Consumers certainly want to save money and receive a low premium when choosing an insurance company. However, it is important to also consider factors such as financial ratings, regulatory compliance, and customer satisfaction,” says David Marlett, managing director of the Brantley Risk & Insurance Center at Appalachian State University and an Insure.com editorial advisor. “These rankings incorporate all of these issues and provide the consumer with a more comprehensive approach to evaluating insurance options
What are the top 10 insurance companies?
Our list includes these 10 best insurance companies:
Best overall car insurance company and best overall home insurance company: Erie
Best car insurance company for claims handling: Allstate
Best car insurance company for discounts: Auto Club of Southern California
Best home insurance company for trustworthiness: American Family
Best home insurance company for cheap rates: Amica
Best life insurance company overall: MassMutual
Best life insurance companies for affordable rates (tie): Pacific Life, Penn Mutual
Best health insurance company overall: Kaiser Permanente
Best health insurance when it comes to policy offerings: BCBS of Michigan
It should be noted that USAA often ranks as a top insurer. But because the company only offers coverage to military members, veterans, and their families, it’s not included in our overall rankings. Liberty Mutual and Safeco also were omitted from our rankings because they don’t provide pricing information—one of our key rating metrics—to our data partner, Quadrant Information Services. Some other familiar names also didn’t make the cut because too few of their customers responded to our insurance survey.
The top five companies in each insurance category are as follows:
The five best car insurance companies
Erie
Auto-Owners
Travelers
Nationwide
Auto Club Group: AAA
Erie ranked as the top choice in several of the categories Insure.com evaluated, including best for the cheapest rates, best for customer satisfaction, best for ease of service, and most trustworthy. And 100% of the Erie customers we surveyed said they would both renew their policies with the insurer and recommend the company to others.
The five best homeowners insurance companies
Erie
Amica
Auto-Owners
State Farm
Allstate
Erie was the top-rated company in five home insurance categories, including customer service and claims handling. It comes highly recommended by current customers, 97% of whom plan to renew their coverage
The five best life insurance companies
MassMutual
Pacific Life
State Farm
Northwestern Mutual
(tie) Penn Mutual, New York Life
MassMutual did well in Insure.com’s survey of insurance consumers, rating highly for customer satisfaction and ease of service. It was also rated highly by third-party agencies: AM Best gave it an A++, indicating financial stability; and the National Association of Insurance Commissioners gave it a score of 0.11, indicating few consumer complaints.
The five best health insurance companies
Kaiser Permanente
Highmark
Horizon
UnitedHealthcare
Humana
Read more about the best health insurance companies of 2024.
Kaiser Permanente, one of the nation’s largest not-for-profit health plans, was a top performer in a number of areas in our health insurance customer survey, including price, affordability, and customer service. The company also received the highest National Committee for Quality Assurance ranking—4.3 out of 5 stars—of the top companies in our ranking. NCQA evaluates healthcare plans on, among other things, member satisfaction.
While these rankings are a great starting point when searching for coverage, you shouldn’t stop there if you want to get the best homeowners policy—or any other type of insurance.
“Shop around and talk to local agents, brokers, or companies doing business in your area,” says Karen Collins, assistant vice president for personal lines for the American Property Casualty Insurance Association. “Local agents or companies will understand your local market and be able to give you a variety of choices.”