Auto Insurance Companies By Market Share
While these carriers underwrite a large number of policies they differ on price service quality and many other characteristics.
Auto insurance companies by market share. Rank group company direct premiums written 1 market share 2 1. By market share in 2015 were. Is dominated by a few key players. The auto insurance market in the u s.
The landscape of personal lines auto insurance is dominated by large players with the top five insurers controlling more than 50 percent of the market and the top 10 controlling 70 percent nationally. State farm has over an 80 percent greater market share than the 2nd largest car insurance company allstate and more than twice the market share of geico progressive and farmers. A large market share definitely does not equate to high customer satisfaction although customer satisfaction does play a role in achieving and retaining a dominant place in the market. Company records show that nationwide had collected a little over 7 million in direct premiums written as at january 2019.
Rank insurance company or group direct premiums written in 000s market share 1. State farm mutual automobile insurance. Richard attanasio vice president of property casualty ratings for a m. In fact the largest ten car insurance companies control approximately 72 of the market.
See the nation s top 10 largest auto insurance companies ranked by market share with customer satisfaction ratings and links to reviews. According to the final 2018 market share report from the national association of insurance commissioners naic the top five private passenger auto insurers however increased their share to 56 57 percent. The company claims 2 74 of the us auto insurance market share. Best notes that there are similar situations in most states.
Even more interesting is the five car insurance companies which make up the bottom of the top 10 list hold a collective market share of 17 1 percent still less. State farm geico progressive and allstate are the largest auto insurance companies.
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