A look into which US auto insurers are offering the best deals in 2020
At first glance, insurance policies are complicated legal documents written more for experts than the man and woman on the street. The everyday consumer has neither the time nor the schooling to go through the hundreds of different options available to them.
A problem arises, how can you select the best auto insurance policy if you don’t have time to compare all your options?
This is where we come in, at Opinion Experts, we have sifted through countless pages of auto insurance documents in our attempt to determine the best offers for you the customer.
What we have come up with is the three best auto insurance companies currently available. With all things being equal, these three companies offer the best insurance coverage for the average US motorist in 2020.
Expert Advice: How To Find the Right Policy
Each individual’s auto insurance requirements are unique, if you are interested in doing further research in your quest to find the ideal policy, we suggest you follow these guidelines:
Do a Price Check
The most obvious advice of all is to find out what these companies are charging. Two things here, firstly, when you are waiting for individual quotes this can take a while and will require a lot of patience. Secondly, price alone is not a great indicator of a policy’s quality.
Pick an Insurer With Favorable Reviews
It is always a risk to go with an obscure insurance company. It can be risky to go with well-known companies too, however, there are usually more customer reviews on the bigger companies which can help guide you in the right direction.
Choose an Appropriate Deductible
You can reduce your premium by selecting a higher deductible but should you have an accident it will cost you more to repair your car. Look for the right balance between premium and deductible.
Consider Your Coverage
Minimal coverage offers you minimal protection. If the worst-case scenario is not covered for it might be worth upgrading your coverage.
Buy a Preferred Vehicle
Certain cars are less expensive to repair than others. The insurance companies are aware of this and will price your policy accordingly. If you can find a preferred car you can lower the cost of your coverage.
The Five Criteria We Looked For:
- Interaction
- Policy Offerings
- Price
- Billing Process
- Claims
#1. The Best Auto Insurance for Customer Satisfaction: State Farm
With 18% of the available market share, State Farm is the largest auto insurance company in the United States. It boasts an impressive 70,000 employees and has an annual net gain of over $1.7 billion.
They tend to attract customers with a higher income who are looking for a personalized insurance experience. After signing up, customers select a local agent who serves as their liaison from there on in.
Communication, for the most part, is easy with State Farm’s roster of 18,000 agents. You can reach them by phone or online, and even send them a picture of your car’s damage by smartphone. State Farm’s agents are known for making themselves freely available to their customers.
Pros
- Excellent Claims Handling: The easiest of all insurers when it comes to making a claim.
- Excellent Financial Stability: State Farm was given the best A++ overall rating for financial stability.
Cons
- Lacks the Full Array of Driver Discounts: missing two of the usual discounts: pay-in-full and automatic-pay discounts.
- Lacks Coverage Types: No stacked uninsured motorist coverage, or new car replacement coverage.
#2. The Best Auto Insurance for Customer Discounts: Progressive
With a massive 18 million customers, Progressive is the 3rd largest auto insurance company in the United States. In addition, this publicly-traded behemoth now has over 400 offices scattered throughout the US.
Practically a household name when it comes to auto insurance, Progressive is widely recognized for its competitive rates – especially for drivers with a history of accidents. It also scores some major points for its swift and reliable payment of damages.
Progressive likes to present themselves as being committed to saving their customers money while also being less expensive than the competition. To this end, they are known for offering discounts and coverage options that will help you lower your monthly fee.
Drivers with excellent records are also rewarded for their no-claims history, and a special snapshot tool allows progressive to assess the quality of a driver’s habits and thus their likelihood to get into an accident.
Pros
- Animal Coverage: Progressive includes pet injury coverage alongside its collision coverage. Any vet bills that result from an auto accident are covered.
- Multiple Discounts: Progressive claims to have at least one discount for every type of policyholder
Cons
- Price: Despite the discounts, Progressive is still a relatively expensive auto insurance company
#3. The Best Auto Insurance for Techies: Geico
Geico is well-known for its animated mascot Gecko and amusing advertising campaigns, but what lies beneath the promotional surface?
The answer is a very solid auto insurance company that provides a tech-friendly service for its 16 million customers. The company now employs up to 40,000 people and has 9 regional headquarters in the United States.
Formed in 1936, Geico was originally created to serve as the official insurance company of the federal government. The name itself is an acronym of Government Employee Insurance Company. Today they have a 10% market share of the American auto industry’s private insurance sector.
To this day, Geico is known for offering great package deals to companies looking to insure a large number of their employees. They have a favorable reputation amongst their customers and offer good rates when it comes to their policies.
What really makes Geico stand out from the crowd is their investment in digital claims processing and self-service options. Their popular mobile app brings auto insurance claims into the modern world and is proving increasingly popular with younger drivers.
Pros
- Mobile-Friendly: Geico’s mobile app allows customers to manage all aspects of their insurance by phone. That includes everything from bill payment to getting roadside assistance.
- Multiple Discounts: Excellent discounts for federal and military employees. Good discounts for multiple vehicle policies, and for those with a clean driving history.
Cons
- Lacks GAP Insurance Coverage: In the event of a financed vehicle being totaled, GAP (Guaranteed Asset Protection) covers the amount still owed to the financer, as well as the value of the car that was totaled.
- Impersonal: Whereas Geico’s tech-friendly, mobile-first business model suits some, it is a problem for many traditional customers who favor face time with a real insurance agent.
Comparison Table
| Vehicle and Policy Coverages | State Farm | Progressive | Geico |
| Bodily Injury Liability | ✔ | ✔ | ✔ |
| Personal Injury Protection | ✔ | ✔ | ✔ |
| Collision | ✔ | ✔ | ✔ |
| Comprehensive | ✔ | ✔ | ✔ |
| Property Damage Liability | ✔ | ✔ | ✔ |
| Rental Car Coverage | ✔ | ✔ | ✔ |
| Uninsured/underinsured Motorist Coverage | ✔ | ✔ | ✔ |
| Pet Injury Coverage | x | ✔ | x |
| GAP Insurance | x | ✔ | x |
| New Car Replacement | x | x | x |
Best Auto insurance Companies 2020: Key Takeaways
As stated from the outset, price alone is not a reliable yardstick when it comes to selecting your auto insurance policy. On the contrary, going with a low price just for the sake of it could be the worst way to make your selection.
The price of your policy can be improved by selecting a company that offers discounts related to your situation. For example, if you work in a certain industry, or drive a certain vehicle, there are company’s that make allowances for many different customer profiles.
Another major factor to consider is the process of making claims, how easy it is to deal with your auto insurance company in this regard? Companies with expansive networks, a large workforce, and a good customer service reputation are often worth the extra money they may charge in policy fees.
