Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate drivers about...

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Reviewed by Laura Walker
Licensed Agent for 10 Years

UPDATED: Feb 7, 2020

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Every year the Insurance Information Institute publishes market share of insurance companies across a number of verticals, including private passenger auto, commercial auto insurance, homeowners insurance, and more.

Companies like Allstate, Geico, State Farm, and Progressive are always near the top, but sometimes there are changes in market share due to consolidation or significant acquisitions of auto insurance policies.

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Here are some highlights from the 2010 annual report of auto insurance companies by market share.

Winners

  • State Farm increased total market share slightly from 18.6 percent to 18.7 percent.
  • Geico increased its market share from 8.2 percent to 8.5 percent.
  • Progressive increased its market share from 7.5 percent to 7.7 percent.
  • Liberty Mutual saw a small uptick from 4.4 percent to 4.5 percent.
  • Travelers stayed the same year over year at 2.1 percent.
  • USAA gained almost an 8 percent increase, gaining 4.4 percent market share from 4.1 percent in 2009.

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Losers

  • Allstate dropped from 10.5 percent to 10.2 percent. However, with the recent acquisition of Esurance, they likely made a lot of this up and maybe even then some.
  • Zurich Financial Services (Farmers) lost almost 8 percent of policy coverage, dropping to a 6.0 percent market share from a 6.4 percent in 2009.
  • Nationwide Mutual dropped from 4.5 percent to 4.2 percent.
  • American Family Mutual Insurance (AMFAM) dropped slightly from 2.0 percent to 1.9 percent.

Overall Market Share of Top 10 Auto Insurance Companies in 2010 Versus 2009

Overall, the top 10 auto insurance companies in 2010 still accounted for almost the exact same total amount of private passenger auto insurance policies written by attracting 68.3 percent of the market share versus 68.2 percent in 2009.

The market share for each of the top 10 auto insurance companies in 2010 were:

  • State Farm – 18.7 percent
  • Allstate – 10.2 percent
  • Geico (Berkshire Hathaway Inc.) – 8.5 percen
  • Progressive – 7.7 percent
  • Farmers (Zurich Financial Services Ltd) – 6.0 percent
  • Liberty Mutual – 4.5 percent
  • USAA Insurance – 4.4 percent
  • Nationwide – 4.2 percent
  • Travelers – 2.1 percent
  • American Family Mutual – 1.9 percent

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Are these the best auto insurance companies?

No, these are just the largest auto insurance companies by market share nationwide. Think of these companies as the staple brands we all know that pretty much occupy a corner of the country no matter where you live.

They are the WalMarts, Targets, and Home Depots of the auto insurance industry per se.

While there is no doubt these auto insurance companies have significant market share due to competitive premiums and commitment to customer service and claim handling, there are still dozens of local and regional auto insurance companies that also provide comparable service. Some may even have more affordable auto insurance rates.

These market share reports are done nationally, so they ignore the large presence of some local providers like PEMCO in Washington State and others.

Anytime you need an auto insurance company, it’s a good idea to check with well-known national brands like the ones above, but also check with local insurers, and always do an auto insurance comparison search online.

At the end of the day you need reliable coverage with affordable premiums, and with over 100 licensed auto insurance companies to choose from in most states, you certainly always have a lot more choices than just these providers.

Use our FREE comparison tool to compare auto insurance rates from the top companies today!

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