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 2020
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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Resources From Our Insurance Experts
Washington Perry - March 7, 2023 @ 20:23
2019 titan platinum truck with 48900 miles.
Jose Arrazolo - March 27, 2023 @ 13:57
Hi There,
Do you offer any used vehicle warranty contracts for independent dealerships (BHPH)?
Glenna Martin - April 27, 2023 @ 05:12
I will have to get with my dealership on when my warranty ends. I bought my Trax new in 2020
Linda Longazel - May 30, 2023 @ 21:46
I feel confident in the car but I would like extended insurance because too many unknown’s could happen
Terri - August 1, 2023 @ 21:09
Just having a used car warranty can give a bit of assurance.
Francisco Collazo - September 13, 2023 @ 07:19
I have the Toyota extended warranty about to expire in 4 months. Would really like that peace of mind insurance. Are you that company?
Frances Herron - February 25, 2024 @ 11:31
Brought a leased jeep Compass Need a extended warranty.! What would co. Rei alible payments but do Bumper to Bumper coverage
Evelyn Fornuto - March 13, 2024 @ 06:57
I bought my 2017 car at a tent sale 7 years ago. Ihad the Manifacture warrenty because it was only 6 months old. when that ran out I bought an extended warrenty that is expireing Aug 8 of this year. I only have 37,103 miles on the car and I have had no trouble in all these years. As a senior I can’t afford an expensive repair so I want a bumper to bumper coverage.
RJ - March 16, 2024 @ 04:51
I was considering buying a used 2012 Jeep limited but then was told the Nissan dealer does not provide a warranty for this vehicle, I have to find a third party warranty company myself. I became very sad and Un trusting of this major dealership.
Alex - April 9, 2024 @ 18:47
I bought a car with 34,345 miles 3 weeks after I bought it the car star burned oil. And the extended warranty that come with it they don’t want to cover the repairs I’m very disappointed with the service Right now I’m looking for legal help