Insurance

List of 10 Best Car Insurance Companies

Auto insurance coverage is vital to protecting your overall financial health, so finding the right company for your needs is an important task. A solid car insurance company will fit your budget and offer the coverage types and policy features you need.

We’re keeping pace with the auto insurance market to ensure we choose carriers based on factors that matter most to consumers, as informed by our team of insurance experts. We review average rates from Quadrant Information Services, coverage options, discounts, digital assets, and third-party customer services scores and financial strength ratings. Our research could help you find the best auto insurance options for your unique circumstances.

Liberty Mutual

Liberty Mutual is one of the largest insurance companies in the U.S. and has been around for over 100 years. It has a large international presence, with operations in 17 countries. The company sells property and casualty, health and life insurance policies.

You can get Liberty Mutual auto insurance through its call center, website, a local Liberty Mutual agent or broker, or representatives from its network of regional subsidiaries. One thing to note about Liberty Mutual’s coverage is that the company guarantees rates for a year.

USAA

USAA is the best insurance company in our ratings. According to our 2022 survey, USAA customers report the highest level of customer satisfaction and are most likely to renew their policies and recommend USAA to other drivers. USAA also has the lowest rates in our study, beating the national average by 35%.

USAA insurance products, including auto, homeowners, and renters policies, are only available to members of the military community. As such, not all drivers will be eligible for coverage through this insurer.

Farmers

Farmers receives strong scores for customer service and claims handling, helping it tie for the No. 3 spot this year. It also claims the No. 3 spot in two of our subrating categories, Customer Service and Claims Handling, and has above-average scores in our Customer Loyalty and Most Likely to be Recommended categories.

However, Farmers has higher-than-average rates and lower-than-average scores in our Most Likely to be Renewed category.

State Farm

State Farm is second in our analysis, with above-average scores in each subrating category. State Farm also has competitive rates, earning the No. 3 spot in our Cheapest Car Insurance Companies of 2022 rating. Its strong scores and low premiums make it the best insurer for drivers who aren’t eligible for USAA membership.

Allstate

Established in 1931, Allstate is the second-largest publicly traded property and casualty insurance company in America. Like State Farm, Allstate has a roster of local agents ready to serve your needs. The company currently employs more than 46,000 people.

Esurance, a subsidiary of Allstate, operates in the same space. According to Allstate, the Esurance brand targets self-directed and brand-sensitive customers, while Allstate is geared toward customers who want local and personal service.

Geico

Geico, known for its advertisements featuring an animated gecko, has served as an underwriter to more than 16 million auto policies, which insure more than 24 million vehicles. The company’s size allows it to employ more than 40,000 people across nine regional offices, three service centers and three claims centers.

Geico’s original customer base consisted of U.S. government employees and military personnel. Today, the insurance company’s customer base has expanded to include people in the private sector.

According to our research of the largest auto insurance carriers, Geico is the best insurer for college students.

American Family

American Family was initially established to insure farmers. In the 1930s, the company expanded and began to focus on insuring non-farmers as well. Today, the company is one of the biggest insurance companies in the U.S., and the largest insurer by market share in Wisconsin.

American Family is known for its extensive discounts that can make its already decent rates even more affordable for customers. However, American Family currently underwrites policies in just 17 states.

Erie

Why this company made our list: We included Erie on our list of the best auto insurance companies because this regional insurer is generous with optional coverage types in its policies and scores competitively across all third-party agencies reviewed in our research. Erie also offers discount advantages and competitive rates for young drivers who normally see the highest rates of all driver age groups. Erie’s high Bankrate Score contributes to its position on our list of best auto insurance companies for 2022, although coverage is not available nationally.

Why Erie is best for robust coverage: Erie automatically includes several coverage types and features in its full coverage policies that many competitors only offer as optional add-ons. Drivers can benefit from included rideshare insurance, accident forgiveness and Erie’s Rate Lock feature, which could help keep your premiums consistent over time. While only available in 12 states, the company provides robust coverage and a strong claims experience for drivers in its service areas.

Auto-Owners

Why this company made our list: Auto-Owners is another carrier with a strong reputation for providing excellent auto coverage and earned the second-highest J.D. Power claims satisfaction rates of any company on our list of best auto insurance companies. Its wide range of coverage and discount options are available to drivers in 26 states through a distribution network of independent agents.

Why Auto-Owners is best for discounts: Auto-Owners offers an impressive menu of 12 discounts, which many drivers are likely eligible to receive. Drivers could save by getting a quote ahead of their current policy’s expiration, or by opting for paperless billing and payment options. The company provides three types of student discounts, making it a great option for parents of teens or young drivers who have their own policy to consider.

Travelers

Why this company made our list: Travelers is a trusted insurer with over 150 years in the auto insurance industry. Its strong independent agent network, numerous endorsement options, robust savings opportunities and proven financial track record make it a worthwhile option for drivers nationwide.

Why Travelers is best for personalized coverage: Travelers’ isn’t the cheapest carrier on our list, but that could be because the carrier offers so many ways to customize your coverage to your specific needs. Options like new car replacement, accident forgiveness, rideshare coverage and gap coverage will add more premium to your policy but will also give you financial protection for a broader range of incidents. Travelers’ claims satisfaction is not as highly ranked by customers compared to other companies Bankrate analyzed, which may be worth considering before you purchase a policy.

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