Top Ten Insurance Companies in the United States

January 4, 2010 13 Comments »
Top Ten Insurance Companies in the United States

There are a number of companies, such as A.M. Best and Standard & Poor’s, which rate insurance providers on various financial strength aspects in order to help consumers make more informed decisions (insurance company ratings).

If you’re in the market for insurance, you should look for an organization that’s been around a while, with a proven ability to repay claims if you’re involved in an accident.

After all, it’s a lot more likely an insurer will pay your insurance claim if they’re still in business…

Each state also has a department of insurance that monitors the financial status of insurance companies and regulates their practices.


[Compare rates from the leading car insurance companies in your area.]

You’ll also want to consider customer service, which might not be reflected in the financial strength of an insurance company, along with price. There are plenty of solid insurance companies to choose from, so you certainly don’t need to overpay for a particular brand name.

When it comes down to it, no one will ask or care who you’re insured with, it’s definitely not something one shows off. I’ve never heard of a conspicuous insurance consumer. But it’s nice to know you’re insured with a reliable company.

All that said, here are the the top insurance companies in the United States by market share (not necessarily quality), according to the National Association of Insurance Commissioners (NAIC):

Top 10 Insurance Companies (All lines)

1. State Farm Insurance Group
2. Liberty Mutual Insurance Group (also owns Safeco)
3. Allstate Insurance Group (also owns Esurance)
4. Berkshire Hathaway Group (also owns Geico)
5. Progressive Insurance Group
6. Travelers Insurance Company
7. Chubb Limited Group
8. United Services Automobile Association (USAA)
9. Farmers Insurance Group (also owns 21st Century Insurance)
10. Nationwide Insurance Company

Those that just missed the cut include Hartford, Auto-Owners Insurance, Erie Insurance. After that, you probably won’t recognize many of the names.

Most of the top insurance companies listed above have maintained that real estate for a long time, and probably will always be in the top 10. However, there’s definitely been some shuffling over the past decade. This might coincide with marketing spend, not anything to do with quality of product.

American International Group (AIG) was in the top 10 before the financial crisis struck, and may return once they get their act together, but most haven’t departed the top rankings.

If we consider just auto insurance premiums written, here is how the top 10 is laid out:

Top 10 Insurance Companies (Auto only)

1. State Farm Insurance Group
2. Berkshire Hathaway Group (also owns Geico)
3. Progressive Insurance Group
4. Allstate Insurance Group (also owns Esurance)
5. United Services Automobile Association (USAA)
6. Liberty Mutual Insurance Group (also owns Safeco)
7. Farmers Insurance Group (also owns 21st Century Insurance)
8. Nationwide Insurance Company
9. Travelers Insurance Company
10. Erie Insurance Group

The auto insurance companies that just missed the cut include AAA Insurance, Auto-Owners Insurance, and Mercury Insurance.

*These lists are based on company filings from March 1st, 2018 and include the top ten insurance companies based on 2017 data from the National Association of Insurance Commissioners. Figures for 2018 aren’t available until the year ends.

Biggest Isn’t Always Best

By “top,” they mean the largest insurance companies, not necessarily the best insurance companies. Remember, bigger isn’t always better, and in many cases could mean more red tape and hassle when dealing with them.  And even a higher price!

After all, the fact that you’ve heard of all these companies means they’ve paid an awful lot of money to advertise to you, constantly. All that branding money needs to be recouped somewhere.

The companies that don’t spend billions per year on celebrity endorsements and Super Bowl commercials might actually offer you a better deal for the same basic coverage.

Keep in mind that insurance companies, much like other large corporations, don’t always specialize in just one thing. However, they do tend to stick to insurance and financial services.

The insurance companies listed above may offer a combination of property, casualty, life, and/or health insurance coverage, along with an array of financial products as well.  The first set of rankings are based on all lines of insurance, and the second set of rankings is for private passenger auto only.

The first group also happen to be some of the largest car insurers around, which is driving their rankings (no pun intended). But they may also offer things like life insurance, homeowners insurance, and health insurance that pad their numbers as well.

There are thousands of insurance companies out there to choose from; some focus on only one type of insurance or one specific region of the United States.  For those reasons, they may not be on this list, despite being really great companies.

For example, Mercury Insurance is one of the biggest auto insurance companies in California, but might be a relative unknown on the East Coast or the Midwest.

It’s certainly not necessary to purchase an insurance policy from one of the companies listed above to ensure you receive adequate coverage and service.

In fact, it’s recommended that you obtain insurance quotes online and consult with an independent insurance agent so you can compare all your options (even companies you’ve never heard of) to obtain the best possible price.

Related: Top 10 U.S. car insurance companies.

Looking for health insurance quotes?
Or homeowners insurance quotes?
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13 Comments

  1. julian (Jay) Papp December 11, 2013 at 9:16 am -

    If you searched “Best Insurance Companies” and ended up here, STOP! Now, do a search for the “Worst Insurance Companies” and you will see Allstate at the top of the list there. Allstate offered me 2,036.28 for smoke damage that was in the multi hundred thousands. After close to 4 years of fighting Allstate’s representatives agreed the damage was well over $60,000. We ended up loosing a small fortune because we insured with Allstate. What Allstate does GOOD is advertising and marketing, what they do BAD is to pay claims fairly and promptly. Sure, everyone knows someone with an Allstate claim, but they are small claims. Have a major multi hundred thousand dollar loss and Allstate puts on the Boxing Gloves and will beat you into the ground. Allstate is a public company that exists to pay its CEO multi millions and to keep its stock prices up.

  2. Patrick March 21, 2014 at 7:03 pm -

    How is Geico not on the list? They’re huge.

  3. Adam March 21, 2014 at 8:39 pm -

    The author makes it clear that top means largest, not best. If you rely on a list to get your insurance then you’ve got bigger problems. I use Mercury which is like 50% less than Allstate and the other big names.

  4. Rick Mikolasek March 22, 2014 at 9:47 am -

    They are, listed under their parent company Berkshire Hathaway.

  5. Spin May 13, 2014 at 10:30 pm -

    Surprised to see Liberty Mutual above Allstate and Geico, but apparently they own Safeco too so it’s two insurance companies for the price of one.

  6. James August 11, 2014 at 10:01 am -

    If you read this list and wonder why each name is listed. The insurance industry, These 10 companies, have compiled themselves into many different insurance companies. These are the players in the risk financing

  7. Nalini Reddy August 24, 2014 at 6:42 pm -

    I had Allstate insurance in 2006 and due to my husband’s bad health I had to be out of town for his health care, and left heated home in winter listed with realtor to sell. Due to subzero temperatures, plumbing pipe was frozen and burst on 2nd floor and destroyed the house with severe structural problem. Allstate hired some one and fixed covering up all the structural damage to my house. I also lost hundreds of thousand dollars. I tried to have them fix through hiring attorneys. For 7 years my attorneys were paid their bills with no results. I could not afford anymore. I am trying to fix every thing from my own pocket.
    With my masters in public health, I have an obligation to request the public stay away from Allstate please at any cost.
    Please search for better company. No one should go through the same depression and troubles as I had to go through. Stay away from Allstate please! Please! Please!

  8. Michael Friedman September 5, 2014 at 3:19 pm -

    State Farm has just raised my rates 20% four years in a row…
    My agent says rising costs…. I did goggle and note that the president of State Farm got a 1.7 million dollar bonus for record breaking profits… guess he is trying to out do himself…

  9. vic September 13, 2014 at 5:40 pm -

    ALLSTATE is the WORST insurance EVER! I own a body shop and none of my Allstate customers have ever been happy. They dont care that they are terrible because they make it up with all the commecrials they have. Using the money that was rightfully the customers.

  10. Ken October 9, 2014 at 11:30 am -

    I have had American Family for over twenty years and the past few they keep raising my home insurance by 30 to 80 dollars a year. And I have had my agent change three times. It’s ridiculous how they punish the people with no claims to line there pockets…

  11. Rick Mikolasek October 10, 2014 at 12:11 pm -

    Ken,

    Might be time to replace loyalty with shopping around…

  12. Joy February 28, 2017 at 2:46 pm -

    Allstate is the worst insurance I have ever had!!! I had a huge problem with a water leak in my house, destroying many of my personal item and my carpet. They would not pay and tried to tell me I had a flood from the outside in my house!! I had to argue with them over and over. We were going through a drought and even if it rains a lot, my house sits up high. I finally had to threaten them with court, and an impartial adjuster deemed it a water leak. They only would pay for carpet and none of my things. I dropped them immediately!!!! They were not a good insurance for me!!! I was NOT in good hands with ALLSTATE!!

  13. Person March 21, 2017 at 5:44 pm -

    My dad is an insurance agent for state Farm and it’s great.

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