The largest auto insurance providers provide an array of coverages. A major factor in the cost of your policy is choosing your deductible amount; this represents what you must pay before receiving insurance protection.
Consumers should also carefully consider a company’s financial strength rating and customer satisfaction rankings in their region, citing as examples Geico, State Farm and Liberty Mutual as top performers.
1. GEICO
GEICO ranks among the most customer-satisfying car insurers and frequently appears among NerdWallet’s analyses of affordable policies. Furthermore, consumers can utilize multiple digital management options for their policy with them.
Leo and Lillian Goodwin, the company’s founding couple, targeted government employees and members of the armed forces because they thought these groups had better driving records than most drivers. They sold their first stock in 1948.
Enter your ZIP code to quickly compare GEICO with other providers and receive personalized quotes, then select which discounts apply to see any potential savings (Disclaimer: Table data is sourced from real-time quotes provided by Insurify’s 50+ partner insurance providers; actual prices may differ).
2. Liberty Mutual
Liberty Mutual provides an array of coverage options, such as personal automobile, homeowners, global specialty, workers compensation, commercial auto multiple-peril, reinsurance and surety. Since 1912, they have been helping people live safer lives.
Liberty Mutual’s employee benefits package includes life and disability coverage as well as a 401(k) with company match. Furthermore, they offer several add-on car policies designed to save drivers money – such as lifetime repair guarantee coverage and new car replacement assurance policies.
Liberty Mutual also makes significant contributions to its communities by donating over $64 million in 2020 to non-profit partners – this donation includes support for community resilience, youth homelessness and access for those with disabilities.
3. Farmers
Farmers offers comprehensive car insurance and boasts one of the largest agent networks in the industry. Though its rates exceed state averages, usage-based Signal app can help lower premiums for drivers who exhibit safe behavior. Farmers also offers guaranteed value coverage that reimburses an agreed upon amount in case your vehicle is totaled; and loss of use coverage that provides transportation while repairs take place.
Farmers scored an overall customer satisfaction score of 882 out of 1000 in the J.D. Power 2022 Auto Claims Satisfaction Study, exceeding industry average. Unfortunately, Farmers wasn’t as impressive when it came to online shopping experience and therefore didn’t score as highly overall in that study segment.
4. Travelers
Travelers Auto Insurance Company is one of the oldest auto insurers worldwide and has proven themselves financially secure, boasting rates that are typically 7% less than national average.
Travelers has received far fewer complaints than would be expected for an organization of its size, according to the 2020 NAIC justification ratio. Travelers’ complaint-to-policyholder ratio stands at 0.43 which is significantly below industry norms.
Travelers offers discounts that vary based on bundled, good driving record, hybrid car ownership and driver training courses – plus they offer an app to manage policies easily on-the-go! Unlike Nationwide, they also allow full payment.
5. American Family Insurance
American Family is an excellent option for drivers seeking an insurance provider with a longstanding track record for paying claims and offering reasonable rates. Their customer satisfaction rating with the Better Business Bureau stands at A+ while their complaint ratio falls well below industry norms. Furthermore, this company provides various coverage options, such as uninsured motorist protection and gap insurance; which covers the difference between loan value and actual cash value following an accident.
Teen Safe Driver and KnowYourDrive are programs offered by CyberScout that can help drivers save money. Furthermore, Teen Safe Driver also offers discounts and telematics programs such as KnowYourDrive that offer significant savings opportunities for drivers.
6. Nationwide
Nationwide offers all of the same forms of auto insurance coverage available from other top insurers, such as personal injury protection, uninsured/underinsured motorist coverage and comprehensive. Furthermore, Nationwide offers various policy add-ons such as rental car coverage or SmartRide (a device which monitors driving habits in order to qualify drivers for discounts).
Nationwide ranks higher than average in our customer service categories, with 72% of its customers reporting complete satisfaction with how easy it is to reach the company and the status updates they receive on their claim. It offers affordable average premiums as well as savings programs such as accident forgiveness to help lower rates even further.