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High 10 automobile insurance coverage suppliers within the US in 2022


Learn extra: High 10 US auto insurance coverage corporations based mostly on buyer expertise

To determine which of those {industry} giants provide the perfect protection, Forbes Advisor took a “holistic view” of every firm by analyzing essential elements that affect buyer expertise. The buyer monetary providers agency then calculated the scores based mostly on 4 key metrics:

  • Auto insurance coverage charges (50%): Common charges for several types of drivers, together with these with a superb driving historical past; those that have brought about an accident; and people with a rushing ticket, DUI cost, or poor credit score – utilizing information from Quadrant Info Companies.
  • Protection choices (25%): Further coverages that present “higher safety or value financial savings” to customers. Forbes Advisor gave factors to corporations providing accident forgiveness, new automobile substitute, vanishing deductibles, usage-based or pay-per-mile insurance coverage, and SR-22s.
  • Complaints (20%): The variety of complaints towards the insurers utilizing information from the Nationwide Affiliation of Insurance coverage Commissioners (NAIC). Most auto insurance coverage complaints centered on claims, together with unsatisfactory settlements, delays, and denials.
  • Collision restore (5%): Insurer’s strategy to repairs utilizing information offered by CRASH Community, a weekly publication masking the collision restore and auto insurance coverage market segments.

Learn extra: Revealed – the most cost effective luxurious automobiles to insure in 2021

That is how the nation’s largest automobile insurance coverage suppliers fared based mostly on Forbes Advisor’s metrics, with the perfect corporations attaining the best rating of 5.0. The numbers are updated as of February 2022. The numbers for market share and direct written premiums are from III’s 2020 information, that are the latest figures accessible.

Market share: 13.6%

Direct premiums written: $33.9 billion

Common annual premiums for good drivers: $1,182

Collision claims restore grade: C-

Grievance degree: Low

Forbes Advisor ranking: 5.0

GEICO, a Berkshire Hathaway subsidiary and the nation’s second largest auto insurer tops the checklist, due to its “very aggressive insurance coverage charges” not only for motorists with a superb driving historical past, but additionally for individuals who have a rushing ticket, poor credit score, or have been caught driving with out insurance coverage. GEICO additionally affords helpful extra options comparable to accident forgiveness and a usage-based insurance coverage program to assist drivers scale back premiums. The insurer was additionally named the perfect auto insurance coverage supplier for good drivers in 26 states in Forbes Advisor’s evaluation. 

Market share: 2.3%

Direct premiums written: $9.8 billion

Common annual premiums for good drivers: $1,540

Collision claims restore grade: C

Grievance degree: Very low

Forbes Advisor ranking: 5.0

Nationwide has acquired the least variety of complaints among the many nation’s largest automobile insurers. It additionally affords aggressive charges for several types of drivers, together with these including youngsters to their insurance policies and people with a poor credit score historical past. The Ohio-headquartered insurer additionally offers a spread of useful add-ons, together with a usage-based insurance coverage program and pay-per-mile possibility for motorists who need to probably decrease their charges.

Learn extra: Nationwide groups up with Toyota, affords telematics-based insurance coverage

Market share: 2%

Direct premiums written: $4.9 billion

Common annual premiums for good drivers: $1,435

Collision claims restore grade: C+

Grievance degree: Very low

Forbes Advisor ranking: 5.0

Vacationers trails solely Nationwide for the least variety of complaints acquired. The corporate affords aggressive premiums for mortgage/lease hole insurance coverage at about $39 yearly. It additionally offers comparatively low auto charges for drivers with DUI on their information, though premiums for these including a teen driver are typically on the excessive aspect. Among the many standout options within the insurer’s insurance policies are accident and minor violation forgiveness, and a usage-based insurance coverage program that might present policyholders large reductions.

4. USAA

Market share: 6.3%

Direct premiums written: $15.8 billion

Common annual premiums for good drivers: $1,141

Collision claims restore grade: C+

Grievance degree: OK

Forbes Advisor ranking: 5.0

The final of the five-star-rated corporations in Forbes Advisor’s checklist, USAA affords low charges for not solely good drivers but additionally these with an accident, rushing ticket, or DUI on their information, in addition to younger and senior motorists. The specialist insurer, nonetheless, solely offers automobile insurance coverage protection for veterans and lively members of the army, and their instant households. Amongst its insurance policies, helpful add-ons embrace accident forgiveness, new automobile substitute, rideshare insurance coverage protection, and usage-based insurance coverage.

Learn extra: USAA to launch telematics insurance coverage program in most states

5. Auto-House owners

Market share: 1.3%

Direct premiums written: $3.1 billion

Common annual premiums for good drivers: $1,532

Collision claims restore grade: B+

Grievance degree: Low

Forbes Advisor ranking: 4.5

Auto-House owners’ optionally available protection choices – together with accident forgiveness, diminishing deductible, new automobile substitute, and hole insurance coverage – seamless claims course of, and a low variety of complaints make up for its comparatively excessive common charges for sure varieties of drivers. Amongst all ranked insurers, Auto-House owners has the best premiums for drivers with poor credit score. It additionally imposes a mean price improve of virtually $3,580 when including a teen to a coverage. The corporate, nonetheless, has acquired among the many highest marks from collision restore professionals for its good claims course of providers.

Market share: 16.2%

Direct premiums written: $40.4 billion

Common annual premiums for good drivers: $1,402

Collision claims restore grade: C

Grievance degree: Low

Forbes Advisor ranking: 4.5

The nation’s largest auto insurer affords the bottom premiums for drivers who’ve been concerned in accidents or caught rushing amongst all ranked corporations. It additionally offers aggressive charges for senior drivers and people including a teen to their coverage. When it comes to the variety of complaints acquired, State Farm sits on the underside half of the checklist.

Market share: 8.4%

Direct premiums written: $25.9 billion

Common annual premiums for good drivers: $2,022

Collision claims restore grade: C-

Grievance degree: Low

Forbes Advisor ranking: 4.0

Allstate boasts a portfolio of useful protection choices, together with accident forgiveness, disappearing deductibles, hole insurance coverage, and new automobile substitute. Policyholders also can entry the corporate’s usage-based and pay-per-mile choices. The corporate has a superb monitor report with regards to buyer complaints, which helps offset automobile insurance coverage premiums which are usually larger in comparison with its rivals.  

Learn extra: Allstate makes leap into customized auto insurance coverage pricing

8. Erie

Market share: 1.3%

Direct premiums written: $3.3 billion

Common annual premiums for good drivers: $1,419

Collision claims restore grade: A-

Grievance degree: Greater than {industry} common

Forbes Advisor ranking: 4.0

Erie has acquired the best mark from collision specialists amongst all listed insurers for its restore claims course of. Nevertheless, it was considered one of two corporations that acquired a higher-than-average variety of complaints. Forbes Advisor additionally described the corporate’s automobile insurance coverage charges as “a blended bag relying in your driving report,” however counseled its price lock function, which permits drivers to maintain premiums the identical yearly except they make sure adjustments on their coverage comparable to including or eradicating a car.

Learn extra: Erie Insurance coverage takes prime auto insurance coverage honors

Market share: 4%

Direct premiums written: $9.9 billion

Common annual premiums for good drivers: $2,124

Collision claims restore grade: C

Grievance degree: Greater than {industry} common

Forbes Advisor ranking: 3.0

Farmers auto insurance coverage charges are typically on the excessive aspect in comparison with its rivals. Auto insurance coverage complaints towards the corporate are additionally larger than the {industry} common. One of many positives for Farmers, nonetheless, is that it affords coverage options that may assist drivers after a collision comparable to new automobile substitute and accident forgiveness. The corporate additionally offers rideshare insurance coverage for Uber and Lyft drivers.

Learn extra: Farmers Insurance coverage already adapting to Tesla change

Market share: 13.3%

Direct premiums written: $33.2 billion

Common annual premiums for good drivers: $1,892

Collision claims restore grade: C

Grievance degree: OK

Forbes Advisor ranking: 3.0

The nation’s third-largest automobile insurance coverage supplier rounds up the rankings with a beneath industry-average variety of complaints. The corporate additionally sits on the center of the pack with regards to insurance coverage charges in comparison with different main {industry} gamers. Auto physique store professionals, nonetheless, give Progressive’s collision restore processes a comparatively low grade in comparison with its {industry} rivals.

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