Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: May 12, 2020

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Here's what you need to know...

  • The top 10 insurance companies in this article are based on date from the Insurance Information Institute
  • A good insurance company will have a solid number of policies written and good ratings concerning claims payout
  • The best insurance company for you depends on your budget as well as your specific coverage needs

If you look online, you will find that there are a lot of lists when it comes to finding the top 10 car insurance companies.

This can be frustrating and confusing for people who are looking to purchase auto insurance from a company that falls under this category.

The list provided here is based on statistical data provided by the Insurance Information Institute (III).

III is an organization dedicated to providing both insurance companies and individuals with information regarding America’s buying trends when it comes to insurance of any kind. Enter your zip code now to get car insurance quotes!

The Top 10 Companies

According to III, the top 10 insurance companies in the US are:

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Why are these the top 10 car insurance companies?

In this case, the top 10 care insurance companies were determined by how many policies each company has written and how many claims each company successfully paid to their policyholders.

This information is collected from insurance companies as well as through rating companies such as A.M. Best and Standards & Poor’s.

An insurance company that continues to grow each year because they are writing more policies tends to be financially strong, which is an important element when choosing an insurance company.

In addition, companies that experience growth have a good reputation, and people want to do business with companies that have a good reputation.

You also want to choose a company that has a strong claims payment rating. If you have an accident, your insurance company is going to be more likely to pay your claim.

Now, it is important to note that none of these ratings are based on the affordability of each company.

Should I buy my insurance from one of the top 10 car insurance companies?

Here are some things to consider, however. First of all, State Farm and Allstate are well known for being the more expensive choices for auto insurance and as you can see, they are the top two ranked companies by III.

Some of the other companies don’t sell insurance in every state, making it impossible for some people to consider them.

In addition, just because some companies aren’t on the list doesn’t meant that they aren’t excellent choices.

With over 100 auto insurance companies in the US, you don’t have to choose from the top 10 list to make a good choice.

The bottom line is that if you choose one of the companies on the top 10 list, then you are likely, but not guaranteed, to be happy with your entire experience.

Is there a most affordable top 10 car insurance company list?

Unfortunately, there is no official list of for the top 10 most affordable auto insurance companies.

However, we found these three companies are often listed the most affordable:

  • Geico
  • Progressive
  • Esurance

Unfortunately, there wasn’t much consistency when it came to other companies. Of course, definitions of cheap car insurance are subject to opinion and income.

Fortunately, you don’t need a top 10 list to find the most affordable companies.

Instead, you need to use our free quote tool and get quotes from the companies that have the most affordable plans for you.

Enter your zip code right now and get your online car insurance quotes!

References:

  1. http://www.iii.org/
  2. http://www.iii.org/fact-statistic/insurance-company-rankings
  3. http://ambest.com/
  4. http://www.standardandpoors.com/home/en/us
  5. https://www.statefarm.com/
  6. https://www.allstate.com/
  7. https://www.geico.com/
  8. https://www.progressive.com/experience/home-z/
  9. https://www.esurance.com/