Top 10 Insurance Companies - How to Choose
How to choose the best insurance company? Of course, you can use your own list of criteria, or someone else’s, but there are many tried and true methods to evaluate which insurance company would be the best option. This article will give you all the information you need in order to make an informed decision when it comes to choosing an insurance company and policy that matches your specific needs and financial situation. The top 10 best insurance companies of this decade are reviewed here, along with how to choose the best one for you and your family.
The Allstate Corporation is an insurance provider based in Northbrook, Illinois. The company was founded in 1931 and has been a member of Fortune 500 since 1998. It employs over 46,000 people worldwide and has operations in 22 countries across five continents. Its revenue topped $28 billion in 2015. The company maintains its status as one of America’s top-selling insurers by focusing on customer service and innovative policy offerings through strategic acquisitions and partnerships.
USAA has a reputation for being one of America’s most beloved companies. This reputation is well-deserved; when it comes to customer service, USAA is an industry leader. The American Customer Satisfaction Index awarded USAA its highest possible rating of 90 (out of 100). If you’re looking for a reputable and friendly insurance company, you can’t go wrong with USAA.
#3. State Farm
State Farm is one of America’s largest home insurers, as well as its largest car insurer. The company sells insurance products in every state, along with financial services and mutual funds through more than 500,000 independent agents. And it has a proven track record: According to JD Power's 2016 U.S. Home Insurance Study—which surveys customers about satisfaction with their current provider and overall market satisfaction—State Farm is at the top of its class.
Progressive offers insurance policies for auto, home, life and business. It has been in business since 1937, is located in Ohio and is still run by its founders John and Peter Lewis. It has more than 11 million customers across all 50 states. Progressive acquired GEICO for $2.3 billion in 1996.
#5. Liberty Mutual
With over $17 billion in revenue, Liberty Mutual leads as one of America’s largest property and casualty insurance providers. It has a global reach of over 54 million customers, including 140,000 employees worldwide. They offer a full line of business solutions and services including personal auto, home, commercial property & casualty insurance. Liberty Mutual is one of most popular companies among car owners. As a top 10 insurance company it was founded in 1912 by American social reformer and politician Lucy Larcom for all US drivers.
Farm insurance is a very comprehensive, general plan that protects your farm from most types of natural disasters. It’s typically an expensive plan but may also cover things like drought, frost, and animal epidemics. When you’re figuring out what type of coverage you need, it’s important to consider whether or not you live in an area prone to these events. That will help determine how much money you need in coverage and whether or not specific plans will be best for your individual situation. For example, if your location isn’t prone to severe weather, a fire insurance policy may be unnecessary.
#7. Nationwide Insurance
Nationwide is headquartered in Columbus, Ohio. It employs over 28,000 people and has operations in 54 countries. The insurance company offers everything from auto insurance to homeowners and commercial coverage as well as life insurance and annuities. It was founded in 1929. Nationwide's current slogan is: Nationwide is on your side.
Esurance may not be a brand you’re familiar with, but it’s certainly an insurance company you need to know about. The company has come out on top in many of J.D. Power’s most recent customer satisfaction studies, largely thanks to its consistently speedy and thorough claims processing procedures. There’s no substitute for speed when it comes to managing your car insurance risk, so Esurance is especially useful if you live in a state with strict rules around what counts as prompt handling of claims—like New York or Texas. (Note: This pick is for individual customers only; business-owners should check out our selection of best business insurance companies.)
MetLife's United States branch is based in New York, and offers life insurance, disability insurance, health insurance and annuities. The company also offers home and auto insurance policies through select independent agents. MetLife has $1.3 trillion in assets under management worldwide (as of 2013). Through its brand name you may have heard of MetLife Stadium, which is home to both U.S. football team New York Giants and U.S.
#10. Pekin Insurance
With roots dating back over 100 years, Pekin Insurance has a long track record in many different markets. Their lines of business include commercial, financial services, life insurance and annuities. The company operates in 16 states across various regions of America. Although still relatively small in size when compared to some other major players in their industry, Pekin is a prime example of a mid-sized company who has developed an innovative model for success that combines strong traditional underwriting techniques with forward-thinking technology. Pekin also regularly provides support for community events and organizations along with sponsoring local sports teams and recreation centers that benefit their local communities on a regular basis; another reason why so many people continue to choose them as one of their top options for all types of insurance needs.