Popular Auto Insurance Companies

The involvement of a large number of players characterizes the American auto insurance market. Some are major general insurance companies that have diversified into auto insurance companies and some are auto insurance companies that are pure play. Here are some of the major players in the business of auto insurance. You may want to check out Hanover auto insurance for more.

One such business is State Farm Insurance. It is a national insurance corporation and one of the United States’ leading general insurance providers. The company had sales of approximately $56 billion for the year 2003. State Farm Insurance, headquartered in Bloomington, Illinois, is a very common provider of auto insurance in the US. SFI has an advantage over its rivals through a national network of branches and competitive discounts for different groups of individuals. In the US, SFI is also the main insurer of vehicles, trucks and SUVs.

Another major business is American International Group, or AIG. It is the second largest general insurer in the United States and also the second largest automobile insurer. The Farmers Insurance Association of Companies is one of the largest general insurance companies in the United States and the third largest auto insurer in the United States. This company, like SFI, also has a wide network of branches in all the US states.

Apart from these, the American market has other participants. Some of them are the Auto Insurance Party of the 21st century, which has its power in the area of auto insurance and operates in eight states. Car Owners Insurance, which has been operating in the country since 1916 and covers 22 states around the nation, includes several niche players.

Is there room for all players, one feature of the American auto insurance space? General insurers that have diversified into experts in car insurance and auto insurance.