Wondering which of the auto insurance companies out there are the biggest? It's not to hard to realize that these insurance companies are pretty mammoth in size, and that there's tons of money to be made in the auto insurance industry. The most obvious signal is how much they all spend on advertising. Almost every commercial break you see on TV has an ad for car insurance. Let's take a look at which companies are the biggest heavyweights in the United States:
# 1 Mutual Automobile Insurance Company – In their advertising they boast that they have more customers than both Progressive and Geico. This fact is true and they are the largest of all the auto insurance providers out there. They almost write more premiums than the next two contenders combined. This can be important when considering which car insurance company you're going to go with. You want to to make sure they have enough financial stability to cover the costs of any claims you file. Also a long-running history shows that they are established and not in danger of going out of business. They have been around since 1922 and they don't look like they're going anywhere any time soon.
# 2 Allstate – The next-biggest company is Allstate and they've been around almost as long as the champ. Their "you're in good hands" advertisements have been running for decades and they are still using it today. While they don't have as much revenue as their biggest competitor they have more total assets so they are just as financially stable.
# 3 Progressive – One of the newer auto insurers is progressive and they gained their market share with a clever advertising campaign that promised to show their rates as well as the rates from the other companies. This was something that had never been done and getting insurance rates used to be a big hassle. By providing a one-stop way for people to get the rates from all of the companies they provided a sense of value and were able to lure new customers.
# 4 Geico – A relative newcomer, Geico has gained a steady stream of new customers due to its catchy advertising (the gecko). Their parent company is Berkshire Hathaway, Warren Buffet's company so you know they're not short on cash. You can also feel confident that they're well-managed and earning their investors a healthy return.
Getting accurate numbers on these companies can be hard, because they don't simply do car insurance. Each of these providers have additional revenue streams from home and life insurance a well. The size of an car insurance company is just one of the factors that you'll want to consider when looking for coverage. You'll also want to check out their reviews and ratings and see which ones.
