What are the Largest Auto Insurance Companies?

Here is a list of the leading auto insurance companies in the United States in terms of market share, premiums and assets. The five largest car insurance companies in the U.S. are State Farm, GEICO, Progressive, Allstate and USAA.

1. State Farm

State Farm, headquartered in Bloomington, Illinois, is the largest auto insurance company in the U.S. by market share and premiums written. One of every five cars is insured by State Farm. It is also the nation's largest property/casualty insurer, number one homeowners insurer as well as the leading small business and watercraft insurer. With about 60,000 employees, the company has over 44 million auto insurance policies in force. State Farm is a great place to work and is recognized as a top employer of military veterans. It has the highest possible rating of A++ from AM Best and ranks highest in customer satisfaction among auto insurance companies according to JD Power.

2. Progressive

The Progressive Corporation is one of the best car insurance companies in the United States with over 60,000 employees and 23 million auto policies in force (personal lines). It is the 2nd largest private passenger auto insurer as well as the largest commercial auto, commercial truck, motorcycle and specialty RV insurer. The company was established in 1937 and is headquartered in Mayfield Village, Ohio. Tricia Griffith is the president and chief executive officer (CEO) of the company.

3. GEICO

GEICO (Government Employees Insurance Company), based in Chevy Chase, Maryland, is the 3rd largest private passenger auto insurance company in America by market share and premiums written. With over 30,000 employees and 17 million auto policies in force, GEICO insures more than 28 million vehicles across every state. It has regional branches and service centers in Buffalo, Dallas, Fredericksburg, Lakeland, Macon, San Diego, Tucson, Arizona, Virginia Beach, Woodbury, Iowa City, Indianapolis, Kansas City and Honolulu. The company is one of the highest rated insurers in the industry and holds AA+/Aa1/A++ ratings from Standard & Poor's, Moody's and AM Best, respectively. GEICO is a wholly owned subsidiary of Berkshire Hathaway Inc.

4. Allstate Corp

Allstate Corporation, headquartered in Northbrook, Illinois, is the fourth largest auto insurance company in America in terms of market share and the largest publicly held provider of property/casualty insurance for personal lines. The company offers private passenger auto and homeowners insurance under Allstate, Encompass and Esurance brands. It also offers motorcycle, trailer, motor home, and off-road vehicle insurance policies as well as life insurance, annuities, and pension solutions. The company’s shares are listed on the New York Stock Exchange, with a market capitalization of $41 billion as of January 30, 2024.

5. USAA

United Services Automobile Association (USAA) is the fifth largest private passenger auto insurer with direct premiums written of about $20 billion. The company is headquartered in San Antonio, Texas and employs over 32,000 people. USAA's property and casualty insurance companies are rated A++ (Superior) by A.M. Best, AA+ (Very Strong) by Standard & Poor’s, and Aaa (Exceptional) by Moody's. United Services Automobile Association ranks among America's Best Employers according to Forbes. Only five percent of property & casualty companies earn A++ superior rating.

6. Liberty Mutual

Liberty Mutual Holding Company Inc (LMHC) offers private passenger automobile insurance, homeowners insurance, and other property-casualty products across the nation. With a market share of about 5% and 50,000 employees, it is one of the top 10 auto insurance companies in the United States as well as the third largest property/casualty insurer nationwide based on direct premiums written and total revenue. Established in 1912, LMHC is headquartered in Boston, Massachusetts and operates over 400 offices from coast to coast.

7. Farmers

Farmers Insurance Group, located in Woodland Hills, Los Angeles, California, is one of the nation's largest insurers of vehicles, homes and small businesses. The company has approximately 20 million individual policies, 50,000 independent agents and over 20,000 employees across 50 states. The Group’s units include Farmers Insurance, Foremost Insurance, Bristol West Insurance, 21st Century Insurance and Farmers Life. Raul Vargas is chief executive officer (CEO) of the Group.

8. American Family Insurance

American Family Insurance Group (AmFam) is the country’s eighth largest auto insurance company and the third-largest mutual insurer with insurance coverage in force of about $100 billion. AmFam specializes in personal and commercial property/casualty insurance. It also offers life, health and home insurance, farm and ranch insurance as well as retirement products. With over 11,000 employees, the company operates through independent agents in Wisconsin, Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Arizona, Kansas, Minnesota, Missouri, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Utah and Washington.

9. Travelers

The Travelers Companies Inc (NYSE: TRV) is one of oldest insurance companies in America with a history dating back to 1853. Today it is the ninth largest auto insurance provider in the United States based on market share and premiums written as well as the largest writer of workers compensation and commercial property insurance. The Travelers is one of the World's Most Admired Companies according to Fortune study. With over 29,500 employees and 14,000 agents and brokers, it offers a broad array of commercial and personal property/casualty products and services across the U.S., Canada, Brazil and the UK. The company is headquartered in New York with executive offices in Hartford, Connecticut and St. Paul, Minnesota.

10. Nationwide Mutual

Nationwide Mutual Insurance Company is the tenth largest personal auto insurer and one of the leading property/casualty insurers in the US. It provides a full range of insurance products and services including auto, motorcycle, snowmobile, ATV, recreational vehicle, boat, personal watercraft and scooter insurance. The company is headquartered in Columbus, Ohio with regional headquarters in Des Moines, San Antonio, Gainesville, Lynchburg, Raleigh and Westerville. Nationwide Mutual is rated A+/A2/A by Standard & Poor’s, Moody's and AM Best, respectively.

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Last updated February 17, 2025