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Best Automobile Insurance Company in United States in 2023 by MB

Best Automobile Insurance Company in United States 2023 by MB

Best Automobile Insurance Company in United States 2023 by MB

After a comprehensive evaluation, it is apparent that USAA stands out as the premier automobile insurance provider. Nevertheless, due to its exclusive accessibility to military personnel and their families, American Family, securing the second position, might be the preferred choice for a majority of drivers. State Farm, Geico, and Nationwide also claim top positions in our rankings.

Nonetheless, the ideal car insurance provider for you is contingent on various factors, including your age, location, driving history, and your specific priorities, whether that pertains to exceptional customer service, a reputable image, or proficient claims processing.

Our analysis incorporates a survey of current policyholders across the leading car insurance companies. Continue reading to explore how existing clients have rated their car insurance companies across various customer-oriented dimensions.

Excellence in Customer Service: USAA, American Family, and State Farm

In the subcategory of Customer Service, USAA claims the top spot, while American Family and State Farm share the second position.

Our survey reveals that more than 73% of non-claimant USAA clients express complete satisfaction with the company's customer service. This figure, however, decreases to 53% among USAA clients who have filed claims. Given that USAA's car insurance policies cater exclusively to the military community and their families, potential customers not eligible for USAA coverage should consider alternative insurers featured in our rankings.

Among American Family clients who haven't filed claims, over 65% report complete satisfaction with the quality of customer service. This percentage slightly decreases to just under 58% for policyholders who have filed claims. For State Farm customers, the corresponding figures from our survey are approximately 60% and 54%, respectively.

Nationwide, Geico, Travelers, and Farmers are tied for the fourth position in this subcategory.

Top Marks for Claims Handling: American Family

In the Claims Handling subcategory, American Family earns the highest rating with a score of 4.3, narrowly surpassing USAA, which secures the second position with a score of 4.2. Our survey results indicate that over 61% of American Family policyholders express complete satisfaction with the ease of filing claims, while 56% are entirely satisfied with the resolution of their claims.

Just under 52% of American Family's clients express complete satisfaction regarding the status updates received during the claim process.

Following American Family and USAA, a four-way tie for the third position in this subcategory features State Farm, Farmers, Geico, and Nationwide. Progressive, Travelers, and Allstate share the seventh position, with AAA ranking tenth.

Highly Likely for Recommendations: USAA and American Family

In the Most Likely to be Recommended subcategory, USAA holds the top spot, followed by American Family in the second position. Our survey indicates that 63% of non-claimant USAA policyholders are highly likely to recommend the company to others seeking car insurance. Among USAA clients who have filed claims, this figure decreases to approximately 59%. As USAA exclusively caters to the military community, individuals in search of insurance outside this demographic will need to explore other insurers.

Just over 40% of non-claimant American Family policyholders express a high likelihood of recommending the insurer to those seeking policies. However, this percentage rises to just over 62% for those who have filed claims.

Other companies with high recommendations from their clients include State Farm, Nationwide, and Geico, all sharing the third position in our rankings in this subcategory.

High Probability of Renewal: USAA and American Family

Regarding the question of policy renewal with USAA, over 69% of non-claimant customers express a high likelihood of doing so, according to our survey results. Even among policyholders who have filed claims, more than 66% describe themselves as very likely to renew. These results contribute to USAA securing the top spot in the Most Likely to be Renewed subcategory.

American Family, the second-ranked company in this subcategory, also performs well in our consumer survey. Approximately 65% of those who haven't filed claims are very likely to renew with American Family, and this figure increases to over 68% among claimants.

Nationwide and State Farm share the third position in this subcategory, while Geico ranks fifth.

Superior Customer Loyalty: USAA and American Family

USAA and American Family share the first position in the Customer Loyalty subcategory. Both companies receive high marks from their policyholders in terms of recommendations. Furthermore, USAA and American Family secure the first and second positions, respectively, in the Most Likely to be Renewed subcategory. Nationwide and State Farm are tied for the third position, with Geico ranked fifth.

Automobile Insurance Rates by State

STATE/CITY OVERALL AVERAGE RATE
Alabama                          $1,354.00
Alaska                                              $1,294.00
Arizona                          $1,626.00
Arkansas                          $1,814.00
California                             $1,782.00
Colorado                         $1,663.00
Connecticut                         $1,567.00
Delaware                         $2,231.00
Florida                         $2,551.00
Georgia                         $1,432.00
Hawaii                         $1,241.00
Idaho                         $992.00
Illinois                         $1,266.00
Indiana                         $1,190.00
Iowa                         $1,215.00
Kansas                         $1,486.00
Kentucky                         $2,104.00
Louisiana                         $2,734.00
Maine                         $949.00
Maryland                         $1,468.00
Massachusetts                         $1,399.00
Michigan                         $2,305.00
Minnesota                         $1,460.00
Mississippi                         $1,505.00
Missouri                         $2,055.00
Montana                         $1,525.00
Nebraska                         $1,569.00
Nevada                         $1,913.00
New Hampshire                         $1,530.00
New Jersey                         $1,706.00
New Mexico                         $1,530.00
New York                         $1,808.00
North Carolina                         $1,165.00
North Dakota                         $1,300.00 
Ohio                         $1,083.00
Oklahoma                         $1,638.00
Oregon                         $1,281.00
Pennsylvania                         $1,395.00
Rhode Island                         $1,831.00
South Carolina                         $1,813.00
South Dakota                         $1,577.00
Tennessee                         $1,264.00
Texas                         $1,716.00
Utah                         $1,407.00
Vermont                         $1,053.00
Virginia                         $1,280.00
Washington                         $1,285.00
Washington, DC                         $1,727.00
West Virginia                         $1,532.00
Wisconsin                         $1,145.00
Wyoming                         $1,341.00
                    

*Rates are based on average sample quotes for male and female drivers ages 25, 35, and 60 who drive 12,000 miles per year, have medium coverage, good credit, and a clean driving record.

Various Types of Automobile Insurance

Prior to acquiring an automobile insurance policy, it's crucial to ascertain the specific coverage required. Here are the seven primary types of automobile insurance and their respective coverages.

Collision car insurance

Collision insurance provides coverage when your vehicle collides with another object, such as another vehicle or a utility pole, resulting in damage. Depending on your policy and location, it may also cover repairs following a rollover or a hit-and-run incident.

Comprehensive car insurance

This type of insurance safeguards your vehicle against damage caused by incidents other than collisions, including natural disasters, fires, theft, or vandalism. While state laws typically do not mandate comprehensive coverage, it can be advantageous, particularly if you lack the means to cover unforeseen repairs or potential vehicle replacement.

Full coverage car insurance

Full coverage auto insurance combines various coverages to protect your vehicle in cases of accidents or damages caused by external factors. Typically, it includes liability, collision, and comprehensive coverage. Additionally, it may encompass coverage mandated by your state, such as uninsured/underinsured motorist coverage, personal injury protection (PIP), or medical payments (MedPay).

Gap insurance

Guaranteed asset protection, or gap insurance, is designed for individuals financing or leasing their vehicles. In the event of theft or total loss, gap insurance bridges the gap between your vehicle's value and the outstanding lease or loan balance. However, it does not cover other accident-related expenses.

Liability car insurance

Liability car insurance offers financial protection if you are legally responsible for an accident resulting in bodily injury, death, or property damage. It may also apply when someone else is driving your vehicle and is at fault. Generally, state laws mandate liability insurance, although the required coverage amount may vary. It's important to note that liability insurance does not cover damages to your own vehicle.

Non-owner car insurance

If you borrow, rent, or share a vehicle with someone else, you may qualify for non-owner car insurance. This type of insurance provides basic liability coverage when you're driving another person's vehicle and are at fault in an accident. It can also be useful if you've lost your license and require proof of insurance (SR-22) for reinstatement. The coverage limits usually align with the minimum car insurance requirements in each state.

Uninsured motorist car insurance

Uninsured motorist coverage, mandatory in 20 U.S. states and Washington D.C., offers financial protection when you're involved in an accident with a driver lacking liability insurance or who leaves the scene without providing insurance details. Often bundled with underinsured motorist coverage, it safeguards you when you're in an accident, and the at-fault driver's insurance is insufficient to cover the damage they caused.

Determining the Cost of Car Insurance

As per our recent analysis, the average annual car insurance cost stands at $1,547, equivalent to approximately $127 per month. It's essential to remember that car insurance premiums are highly personalized, influenced by various factors, potentially resulting in rates higher or lower than the average.

COMPANY          AVERAGE MONTHLY RATE*     AVERAGE ANNUAL RATE*

USAA                                 $85                                    $1,022

American Family                 $115                                   $1,383

State Farm                         $107                                   $1,279

Geico                                 $104                                   $1,250

Nationwide                         $123                                   $1,473

Farmers                             $173                                   $2,078

Travelers                            $113                                   $1,355

Allstate                               $178                                   $2,135

AAA                                    $163                                   $1,958

Progressive                          $128                                   $1,540

*Rates are based on average sample quotes for male and female drivers ages 25, 35, and 60 who drive 12,000 miles per year, have medium coverage, good credit, and a clean driving record.

Factors Impacting Car Insurance Costs

Several factors can influence your car insurance premium, including but not limited to:

1    Location

2    Age and years of driving experience

3    Gender

4    Vehicle make and model

5    Driving history

6    Coverage selection (minimum vs. high-level coverage)

To save on insurance costs, drivers can explore various discounts offered by insurers. Ultimately, the best approach to finding a premium within your budget and a policy that suits your needs involves comparing quotes from multiple insurance providers. 

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