With more than 18% of the market share, State Farm is the largest automobile and home insurer in the U.S. It has more than 18,000 agents spread across its nationwide network and an extensive menu of more than 100 services, so it’s easy to see why so many drivers turn to State Farm for their insurance needs. This carrier offers multiple discounts on auto insurance, including:
- Accident-free discounts
- Defensive driving course
- Drive Safe and Save
- Having a homeowners policy
During a 2016 State Farm review, J.D. Power ranked State Farm as above average in overall satisfaction. A.M. Best ranks it as superior in financial strength. On the downside, you have to go through a State Farm agent to get a policy, and the agents don’t offer any information about competitors who may provide policies with more favorable terms.
Total assets: $241.183 billion USD
Services: Insurance, Banking, Investing
Net income: $2.2 billion USD
Revenue: $87.6 billion
If you prefer managing your account online rather than in-person, Geico may be an excellent option for you. Geico offers some of the lowest prices on auto insurance in addition to simple online applications and account management tools. Some of the other features that make Geico stand out include optional coverage types such as mechanical breakdown, emergency roadside assistance and rental reimbursement.
During a 2016 Geico review, J.D. Power ranked Geico as average in overall satisfaction. Both A.M Best and Standard & Poor’s rate Geico highly for its financial strength.
Number of employees: 38,000
Key people: Bill Roberts
Revenue: $25.483 billion USD (2017)