Cars have been part of American society for about a century and in today’s society they are an essential part of everyday American life. While mass transportation systems such as subways, buses, and subways have been developed in major cities, most average Americans get to and from work by automobile. It is for this reason that the federal government decided to allow each state to design its own auto insurance laws so that they could have a say in the conditions under which a car should be used within their respective state borders. With the population of the United States growing every day and more and more people entering this great country, it is imperative that Americans have car insurance so that they can drive safely and risk-free on the roads of this country.
Today, most people can find an auto insurance company within a 25-mile radius of where they live. While there are major auto insurance companies like GEICO, Allstate and others that are trying to get bigger to control this sector of the economy; there are still some who are nationally unknown and work within the boundaries of their state. In this article, we’ll discuss just those “top dogs” in the auto insurance industry by looking at their history, what they offer, and how they’ve become known over the years.
insurance: Although this company was only founded over the internet in 1999, they have made a lot of progress over the years. The company started in four states and was soon bought by the White Mountains Insurance Group. Today, Esurance claims to insure about 85% of the nation’s drivers, and they continue to grow by providing coverage in 28 states. Since its inception, this company has strived to offer customers the best rates on the market with the best coverage. They pride themselves on their customer service techniques and the fact that their customer service representatives are available 24 hours a day, 7 days a week. This insurance would be the first to offer their products completely online, making it a little easier and more convenient for people to get quotes and enroll from the comfort of their own home or office. The company has grown to the point that they have expanded to offer not only auto coverage, but also life, health, homeowner, and motorcycle insurance.
GEICO: GEICO, one of the largest auto insurance companies in the United States, is best known for their little gecko that talks in a British accent, or for its caveman commercials that emphasize that getting a quote online is “so easy a caveman can do it.” The Government Employees Insurance Company (GEICO) was founded in the 1930’s when the Great Depression was still hitting this great nation. Leo and Lillian Goodwin started the company in the state of Texas because they had a vision to lower premiums for selected customers. The company became increasingly well known in the United States and it was in 1936 that they established operations in Washington DC. Today, the company operates in all states and its assets have soared to a record $21.9 billion. They have an estimated 7 million members, with 21,000 connected to 12 major locations across the country. This incredible growth is due to three key elements that GEICO focuses on: excellent coverage, low prices and excellent customer service.
allstate: Under the motto “You are in good hands”, this company strives to be the best by giving their customers peace of mind and enriching their quality of life through excellent risk management. The company was founded in 1931 and only became a publicly traded trading company in 1993. Based in Northbrook, Illinois; Allstate is one of the nation’s largest insurers in metropolitan and regional areas and has offices in all states of the country. They are proud of the various awards they have won over the years and for supporting car and highway safety reforms, including seatbelts, airbags and teenage driver education. A Fortune 100 company with $157.5 billion in assets, the Allstate Corporation comprises more than 70,000 professionals with nearly 30% minorities and 59% women. The company provides insurance products to an estimated 17 million cars and one in every 9 cars on the road is insured by them
SF insurance: This company was founded in 1922 by a retired farmer and insurance agent named George Jacob Mecherle. He started the company with the sole purpose of lowering auto insurance premiums for farmers because he knew they drove much less than the average customer. Today, SF Insurance claims to insure more cars than any other auto insurance company in North America and is available in all 50 states as well as neighboring Canada. In 2006, the company was the first to promote a major motion picture when they sponsored the Pixar film CARS and they have expanded into life, homeowner and property insurance. The company has more than 17,000 agents and 68,000 employers serving more than 76 million customers with every type of insurance imaginable. They are ranked A+ by AM Best and they are also ranked 31st in the Fortune 500 list of largest companies.
Rural: Another “top dog” of auto insurance in the United States. The company was founded in 1925 by the Ohio Farm Bureau Federation to provide excellent low rates to rural drivers in the state, and over the course of 80 years, Nationwide has transformed from a small car insurance company for Ohio farmers to a large company that goes to estimated to receive $157 billion in assets. Today, Nationwide is not just a car insurance provider; but also offers financial services. They are known for their service excellence simply because their employees have a variety of skills, experiences and backgrounds that make them more compatible with their customers. The company is ranked #104 in Fortune 500 magazine and has approximately 36,000 employers. It is also worth noting that Nationwide is the 6th largest auto insurance company in the United States by premium ratings as ranked by AM Best.