Finding a great auto insurance company is getting harder and harder. Comparison tools allow you to evaluate insurance providers side by side, but you need solid knowledge of the market to uncover the best providers.
We’ve been around the industry for ages and helped thousands of people find the right insurance coverage for their cars. To help you make a wise decision, below, we round-up some of the best auto insurance companies at the moment.
Top 5 Auto Insurance Companies of 2019
Learn more about top car insurance providers in the United States.
Geico
At the top of the list, and occupying the #1 spot in Forrester’s 2017 US Mobile Auto Insurance Benchmark report, is Geico with an outstanding claims satisfaction score and some of the best discounts in the market.
Travelers
Travelers Insurance also comes with impressive discounts, but what truly sets it apart is the depth of coverage. When it comes to supplemental coverage, no one comes close.
Progressive
Progressive offers generous discounts. You get worthwhile deductions for simple things like opting for paperless billing and renewing your policy on time. Great option for “high-risk” drivers.
Allstate
Allstate is best known for its exemplary online resources. Whether it’s learning more about their different plans or managing your policy, the company has made it possible to accomplish that online.
State Farm
State Farm covers all rideshare drivers and cars in 37 states. It gets better, rather than purchase a separate commercial auto insurance policy, with State Farm, drivers can simply add the coverage on their normal auto plans.
How We Choose the Best Auto Insurance Companies
There are five main things to look for in an auto insurance company.
Strong Financial Standing
The last thing you want to hear after a car accident is that your auto insurance company isn’t in a position to cover the damages – because they don’t have the money! That can hurt. A great insurance company is able to pay what is needed, when it’s needed; no excuses.
To this end, one of the first things we look for in a car insurance company is their financial standing based on guidelines from the Insurance Information Institute (III). An “A-” rating or better from A.M. Best and at least an “A” from Standard & Poor is evidence enough that an insurance provider has a strong financial base.
Effortless Claims Process
Of course, it’s impossible to find an auto insurance provider that pays right on the spot after an accident. They all have to conduct some investigation to find out whether the claim is covered and how much they are required to pay. But, there are many cheap providers out there who could take you in circles for months. It would be in your best interests to avoid such providers completely.
Since the two most common complaints from auto insurance customers are customer support and the final settlement amount, we referred to the 2017 Claims Satisfactory Study by J.D. Power to find out the best companies at both customer support and final settlement amount. All providers we’ve recommended below scored 850+ points out of 1,000.
Generous Basic and Supplemental Coverage
A great auto insurance company provides both basic and supplemental cover. Basic coverage includes essentials such as:
- bodily injury liability
- personal injury protection
- collision
- uninsured/underinsured motorist
- comprehensive coverage
Supplemental coverage, meanwhile, refers to “add-ons” that a motor vehicle owner can purchase for additional protection. They come with additional costs and often include features such as car rental coverage which kicks in when you rent a replacement vehicle when your car is being repaired. The auto insurance providers we recommend here provide car owners with generous basics and all the “add-ons” you may need.
Worthwhile Discounts
All car insurance companies have discounts. It’s like a rule – they will all show you how you could save money with their covers. Except, not all discounts are worthy of the name; some might not save costs at all. It’s important to find an insurance company that offers discounts that can help you save. More importantly, ensure that they are discounts you and your car qualify for.
In our ranking, we favor providers that offer a wide range of discounts as well as the highest dollar-value for any specific discount. It’s true that the amount you can save will depend on many factors, some even beyond your control, such as the city or state you live and drive in, the technology built into your car, your driving habits, and so on. Still, we only recommend companies that strive to give each driver the greatest opportunities to save.
Conclusion
Based on the above criteria, we listed the top five auto insurance companies you can find at the moment. Even if you choose to look outside the five companies listed here, do NOT overlook the important four considerations we listed above. If you have been a customer of one of the companies listed here, please share your experience by leaving a review.
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