USAA is the No. 1 insurance company, based on our data, but it’s not available to members of the general public. For many drivers, No. 2-rated American Family may be the best car insurance company.
USAA
Pros:
Available in all 50 states and Washington, D.C.
Rated No. 1 for customer service, based on policyholder survey
Cons:
Policies limited to members of the military, veterans, and their families
USAA, short for the United Services Automobile Association, is a prominent financial services group that primarily serves current and former members of the U.S. military and their families. Here’s some key information about USAA:
- Founding: USAA was founded in 1922 by a group of Army officers who wanted to insure each other’s vehicles.
- Headquarters: The company’s headquarters is in San Antonio, Texas.
- Services: USAA provides a wide range of financial services, including banking, insurance, investments, retirement planning, and more.
- Membership: Initially serving military officers, USAA expanded its membership eligibility over the years to include enlisted personnel and family members.
- Insurance: USAA is particularly well-known for its auto, home, and life insurance products, offering competitive rates and high levels of customer satisfaction.
- Banking: USAA offers banking services such as checking and savings accounts, mortgages, and loans.
- Investments: They provide services related to investments, including mutual funds, IRAs, and financial advice.
- Customer Service: USAA is often recognized for its exceptional customer service and commitment to its members.
- Online and Mobile: The company offers extensive online and mobile banking services to cater to its members’ needs.
Please note that membership in USAA is generally limited to individuals with a military connection, such as active duty, retired, and honorably discharged members of the U.S. military, as well as their eligible family members. The specific services and products available may also vary based on your eligibility and location
American Family
Pros:
No. 1 in claims handling in our customer survey analysis
Received high ratings for customer service in the same survey
Cons:
Only operates in 19 states
Many competitors offer lower rates
American Family, which finished No. 2 in our overall rating of the best car insurers with a score of 4.3 out of 5, is at or near the top in most of the subcategories we included. The company is tied for No. 1 in Customer Loyalty, and stands alone at the top of the rating for Claims Handling. In all other subcategories, American Family finished either second or third. The company falls squarely in the midrange of insurers in terms of pricing, finishing at No. 5 overall in our rating of Cheap Car Insurance Companies.
American Family showed the biggest improvement in the ratings over last year, moving up eight places to No. 2 overall.
USAA is the No. 1 insurer in our rating of the Best Car Insurance Companies of 2023. Our results placed the company at No. 1 in many subcategories we looked at, including Customer Service, Most Likely to be Recommended, and Most Likely to Be Renewed. USAA finished second to American Family in the Claims Handling scores, and is tied with American Family in the Customer Loyalty subcategory.
The company also finished No. 1 in our rating of Cheap Car Insurance Companies, with low average rates in multiple categories.
USAA car insurance is only available to members of the military community, so most consumers will want to learn more about what other insurers have to offer.
American Family Insurance, also known as AmFam, is a prominent mutual insurance company in the United States. Here is some key information about American Family:
- Founding: American Family was founded in 1927 by insurance salesman Herman Wittwer. It initially focused on providing auto insurance to farmers in Wisconsin.
- Headquarters: The company’s headquarters is located in Madison, Wisconsin.
- Services: American Family offers a variety of insurance products, including auto, home, renters, life, health, and business insurance. They also provide investment and retirement planning services.
- Insurance: American Family is known for its comprehensive auto and homeowners insurance coverage. They offer various insurance products to meet the needs of individuals, families, and businesses.
- Community Involvement: The company is actively engaged in supporting communities through the American Family Insurance Dreams Foundation, which focuses on education, social equity, and economic opportunity.
- Customer Service: American Family emphasizes personalized customer service and has a network of local agents across the United States who provide assistance to policyholders.
- Digital Services: American Family provides online tools and mobile apps to help customers manage their policies, report claims, and access important information.
- Slogan: American Family Insurance is often associated with the slogan “Insure carefully, dream fearlessly,” reflecting its commitment to protecting customers’ dreams and aspirations.
American Family is well-regarded for its customer-focused approach, strong community involvement, and the wide range of insurance and financial services it offers. The company aims to provide support and protection to individuals and businesses in various stages of life and economic development.
State Farm
Pros:
Highly rated for customer service by current policyholders
Premiums are often below the national average
Cons:
Policies can only be purchased through a local agent
State Farm, with a score of 4.2, finished at No. 3 in our rating. The company performed well in all of the subcategories we covered in our ranking, including being rated No. 2 in Best Car Insurance Companies for Seniors. State Farm ties with American Family at No. 2 for Customer Service, and is in a four-way tie at No. 3 in the Claims Handling subcategory.
State Farm’s rates are the third-lowest we found overall, and the company performed well in multiple rate-specific categories, including the cost of insurance for teen drivers and seniors.
It’s one of the cheapest companies on average for drivers after a speeding ticket or an accident, and the cheapest after a DUI.
State Farm is one of the largest and most well-known insurance and financial services companies in the United States. Here’s some key information about State Farm:
- Founding: State Farm was founded in 1922 by George J. Mecherle, a retired farmer and insurance salesman.
- Headquarters: The company is headquartered in Bloomington, Illinois.
- Services: State Farm offers a wide range of insurance products, including auto, home, renters, life, and health insurance. They also provide banking and financial services, including savings accounts, loans, and investment products.
- Insurance: State Farm is particularly well-known for its auto insurance and is one of the largest auto insurers in the United States. They also offer homeowners insurance, renters insurance, and various other insurance products.
- Agent Network: State Farm utilizes a vast network of independent insurance agents and representatives across the country to sell its products and provide personalized service to customers.
- Community Involvement: The company is actively involved in community outreach and philanthropic efforts, including supporting various educational and safety programs.
- Digital Services: State Farm offers online and mobile services for policy management and claims reporting, making it convenient for customers to access their accounts and request assistance.
- Financial Services: In addition to insurance, State Farm provides banking services, including checking and savings accounts, credit cards, and mortgage loans.
State Farm is well-regarded for its customer service, extensive agent network, and a wide range of insurance and financial products. Customers can access personalized services through local agents while also utilizing digital platforms for convenience.
Geico
Pros:
Offers some of the lowest annual rates on average among other companies in our rating
Scores well for claims handling, customer loyalty, and customer service, based on policyholder feedback
Cons:
Drivers with a DUI have higher rates, on average, than the majority of providers in our analysis
Geico, with a score of 4.1, is tied with Nationwide at No. 4 in our rating of the Best Car Insurance Companies of 2023. That’s one spot lower than last year, when the company was in a three-way tie at No. 3. Geico finished in the top half of every subcategory included in our rating, including top-5 scores for Customer Service, Claims Handling, and Customer Loyalty.
It is also one of the cheapest car insurance companies on the list. Geico finished No. 2 overall, behind only USAA, in our rating of Cheap Car Insurance Companies, with affordable rates in a number of categories, including low premiums for teen drivers and for drivers seeking minimum coverage.
Pros:
Above-average scores for customer service and claims handling, based on policyholder survey
Affordable rates for drivers with poor credit
Cons:
Higher rates on average for minimum coverage than competitors
Premiums for drivers with a DUI are higher than the national average
Nationwide is tied with Geico at No. 4 in our rating, with an overall score of 4.1. The company is tied at No. 4 in the Customer Service subcategory, tied at No. 3 in the Claims Handling subcategory, and tied at No. 6 for Customer Loyalty. It finished in the top five in the categories of Most Likely to be Recommended and Most Likely to be Renewed.
In our rating of Cheap Car Insurance Companies, Nationwide finished near the middle, at No. 6 overall.
GEICO, short for the Government Employees Insurance Company, is one of the largest and most recognizable insurance companies in the United States. Here’s some key information about GEICO:
- Founding: GEICO was founded in 1936 by Leo Goodwin and his wife Lillian Goodwin to provide auto insurance to federal government employees and military personnel.
- Headquarters: The company is headquartered in Chevy Chase, Maryland.
- Services: GEICO primarily offers auto insurance but also provides a range of other insurance products, including homeowners, renters, motorcycle, RV, boat, and umbrella insurance.
- Direct-to-Consumer Model: GEICO is well-known for its direct-to-consumer business model, allowing customers to purchase insurance directly from the company through online and phone channels.
- Advertising: The company is recognized for its creative and memorable advertising campaigns, often featuring the GEICO gecko, cavemen, and other characters.
- Savings and Discounts: GEICO is known for offering competitive rates and a variety of discounts to policyholders. Their advertising often highlights how customers can save on insurance.
- Customer Service: GEICO emphasizes a commitment to excellent customer service, including 24/7 claims reporting and support.
- Digital Services: GEICO has a user-friendly website and mobile app, making it convenient for policyholders to manage their insurance policies and file claims online.
- Community Involvement: GEICO is involved in various community and environmental initiatives, including supporting local organizations and promoting eco-friendly practices.
GEICO’s direct-to-consumer approach, competitive pricing, and strong advertising campaigns have made it a popular choice for auto insurance for many customers. They also offer a variety of insurance products to meet different coverage needs.
Nationwide
Pros:
Above-average scores for customer service and claims handling, based on policyholder survey
Affordable rates for drivers with poor credit
Cons:
Higher rates on average for minimum coverage than competitors
Premiums for drivers with a DUI are higher than the national average
Nationwide is tied with Geico at No. 4 in our rating, with an overall score of 4.1. The company is tied at No. 4 in the Customer Service subcategory, tied at No. 3 in the Claims Handling subcategory, and tied at No. 6 for Customer Loyalty. It finished in the top five in the categories of Most Likely to be Recommended and Most Likely to be Renewed.
In our rating of Cheap Car Insurance Companies, Nationwide finished near the middle, at No. 6 overall.
Nationwide, also known as Nationwide Mutual Insurance Company, is a well-established insurance and financial services company based in the United States. Here are some key details about Nationwide:
- Founding: Nationwide was founded in 1926 as the Farm Bureau Mutual Automobile Insurance Company, primarily providing auto insurance to farmers.
- Headquarters: The company’s headquarters is located in Columbus, Ohio.
- Services: Nationwide offers a wide range of insurance products, including auto, home, renters, life, pet, and specialty insurance. They also provide financial and investment services, such as banking, retirement planning, and annuities.
- Insurance: Nationwide is one of the largest insurance providers in the United States and offers various types of insurance coverage. It is known for its auto and homeowners insurance, as well as commercial insurance for businesses.
- Financial Services: In addition to insurance, Nationwide offers a suite of financial services, including banking, lending, retirement planning, and investment products.
- Community Involvement: The company is actively involved in various community and charitable initiatives, supporting organizations and programs that benefit communities and individuals.
- Customer Service: Nationwide emphasizes personalized customer service and has a network of local agents across the country who provide assistance and support to policyholders.
- Digital Services: Nationwide provides online services and mobile apps for customers to manage their policies, make payments, and report claims.
- Mascot: Nationwide is associated with the “Nationwide is on your side” jingle and the fictional character “On Your Side,” which symbolizes the company’s commitment to helping customers.
Nationwide is recognized for its extensive network of local agents and its commitment to serving policyholders. It offers a variety of insurance and financial services, making it a comprehensive choice for individuals and businesses looking for coverage and financial planning
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