Top 5 Best Car Insurance Companies

Finding a good car insurance policy can be a challenging task within itself, but do not despair, we make it simple. We have summarized a list of some of the top rated or best car insurance companies.

Geico

Availability: 50 states

Year Established: 1936

A.M. Best Ratings: A++

If you are looking for the best car insurance policy, Geico should be your first choice.

You can get six standard type of Car Insurances from Geico including:

Liability

Collision

Comprehensive

Medical Payments (MedPay)

PIP (Personal Injury Protection)

Motorist Coverage (Uninsured/underinsured)

Many additional add-on coverages options are also available in car insurance policies offered by the Geico such as:

  • ERA (Emergency Roadside Assistance)
  • MBI (Mechanical Breakdown Insurance)
  • Rideshare Insurance
  • Rental Reimbursement

For your satisfaction, the A++ (superior) rating of Geico by AM Best is enough to mention. This rating provides a complete satisfaction that this insurance company is stable financially than smaller and local companies.

Geico pays of its 99% of customer’s insurance claims due to a very strong financial backing. The customer service quality is also best at Geico according to the J.D. Power 2020 U.S. Auto Insurance Satisfaction Study.

Geico provides the most affordable rates you have ever seen. It also provides you a number of ways through which you can save your money on premiums like a good driver discount with which you can save up to 26% on your premiums.

A good student discount and a multi-vehicle discount is also offered by Geico through which you can save up to 25% of the money.

USAA

Availability: 50 states

Year Established: 1922

A.M. Best Ratings: A++

USAA is considered the best car insurance company for Military families. It is known for perfect customer satisfaction throughout the country.

You will get affordable coverage options from the USAA including accident forgiveness with high customer value. However, the eligibility requirements are somewhat strict in the case of USAA.

As we have discussed earlier that the USAA is available for military families, it usually greatly restricts who can purchase the coverage.

You should immediately go for USAA car insurance policy if you are eligible because it offers many coverage options such as:

  • Roadside Assistance
  • Rental Car Reimbursement
  • Accident Forgiveness
  • Glass Coverage
  • GAP (Guaranteed Asset Protection)
  • CRA (Car Replacement Assistance)
  • Rideshare Insurance

Apart from an A++ rating from AM Best, USAA also received an A- rating from the Better Business Bureau (BBB).

Currently, USAA is almost 6% of the whole market share according to the NAIC. In 2020 alone, USAA has mentioned $15.23 billion in terms of auto insurance premiums.

Progressive

Availability: 50 states

Year Established: 1937

A.M. Best Ratings: A+

Progressive is the best car insurance option for you if you are less than 21 years and have recently received a DUI/DWI.

The best thing about Progressive is that it offers the lowest possible rates for high-risk drivers. High-risk drivers mean such drivers which are susceptible to several moving violations.

Apart from standard types of car insurance, Progressive offers the following add-on coverage options:

  • Rideshare coverage
  • Customer equipment and parts value
  • Loan/lease payoff
  • Roadside assistance
  • Rental Car reimbursement

Progressive has strong financial stability due to which it pays all customer’s claims regularly. It writes almost $31 billion averagely in premiums every year according to the NAIC.

You can avail of multiple car insurance discounts with Progressive. It also offers a few tools which you can utilize to lower your premium rates.

Most of these discounts are usage-based. Snapshot Program is the best example in this regard. It is actually a mobile app that tracks your driving habits and records them.

If you have a safe driving behavior, you can save up to 25% on the premiums. According to Progressive, the drivers save up to $145 on average on their car insurance policies every year.

State Farm

Availability: 48 states

Year Established: 1922

A.M. Best Ratings: A++

State Farm is another the best car insurance provider which particularly perfect for Students. Apart from the standard types of coverage, State Farm offers some additional coverage options as well such as:

  • Emergency Road Service Coverage
  • Car Rental Coverage
  • Travel Expenses Coverage
  • Rideshare Coverage

State Farm received an A++ (Superior) ratings from AM Best. According to the NAIC, the contribution of State Farm is 16.14% in the overall auto insurance market share in 2020.

However, State Farm also accounted for 3.09% of customer complaints which is slightly high than other car insurance providers.

You might be thinking that why State Farm is the Best for Students. Well, it is due to the usage-based and safe driving discounts offered by the State Farm to young drivers.

Both these discount programs are available through mobile apps. State Farm is not available in state of Massachusetts and Rhode Island.

Liberty Mutual

Availability: 50 states

Year Established: 1912

A.M. Best Ratings: A

Liberty Mutual is another best car insurance company for young drivers. You can avail competitive rates and discounts on buying car insurance policies.

Many of these discounts are especially available for young drivers.

There are several other coverage options alongside standard car insurance types, like:

  • Roadside Assistance (24-hours)
  • Rental Car reimbursement
  • New Car Replacement
  • Better Car Replacement
  • Auto Loan/lease with guaranteed asset protection
  • Original Parts Replacement
  • Liberty Mutual Deductible Fund

Liberty Mutual offers a number of discount options such as savings for homeowners, good students, and for accident-free drivers.