Top 5 Car Insurance Companies In Texas Based on Market Share
With close to 29 Million residents, Texas is the second-largest state in the United States by both area and population. According to a report by the Insurance Research Council, there are over 15 million licensed drivers in Texas, out of that, 14.1% of the public do not have car insurance. In Texas, there is a high rate of auto theft and damage caused by weather-related events like hurricanes, and with over 2,115,000 residents driving with no liability insurance, it is recommended to have a comprehensive coverage plan to protect against loses.
Zimlon rounds up the top 5 car insurance companies based on their market share size in Texas.
State Farm- With over 1,991,534 direct premiums written and 2,049,922 direct premiums earned, State Farm takes the number one spot with a market share of 15.6% in Texas. Ranking high on the J.D Power auto insurance study with a score of 835/1000, State Farm is especially recommended for owners of ride-sharing services and new cars. State Farm's online faculty provides comprehensive information on everything auto-related apart from insurance. They also belong to an elite group of insurers awarded with the A.M. Best financial strength rating of A++.
GEICO- Capturing a market share of 13.1%, GEICO has written 1,673,523 direct premiums, and 1,645,192 direct premiums earned. Their website and mobile app have a wide array of features for tech-savvy customers. Having received an A++ rating from A.M Best for financial strength and a score of 836/1000 in the 2019 J.D. Power study in auto insurance, GEICO enjoys a loyal patronage of customers in and around Texas.
Progressive- Although not as high ranked as the first two insurers in the list, Progressive enjoys a market share of 10.8% having written 1,378,280 direct premiums and 1,311,955 direct premiums earned. With the ease of their Live Chat option on their website, Progressive makes it easy to get an instant quote. J.D. Power gave them a score of 816/100 in the 2019 auto insurance study. Although offering an impressive number of discounts in auto insurance, Progressive does tend to be slightly more expensive for teen drivers in Texas. However, they do clean up with an A+ A.M. Best financial strength rating.
Allstate- With over 1,309,001 direct premiums written and 1,280,524 direct premiums earned, Allstate takes a 10.3% cut of the auto insurance market share in Texas. Offering more supplemental coverage options as compared to State Farm, Allstate scored 836/1000 in the 2019 J.D. Power study in auto insurance and A+ in A.M. Best financial strength rating. It's also one of the only companies to offer 'gap' insurance for new cars, a valuable add-on in Texas.
USAA- Texas is home to the second-highest number of active-duty personnel in the country. USAA finished the list with a market share of 7.9%, including retired and active military service members. The insurer has written 1,016,830 direct premiums, and 998,713 direct premiums earned. What helps USAA stand out is its near-perfect score of 894/1000 in the 2019 J.D. Power auto insurance study. Especially recommended for military service members (active and retired), USAA also has the highest rating of A++ from A.M. Best.