List of Car Insurance Companies and Their Ratings (2024)

More than 7,000 insurance companies do business in the U.S. Here are the best ones for your personal car insurance.

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Choosing the best car insurance company can seem overwhelming with all the options available. Not every car insurance company is right for every person, either — the one that’s best for you may be different from your neighbor’s.

Insurify put together a list of companies to help you compare car insurance quotes and reviews. Whether you’re looking for the cheapest car insurance premiums or the best customer service, this list will help you quickly sort through the options to get what you need.

The largest insurance company is State Farm.

NJM and USAA are tied for the best insurance company.

The insurer with the cheapest rates is COUNTRY Financial.

National insurance companies

Regional insurance companies

Top 5 largest car insurance companies

It may seem like you see an advertisement for a new insurance company every day. However, the list of car insurance companies that have withstood the test of time is much smaller. These companies have survived by changing their business models over time.

Liberty Mutual, for example, originally launched in 1912 to underwrite workers’ compensation insurance policies for businesses. GEICO famously started by serving government and military employees in 1936. But by 1996, Warren Buffet’s investment firm Berkshire Hathaway had purchased the company, and it now provides policies to the general public.

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The 5 best auto insurance companies

Insurify compiled a list of car insurance companies that balance lower-than-average full-coverage premiums, high Insurify Quality Scores, strong customer satisfaction ratings, and stable financial outlooks.

Our editorial team spent 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. Criteria are weighted by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

We rate each company on a 1 to 5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. We update ratings once a year or as more recent information becomes available.

NJM

NJ Manufacturers

NJM launched in 1913 to provide workers' compensation to New Jersey businesses. In 1921, the company added auto and homeowners insurance. Today, NJM also sells renters, condo, umbrella, watercraft, motorcycle, and ATV insurance in Connecticut, Maryland, Ohio, and Pennsylvania, as well as in New Jersey. A.M. Best gives the company an A+ rating, and NJM has a much lower than expected number of consumer complaints with the National Association of Insurance Commissioners' Consumer Complaints Index.

High scores from J.D. Power for customer satisfaction

Numerous discounts available to help lower rate

Only available in five states

Cheaper rates may be available elsewhere

Just after money, but found another. Now they're all together

Excellent

Average

USAA

USAA

In business for more than 100 years, USAA exclusively serves members of the military and their immediate families. The company offers multiple types of insurance products, as well as banking, investing, and retirement services. Auto insurance customers have access to a number of discounts, including for bundling, insuring multiple vehicles, living on a military base, and more. A.M. Best gives USAA an A++ rating for financial strength, and the company had the highest or second-highest rating of all insurers in every region in J.D. Power’s Overall Customer Satisfaction Index. Customer reviews are mixed for service and claims processing.

Low premiums

SafePilot program rewards good driving with up to 30% discount

Only available to active-duty military, veterans, military spouses, or children of service members or veterans

No 24/7 customer phone support

Great

Very Happy Customer

Fantastic

State Farm

State Farm

State Farm has been in business for more than 100 years, and today sells auto and other vehicle insurance, homeowners, life, health, pet, disability, and small business insurance. Available in all 50 states, State Farm car insurance policies offer multiple ways to save, from customizing coverage types, to a robust list of discounts. The company has far fewer complaints than expected for the industry, according to the National Association of Insurance Commissioner’s Consumer Complaints Index. State Farm also ranks among the top 10 companies for customer satisfaction in every region on the J.D. Power Overall Customer Satisfaction Index.

High rates of customer satisfaction

Rideshare insurance available

No gap insurance offering

May not be the cheapest choice for drivers with violations

Took months to get an adjuster for my water leak in the house

Thinking about Switching

Feels Like Someone's Watching Me, I'm Not Switching

American Family

American Family

Founded in 1927 in Madison, Wisconsin, American Family Insurance offers more than a dozen types of insurance in 18 states throughout the midwestern and western U.S. The company has an excellent rating from A.M. Best for both financial strength and credit. American Family stands out for its high rate of customer satisfaction, with largely positive online consumer reviews and a well below-average number of complaints in the National Association of Insurance Commissioners Consumer Complaint Index. American Family offers car insurance policyholders 16 different discounts to help lower their rates.

High rates of customer satisfaction

Numerous discount and coverage options

Only available in 18 states

Rates are merely moderate compared to other insurers

Excellent

Getting Too Expensive

It's Good

GEICO

GEICO

A highly recognizable name in car insurance, GEICO is a subsidiary of Berkshire Hathaway. The company started out as the Government Employees Insurance Company, serving U.S. government workers and military personnel. In addition to auto insurance, GEICO also sells homeowner, flood insurance, life insurance, business insurance, and identity protection, among other products. A.M. Best gives GEICO its highest rating for financial stability and credit. However, GEICO has nearly twice as many complaints as expected in the National Association of Insurance Commissioner’s Consumer Complaints Index.

Good rates for good drivers, seniors, and young drivers

Accident forgiveness available

High rates for drivers with certain violations, like DUIs

No rideshare or new car replacement coverage available

Horrible

Geico is My Winner

High Premium

How Insurify rates car insurance companies

Insurify uses an in-house, proprietary method to rate and review the best car insurance companies. The Insurify Quality (IQ) Score uses more than 15 crucial criteria, including average premiums, customer satisfaction, discounts, and third-party ratings, to calculate a final score for a company.

Criteria are weighted by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings. With the IQ Score, Insurify is able to provide quantitative ratings for drivers to better compare car insurance companies and make informed decisions to meet their coverage needs.

The 5 cheapest car insurance companies

You’re required to purchase at least a minimum level of liability coverage in most states in order to legally drive. It’s a good idea to consider higher coverage levels if you have the budget for it, but you must meet your state’s liability minimums. The cheapest car insurance companies for liability-only coverage are COUNTRY Financial, NJM, and Auto-Owners, each with liability premiums of less than $100 a month.

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How much does car insurance cost?

Car insurance companies base their prices on many factors, so you may get car insurance quotes that differ from the average rate. Here are a few factors that car insurance companies use to price your premiums:[1]

Your car: You may pay higher rates if you drive an older vehicle with fewer safety features, if you put a lot of miles on your car, or if your car is an expensive model that would cost more to repair or replace.

Your credit score: In most states, insurance companies can use your credit score to calculate your rates and decide whether it’ll allow you to buy a policy.

Coverage amounts: Full-coverage insurance costs more because it adds collision and comprehensive coverage to your policy. For example, State Farm and The General charge an average of $50 and $192 more per month, respectively, for full coverage than for liability-only insurance.

Demographic information: Insurers charge higher premiums for younger drivers, men, single people, and people who live in urban areas with higher rates of theft and car accidents.

How much car insurance should you have?

This is one of the trickiest questions to answer because there’s no way to definitively tell what amount of car insurance is correct. It’s a matter of weighing your risks versus the cost of the insurance.

If you’re financing your car, the answer is a bit easier: Most lenders require you to purchase a full-coverage policy since they have a financial interest in your car.[2]

A financial advisor may be able to help you determine how much car insurance you need. Nycole Freer, certified financial advisor and owner of Eden Financial, specializes in helping mothers and young professionals achieve their financial goals. She recommends that her clients purchase a full-coverage policy and max out their liability coverage to $500,000 to provide the most financial protection possible.

“You don’t want to be in a position where [you] get into an accident and are underinsured,” says Freer. “That could put you into a financial hole you don’t want to climb out of.” 

If you cause an accident, insurance will only pay up to your coverage limits, and you’re responsible for the rest.[3]

How to choose a car insurance company

The list of car insurance companies seems endless, but you can quickly zero in on the best options by following a few tips:

Research reviews. Look at various review websites to get an idea of which companies people choose, how much they charge, and what their pros and cons are.

Work with a broker. An independent insurance broker works with multiple companies and can do the legwork for you in terms of finding the best quote with the best auto insurer.

Be clear on your insurance needs. Most people do just fine with standard car insurance options, but it’s worth thinking about your situation. Are there any features you’d really prefer in a company or any certain types of coverage options you need? This can be a quick way to narrow down the field.

Ways to save on car insurance

Car insurance can get expensive. In 2022, the average person spent more than $1,500 on car insurance, according to AAA.[4] Fortunately, you have options to lower your car insurance costs:[5]

Many insurers offer telematics devices or apps that record your driving and offer lower rates if you’re a safe driver. Driving safely also means you won’t need to pay a deductible, and it prevents your rates from increasing at the next renewal. Many insurers also offer safe driver discounts.

Higher deductibles come with smaller premiums, but be sure you can easily pay the deductible up front if you file a claim. “I wouldn’t have a deductible over $1,000 until you can afford a deductible that is higher,” says Freer.

The more companies you get a quote with before renewal time, the better your chances of finding a company that offers the same coverage for a cheaper price.

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Car insurance companies FAQs

Insurify answers commonly asked questions about car insurance companies. However, you can do more research before you buy a policy. Read Insurify guides about how to shop for auto insurance and how to switch your car insurance.

Who are the three largest insurers?

State Farm, Progressive, and GEICO are the three largest insurance companies in the United States by market share.[6]

What’s the best car insurance company?

With a tied IQ Score of 4.5, both USAA and NJM rank as the best car insurance companies in the U.S. due to their affordable rates and high customer satisfaction scores.

What’s the cheapest auto insurance company?

COUNTRY Financial is the cheapest auto insurance company, with an average monthly premium of just $60 for a liability-only policy.

Can you switch insurance companies?

Yes, you can switch insurance companies. It’s good to consider if you’re getting close to the end of your current policy and if you can get a quote from a company that offers cheaper rates and better coverage.

What do you need to get a car insurance quote?

In addition to your personal information, you’ll need your car’s VIN, mileage, make, and model in order to get a rate quote. If you currently have car insurance, you can use your current declarations page as a cheat sheet for your current coverage types and amounts so you can get a quote for a comparable level of coverage.

Sources

Lindsay VanSomeren is a freelance personal finance writer living in Suquamish, WA. Her work has appeared with FICO, Credit Karma, The Balance, and more. She enjoys helping people learn how to manage their money better so they can live the life they want.

3+ years producing insurance and personal finance content

Main architect of the Insurify Quality Score

Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.

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