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Who is the biggest car insurance company?

The Gecko may be popular with almost a billion dollar advertising budget, lots of people like the Progressive girl and who doesn’t know Allstate has good hands but none of these companies can even come close to the market share held by the biggest car insurance company in America.

Who is the biggest car insurance company?

State Farm. This 100 year old insurance company almost doubles the size of the nearest competitor with an 18.6% 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%
  • Allstate and GEICO’s combined market share 18.7%

State Farm vs. 6 of the top 10 car insurance companies

  • State Farm 18.62%
  • Zurich Financial Services + Nationwide Mutual + Liberty Mutual + USAA Insurance + Travelers + American Family Mutual  21.38% Combined

Source Insurance Information Institute

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.

This may surprise many analysts who are overwhelmed with Gecko ads but State Farm’s customer base comes from almost a century of existence and GEICO didn’t start aggressively advertising until Warren Buffet’s Berkshire Hathway group purchased the company in 1996. 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.

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 homeowners, life renters, commercial insurance and more.

How much is State Farm Car Insurance?

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 clam. 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.

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