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Top-Rated Auto Insurance Companies

Here's what you need to know...
  • Choosing a car insurance carrier is one the most important decisions you will ever have to make
  • Larger insurance companies have a number of advantages over smaller ones. Large companies are financially stable and able to continue providing coverage through periods of economic boom and bust
  • Financial stability also means larger insurers are generally more reliable than smaller ones

If you listen to the advertisements, every car insurance company in the country would have you believe they offer the lowest premiums and the best customer service. While all companies have strengths and weaknesses, some do have more of a claim on the top spot than others.

By taking a look at the largest insurance companies and those with the best customer service, we can try and determine the top insurance company in the country.

Enter your zip code above and we will help you find the best car insurance for your needs by sending multiple car insurance quotes for FREE!

Larger Companies are More Reliable

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Larger insurance companies have a number of advantages over smaller ones. Large companies are financially stable and able to continue providing coverage through periods of economic boom and bust.

Their large financial base also means they’re not going to suddenly change their premiums to make up for a financial shortfall.

Financial stability also means larger insurers are generally more reliable than smaller ones. Smaller insurance companies are also more likely to be bought and sold.

Large companies grew from small companies by offering what customers want. They offer reliability, stability and have developed the trust you need in your insurance provider.

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Larger Companies Offer Better Prices

Many large companies are better able to compete on price as well. Although some small insurers try and undercut industry giants, they may raise their rates more quickly because their initial rate is unsustainable.

They may also struggle to offer the same level of responsiveness for claims and policy services because they have fewer resources with which to act.

Who is the Largest?

So who are the largest insurance companies? The five largest insurance companies by market share in 2009 (the latest data available) are listed below:

  • State Farm 18.6 percent
  • Allstate 10.5 percent
  • Geico 8.2 percent
  • Progressive 7.5 percent
  • Farmers 6.4 percent

State Farm has been the largest insurance company for a long time, although they have lost market share to discount providers like Esurance.

However, once we look at the customer service scores, you’ll see why State Farm has maintained their position, despite losing a little bit of market share.

Choose Good Customer Service

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When you buy insurance, it’s tempting to skimp on customer service. Car insurance customer service is a very important even though your insurance company is not a company you hope to interact with very often.

However, when you need your insurance company, you really need everything to go smoothly. An accident is expensive enough without your insurance company skimping on coverage or directing you to a disreputable body shop with low rates.

Finding a Company With Good Customer Service

Companies with good customer services scores generally provide their customers with plenty of options and an easy buying experience. Many have individual agents, rather than an online-based policy buying system.

These agents build relationships with customers and help explain what each type of coverage means and why a policyholder may need it.

Companies without agents, where customers buy entirely online, have struggled to match the customer service scores of those with agents. A customer may eliminate coverage for something they really need while shopping online, not realizing they’ve done so until they have an accident.

Some insurers also offer lower default coverage limits, so a particularly nasty accident may exceed what the insurance company has agreed to pay.

Amica Scored Highest

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Amica, a company that doesn’t even crack the top 10 of the largest insurance company, received JD Power and Associates award for the highest customer satisfaction scores.

They had a top rating of “among the best” in all five of the ranked categories – overall satisfaction, policy offerings, pricing, billing and payment and contacting the insurer. For more detailed information on this company head over to our Amica review of car insurance.

Customer Service from Other Small Companies

Several smaller companies didn’t do as well. Esurance, the discount insurer with the catchy commercials, scored very badly, as did 21st Century, another heavily discounted provider. These two were the lowest, although several other discount providers also scored badly.

The only other company to do as well as Amica was USAA. However, USAA insurance is only open to military members and their families and JD Power and Associates doesn’t rank companies with restrictions on membership.

State Farm is the Best of the Large Companies

The best of the large insurance companies is State Farm. They received very high scores in overall customer satisfaction and how easy they are to contact.

They also had above average marks in the rest of the categories including policy offerings, pricing, billing, and payment. Their network of agents provide a lot of support to their customers and a level of one-on-one service other companies struggle to match. This is only one of the benefits of choosing State Farm.

The Top Insurer is…

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By combining the largest insurance companies and the customer service scores, it’s clear State Farm has scored well on the customer service scores, as well as being the largest insurance provider in the country.

The other large insurance companies had good customer service scores as well,  so they’re all more or less in second place, just below State Farm

However, since all these insurance companies price things differently, you should make sure you shop around frequently to make sure you’re still getting the best price on your car insurance.

The best way to shop around for car insurance for FREE is to enter your zip code below in our car insurance comparison tool.

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