Not every auto insurance companies is the same. There are several insurers to choose from if you’re looking for auto insurance. Even though there are several vehicle insurance companies, not all of them will give the coverage you want at a price you can afford. Finding a plan that fits both your budget and your coverage requirements is crucial given the variety of alternatives available.
We’ve reviewed a number of leading insurance companies to help you narrow down your options. These are the top auto insurance providers for 2023, according to our in-depth study by industry professionals.
Our stats show that USAA is the best auto insurance provider, however only military personnel may purchase its insurance policies. If that doesn’t apply to you, State Farm, which ranks No. 2 in our research, is your next best choice.
We looked at rate information as well as policyholder opinion to identify the top auto insurance providers, paying close attention to customer service, claims management, customer loyalty, and policy renewal. We also questioned survey respondents how likely it was that they would suggest their current insurance provider to a driver looking for a new coverage.
This list can assist you in comparing insurers for vehicle insurance depending on the criteria that are most important to you. Although USAA and State Farm are at the top of the list, one of the other eight firms may be a better option for you. As a result, it’s a good idea to research the costs of several insurers before you buy or renew your insurance.
The Best Car Insurance Companies In 2023
According to our ratings, USAA is the top insurance provider. Our poll reveals that USAA customers are the most satisfied, most willing to renew their insurance, and most likely to refer USAA to other motorists. In our study, USAA had the lowest rates overall, outperforming the national average by 35%.
Only those in the military community can purchase USAA insurance products, such as car, homes, and renters plans. As a result, not all motorists will qualify for coverage from this insurer.
2. State Farm
State Farm is No. 2 in our ranking and received ratings that were above average in each of our sub-ratings, including Customer Loyalty and Claims Processing. It also performed well in our ranking of the cheapest car insurance providers for 2023. For drivers who couldn’t acquire a coverage with USAA, its average prices for those with less than perfect driving histories were the lowest in our assessment.
In our ranking, farmers tie for third place and take the top spots in several of our subratings. It is tied for first place in claims processing and second in customer service and loyalty. When compared to other insurers, Farmers scores lower than average in this category with a score of 4.0, falling short of the 4.2 average. It also has one of the highest average yearly rates among the businesses we rated.
Since our 2022 analysis, Nationwide has climbed two positions and is now tied for third place. Nationwide receives above-average scores in all of the subrating categories and ranks second in our Customer Loyalty and Most Likely to be Referred subratings. Moreover, certain drivers, particularly those with a clean driving record or bad credit, might get rates from Nationwide that are below average.
Having received average ratings in a number of areas, including Claims Management, Customer Service, and Customer Loyalty, Geico is tied for third place in our ranking of the Best Car Insurance Companies of 2023. It also comes in at number two in our list of the best affordable car insurance providers for 2023, offering some of the lowest average prices for young and older drivers as well as those with bad credit.
Although the company scored somewhat below-average ratings in most of our other subrating categories, Allstate moved up three points to tie for No. 6 in this year’s Best Car Insurance Companies rating and is placed No. 4 in our Most Likely To Be Suggested subrating. Although Allstate’s rates are among the highest in our survey, some drivers, such as those with a history of speeding tickets, may qualify for a competitive rate.
Travelers also made some progress this year, climbing two positions to tie for the seventh slot. Despite having a worse customer service rating than seven other insurers in our survey, Travelers ranks first in the category for claims handling and third in the category for renewal likelihood. While scoring above average for insurance renewal, Travelers provides premiums that are frequently cheaper than the national average.
In our analysis, Progressive is ranked eighth. Customers are usually happy with how simple it is to open a policy, but Progressive comes in last in our Best for Customer Loyalty category and has below-average ratings across the board. Also, Progressive consumers claim that they are less inclined to repurchase insurance or refer the company to other motorists. But, those with a DUI could be able to use Progressive’s funds. In our investigation, its rates for those drivers are some of the lowest.
In our ranking of the Best Auto Insurance Companies, AAA is a new company, tied for ninth place with Progressive. In every category we looked at, it scored below average. It did, however, surpass Allstate, Farmers, Progressive, and American Family to claim the No. 6 place in our Most Likely to be Renewed subrating. Although AAA had the highest average premiums in our survey, drivers should request a quotation to see whether their particular rate is more affordable.
10. American Family
American Family is now ranked No. 10 in our research after falling four positions this year. Its ratings are the lowest across the board, with the exception of our Best for Customer Loyalty category, where American Family beats Progressive by a hair. American Family does provide affordable rates for some drivers, particularly young drivers, those with bad credit, those with an accident or a DUI on their record, and those with low credit scores.
How Much Car Insurance Do I Need?
Your insurance needs will vary depending on a number of variables. State standards are one of the most crucial predictors of how much coverage you could need. The majority of states have legislation requiring drivers to obtain a certain level of liability insurance. Other forms of insurance, such as uninsured motorist coverage and personal injury protection, are also mandated by some jurisdictions for drivers (PIP).
Any conditions set out by a lender or lessor come next. The amount of insurance you must carry is specified in your loan or lease agreement if you pay for your vehicle in monthly installments. Consult your loan contract or lease with your landlord or lessor.
Which Insurance Companies Are The Best for Customer Service?
State Farm and USAA are ranked first and second, respectively. Customers of USAA who haven’t made a claim report that 65 percent of them are very happy with the company’s customer service. About 64% of USAA customers say they are highly happy with the insurer’s customer service, a figure that only marginally declines among those who have made a claim.
If USAA coverage is not an option for you, State Farm can be a better option. Over 60% of State Farm customers who haven’t made a claim say they are very happy with the level of customer care they received. Similar to USAA, State Farm has somewhat lower customer satisfaction ratings among clients who have made a claim. 56 percent of survey participants claim to have had only positive customer service experiences.
There are several auto insurance providers who could have the coverage you want. Go around and weigh your selections because they might not provide the best coverage or the cheapest price.
State Farm was selected as the top vehicle insurance provider overall for 2023 based on our professional analysis. There are many more excellent solutions to take into consideration, though, if you are specifically searching for anything for your auto insurance.
Sage is a financial/consumer journalist and senior editor, personal finance, of TrendsHQ. EXPERTISE: Personal Finance, Careers, Jobs, Scholarships, and Entertainment.