The Top 10 Insurance Companies in the United States
How much insurance should you carry? What kind of insurance coverage do you need? These are just some of the questions most people consider when shopping around for the best insurance companies in the United States. If you’re looking to compare, check out this list of the top 10 insurance companies in the country, including their contact information and coverage details so you can start making an informed decision about your own insurance coverage needs today!
Founded in 1931, Allstate Insurance is one of America’s leading insurance providers and Fortune 500 companies. The company, which has a subsidiary responsible for all of its operations outside of North America, offers auto insurance coverage to more than 100 million people and operates in more than 15 countries around the world. In 2014, Allstate generated revenue of $26 billion. That same year, it was ranked No. 1 on Fortune's list of Most Admired insurance companies and named one of America's Best Employers by Forbes magazine for a 12th consecutive year. In addition to offering auto policies as part of its product line (the company insures everything from cars to boats), Allstate also handles home insurance and property management services.
2) State Farm
Established in 1922 by retired farmer and future US president, Franklin D. Roosevelt, State Farm is one of the biggest insurance companies in America today. Based out of Bloomington, Illinois, it employs over 51,000 people and is valued at $56 billion dollars. It has over 20 million customers across multiple countries; from 2006 to 2012 alone it expanded from $90 billion to $121 billion in revenue per year.
Nationwide Mutual Insurance Company is one of America’s top insurance companies. It was founded in Ohio over 80 years ago and currently operates in 46 states, offering property and casualty insurance. Nationwide is also a part of a larger conglomerate that owns multiple other insurance companies, including NISC, AISI, Allied Insurance Company, Mercury Insurance Group and several others. Nationwide offers commercial auto, health and life insurance as well as home and small business insurance. The company has offices throughout America but also has operations internationally through its affiliated companies. In 2015, it ranked fourth on Forbes’ list of Best Employers and Fortune Magazine named it America’s Most Admired Property & Casualty Insurer that same year. In 2016 it ranked No.
4) Liberty Mutual
Liberty Mutual Insurance is a Boston-based company and one of the largest auto insurers in America. The company also offers insurance for homes, boats, motorcycles, bicycles, renters and business liability policies. Its commercials are popular with consumers—and not just because they’re funny. Liberty Mutual offers competitive rates and innovative products such as Apple watch tracking devices that detect falls and send alerts to family members if you haven’t moved after a certain amount of time. The company has consistently been voted one of the top 20 companies to work for by Fortune magazine. In addition to its home office in Boston, it has offices across 39 states and employs over 40,000 people nationwide. Their headquarters alone is home to 1,500 employees.
5) Farmers Insurance Group
Farmers Insurance Group, Inc. (Farmers) provides insurance products and services in more than 50 countries and territories through approximately 24,000 exclusive and independent agents and approximately 7,100 employees. In 2013, Farmers' total revenue was $24.6 billion worldwide; its U.S. revenue of $18 billion represents approximately 67% of its global income. The company's home office is located in Los Angeles with regional offices across North America.
The progressive insurance company, formally named Progressive Insurance Company, was founded by a man named Jack Greenfield. Greenfield’s idea for an insurance company that specialized in auto policies came after his wife was involved in an accident which resulted in her losing their vehicle. After settling his wife’s claims with his own personal insurer and realizing that he couldn’t find a policy on another vehicle for under $700 per year, he decided to set up shop to provide more affordable policies. Since then, Progressive has established itself as one of America’s top auto insurers and remains a household name today.
7) Erie Insurance Group
Founded in 1903, Erie Insurance Group is one of America’s oldest and largest insurance companies. By staying true to its roots, Erie has become one of North America’s most respected providers of property and casualty insurance. The company offers a diverse range of coverage options that include car insurance, motorcycle insurance, life insurance, renters insurance and business insurance. Customers can also access Esurance Financial Services for loans, investments and credit cards. Based out of Erie, Pennsylvania, Erie Insurance employs nearly 6,000 employees across eight states—Illinois, Indiana, Iowa, Kansas*, Michigan*, Missouri*, Ohio* and Pennsylvania—and distributes products to customers across all 50 states through independent agents or brokers.
8) America Mutual Insurance Company
Nationwide Mutual Insurance Company (United Services Automobile Association) provides insurance to companies, individuals and families. Its services include life insurance, disability income insurance, accident insurance, long-term care insurance and Medicare supplement plans. The company also offers a range of banking products and services through banks it owns as well as other financial institutions. It has approximately 31 million customer policies throughout 46 states, Washington D.C., Puerto Rico and Canada. Nationwide Mutual Insurance Company (United Services Automobile Association) is a wholly owned subsidiary of Nationwide Mutual Holding Company, Inc.
9) Chubb Corporation (The Hartford Financial Services Group, Inc.)
Also known as USAA, Nationwide Mutual Insurance Company is based in Texas and has been an insurance provider since 1922. USAA offers home, life, auto and renters insurance to members of Armed Forces. The company ranked third overall on Forbes’ 2015 list of America’s largest private companies and ranked first on America’s Best Employers. USAA has also been named a Military Friendly Employer by G.I. Jobs Magazine since 2007. It employs more than 17,000 people worldwide and had $27 billion in revenue last year according to Forbes. Nationwide was founded as United Services Automobile Association after it was acquired by Grange Insurance Society of Columbus, Ohio.
10) Nationwide Mutual Insurance Company (United Services Automobile Association)
Nationwide Mutual Insurance Company (Nationwide) is an American insurance company, and is one of the largest and best-known companies offering mutual insurance. As of 2012, it was ranked #1 on Fortune’s list of America’s largest corporations and #27 on Forbes' Global 2000 list of public companies. Nationwide currently has over 9 million customers. Its subsidiaries include Regent Insurance Company and Allied Insurance Company. Its headquarters are located at One Nationwide Plaza in Columbus, Ohio.