Agency Insights: The Top 5 Insurance Companies in the USA 2022
Many of us are aware that the insurance industry has been undergoing some major changes in the last few years, including an influx of new businesses, mergers and acquisitions, and growing market competition.
This can be both good and bad for customers; on one hand, it means we have a wide variety of choices when purchasing insurance policies, but on the other hand, this also means there’s more to consider as we look to find the best coverage available at the most affordable price.
1) Progressive
They have a wide variety of personal insurance options to meet your needs, as well as commercial insurance for your business. Progressive is among one of the largest companies that sell car insurance - they insure 4 out of 10 cars on America's roadways.
One big reason for their success is that they offer significant discounts to all drivers who purchase their auto policy, not just those with good driving records or excellent credit scores like other major insurers do. To date, Progressive is licensed to sell car insurance in 49 states plus.
Washington DC but does not operate in Hawaii or Oklahoma due to state-mandated agent networks. Progressive’s headquarters are located in Mayfield Village, Ohio and it employs about 14,500 people nationwide. Its focus is on customer service and its.
Reputation for this has led to them being ranked among Fortune magazine's Most Admired list. Progressive doesn't want you to just be satisfied with the quality of its products and services; it wants you to be enthusiastic about them.
Customer satisfaction ratings speak for themselves when it comes to Progressive's success rate. In 2016, they received an A+ rating from J.D. Power and Associates, which studies customer satisfaction in the.
Automotive industry by gathering feedback from existing customers through surveys. Along with the high rankings by J.D., Progressive also ranked highly on Forbes' America's Best Employers list based on employee satisfaction reviews.
The next company that makes up our top five is Farmers Insurance Group of Companies, founded in 1928 by Thomas Fogarty Sr., a former farmer who was looking for an easier way to get his products to market without risking any losses along the way (due to weather conditions).
The company he founded now offers a broad range of property and casualty coverage and distributes through independent agents located throughout North America via private treaty or open market distribution systems. Currently, Farmers operates in most U.S. states including Alaska and Louisiana, as well as in six Canadian provinces.
Founded in 1948, State Farm is one of the largest life insurance providers and financial institutions headquartered in Bloomington, Illinois.
Originally known as State Farm Mutual Automobile Association (founded in 1922), the company changed its name to State Farm Insurance Company upon becoming a mutual company owned by its policyholders instead of stockholders.
Now known simply as State Farm®, it provides automobile, home, health and life insurance plans alongside investments and banking services for individuals worldwide through local branches known nationally for popular television commercials featuring actor George Putnam.
State Farm has more than 88,000 employees and 62,000 agents in the United States. It is the only company on this list that has a AAA+ rated with the Better Business Bureau and is consistently listed as one of Fortune's World's Most Admired Companies. Not surprisingly,
State Farm is ranked at number one in US News & World Report's 2017 Best Insurance Carriers ranking. And it takes pride in its slogan of like a good neighbor.
This translates to it working with others to provide help during disasters such as Hurricane Harvey and Hurricane Irma. Another company that sells insurance is Liberty Mutual. This company has more than $1 trillion in assets and its current president is David Long.
Liberty Mutual was established in 1912 and it has more than 50,000 agents and 80,000 employees. The company not only sells insurance policies, but they will actually sell you a house as well.
Liberty Mutual is not only one of the largest insurance providers in the United States, but it has operations in more than 30 countries and is ranked among Fortune's Most Admired Companies. Finally, we come to The Travelers.
This company was founded in 1864 by a man who would go on to become its first president, Henry L. Stoddard.
The company began as a small fire insurance group and has since grown into an international corporation that sells products for automobiles, homeowners and businesses through agents, as well as underwriting or distributing life insurance or annuities through separate subsidiaries.
Traveler's Agent Services currently ranks as one of the world's largest general lines agencies with more than 30,000 employees and 2,200 offices globally.
It is also ranked #156 in Forbes 500’s, with over 12 billion USD in revenue and 17.5 billion USD in assets. The company has also been a member of the Dow Jones Industrial Average since 1925.
Finally, we have The Allstate Corporation, which is one of the leading personal insurance providers in the country.
Its headquarters are in Northbrook, Illinois and their corporate philosophy is to serve society as a whole and insure people - not just cars.
Allstate's Good Hands advertising campaign has run continuously since 1985 and is one of the longest-running TV ad campaigns in history. It is ranked in the top 10 of the Fortune 500 and, with more than 35 million customers, it is the second largest personal insurance company in the United States.
It's estimated that in 2016 alone, Allstate earned more than 6.9 billion dollars. For example, if someone had a car accident and wanted to file a claim, the customer service representatives would walk them through the process and make sure they knew how to navigate the claims portal.
They'll even talk about what might happen if a storm damaged your property and how much coverage you should get. This is because, in addition to auto insurance, Allstate offers life insurance, homeowner's insurance and more.
Plus, because of their dedication to safety and social responsibility programs, Allstate has been recognized as one of the World's Safest Corporations by Businessweek magazine. In fact,
The Chicago Tribune called Allstate the best place in America to work! But don't take their word for it, give them a call today and see why they were voted the #1 Company to Work For in 2014.
What do you have to lose? Get a free quote from these top 5 companies and find out which policy suits your needs best! For this, I will present three different companies and provide some information about each one.
I've chosen Progressive, Liberty Mutual, and The Travelers as my three choices because they are very large in terms of number of customers and financial size. Allstate will be added to my list at the end.
As the first agency on my list, Progressive is a nationwide business with automobile insurance. Founded in 1937 by brothers Tom, Wilbert, Jack, Johnny Jr., Albert Sr., Robert Sr., William Gifford, Alton Wallace Sr., Ernest Woodrow Worsley II and two others - Sherman Eames Sr.
& Walter Woodruff Jr. - they set out to sell low cost car insurance based on driving record. Today, Progressive provides homeowners, renters, motorcycle and boat policies too.
And their commitment to keeping up with changing technology is unparalleled; for instance, their Snapshot device plugs into a vehicle's onboard diagnostic computer system so that drivers can find out immediately whether or not they need an upgrade (and no driving records necessary).
Their progressive attitude toward finding new ways to innovate has landed them atop many lists such as Forbes' America's Most Trustworthy Financial Companies (2015), FORTUNE 100 Best Companies To Work For (2016), Fortune 50 Most Admired Brands (2017) and more!
This next company, Liberty Mutual, is the third largest insurer in the US with annual revenues of more than 42 billion.
When it was founded in 1912, it was established as a mutual fire and casualty insurance company for Massachusetts. After that, they grew to cover personal lines of insurance as well.
The other states soon followed and before long, they had expanded their services to Canada as well. The name Liberty comes from the idea that everyone has liberty from risk and anxiety when using their services.
2) State Farm
State Farm is a Mutual insurance company with assets of over $68 billion. It has agents operating all over the world, including 18 countries and 25 U.S. states. In 2015 it had more than 24,000 full-time employees and approximately 3 million policyholders.
State Farm is ranked 6th on Forbes Magazine's list of top 50 largest private companies in the US, 4th on its list of top 100 companies worldwide for return on equity (ROE) and 8th on its list of World's Most Valuable Brands.
State Farm has many different products such as auto insurance, homeowners insurance, life insurance, health coverage (health plans), disability income protection and personal financial planning to name a few.
State Farm is known for their customer service and claims processing. They offer traditional payment methods but also allow customers to pay through their smart phone app or online bill payer website.
One thing that sets them apart from other agencies is they offer lifetime discounts, which could potentially save customers up to 20% or more every year!
As one of the biggest insurance providers in the country you are sure to get great service at an affordable price when choosing them as your agent. State Farm’s headquarters is located in Bloomington, Illinois.
It operates across 18 countries and 25 states within the United States. It was founded by George J. Mecherle in 1922 as Mecherle & Sons Co., and later reincorporated as State Farm Mutual Automobile Insurance Company.
It has been publicly traded since 1997. State Farm's most well-known advertising slogan is Like a good neighbor, State Farm is there. Since 1971 this slogan has been used to help promote themselves as a dependable and trusted partner.
Their commercial mainly focuses on how their roadside assistance can help solve simple problems that may arise while driving, while teaching valuable safety lessons along the way.
Some have criticized this ad campaign for making driving seem like an easy activity where no obstacles will stand in your way; others believe these ads teach responsible driving skills.
Regardless of what you think, it is clear that this long running campaign has made State Farm recognizable around the world.
State Farm ranks #6 on Forbes Magazine's list of Top 50 Largest Private Companies in the United States, #4 on its Top 100 Largest Corporations worldwide for ROE, and #8 on its World's Most Valuable Brands.
State Farm provides several services such as auto insurance, home owners insurance, life insurance, health coverage (health plans), disability income protection, and personal financial planning.
You'll be able to find State Farm representatives in almost every state. Customers enjoy State Farm because they offer guaranteed replacement cost, a variety of payment options, personalized attention, 24/7/365 claims service and much more.
With so many benefits offered by State Farm it's not hard to see why people would want to choose them as their agency.
State Farm Headquarters is located in Bloomington, Illinois. It has been in business for over 90 years. State Farm is proud of its 99.9% Service Level Agreement.
That means that 99.9% of the time, State Farm will meet their service level and a person's car, home, health plan and personal finances should always come first.
It has more than 24,000 full-time employees and it has 3 million policy holders. State Farm is the #1 insurance company in the United States. It has over 24,000 full-time employees and it has 3 million policy holders.
It has more than $68 billion in assets. State Farm is a Mutual insurance company. It offers traditional payment methods as well as mobile payments and online bill payer websites to name a few of its conveniences. This company is the number 1 insurer in the United States, according to Forbes Magazine's list of Top 50 Largest Private Companies in the United States,
Top 100 Corporations worldwide for ROE, and World's Most Valuable Brands. State Farm has been in business for over ninety years, and it currently has more than 24,000 full-time employees and 3 million policy holders.
State Farm is a Mutual insurance company that offers traditional payment methods as well as mobile payments and online bill payer websites to name a few of its conveniences. State Farm's most well-known advertising slogan is Like a good neighbor, State Farm is there.
This slogan has been used to help promote themselves as a dependable and trusted partner. State Farm's commercials focus on how their roadside assistance can help with simple problems that may arise while driving, while teaching valuable safety lessons.
There are two sides of this argument, one claiming State Farm makes driving seem too easy, another believing these ads teach responsible driving skills. Either way, State Farm is recognized all over the world thanks to this campaign.
They rank at number 6 on Forbes magazine's list of top fifty largest private companies in the U.S.; 4th largest corporation globally for ROE; and 8th on World's Most Valuable Brands.
3) Allstate
Allstate is one of the top rated insurance companies. They have been in business for more than 75 years and offer competitively priced products to individuals and families who are looking for insurance options. According to their website,
Allstate has over 97% customer satisfaction with many of its clients ranking them as a top insurance company option. When looking at Allstate reviews, people mention that they like how easy it is to contact an agent through phone or email, as well as how helpful agents are when it comes to providing quotes or advice about coverage details.
There is also typically very little wait time before clients can speak with an agent, which has made for a generally positive experience among reviewers. Some even mention that rates offered by Allstate are much lower than those offered by other top rated insurance companies.
One reviewer noted that this was important because he was not sure what his needs were at the moment and wanted to be able to change plans easily if needed. Others felt Allstate was a good choice because of how often they update their site with deals on specific types of policies, such as auto insurance.
One reviewer mentioned how he likes knowing he can go online anytime to find out what the most current deals on auto insurance are without having to call or speak with anyone.
Another mentions how he appreciated being able to get quotes for auto, home, life and health coverage all from one site without having to visit multiple sites in order to get a quote for each type of policy.
One person also shared how she liked the fact that Allstate offers discounts for certain safety features, such as anti-lock brakes. Reviewers liked that discounts are available for things beyond just new purchases.
In some cases, customers will receive money back from their old car insurance policy after purchasing a new one with Allstate.
Several reviewers had comments about other insurers' reluctance to give them adequate information about their car's safety features and rate hikes due to these factors; this was seen as an area where.
Allstate exceeded expectations by offering transparency in regards to these issues. Some people did have negative feedback, however.
One person felt that the value of their premium increased unexpectedly even though they maintained excellent credit history and never caused an accident. That individual went on to say that Allstate told him it was because they considered him high risk.
Other common complaints included representatives not answering phones promptly enough, long wait times on hold and difficulty contacting someone who could actually provide relevant help.
A few reviewers also said that in comparison to other companies, such as Progressive, premiums were expensive with Allstate so despite seemingly low costs for newer vehicles (those purchased less than six months ago), premiums still seemed high compared to those offered by competitors for older cars.
These individuals wished there was a better way to determine the risk of an older vehicle, as they feel that the cost for older cars should be cheaper.
It is clear that Allstate offers a wide variety of services and is considered a reputable, dependable insurance company in the United States. Customers are happy with how quickly they are contacted, as well as how helpful agents are.
The only drawback seems to be higher prices for older cars. However, they seem to be a reasonable price and the quality of service is worth it. Allstate has also consistently provided reliable customer service that makes them a top rated insurance company in the United States.
4) Liberty Mutual
Liberty Mutual provides a competitive offering of personal and commercial coverage to individuals and businesses nationwide. Liberty Mutual has been around since 1906, with around 100 million people benefiting from their offerings.
Their comprehensive product portfolio offers a wide range of insurance options, including auto, homeowners and renters coverage.
They are one of the top five largest property-casualty insurance companies in the U.S., covering more than $100 billion worth of economic losses annually while also paying out more than $6 billion every year in claims payments.
One thing that sets them apart from other insurers is that they provide consumers with tools to review personalized policy information for almost every state.
These include information about individual policies, like auto and home protection plans, as well as downloadable PDFs.
Their customer service team is available 24/7 by phone or email (or through their free mobile app).
Liberty Mutual was recognized as being among the best places to work in America by Fortune Magazine in 2013. Another way that Liberty Mutual stands out is its philanthropic arm, which raised over $2.8 million in donations last year.
Each year, they give back to communities through volunteerism. In 2016 alone, their volunteers contributed 12,000 hours of time and energy at various events across the country.
Additionally, employees who work on specific projects get paid for their time on those projects - many times receiving bonuses as a result.
Liberty Mutual also operates Liberty Union Service Company LLC (LUSCO), a wholly owned subsidiary that sells government surplus property items online.
LUSCO generates revenue to support Liberty Mutual’s charitable endeavors, while giving people access to some really cool stuff! Items include everything from desks and chairs to bicycles and even bulldozers.
LUSCO also handles recycling electronics so you can help reduce waste without sacrificing quality.
Liberty Mutual consistently ranks high in J.D. Power's National Automobile Association (NAAA) survey of customers' satisfaction with their car insurance providers - something that's not surprising considering how much they stand behind their customers when it comes to service and value.
They've won these awards five years running now and were also named one of the most admired companies by Barron's in 2010. Liberty Mutual has offices all over the United States - if you're looking for an agency close to your area, just click here.
5) Nationwide
Nationwide offers a range of coverage, including personal auto and homeowners insurance. Its competitive pricing makes it an attractive option for both cost-conscious consumers and those looking for extra perks like roadside assistance or roadside service for your car.
Nationwide's been recognized as one of Fortune's Most Admired companies for six years in a row.
They offer 100% online shopping and their agents are available 24/7 to help you get quotes, find policies, and answer any questions you have.
In 2013 alone they helped their customers save more than $2 billion on their insurance premiums by applying smart shopping techniques to get them lower rates without sacrificing quality coverage.
In terms of ratings, this company has scored higher with J.D. Power & Associates every year since 2011 when its rankings first started being measured.
They also maintain strong customer satisfaction scores from A.M. Best Company and Standard & Poor's - which both rank the strength and stability of insurance providers' financial condition - indicating that they are financially stable, with excellent long-term prospects to keep delivering what they promise.
Nationwide is committed to helping people live safer lives and be better prepared for anything that life throws their way; whether it be hurricanes, fires or something else entirely unforeseen!
For example, through Nationwide's Neighborhood Emergency Response Team program (NERT), volunteer teams of neighbors are trained in emergency response skills so that they can assist each other during local disasters such as tornadoes.
With nationwide protection and all around good standing, there's no reason not to give these guys a call if you're looking for coverage.
If you're interested in more information about this business agency company and how we operate here at Agent Insights, check out our blog for plenty of insightful information about getting the best deal possible.
If you still need help narrowing down your options, don't hesitate to reach out! Our representatives are always happy to answer any questions you might have.
We'll do whatever it takes to ensure you find the right policy for your needs. If you want to see some interesting features of Nationwide, take a look at their 'Nationwide Selects' packages.
Here, you'll find coverage geared towards specific life events like new driver or new homebuyer. These packages include many different benefits depending on the individual's needs and preferences while still providing top notch protection.
You can even create your own package based on your unique specifications! Plus, with 2 special bonus gifts just for joining--a Travel Gift Certificate worth up to $250 and a Car Sticker--it's easy to see why so many people choose Nationwide.
If you want to get in on the savings too, contact your local agent today. Nationwide's a company that strives to make sure their customers have the best protection for their buck.
They're known for their affordable, reliable coverage and incredible service. Nationwide provides affordable insurance for almost everyone in America- so what are you waiting for?
Give them a call today! Nationwide's a company that strives to make sure their customers have the best protection for their buck. They're known for their affordable, reliable coverage and incredible service.
Nationwide provides affordable insurance for almost everyone in America- so what are you waiting for?
Give them a call today! Nationwide's a company that strives to make sure their customers have the best protection for their buck.
They're known for their affordable, reliable coverage and incredible service.
