Best US Car Insurance

Posted on 27 January 2012 by Tony Santos

In most of the States you have a choice of over 100 car insurance companies, so it can be a little tricky deciding which one is the best to go with unlike in the UK, there’s Aviva!

However, even with all that choice, the big guys still get most of the business. The Insurance Information Institute of America publishes a list of the Top 10 car insurance companies by market share.  And those top ten have more than 68% of all the insurance policies for autos in the States.

When trying to decide which company to insure their car with, consumers don’t just look at the quotes they get back from them, they also consider the insurance company’s reputation and how trusted a company they appear to be. It stands to reason that the big companies will have the big reputations to go with their massive client lists, so it’s a bit of a chicken and egg situation – they continually get more of the business as they have most of it in the first place.

The last Top 10 round-up was carried out in 2009. State Farm had the largest piece of the market share – with 18.6%. It was followed by Allstate with 10.5%, GEICO with 8.2% , Progressive at 7.5% and Farmers at 6.4%.  Places six to ten went to Nationwide Mutual, Liberty Mutual, USAA, Travelers and American Family Mutual.

It’s difficult to say which insurance company is the cheapest as some companies will charge more to insure certain types of car. Hybrids, for example, can come with high premiums at one insurer and much lower ones at another, if they happen to have a special policy for hybrids and other alternatives.

Many of the traditional giants of insurance world are feeling the pressure of upcoming online-only operations, who can undercut them when looking to insure the exact same Honda, Ford or Chevvy, as they have lower overheads in comparison. For now, what the big names have behind them that keeps their customers returning is their reputations.

Probably your best bet is to find a good car insurance comparison website and check current offers in your state. There can be huge price differences between two companies that are offering identical policy coverage. Shopping around and comparing quotes is one of the quickest and easiest ways of finding the best prices and coverage. As mentioned above there are at least 100 auto insurers in any state in America. If you want to be insured by one of the top ten carriers you can still manage it affordably.

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