10 Largest Car Insurance Companies in California (2024)

FAQs

What are the largest auto insurance companies in California? ›

The largest car insurance companies in California are State Farm, Geico and Progressive, according to S&P Global Market Intelligence. State Farm is the largest auto insurer in California as well as the largest property and casualty insurer in the United States overall, providing more than 87 million insurance policies.

Geico, Progressive, USAA, State Farm and Allstate are the best car insurance companies in California based on cost, reputation and coverage options.

For auto policies, State Farm is the largest insurance company in the U.S., with the biggest market share (16.9 percent) and over $46.6 million in direct premiums written in 2022.

The auto insurance company with the most complaints is United Automobile Insurance, which receives roughly 40 times more complaints than the average insurer its size, according to the latest NAIC complaint index. The insurance companies with the next most complaints are Ocean Harbor Insurance and California Casualty.

The Chronicle reports that insurance industry magazines linked Geico's decision to close California sales offices to its failure to raise insurance prices in compliance with Sacramento regulations and other market forces.

Geico, USAA, Mercury Insurance, Progressive and CSAA are the five cheapest car insurance companies in California, according to our research. The average cost of full-coverage car insurance in California is $193 per month or $2,313 per year.

Allstate and Progressive are also two of the largest car insurance companies in the country. According to the National Association of Insurance Commissioners (NAIC), Progressive is the third-largest auto insurance company in the U.S., and Allstate is the fourth-largest.

Who is Geico's biggest competitor? ›

State Farm is currently the largest auto insurer in the U.S. according to the National Association of Insurance Commissioners (NAIC), closely followed by Geico. Both companies hold strong financial reputations and customer service ratings.

The most frequently overlooked umbrella liability coverage is personal injury liability.

In terms of number of policies settled during 2022-23, Max Life Insurance has the highest claim settlement ratio of 99.51%. With a 99.39% claim settlement ratio, HDFC Life Insurance came second on the list. Aegon Life Insurance bagged the third position with a 99.37% claim settlement ratio.

Geico, USAA, Mercury Insurance, Progressive and CSAA are the five cheapest car insurance companies in California, according to our research. The average cost of full-coverage car insurance in California is $193 per month or $2,313 per year.

General Motors, the Ford Motor Company and Chrysler are often referred to as the Big Three, although Chrysler has been surpassed as the third-largest U.S. automaker by Toyota of America.

Geico is better than Progressive overall, per WalletHub's grading criteria. Geico beats Progressive in terms of cost and discounts offered, though the two companies are fairly evenly matched when it comes to the types of insurance available and customer reviews.