Many brokers, agents, and policyholders want a clear view of the top 10 insurance companies in America, since carrier size and stability can shape pricing, product choice, and claims experience. Knowing the 10 best insurance companies by market share helps them compare options, explain insurer strength to clients, and align long-term coverage strategies with trusted market leaders.
In this article, we list ten of the best insurance companies in the US in terms of their market share in descending order. Insurance Business also provides a few details about these companies to help you make informed decisions when choosing among these top carriers and their products.
Note that all of this data comes from our own IB+ Data Hub. Subscribe today for more information like this, with much more depth and sortability!
Market share: 12.89%
Number one on the list of top 10 insurance companies in America is State Farm. For all P&C lines, State Farm has the largest share of business in America. It remains a mutual insurance group headquartered in Bloomington, Illinois. State Farm is the largest property and casualty insurance company and auto insurer in the US, in terms of market share and premiums written.
Its core U.S. products are personal auto insurance, homeowners and other property coverages, and life insurance, supported by banking and financial services offerings. Auto insurance is the company's main revenue driver, accounting for about 65% of the property-casualty companies' combined net written premiums in 2024.
State Farm's scale is supported by a very large customer base and capital position. The group services tens of millions of policies across auto, fire, and life lines, and the parent company reported a net worth of about $145.2 billion at year‑end 2024.
Unlike many large carriers that demutualized, State Farm has kept this structure, which its leadership says lets it focus on long‑term customer interests instead of shareholder pressure. It also relies on exclusive, or "captive," agents who sell only State Farm products. The company has about 19,000 agents nationwide, serving tens of millions of policies and accounts.
State Farm markets the idea that every policy includes a dedicated agent, emphasizing personal, local service as a core part of the product experience. The specific promise that each policyholder has a dedicated, exclusive State Farm agent is a key part of how the company differentiates itself.
Following the wind‑down of State Farm Bank, the company entered a strategic alliance with U.S. Bank. Under this arrangement, U.S. Bank assumed State Farm Bank's deposit and credit card accounts.
State Farm agents now have tools to introduce U.S. Bank deposit products and co‑branded credit cards to State Farm customers as well.
Market share: 6.15%
Progressive Group, through The Progressive Corporation, is a US-based insurer headquartered in Mayfield Village, Ohio. The company traces its roots to 1937, when it was founded with a focus on auto insurance and has since built a reputation for pricing innovation and digital tools that help customers compare options and control costs.
Over time, Progressive expanded from auto into other personal and commercial lines. But like State Farm, car insurance remains its flagship product and the main driver of its second‑place position in the US auto insurance market.
Recent financial results show strong growth and solid profitability. In Q4 of 2024, Progressive reported net premiums written of about $18.1 billion, up 20% from the same quarter in 2023. Its net premiums reached about $19.1 billion, up 21%. Net income for that quarter was approximately $2.36 billion, up from about $1.99 billion a year earlier.
This combination of premium growth, technology‑driven pricing tools, and a strong position in US auto insurance helps explain why Progressive is often seen as one of the most successful and influential carriers in the personal lines market.
While other insurance companies offer customers the ability to adjust limits and deductibles, independent reviewers highlight this tool as a unique digital feature. Progressive's tool lets policyholders build coverage based on their budget, not from a fixed template.
Snapshot is Progressive's telematics program that personalizes auto premiums based on actual driving habits tracked via a mobile app or device. Safe driving can earn meaningful discounts (often advertised up to around 30%, though actual savings vary).
Independent reviews consistently note Progressive's competitive pricing and underwriting appetite for higher‑risk drivers, alongside an unusually wide array of discounts. The company says that 99% of auto customers qualify for at least one discount.
Market share: 4.49%
Founded in 1922 and headquartered in San Antonio, USAA has grown into one of top 10 insurance companies in the US. USAA is among the largest personal lines insurance groups, offering banking, investment, and a full suite of insurance products.
Its most popular US insurance products are auto and homeowners' insurance, where USAA ranks among the top-rated carriers. It's also among the top 10 writers of property/casualty business by premiums written, including private passenger auto and homeowners' cover.
The USAA also rates among the top insurance carriers in other states, like Massachusetts and Florida.
USAA offers life insurance, health insurance–adjacent protection through an alliance with Aflac (accident, cancer, and critical illness plans that complement existing health insurance), and other personal coverages.
Independent reviews often highlight its broad coverage options, low auto insurance premiums for qualifying military families, and strong claims experience. One reviewer notes USAA counts among the cheapest car insurance companies, with only a few regional carriers beating its full‑coverage rates.
USAA is a member‑owned financial services and insurance provider focused on the US military community and their families. Membership is open only to those currently serving, those honorably discharged, and eligible family members.
USAA is organized as a reciprocal insurance exchange, where policyholders effectively insure one another and policyholders and underwriters are not distinct. Reciprocal exchanges are not unique to USAA, but few of the largest personal‑lines carriers use this structure at similar scale; USAA is cited as one of the notable reciprocal insurance companies.
On top of that, AM Best assigns USAA's property/casualty and life insurers its highest financial strength rating of A++ (Superior) and a long‑term issuer credit rating of "aaa" (Exceptional), with a "strongest" assessment of risk‑adjusted capitalization. Check out our guide to insurance company ratings to learn more about these ratings.
Independent reviews regularly cite USAA's customer satisfaction and pricing for its eligible population. Bankrate notes that, because of superior financial strength, high customer satisfaction, coverage, and pricing, USAA's home insurance earns a 4.7/5 score.
Many insurers pursue strong service and competitive rates, but USAA's reputation as the default choice for many active‑duty members and veterans, backed by member‑only eligibility and very high ratings, gives it a niche and loyalty level that is not commonly matched.
Market share: 4.37%
Berkshire Hathaway Group is the insurance and reinsurance arm of Warren Buffett's conglomerate, built around three pillars: GEICO, Berkshire Hathaway Primary Group, and Berkshire Hathaway Reinsurance Group. GEICO writes property and casualty policies, primarily private‑passenger auto, in all 50 states and the District of Columbia, and is one of the largest auto insurance providers in the US insurance market.
Berkshire Hathaway Primary Group includes dozens of commercial carriers that sell property, casualty, workers' compensation, and specialty cover across the US, while the reinsurance arm writes large, bespoke treaties on major property‑catastrophe and life/health portfolios.
For US customers, the most visible brands and products are GEICO's personal auto policies and the Primary Group's commercial coverages. GEICO distributes mainly through direct online and phone channels and recently generated an estimated $7.8 billion in underwriting profit in 2024, helped by scale (more than 18 million policies in force) and higher insurance premiums that reflect recent rate increases and better claims trends.
Berkshire's insurance and reinsurance operations generate more than $170 billion of float, or investable premium capital held between the time premiums are collected and claims are paid. This float, drawn from GEICO, Berkshire Hathaway Primary Group, and Berkshire Hathaway Reinsurance Group, is behind the conglomerate's financial strength.
Berkshire runs a broad insurance portfolio that stretches from retail auto to complex reinsurance. Industry analysis describes this portfolio as unmatched in size and resilience.
GEICO sells private‑passenger auto coverage in every US state and in the District of Columbia, mainly through online and phone channels.
Berkshire Hathaway Reinsurance Group is one of the largest reinsurers in the world and takes very high‑limit, tailored treaties and retroactive deals that many carriers do not have the capital to support.
Because of its capital base and float, Berkshire can take on very large risk blocks. This is made possible by its reinsurance arm using a large capital base to accept substantial risks that smaller reinsurers cannot. Examples include major retroactive and loss portfolio deals where Berkshire assumes sizeable long‑tail liabilities in exchange for sizeable premiums and added float.
Analysts describe insurance as the foundation of Berkshire's wider investment strategy, because float finances long‑term investments in listed shares and whole businesses. Instead of investing in surplus assets, Berkshire depends on a different model.
This insurer depends more heavily on a very large, relatively cheap float from profitable underwriting, a long time horizon, and buying significant stakes or full control of operating companies.
Market share: 4.3%
Liberty Mutual Group is a Boston‑based mutual insurer and one of the largest property and casualty writers in the world. Founded in 1912, it started as a workers' compensation carrier and today offers a broad range of insurance products, including personal automobile, homeowners, workers' compensation, commercial multiple‑peril, commercial auto, general liability, global specialty, group disability, fire insurance, and surety.
In the US, its most popular products are personal auto and homeowners insurance on the consumer side and workers' compensation, commercial auto, and package policies for small and mid‑sized businesses. The group also has a sizeable commercial footprint, with an estimated 5% share of US property, casualty, and direct insurance revenue.
Liberty Mutual operates globally and owns, wholly or in part, local insurers in markets across Europe, Latin America, and Asia, helping diversify its book beyond the US. It remains a mutual company at the top level, with a mutual holding company structure that allows it to raise capital while still being ultimately owned by policyholders.
Liberty Mutual started as a mutual and now operates under a mutual holding company structure, which lets it raise capital while remaining ultimately owned by policyholders.
Other mutuals exist, but there are not many property‑casualty insurance groups of this size with a similar product spread and mutual holding structure.
In the US, Liberty Mutual runs its consumer business under both the Liberty Mutual and Safeco brands. Passenger auto, homeowners, life, annuity, and other personal P&C products are sold through the US Consumer Markets line, branded as Liberty Mutual Insurance and Safeco.
Liberty Mutual uses:
a network of more than 2,300 sales professionals for Liberty Mutual and Safeco products
over 10,000 independent agencies carrying Safeco‑branded products
call centers, third‑party producers, and a company website
Liberty Mutual has a sizable specialty and international operation. The Global Specialty or Global Risk Solutions segment offers commercial and specialty products such as marine, energy, aviation, professional liability, and crisis management through Liberty International Underwriters offices worldwide.
Market share: 3.92%
Allstate is widely recognized for its long‑running "You're in Good Hands with Allstate" brand and a multi‑brand, multi‑channel strategy that targets different consumer segments. This carrier is composed of the flagship Allstate brand for agency‑advised customers, Esurance (historically) for self‑directed, brand‑sensitive buyers, and Encompass through independent agents.
Allstate Insurance Group, through The Allstate Corporation, is one of the largest publicly held personal lines insurers in the United States, with operations in both the US and Canada. Its most popular products are private‑passenger auto and homeowners' insurance, sold mainly through the Allstate Protection segment via agencies, call centers, and the internet. Allstate also offers life insurance, retirement and investment products, and voluntary accident and health cover under its financial businesses, along with specialty policies for motorcycles, boats, and small businesses.
This mix of scale, brand recognition, and coverage across auto, home, and life lines helps explain its position as a leading personal lines insurer in the US market.
Allstate runs multiple telematics programs, including Drivewise and Star Driver under the Allstate brand, and DriveSense and DriveSafe under Esurance. Each program uses driving data to adjust pricing or rewards. Although other insurers offer telematics, Allstate's mix of several programs across several brands makes this product unique.
Market share: 3.88%
Travelers Insurance Group is a US-based property and casualty insurer that focuses on auto, home, and business coverage and operates three main segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance. The group traces its history to the mid‑19th century, including an 1853 predecessor and the creation of early accident insurance for travelers.
For US customers, Travelers' key product lines include commercial multi‑peril, commercial auto, general liability, workers' compensation, and personal auto and homeowners' policies.
Travelers ranks among the top five companies by market share in four major US product lines (commercial multi‑peril, commercial auto, general liability, and workers' compensation) and holds the leading position in workers' compensation and commercial multi‑peril based on 2024 US statutory direct written premiums. It is also the only property‑casualty insurer included in the Dow Jones Industrial Average and reported approximately $46.4 billion in revenue in 2024.
EMBED:
Travelers is a top‑five carrier by US market share in commercial multi‑peril, commercial auto, general liability, and workers' compensation. Other insurers compete in these lines, but few have that combination of top‑tier positions across all four at once. This makes Travelers one of the most concentrated, large commercial carriers in the US.
Travelers organizes its business into three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
Business Insurance provides a broad set of commercial property and casualty products in the US and selected international markets.
Bond & Specialty Insurance offers surety, fidelity, management liability, professional liability, and related risk‑management services.
Personal Insurance covers auto and home and related personal risks in the US and Canada.
While not a product feature, this highlights how the market sees Travelers. This carrier is considered a large, relatively stable P&C name with a strong commercial franchise, distinct enough to represent the sector in that index.
Market share: 3.58%
Chubb remains the top insurer for large corporations, second for middle‑market companies, a top‑five excess and surplus lines underwriter, and the largest crop insurer in America. On the consumer side, it is the leading US personal lines carrier focused on high‑net‑worth clients. It is often used as a benchmark for high‑value home, auto, and valuables coverage where average annual premiums are higher but tailored to larger assets.
Chubb's operating insurance companies carry strong financial strength ratings of AA from S&P and A++ from AM Best, which indicate a very strong ability to pay claims. The group operates in 54 countries and territories and writes commercial and personal P&C, personal accident and supplemental health, reinsurance, and life insurance, giving it a broad and diversified platform for both US and global clients.
EMBED:
Chubb is described as the leading US personal lines insurer focused on high‑net‑worth individuals and families. It positions itself as a premier provider of high‑value home, auto, valuables, recreational marine/aviation, and umbrella liability coverage for affluent individuals and families in the US, Canada, and selected international markets.
Chubb has operations in 54 countries and territories. Its portfolio includes commercial and personal P&C, personal accident and supplemental health, reinsurance, and life insurance. Its core operating carriers carry financial strength ratings of AA (S&P) and A++ (AM Best).
Market share: 2.96%
Farmers Insurance Group is a US-based group of insurers focused on personal and small commercial lines, with its core offerings in auto, home, life, and small business insurance. The group is built around three reciprocal exchanges (Farmers Insurance Exchange, Fire Insurance Exchange, and Truck Insurance Exchange), which are managed by Farmers Group, Inc. as attorney‑in‑fact for their policyholders.
Farmers' most common products are personal auto and homeowners' policies, plus umbrella, motor home, boat, vacation home coverage, and small business packages. Farmers also sells term, whole, and universal life insurance through its life companies.
The business dates back to 1928, when it was set up to insure farmers and rural drivers who were seen as lower‑risk than typical urban motorists. Farmers has since expanded into a national multiline group serving a broad customer base. This carrier distributes through a large network of exclusive and independent agents, supported by direct‑to‑consumer channels such as its 21st Century unit.
Farmers began in 1928 to insure farmers and rural drivers, who were seen as an overlooked and lower‑risk segment, and later expanded to a broad personal and small‑business book. Today, its focus remains in insurance for automobiles, homes, and small businesses, plus life products.
This history and focus do not make Farmers unique on its own, but they help explain its role as a broad personal‑lines and small‑commercial carrier with reciprocal exchanges and a very large agency presence, rather than as a global multi‑line or a direct‑only insurer.
Farmers relies on a large field force and a separate direct‑sale brand, which includes:
over 48,000 exclusive and independent agents and 21,000 employees
21st Century Insurance, which sells personal auto coverage across the US through online and direct‑response marketing
Other insurers mix agents and direct sales, but this pairing of a large agency system with a distinct direct auto brand inside the same group is a key feature.
Market share: 2.12%
Finishing the list of top 10 insurance companies in the USA is American Family Insurance Group (AmFam). This is a US mutual insurance group that focuses on personal lines, farm/ranch, and small business coverage. It offers a wide range of life and non‑life products, including auto insurance, homeowners' insurance, personal and commercial umbrella, health insurance, term life, universal life, whole life, business insurance, and farm and ranch insurance.
The group has grown from farm‑focused origins in 1927 into a multi‑brand organization that includes entities such as American Family Mutual Insurance Company, American Family Brokerage, American Family Financial Services, Homesite Group, and others.
AmFam highlights bundling discounts. Its website notes that customers who bundle home and auto policies may save up to 40% on both policies combined, although actual discounts vary by state, product, and underwriting factors.
This mutual structure, strong presence in home and auto, and broad personal, farm, and small‑business menu define American Family's place among the top 10 insurance companies in the US market
Learn more about American Family in our insurance ratings and review guide.
AmFam is a mutual insurance company offering life and non‑life products to individuals, families, SMEs, and corporate customers. Its portfolio includes auto, homeowners, personal and commercial umbrella, health, term life, universal life, whole life, business, and farm and ranch insurance.
This combination is not unique, but AmFam has a long history in farm and rural markets and is now the 10th‑largest US P&C insurance group, the 7th‑largest homeowners' insurer, and the 9th‑largest private‑passenger auto insurer by written premiums. This mix of mutual ownership, national scale, and strong positions in home and auto is a notable feature.
The group list includes American Family Brokerage, American Family Financial Services, AmFam, The AssureStart Insurance Agency, Homesite Group and its subsidiaries. This multi‑brand setup lets AmFam reach customers through different platforms and distribution models (including direct brands like Homesite) while keeping a mutual parent.
For personal lines, AmFam promotes bundling heavily; its site states that customers who bundle home and auto policies can save up to 40% on both policies. These discounts are subject to state, product, and underwriting variations. Many carriers offer bundling discounts, but this headline level of potential savings is a prominent part of American Family's positioning.
With all these choices, finding the best carrier and policies for your clients can be a confusing and daunting task. Here's how you can find the best fit for your clients:
Step 1. Clarify the client's situation, key risks, and main priorities.
Step 2. Define the specific coverages and limits needed.
Step 3. Identify which top insurers actively cover that type of risk in the relevant state and size band.
Step 4. Screen those insurers for strong financial strength ratings and shortlist only the suitable ones.
Step 5. Compare their policy wordings and claims performance, focusing on real differences in coverage, exclusions, limits, and claim handling.
Step 6. Obtain like‑for‑like quotes and weigh total expected cost against coverage quality and service.
Step 7. Explain the trade‑offs in plain language, document the client's informed choice, and repeat these steps at each renewal.
Get more detailed information by signing up for a premium subscription and getting access to the IB Data Hub. Its customizable dashboard lets you look up data from different US states, insurance lines, and years.
