Top 5 New Car Insurance Companies The USA

Top 5 New Car Insurance Companies The USA
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1. State Farm
State Farm
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State Farm is a great auto insurance company for anyone who wants a local agent, a personalized experience and cheaper-than-average rates.

Average annual premium: $1,310
Market share: 16%
Premiums written: $40.4 bn
ValuePenguin rating: 4.5/5
J.D. Power customer satisfaction score: 892
Read our full State Farm review
State Farm is the largest auto insurance company in the U.S. and owns 16% of the total available market share. Over 15% of dollars spent on private passenger auto premiums in the country go to State Farm.

The company currently employs approximately 60,000 employees and has nearly 19,000 agents. State Farm operates as a mutual insurance company, meaning that its policyholders own it.

Among the largest widely available car insurers in this list, State Farm offered the cheapest car insurance rates in most of the U.S.

LEARN MORE: Cheapest Car Insurance Companies

2. Geico
Geico
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Geico is one of the cheapest auto insurance companies. It offers national availability and an easy shopping experience.

Average annual premium: $1,917
Market share: 14%
Premiums written: $33.9 bn
ValuePenguin rating: 4/5
J.D. Power customer satisfaction score: 881
Read our full Geico review
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.

LEARN MORE: Best Car Insurance Companies for College Students

3. Progressive
Progressive
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Progressive offers especially competitive rates to drivers with previous accidents. However, claims satisfaction ratings and coverage options are average.

Average annual premium: $2,036
Market share: 13%
Premiums written: $33.2 bn
ValuePenguin rating: 3/5
J.D. Power customer satisfaction score: 862
Read our full Progressive review
Progressive — the third-biggest insurance company in the country — was established in 1937. The company offers the ability to buy auto insurance in-person, online or by phone. Alternatively, customers can sign up through independent insurance agents.

The company employs more than 35,000 people and has over 400 offices. Progressive is a publicly traded company.

4. Allstate
Allstate
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Allstate typically has better-than-average claims satisfaction ratings, but higher rates. However, the insurer offers a variety of discounts that can make policies more affordable for customers.

Average annual premium: $2,349
Market share: 10%
Premiums written: $25.9 bn
ValuePenguin rating: 3/5
J.D. Power customer satisfaction score: 870
Read our full Allstate review
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.

LEARN MORE: Best Car Insurance Companies for Customer Service

5. USAA
USAA
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USAA is one of the best auto insurers in the country. You'll enjoy extremely competitive rates, great customer service and speedy claims responses from USAA. The only downside is USAA's restricted membership.

Average annual premium: $1,170
Market share: 6%
Premiums written: $15.8 bn
ValuePenguin rating: 4.5/5
J.D. Power customer satisfaction score: 909
Read our full USAA review
USAA was founded by 25 Army officers who decided to insure each other's vehicles in 1922. Today, the company serves millions of members associated with the U.S. military, including current and former service members, family of service members and cadets or midshipmen.

USAA is headquartered in San Antonio. The corporate campus' length extends three-quarters of a mile. USAA is the largest private company located in San Antonio.

Because of its focus on the U.S. armed forces, USAA is our top pick for the best and cheapest car insurance for veterans and military service members.