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20 Best Companies of Car and Truck Insurance in Usa 2024

20 Best Companies of Car and Truck Insurance in Usa 2024
20 Best Companies of Car and Truck Insurance in Usa 2024

Finding the right car and truck insurance can be a daunting task, especially with so many options available in the market. To help you navigate this landscape, we have compiled a list of the 20 best car and truck insurance companies in the USA for 2024. Our comprehensive analysis considers factors such as price, availability, consumer satisfaction, types of coverage, discounts offered, and financial strength. Read on to discover which companies made our top picks.

Key Takeaways

  • USAA leads our list as the best car insurance company in 2024.
  • Auto-Owners and Nationwide follow closely, securing the second and third spots respectively.
  • State Farm and Geico round out the top five, known for their extensive coverage options and customer satisfaction.
  • Travelers, Erie Insurance, and Liberty Mutual are also highly rated for their competitive pricing and reliable service.
  • Newer companies like NEXT and THREE are making a mark with specialized commercial vehicle insurance offerings.

1. USAA

USAA is renowned for its military-focused coverage and has earned top marks from major third-party rating agencies for customer service and financial strength. The company offers a variety of discounts, including military-focused ones such as savings for on-base military members.

USAA’s standout features include:

  • USAA Perks offers savings on a variety of brands and experiences
  • Military on-base discount
  • MyUSAA Legacy discount
  • SafePilot telematics program
  • Also offers banking and investment products

USAA is rated no. 1 in our analysis for customer service, claims handling, and discounts. It has the lowest sample premium overall among companies we researched.

Pros

  • Available in all 50 states and Washington, D.C.
  • No. 1 for customer service, claims handling, and discounts

Cons

  • USAA membership and coverage are only available to members of the military community and their eligible family members.
  • Does not offer gap insurance or vanishing deductible.

Customer Complaint Level

USAA has an average level of customer complaints. Its complaint ratio is 1.0, which is the national average.

Average Annual Rate

Coverage Type Average Annual Rate
Full Coverage $1,335

Savings vs Overall Average

USAA offers significant savings compared to the overall average, with an average annual rate of $1,335, which is $733 less than the national average.

2. Auto-Owners

Auto-Owners Insurance is a standout choice for those seeking budget-friendly car insurance. Auto-Owners offers an impressive menu of more than a dozen discount opportunities, making it a top contender for coverage on a budget. This regional insurer is available in 26 states and has a low NAIC complaint index, indicating high customer satisfaction.

Auto-Owners received a top AM Best rating for financial strength, which is a testament to its reliability and stability.

Cost

The best way to estimate your costs is to request a quote. However, the average full coverage premium is approximately $141 per month.

App Available

Yes, Auto-Owners provides a mobile app for easy policy management and claims handling.

Policy Highlights

  • Affordable premiums with high customer satisfaction ratings.
  • 12 different types of discounts available.
  • Offers various other types of insurance besides auto.

Auto-Owners Insurance earns an 8.9/10.0 rating for low-rate options based on coverage, cost, availability, reputation, and customer experience scores.

3. Nationwide

Nationwide is known for its innovative programs and wide coverage options that may suit diverse budgets and goals. Nationwide is no. 3 overall in our rating of the best car insurance companies. Customers might also benefit from features such as “On Your Side” service, which can help you discover discounts you may be eligible for.

Nationwide offers a variety of discounts, including multi-policy and good student discounts. Additionally, it provides two telematics programs to help drivers save by tracking safe driving habits or reducing their annual mileage. The vanishing deductible option lowers its cost the longer you go without a claim.

Nationwide is available to customers in every state except for Alaska, Louisiana, and Massachusetts.

Coverage and Discounts

  • Vanishing deductible option
  • Telematics program SmartRide
  • Pay-per-mile car insurance option

Cost

When considering large and regional providers, Nationwide ranked sixth for affordability. While it’s generally a low-cost provider, prices may vary depending on a variety of factors. We’ve broken down their cost rankings for key areas below:

Coverage Profile Average Monthly Cost Ranking
Minimum Liability $44 9th
Full Coverage $119 3rd
Young Drivers $403 5th
Seniors $114 7th
After A Speeding Ticket $157 6th
After An Accident $197 9th
After A DUI $274 10th
With Bad Credit $173 2nd

4. State Farm

State Farm, with a score of 4.0 out of 5, finished at No. 4 in our rating. The company is in the top half of companies researched in all of the subcategories in our rating, including customer service, claims handling, and customer loyalty. State Farm’s overall sample premium is higher than six of the 10 companies in our rating and is just above the national average.

Key Features

  • Knowledgeable, local agents available in most communities
  • Two safe driving programs — Drive Safe & Save and Steer Clear
  • Numerous discounts offered
  • Sells many other kinds of insurance
  • Also offers banking and investment products

Why State Farm is Best for Local Agents

State Farm has over 19,000 licensed insurance professionals, available in communities across the U.S., who can offer guidance to those who value expert insight when discussing their policy. Digital management options allow for an on-the-go approach, including a mobile app where you can file auto claims and contact your agent.

State Farm is no. 4 in our rating of the best car insurance companies, with high marks for claims handling and customer service.

5. Geico

Geico is a prominent player in the auto insurance industry, ranking as the third largest auto insurer in the U.S. The company started in 1936, initially providing insurance to government employees. Today, Geico is known for its excellent financial strength ratings, including an A++ from AM Best, an Aa1 from Moody’s, and an AA+ from S&P.

Geico offers some of the lowest rates for both liability-only and comprehensive coverage. The average annual premium for full coverage is $1,782, which is below the national average in every driver category reviewed. Additionally, Geico provides a variety of discounts, such as for good driving, insuring multiple vehicles, and bundling auto and homeowners policies.

Geico is our top pick for availability, with policies issued in all 50 states and Washington, DC.

Customer Satisfaction

Geico has fairly high customer satisfaction, with an overall score of 4.1 out of 5. The company excels in affordability and offers a range of discounts and savings programs.

Financial Strength

Geico’s financial strength is among the highest in the industry, with top ratings from major agencies. This ensures that the company can meet its policyholder obligations.

Coverage Options

Geico provides a wide selection of coverage options and add-ons, making it a versatile choice for various driver profiles. The company also offers SR-22 availability, which is beneficial for high-risk drivers.

6. Travelers

Travelers is renowned for its personalized coverage options, making it a top choice for many. The company offers a variety of standard and additional coverages to meet diverse needs. Their standout features include a hybrid/electric car discount and a new car replacement endorsement.

Travelers is a reliable car insurance company with a good balance of low pricing, discounts, and coverage options.

Key Features

  • Hybrid/electric car discount
  • New car replacement endorsement
  • Online quotes available

Average Premium

Coverage Type Average Monthly Premium
Full Coverage $158/mo

Ratings

Category Score (Out of 10)
Industry Standing 9
Availability 10
Coverage 9.8
Cost 9.8
Customer Experience 8.7
Overall Rating 9.5

Travelers also offers gap insurance and roadside assistance coverage, making it a comprehensive choice for car and truck insurance in the USA.

7. Erie Insurance

Erie Insurance is a standout choice for car and truck insurance, especially for those residing in the 12 states and Washington, D.C., where it is available. Erie consistently scores well in J.D. Power studies, securing the second-highest score in the 2024 Insurance Shopping Study and excelling in the Auto Insurance Study across multiple regions.

Key Features

  • Rate Lock® Feature: Your premiums won’t increase as long as you keep your policy the same, even if you file a claim.
  • Customer Satisfaction: Erie ranked second-highest for claims satisfaction and has a strong reputation for customer service.
  • Affordability: Tied with USAA for third place in overall affordability among large and regional insurers.

Coverage and Availability

Erie offers a variety of coverage options, but it is only available in the following states:

  • Illinois
  • Indiana
  • Kentucky
  • Maryland
  • New York
  • North Carolina
  • Ohio
  • Pennsylvania
  • Tennessee
  • Virginia
  • West Virginia
  • Wisconsin
  • Washington, D.C.

Ratings

Category Score (Out of 10)
Industry Standing 8.9
Availability 8.1
Coverage 10
Cost 9.9
Customer Experience 9.1
Overall Rating 9.4

Despite its limited availability, Erie Insurance is highly recommended for its excellent service and affordability.

8. Liberty Mutual

Liberty Mutual is a well-known name in the insurance industry, particularly noted for its bundling numerous products. The company offers a variety of insurance options, making it a versatile choice for many consumers.

Liberty Mutual auto insurance reviews rate the company a 9.1 out of 10.0, recognizing it for having good programs for young drivers in 2024.

Ratings and Reviews

Liberty Mutual has received mixed reviews in various categories:

Category Score (Out of 10)
Industry Standing 8.9
Availability 10
Coverage 9.5
Cost 9
Customer Experience 8.2
Overall Rating 9

Customer Satisfaction

In the J.D. Power 2023 Insurance Shopping Study, Liberty Mutual scored 865 out of 1,000 points, placing it second among large insurers. However, its claims satisfaction score was slightly below average at 866 out of 1,000.

Standout Features

  • Local agencies available
  • Offers a military discount
  • Sells coverage to drive in Mexico
  • Sells multiple insurance products
  • Offers specialized coverage for teachers

9. American Family

American Family car insurance reviews show that the company is a reputable provider with nearly 100 years of experience. It’s known for providing affordable policy choices, several discounts that are attractive to families, and a good selection of add-on coverage options.

American Family is tied at no. 6 in our rating of the best car insurance companies. The company is third best in our rating for handling claims and discounts.

Pros

  • No. 3 in our rating for claims handling and discounts
  • In our survey, 57% of respondents were completely satisfied with customer service

Cons

  • Only sells car insurance policies in 19 states
  • Higher-than-average rates in some driver categories

Cost

Among large and midsize providers in America, American Family ranks twelfth overall for affordability. However, different types of drivers can get cheaper coverage than others from the company. Below, we’ve highlighted their rankings and costs for other profiles:

Category Score (Out of 10)
Industry Standing 8.4
Availability 8.1
Coverage 9.4
Cost 9.5
Customer Experience 9.2
Overall Rating 9.1

With strong performances in customer reviews and industry studies, American Family has an excellent company reputation.

10. Progressive

Progressive was founded in 1937 and currently holds an A+ (Superior) financial strength rating from AM Best. According to data from the National Association of Insurance Commissioners, Progressive received a higher-than-average number of consumer complaints in 2020, 2021, and 2022.

Progressive car insurance can be worth it for many drivers, as the company offers one of the widest selections of policies and add-on coverage options among large providers. It also has reasonable car insurance rates for those with DUIs, and policies can be bought completely online.

Ratings and Reviews

Ratings Category Score (Out of 10)
Industry Standing 9.5
Availability 10
Coverage 9.5
Cost 7.8
Customer Experience 8.7
Overall Rating 9

Pros and Cons

Pros

  • Progressive’s usage-based insurance program can reduce costs and improve safety
  • Offers one of the most extensive sets of coverage options of any insurer on the market

Cons

  • Scored slightly worse than competing insurers in a recent customer satisfaction survey conducted during COVID

Best For High-Risk Drivers

Having multiple speeding tickets, accidents, DUIs and other infractions make it more difficult to obtain car insurance. When Progressive opened its doors in 1956, it did so with the intention of agreeing to offer policies to drivers who may be considered high-risk with other insurers. To this day, customers with less-than-perfect motor vehicle records may find the company a viable option.

11. Country Financial

Country Financial car insurance is known for being an especially affordable option for high-risk drivers. If you’re in the provider’s service area and recently had an accident, DUI, or ticket, it may be the best option for you.

Country Financial earned a 4.1 Bankrate score for its auto insurance, part of which was due to its high third-party customer satisfaction and financial strength.

Coverage Profile

Driver Profile Average Monthly Cost Ranking
Minimum Liability $58 11th
Full Coverage $169 11th
Young Drivers $845 14th
Seniors $143 12th
After A Speeding Ticket $212 11th
After An Accident $254 11th
After A DUI $212 7th
With Bad Credit $331 13th

Pros and Cons

Pros

  • Affordable overall rates
  • Great claims satisfaction ratings
  • Good add-on coverage options

Cons

  • Only available in 19 states

Ratings

Category Score (Out of 10)
Industry Standing 8.8
Availability 8.1
Coverage 8.9
Cost 9.7
Customer Experience 8.4
Overall Rating 8.9

Availability

Country Financial car insurance is only available in Alabama, Alaska, Arizona, Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nevada, North Dakota, Oklahoma, Oregon, Tennessee, Washington, and Wisconsin.

12. NEXT

With its dedication to improving the shopping and policy management experience for policyholders, NEXT has quickly made a strong impression in the commercial auto insurance industry. NEXT’s streamlined, all-online capabilities make it easy to buy and update a policy, and the company’s use of technology to tailor policies makes it an industry innovator.

While NEXT Insurance is still fairly new to the commercial auto insurance market, it is already delivering strong marks for financial strength and reputation. AM Best has assigned NEXT an A- (Excellent) rating, and the company is one of the best-resourced insurance startups, thanks in part to significant financial backing from insurance giant Munich Re. NEXT is Better Business Bureau-accredited and currently carries an A rating from the BBB.

NEXT hooks prospective customers with a simple online shopping experience—something many leading insurers do not provide. Customers can input basic details about their business and coverage needs and receive a quote within a few minutes on NEXT’s website. Using AI and other sophisticated technology, NEXT is able to design customized policies that provide the right types and amounts of commercial auto coverage for each customer. This approach also helps keep premiums reasonable.

NEXT’s commercial auto insurance policies include standard coverages for medical expenses, property damage, underinsured motorists, collisions, rental reimbursement, and towing. Any vehicle used for business purposes can be insured with a NEXT policy, even if the vehicle is also used for personal travel. NEXT will cover up to 10 vehicles and 15 drivers under its commercial auto policies (four vehicles and eight drivers in California). NEXT also limits coverage for larger or higher-end vehicles.

NEXT Insurance is a newer option in the commercial auto insurance market. NEXT was founded in 2015 with the goal of better serving small business insurance customers with a simplified shopping experience and tailored affordable policies. In just a few years, the company has already earned the business of more than 300,000 small business customers across its various products.

13. THREE

THREE is a relatively new player in the car and truck insurance market, but it has quickly made a name for itself with its innovative approach and comprehensive coverage options. THREE offers a unique, all-in-one policy that combines various types of insurance into a single package, making it easier for customers to manage their insurance needs.

Key Features

  • All-in-One Policy: Combines auto, liability, and property insurance into one comprehensive package.
  • Transparent Pricing: No hidden fees or surprise charges.
  • Customizable Coverage: Tailor your policy to fit your specific needs.

Discounts

THREE offers several discounts to help customers save on their premiums:

  • Automatic payment
  • Bundling/multi-policy
  • Continuous insurance
  • Good student
  • Multi-vehicles
  • Online quote
  • Paperless
  • Pay in full
  • Sign online

Why It’s the Best

THREE stands out for its simplicity and transparency. The all-in-one policy is particularly beneficial for those who want to streamline their insurance management. Additionally, the company offers a range of discounts that can make their already competitive rates even more attractive.

For those looking for a straightforward and comprehensive insurance solution, THREE is an excellent choice. Its innovative approach and customer-friendly policies make it a strong contender in the insurance market.

Conclusion

Choosing the right car and truck insurance company is crucial for ensuring the safety and financial security of your vehicles. In this article, we have highlighted the top 20 insurance providers in the USA for 2024, based on comprehensive criteria including price, availability, consumer satisfaction, and financial strength. Whether you are looking for personal auto insurance or commercial truck coverage, the companies listed offer a variety of options to meet your specific needs. By carefully considering these top picks, you can make an informed decision and find the best insurance coverage for your situation. Remember, the best insurance company for you will depend on your unique requirements and preferences, so take the time to compare and choose wisely.

Frequently Asked Questions

What are the best car insurance companies in the USA for 2024?

The best car insurance companies in the USA for 2024 include USAA, Auto-Owners, Nationwide, State Farm, Geico, Travelers, Erie Insurance, Liberty Mutual, American Family, Progressive, Country Financial, NEXT, and THREE.

How were the top car insurance companies selected?

The top car insurance companies were selected based on price, availability, consumer satisfaction, the availability of general and specific types of coverage, types of discounts offered, and financial strength.

What factors should I consider when choosing a car insurance company?

When choosing a car insurance company, consider factors such as coverage options, customer service, price, discounts offered, and the financial strength of the company.

Are there specific car insurance companies that are better for new drivers?

Yes, some car insurance companies offer better rates and discounts for new drivers. It is advisable to compare rates and options from different insurers to find the best fit for new drivers.

Can I get discounts on car insurance as a student?

Yes, many car insurance companies offer good student discounts, which can help students save on their car insurance premiums.

Is USAA the best car insurance company for military personnel?

USAA is often considered one of the best car insurance companies for military personnel due to their tailored coverage options and discounts for military members and their families.

What do you think?

Written by Web Master

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