According to the Insurance Information Institute, the leading writers of private passenger auto insurance in 2006 were:
1. State Farm Mutual Group
2. Allstate Insurance Co. Group
3. Progressive Casualty Insurance
4. National Indemnity Co. Group (Berkshire Hathaway)
5. Farmers Insurance Group
State Farm is the clear leader with over 29.5 million direct premiums written and 18% market share. Allstate has 18.2 million direct premiums and 11.1% market share. Progressive comes in third with 12 million direct premiums and 7.3% market share. National Indemnity Co. has 11 million premiums and 6.7% market share. Farmers Insurance has 8.1 million direct premiums and 4.9% market share.
Together, these top five auto insurers represent 48% of the nation’s auto insurance market. Other top insurers include Nationwide Group, USAA, American International, Liberty Mutual, and American Family Insurance.
Standard and Poor’s gives each of the top five auto insurers the following ratings:
1. State Farm – AA
2. Allstate Corp. – A+
3. Progressive Casualty Insurance – AA+
4. National Indemnity Co. Group (Berkshire Hathaway) - NR
5. Farmers Insurance Group – AA-
In addition to auto insurance, these top insurers also offer life, homeowners, renters, condo owners, long term care, disability, business, boat, and other types of insurance.