2023’s Auto Insurance Market — The Top-10 Insurers

Five insurance companies own 62.5% of the auto insurance market. Subtract USAA’s 6.27% and the top four have over half of the market at 56.23%. The combined direct written premiums of the top five hit over $197 billion in 2023.

Here’s how they rank:

1. State Farm

Market share: 18.31%

Direct premiums written: $57,974,270,313

Direct written premiums earned: $54,812,500,326

Direct loss to EP ratio: 84.34

Direct loss and DCC to EP ratio: 87.63

2. Progressive

Market share: 15.24%

Direct premiums written: $48,255,874,744

Direct written premiums earned: $45,888,459,482

Direct loss to EP ratio: 69.15

Direct loss and DCC to EP ratio: 70.83

3 Berkshire Hathaway

Market share: 12,31%

Direct premiums written: $38,965,761,608

Direct written premiums earned: $38,383,695,986

Direct loss to EP ratio: 74.24

Direct loss and DCC to EP ratio: 75.58

4. Allstate

Market share: 10.37%

Direct premiums written: $32,848,168,906

Direct written premiums earned: $31,863,541,999

Direct loss to EP ratio: 74.76

Direct loss and DCC to EP ratio: 76.84

5. USAA

Market share: 6.27%

Direct premiums written: $19,847,915,798

Direct written premiums earned: $18,829,720,861

Direct loss to EP ratio: 77.30

Direct loss and DCC to EP ratio: 78.31

6. Liberty Mutual

Market share: 4.2%

7. Farmers

Market share: 4.18%

8. American Family Insurance

Market share: 2.14%

9. Travelers

Market share: 2.08%

10. Nationwide

Market share: 1.71%

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