Insurance companies are the lead players who help the American economy by covering the cost of accidents. Even so, these car insurance companies are always involved in a fierce battle against each other for share market in the US and abroad. No matter what kind of automobile you drive or how often you drive it, you just need to have car insurance. Out of 50 states, 48 states have a law to have car insurance. Moreover, you need to be prepared in the unfortunate case of an accident. In most general car insurance policies, they will provide you with bodily injury liability coverage or protection against property damage if an accident occurs. Some car insurance companies provide insurance coverage options that include roadside assistance or can be bundled up with home insurance if you have one. Here are the top three car insurance companies in the USA:
State Farm being the largest car insurance company in the U.S. possesses 16% of the available market share. More than 15% of dollars spent on private passenger vehicle premiums in the U.S. and is paid to the State Farm. Approximately 60,000 employees and nearly 19,000 agents employ in State Farm. State Farm is owned by its policyholders as it is a mutual insurance company. Among the entire vast car insurance company list, State Farm provides the cheapest car insurance rates in the U.S
GEICO is well known for its advertisements featuring an animated gecko. GEICO has served as an underwriter to more than 16 million auto policies, which insure over 24 million vehicles. The company’s size allows it to employ more than 40,000 people across nine regional offices, three service centers, and three claims centers. GEICO’s original customer base consisted of U.S. government employees and military personnel. Recently, the insurance company’s customer base has expanded to recruit people in the private sector. For college students, GEICO turns out to be the best insurer according to the research of the largest auto insurance carriers.
Progressive is the third biggest insurance company in the United State which was established in 1937. The company provides the ability to purchase auto insurance in person, online, or by phone. The company provides more than 400 offices and employs over 35,000 people. Progressive is a publicly-traded company.
Among all the humongous auto insurance companies out there in the US, it’s still very important to pick a carrier that’s best for your unique situation.
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