Top 5 Insurance Companies in USA
If you’re in the market for car insurance in the United States, you have probably heard of the big five – State Farm, Geico, Banner Life, and Allstate. These companies are large, and they all have strong reputations. You might also know one of them – Geico, which is famous for its animated gecko ads. The company has insured and served as an underwriter for more than 16 million auto policies. In addition, it employs over 40,000 people at nine regional offices and three claims centers.
Allstate
Allstate is one of the largest insurance companies in the US, with a network of over 12,000 independent and exclusive agents. It has more than 113 million proprietary policies, and is the number one insurer for millions of Americans. It also offers financial planning services to its customers.
Allstate offers a variety of insurance coverage, including home and auto insurance. It also offers flood coverage through the NFIP and is at the forefront of efforts in the insurance industry to address climate change. Allstate is a popular choice for auto insurance, but premiums can be expensive. The company is also not known for offering discounts for young drivers, or those with recent accidents or tickets.
Banner Life
Banner Life offers a variety of insurance policies including term life and universal life insurance. Both of these policies are affordable, provide coverage for a set period of time, and allow policyholders to convert their coverage into a permanent policy if they wish. In addition, Banner offers riders to customize your insurance.
Banner offers a Children’s Rider, which covers your child until age 25 or age 65. For instance, Banner has an automated underwriting system known as Appcelerate, which only applies to the most qualified applicants. The process involves no medical exam or attendance physician statements.
State Farm
State Farm is one of the top car insurance companies in the country and offers policies nationwide. Its policies are sold by captive agents, which are agents who only sell State Farm products. The company also offers its products online, and offers a mobile app that lets customers view their insurance cards and contact roadside assistance.
State Farm has a large network of nearly 19,000 agents and employs around 60,000 people. The company is owned by its policyholders, and as such, offers some of the lowest car insurance rates in the U.S. Geico is another top car insurance company in the USA, and is famous for its gecko commercials. The company insures and underwrites more than twenty four million cars. It has more than 40,000 employees and operates nine regional offices and three claims centers.
Geico
Geico is one of the largest insurance companies in the United States and is the best insurer for college students. They have 24 hour customer service and offer an extensive range of insurance coverage. They cover over 18 million customers and have an A+ rating with the Better Business Bureau.
Geico started out as a government insurance company in 1936 and is now the second largest auto insurance provider in the US. The company has strong financial strength ratings, with A+, AA+, BBB, and Moody’s rating it at A+. The company also offers great coverage for motorbikes, boats, ATVs, and other vehicles.
Progressive
Progressive has been building solid relationships with independent agents for 75 years. They claim to be the number one writer of auto insurance policies through independent agents, and they plan to have 43,000 agents working for them by 2021. In addition to working with agents, Progressive offers direct purchase options and programs tailored to the needs of individual customers.
Progressive is best known for its innovative auto insurance policies. The company was the first to offer drive-in claims services and to offer customers the ability to pay premiums in installments. In the 1950s, the company moved into new offices in downtown Cleveland. Joseph Lewis died in 1955, and Jack Green became president and CEO of the company. Peter Lewis joined the company in 1956. In 1957, the company formed the Progressive Casualty Company, which wrote auto insurance policies for high-risk drivers.
Humana
Humana is very largest health insurance company in the US. Based in Louisville, Kentucky, it provides health insurance to millions of people. Its annual revenue is in the tens of billions of dollars. In addition to offering individual and family health insurance, the company offers Medicare and other group health plans.
Humana’s plans can cover a wide range of healthcare needs and cover hospitalization costs. Humana’s HMO plans have a large network of doctors, hospitals, and other healthcare providers, and they offer prescription drug coverage as well. The company also offers PPO plans, which allow you to see any provider you wish without paying additional out-of-pocket costs.