Top Insurance companies in US
You never know when an accident will happen, which is why it's so important to be prepared. Deciding on which insurance company to go with can be confusing and difficult, but there are some factors that you should consider. Certain companies are better for specific types of insurance, so you'll want to look at each company and see what they offer. Are they an international company? Do they have offices close to your home? Do they offer a variety of services? These are all things that you should take into consideration when finding the best insurance company for you. The following 10 companies are ranked by their customer service reviews, ratings and awards.
State Farm
State Farm, founded in 1922, is the largest property and casualty insurance company in the U.S. by premium volume. The mutual company has more than 85 million policies and accounts throughout the United States and Canada, and over 58,000 employees and 19,000 direct agents. State Farm is ranked No. 31 on the 2018 Fortune 500 list of the largest United States corporations by total revenue.
Berkshire Hathaway
Berkshire Hathaway is a conglomerate with more than 60 companies, including GEICO, Duracell, Dairy Queen and BNSF Railway. The company also has major holdings in such companies as Wells Fargo, American Express and Apple. It was founded by the legendary investor Warren Buffett.
In 2020, the value of premiums written amounted to almost 58.5 billion U.S. dollars
Progressive Group
Progressive Group of Insurance Companies, which is comprised of Progressive Casualty Insurance Company, has offered consumers auto insurance since 1937. It was founded by Joseph Lewis and Jack Green in an apartment in Mayfield Village, Ohio.
The company is largely known for its use of a quote comparison tool on its website that allows consumers to compare rates from other insurers and receive a quote directly from the company.
Progressive offers more than just auto insurance as it also provides homeowners, motorcycle, RV, watercraft, business and commercial vehicle insurance as well as life and annuity products.
Geico
Geico is an auto insurer that provides coverage for more than 27 million motor vehicles owned by more than 15 million policyholders. Geico was founded by Leo Goodwin Sr. and his wife Lillian Goodwin in 1936. The company has been a wholly owned subsidiary of Berkshire Hathaway Inc since 1996.
Geico has its headquarters in Chevy Chase, Maryland and has over 36,000 employees with a revenue of $33 billion. In 2016 it was named by Fortune magazine as one of the 100 Best Companies to Work For for the 12th consecutive year.
Liberty Mutual Group
Liberty Mutual Group was founded in 1912 with the merger of several small insurance companies. Today, it is one of the largest property and casualty insurers in the world, with over $38 billion in revenue as of 2018. Liberty Mutual Group's CEO is David Long, who was appointed to his position in 2011.
Allstate Corporation
Founded in 1931, Allstate Corporation is a public company that trades on the New York Stock Exchange under the symbol ALL. As of 2018, Allstate had over $44 billion in revenue and a workforce of more than 44,000 employees. The company's current CEO is Tom Wilson, who was appointed to his position in 2007.
The Travelers Group
The Travelers Group is an insurance and financial services company based in New York City. The company was founded in 1863 by James Batterson. Travelers is one of the largest insurance companies in the United States and also sells many other financial products, including mortgages, bonds, and annuities. The company is ranked 112th on the Fortune 500 list.
Chubb
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.
The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
As of February, 2021 full-year consolidated net premiums written were $33.82 billion.
The Hartford
Hartford is a Fortune 500 company. The Hartford is among the world's largest investment and insurance companies, with assets of $70.18 billion as of December 31, 2018, and more than 10 million customers, including individuals and businesses in the U.S., Canada, and Japan. Written premiums in fourth quarter 2020 were $673 million compared to $714 million in fourth quarter 2019.
The company's property and casualty business sells a wide range of insurance policies to individuals and businesses through independent agents in all 50 states. Its various subsidiaries offer retirement plans for employers and employees, employee benefits plans for small- to midsize businesses and benefits programs for educators.
Farmers Insurance
Farmers Insurance is one of the most popular insurers in the country. The company offers a variety of coverage options, including auto, property, life and commercial insurance. Farmers also offer other financial products like mutual funds and banking services.
The company is best known for its auto insurance offerings. It offers coverage for a wide range of vehicles (including motorcycles and RVs) and drivers (including high-risk drivers).
If you're looking for coverage or other financial products from a trusted brand, Farmers could be a good choice.
What are the best insurance companies in the USA?
Conclusion
This article provides a brief introduction to the top 10 insurance companies in the US and the services they offer. This list is useful for both those who are looking for a new insurer and for those who are interested in understanding what is available.
