Who is the biggest car insurance company?

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Tonya Sisler has a Bachelor’s Degree from the University of South Carolina in Journalism and has worked for 15+ years in management. She has also completed a proofreading certification and is currently...

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Brad Larson has been in the insurance industry for more than a dozen years. He started out as a claims adjuster for a national carrier. He has since switched to the agency side of the business...

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Reviewed byBrad Larsen
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UPDATED: Mar 13, 2020

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In a nutshell...
  • State Farm is a 100-year-old car insurance company
  • Geico is most famous for its Gecko commercials
  • All of the top companies offer both personal and commercial lines for coverage

The Gecko may be popular with almost a billion dollar advertising budget, and a lot of people like the Progressive girl, but neither of these companies can even come close to the market share held by the biggest car insurance company in America.

It doesn’t matter where you live, what you do, or what kind of car you drive, if you want to stay legal on the road, you need car insurance. But who is the best in the nation?

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Who is the biggest car insurance company?

State Farm is a 100-year-old insurance company, which almost doubles the size of the nearest competitor with an 18.6 percent market share of all US auto insurance policies.

Let’s put State Farm’s size in perspective:

State Farm vs. Allstate and Geico

  • State Farm – 18.62 percent
  • Allstate and Geico’s combined market share – 18.7 percent

State Farm vs. six of the top 10 car insurance companies:

  • State Farm – 18.62 percent
  • Zurich Financial Services + Nationwide Mutual + Liberty Mutual + USAA Insurance + Travelers + American Family Mutual  21.38 percent combined

The State Farm Car Insurance Company (legally known as the State Farm Mutual Automobile Insurance Company) dominates the auto insurance market far more than any car insurance company today with over 75 million policyholders.

State Farm also has a much larger local agent network (lending a presence almost everywhere) while Geico spends more time focusing on the acquisition of new customers online and by telephone.

State Farm may not maintain such a dominant market share in the years to come as more and more car insurance consumers go online in search for auto insurance, but they certainly have the podium as America’s biggest car insurance company today by a mile.

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What types of insurance does State Farm offer?

Even as the largest car insurance company in America, State Farm has not limited its products just to car insurance.

The company offers many types of personal and business lines of insurance including:

This really depends on your profile but State Farm has such a commanding market share for a couple reasons and one of them is reliable coverage at affordable prices.

While some consumers report premiums are a little higher than competitive companies there is certainly some value in having State Farm there when you need to file a claim.

The best way to learn how much State Farm car insurance rates are for your profile will be to connect with an agent and then compare car insurance companies online to see how competitive their auto insurance rates are the marketplace.

Need car insurance? Compare car insurance quotes today! Enter your zip code below to get started for FREE!

References:
  1. https://www.geico.com/
  2. https://www.libertymutual.com/
  3. https://www.statefarm.com/
  4. https://www.21st.com/
  5. https://www.statefarm.com/insurance/home-and-property/renters

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