reason for shopping and switching is to find the best value, as insurance premiums have increased and many drivers have reduced their driving.

Automobile Insurance Providers in USA

That rate of company switching indicates a continued return to pre-Covid-19 patterns. At the start of the pandemic, there was a significant increase in auto insurance shopping activity: 45 percent of auto insurance consumers sought new quotes, reduced coverage, switched companies, or even canceled their policies. (Automobile Insurance Providers)

According to J.D. Power’s report, higher rates are particularly compelling for people with poor credit to switch insurance companies. In the fourth quarter of 2021, an estimated 6.2 percent of people surveyed with poor credit switched insurers. In comparison, only 2.8 percent of those with good credit have good credit. Increases in car insurance rates as a result of poor credit can be significant.

Another finding in the report is that cost-conscious consumers with fair or poor credit who are shopping for car insurance are frequently more interested in usage-based insurance policies than drivers with better credit. Usage-based insurance policies are designed for extremely safe drivers and base premiums in part on how well you drive. (Automobile Insurance Providers)

Insurance Car Company in USA

J.D. Power also conducts quarterly surveys of consumer loyalty to automobile insurance companies. These companies increased consumer loyalty in Q4 2021 when compared to the previous quarter:

• NJM
• Amica
• USAA
• Erie
• The Hanover

And these auto insurers saw a decrease in customer loyalty: (Automobile Insurance Providers)

• National General
• Kemper
• Progressive
• COUNTRY Financial
• Geico

Best Online Car Insurance Company in USA

Additionally, J.D. Power discovered that Geico was the auto insurance company that provided the most quotes in the majority of regions during that quarter. In the fourth quarter, the leading providers of car insurance quotes by region were:

• South: Geico
• West: Geico
• Midwest: State Farm
• Northeast: Geico

Apart from price, another factor that may influence a customer’s decision to stay with a car insurance company is their satisfaction with the insurer’s handling of an insurance claim. According to J.D. Power’s 2021 United States Auto Claims Satisfaction Study, Hartford ranks highest in overall claim satisfaction, followed by Erie Insurance and the Auto Club of Southern California Insurance Group.

The Industry’s Largest Automobile Insurance Companies

How large is your auto insurance company? The chart below illustrates how the largest insurers compare in terms of private passenger auto insurance market share.

Automobile Insurance Industry

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Biggest Car Insurance Companies