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The top auto insurance companies are State Farm, USAA, Geico, Erie, and Travelers based on cost, coverage, reputation, affordability, and service.
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Choosing the best auto insurance provider for you can be intimidating. That's why we, the team at Home Media Reviews, have done the work for you. In this article, we narrow down the top 10 auto insurance companies in the industry and provide detailed reviews of the top five auto insurance providers.
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Why should you trust our team? The Home Media Reviews team is committed to providing reliable information to help you make the best car insurance decision. Our researchers, writers and editors are dedicated to researching suppliers and analyzing customer reviews and information so you can choose with confidence.
After thoroughly researching the auto insurance market and analyzing each company's reputation, availability, coverage options, discounts and customer experience, 10 companies stood out from the competition as the best auto insurance providers.
When ranking these insurers, our team took into account state availability, breadth of coverage, pricing, and satisfaction ratings from experts like J.D. power.
We also took into account AM Best's financial strength ratings and the number of complaints as reported by the National Association of Insurance Commissioners (NAIC). Each insurer was rated on a 10-point scale.
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Our top five choices for car insurance are State Farm, USAA, Geico, Erie, and Travelers. We provide a more detailed assessment of each of these providers in the following sections:
Pros Wide range of coverage options Offers discounts for different types of drivers. Average full coverage rates are about 14% lower than the national average. It scored 4.2 out of 5.0 for overall satisfaction in our auto insurance customer survey.
Our cost estimates show that good drivers pay an average of about $1,481 per year for comprehensive coverage with State Farm. This puts the state farm among the most affordable domestic providers.
State Farm is another strong choice when it comes to finding the best auto insurance in the industry. Our January 2022 insurance survey found that the insurer was the most popular provider among 1,000 respondents, with 13% saying they purchased insurance protection from State Farm.
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As the nation's largest auto insurance company, State Farm is no stranger to settling claims — the company has an A++ financial strength rating from AM Best. According to the NAIC, State Farm accounted for 16.01% of the auto insurance market share in 2021. State Farm also had fewer complaints than the industry average in 2020, although customer feedback on BBB is mixed.
We chose State Farm as one of the best auto insurance companies in the country, in part because of the safe driving discounts it offers young drivers. Two discount programs are available in mobile applications:
Other discounts on State Farm auto insurance include good grades, safe driving, defensive driving, vehicle safety features, and driving course completion. The company does not offer military discounts.
Advantages Affordable rates High efficiency according to J.D. customer surveys. Strengths Highly rated mobile app Financial rating A++ Cons Not available to everyone SafePilot is only available in 25 states Not the cheapest option after a critical condition
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USAA is known for its affordability. It offers the cheapest car insurance on average of any other provider we researched. Our estimates show that good drivers pay an average of $1,054 per year for comprehensive car insurance with USAA. The company also offers discounts based on driver safety, multiple policies, safety features like airbags, etc.
USAA is our second choice for the best car insurance in the country. J.D. auto insurance training regularly. Power as one of the best providers in terms of customer satisfaction and value. The company is known for its high customer ratings and affordable coverage options, including accident forgiveness. However, it has strict eligibility requirements and not everyone is eligible for coverage.
USAA auto insurance is only available to members of the military, veterans and their families, which greatly limits coverage options. If you qualify for a USAA policy, this is one of the best options available. In addition to the standard types of car insurance, USAA offers the following additional coverage:
USAA received an A++ financial strength rating from AM Best and an A+ rating from the Better Business Bureau (BBB). According to the NAIC, the auto insurer accounted for 6.04% of the market share in 2021. Although not the largest auto insurer, USAA is still a recognized financial strength. In 2021, the company paid $15.73 billion for private auto insurance.
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Even though USAA doesn't have many physical locations, policyholders are still impressed with the company's customer service. USAA received the highest score in the J.D. study. Auto Insurance SM Study. Power 2022 in all US regions, although it is not ranked due to eligibility criteria. And in our January 2022 auto insurance survey, nearly 65% of 107 respondents who had coverage through USAA said they were very satisfied with their USAA insurance, the highest rate of any provider.
USAA is also known for its affordability. It offers the cheapest car insurance on average of any other provider we researched. Our estimates show that good drivers pay an average of about $1,054 a year for comprehensive car insurance with USAA. The company also offers discounts based on driver safety, multiple policies, safety features like airbags, etc.
Pros A++ financial strength rating from AM Best and A+ rating from BBB Low rates for most drivers High policy limits Usage-based insurance discount Cons Average energy claim ratings J.D. Not always cheapest for people with bad credit or recent accidents Fewer local agents than other companies
Geico's rates are some of the most affordable we've seen. Our estimates show that drivers pay an average of $1,308 per year for comprehensive car insurance from Geico. These ratings are for 35-year-olds with good credit and good driving record. Our ratings place Geico in the top three for affordability compared to other domestic providers.
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If you are not eligible for USAA coverage, you should consider Geico as your best option. The company offers reliable service, a wide selection of insurance coverage and cheap car insurance rates according to our rates.
Geico received an A++ (superior) rating from AM Best, which means the company has the financial support to pay customers' insurance claims. A large auto insurance company like Geico offers more financial stability compared to a smaller local company.
Geico also has a good reputation for customer service. According to J.D. Auto Insurance Research. Power, Geico performed better than average in all regions except the Mid-Atlantic, Southwest and Texas. The study surveyed customers about their satisfaction with claims, billing, pricing, policies, and more. Additionally, our January 2022 insurance survey of 1,000 respondents found that nearly 12% chose Geico as their insurance provider.
In terms of value, Geico's rates are some of the most affordable we've seen. Our estimates show that drivers pay an average of $1,308 per year for comprehensive car insurance from Geico. These ratings are for 35-year-olds with good credit and good driving record. Our ratings place Geico in the top three for affordability compared to other domestic providers.
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In addition, the insurer offers several ways to save money, including a good driver discount (up to 26% off), a good student discount (up to 15% off) and a multi-vehicle discount (up to 25% off).
Pros Strong industry ratings Wide selection of auto insurance coverage options Many auto insurance discounts available Cons Not available in all states No usage-based insurance option
According to our research, Erie offers some of the cheapest average annual rates in the country, at $1,238 per year for a comprehensive coverage policy. The insurance company offers many discounts in addition to lower auto insurance rates, such as savings for unschooled drivers, multi-vehicle drivers, and accident-free drivers.
Erie offers a good option for young drivers (21 and under) as well as drivers with a variety of vehicle types. In addition to standard car insurance, the insurer offers:
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Erie has an AM Best A+ rating for its ability to pay insurance claims. The insurance company's customer service is also highly regarded, as evidenced by its 3.3 rating on TrustPilot. In a study of the purchase of insurance in the United States, J.D. 2022 Power, Erie received a score of 878 out of a possible 1000. This is the second place among medium-sized insurers.
Pros A++ financial strength rating and BBB A rating Multiple discount options for drivers Offers accident coverage Cons Outdated mobile app
According to our research, the price of travel insurance is slightly lower than the national average, at an average of $1,669 per year for a full coverage policy. The auto insurance company offers a number of discounts, such as savings for homeowners, good students and accident-free drivers.
Travelers can be
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