Top 5 Insurance Companies For Car in USA
GEICO is the nation’s second largest auto insurance provider. Its usage-based insurance program and accident forgiveness have made it a favorite of good drivers. In fact, GEICO has been named the best auto insurance provider for good drivers in 26 states. In addition to its highly competitive insurance rates, GEICO also offers many other valuable features. Read on to find out more about this auto insurance company. You can choose between GEICO, State Farm, and Allstate.
GEICO
GEICO started out as an auto insurance company for government employees in 1936. Today, they are the second-largest auto insurer in the US. Geico has excellent financial strength ratings from A.M. Best, Moody’s, Standard & Poor’s, and the Better Business Bureau. In addition, GEICO has received a high customer satisfaction rating from J.D. Power, who rated GEICO as one of the top five car insurance companies in the USA.
GEICO’s origins can be traced to 1936, when the company was formed as a government-owned company. Its founder, Leo Goodwin Sr., had worked for USAA for more than a decade and had attained the status of civilian within the organization. Goodwin funded the company’s creation with $25,000 of his own money and another $75,000 from a Fort Worth banker.
State Farm
If you’re looking for an affordable car insurance policy, State Farm may be the best option for you. The company sells policies in all 50 states and has a large local presence. It consistently receives high marks from the J.D. Power annual claims satisfaction study. State Farm is also the cheapest auto insurance company for the average American. The company started as an insurance company for federal employees, but since 1974 has been selling policies to the public. Today, it has a nationwide presence, insuring more than 28 million vehicles in every state and has more than 18 million policies in force.
While State Farm does not offer accident forgiveness, it does offer rental car expenses coverage and a low mileage discount. While this discount is not as good as that of other insurance companies, it is still a worthwhile option if you rarely drive. State Farm has an app for this purpose that is easy to navigate. Its service is also good overall. Some customers report that their experience with State Farm is good, but there are instances when it isn’t the best option for them.
Allstate
Allstate is a big name in car insurance, with a nationwide network of agents. Their agents make it easy for customers to purchase and manage their policies. They also offer a variety of other products, such as home insurance, motorcycle insurance, and renters insurance. The company has a below-average NAIC rating, however, and customers have reported higher rates of complaints against them than other companies of the same size.
Allstate’s auto insurance rates vary depending on several factors, including age, credit score, driving history, and city. Young drivers usually pay more for car insurance than older drivers, but they qualify for insurance discounts after turning 25. If you’re a good driver with an accident-free record, you could receive a refund for the policy if you can prove that you’re not at fault for the accident.
Travelers
When it comes to car insurance, Travelers offers a variety of discounts to keep costs low. These include the Good Student Discount, which rewards customers who have maintained a “B” average in school. You can also qualify for the Hybrid/Electric Car Insurance Discount if you drive a hybrid or electric vehicle. Another way to save money on Travelers car insurance is by enrolling in a driver training program.
In addition to the driver discount, the company offers affinity discounts for employees, members of certain organizations, or credit unions. Additionally, Travelers offers discounts for early quote requests, electronic funds transfers, and timely payments. You may also be eligible for the New Car Discount if you drive a hybrid or electric vehicle. Whether you use a vehicle with advanced safety features or drive responsibly, Travelers is one of the best car insurance companies in the USA.