Largest Auto Insurance Providers in each State Mapped

Insurify Insurance Agency on February 6 released a map of each U.S. state’s largest auto insurance provider using data from the National Association of Insurance Commissioners (NAIC).

The company examined the car insurance providers with the highest market share per state and found that five have the largest market share in at least one U.S. state. State Farm holds the title in more states than any competitors—29.

The U.S. had more than 260 million direct premiums written for passenger auto insurance policies by 125 companies, according to 2022 NAIC data. Despite the wildly competitive car insurance market, auto insurance rates are increasing, up 19.2% from 2022, according to the Bureau of Labor Statistics.

Insurify attributes the rise to increased car accidents, supply chain disruptions, and nationwide inflation, which has created a 15.1% jump in car repair costs since last year.

The company says the use of “telematics insurance” or “InsurTech” providers may provide consumers some relief from the high cost of car insurance.

“Telematic insurance companies don’t use traditional metrics such as age, neighborhood, gender, or driving record to determine rates,” the company says. “Instead, they use technology installed in the car to monitor drivers’ behavior and habits such as distance, driving routes, and speed.”

Analysts expect the insurance telematics industry to grow from just under $5 billion to $11 billion over the next five years, according to Insurify.

Illustration courtesy of Insurify.

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