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What is Auto Insurance. The biggest Auto Insurance Companies in USA 2023.

What Is Auto Insurance?


Auto insurance is a type of insurance that provides financial protection to vehicle owners in case of damage, theft, or other incidents involving their vehicle.


It typically covers the cost of repairs or replacement of the vehicle, as well as liability for any injuries or property damage caused by the vehicle owner.

There are several types of auto insurance coverage, including:

  1. Liability coverage: This type of coverage pays for damages and injuries that you cause to other people and their property in an accident that's your fault.

  2. Collision coverage: This type of coverage pays for damages to your vehicle when you collide with another car or object.

  3. Comprehensive coverage: This type of coverage pays for damages to your vehicle that are not caused by a collision, such as theft, vandalism, or weather-related damage.

  4. Personal injury protection (PIP): This type of coverage pays for medical expenses and lost wages for you and your passengers if you're injured in an accident.

  5. Uninsured/underinsured motorist coverage: This type of coverage pays for damages and injuries you sustain in an accident caused by someone who doesn't have insurance or who doesn't have enough insurance to cover your damages.



The cost of auto insurance can vary depending on several factors, including your driving record, the type of vehicle you have, your age and gender, your location, and the type of coverage you choose. It's important to shop around and compare quotes from different insurance providers to find the best coverage and price for your needs.



 The biggest auto insurance companies in the US by market share are:

  1. State Farm: State Farm is the largest auto insurer in the US, with a market share of approximately 17%.

  2. GEICO: GEICO is the second-largest auto insurer in the US, with a market share of around 13%.

  3. Progressive: Progressive is the third-largest auto insurer in the US, with a market share of approximately 11%.

  4. Allstate: Allstate is the fourth-largest auto insurer in the US, with a market share of around 8%.

  5. USAA: USAA is a unique insurance company that primarily serves military members and their families. It has a market share of approximately 6%.

  6. Farmers: Farmers is the sixth-largest auto insurer in the US, with a market share of around 5%.

  7. Nationwide: Nationwide is the seventh-largest auto insurer in the US, with a market share of approximately 4%.

  8. Liberty Mutual: Liberty Mutual is the eighth-largest auto insurer in the US, with a market share of around 4%.

  9. Travelers: Travelers is the ninth-largest auto insurer in the US, with a market share of approximately 2%.

  10. American Family: American Family is the tenth-largest auto insurer in the US, with a market share of around 2%.