Business & Finance

Top 10 Insurance Companies in the USA

The insurance sector in a country such as the USA is probably one of the biggest sectors. This is due to the fact people are signing up with insurance companies based on the benefits they provide. Such could be an indemnity, management of cash flow uncertainty, ensuring long term business and family stability, and more. However, it is important to note that these benefits can only be experienced when you sign up with the right insurance company. This is the reason why you may have to check out the details of this post from start to finish. USA Topten lists magazine reveals some of the top insurance companies you can sign up with today in the US.

1 State farm

State Farm is probably the largest company you can think of in the US when it comes to property insurance. It was founded in 1922 by George J. Mecherle. It is one of the best when it comes to car and home insurance. A proof of its huge reputation is the fact that it holds a market share of around 10.1%, which is quite impressive. A lot is always expected from a company that has managed to write over $6billion in premiums since coming into existence.

2 Berkshire Hathaway

Berkshire Hathaway happens to be a direct competitor of State Farm that is listed above. It is a large home insurance company that managed to generate over $200 billion in 2018. This company is an amazing figure given the stiff competition that is currently existing in the insurance sector. With such an amount being generated as revenue, you can be rest assured about being indemnified should any loss ever occur for the insurance package you must have signed up for.

3 Allstate Insurance

Are you in search of an insurance company which tends to cover various packages and types of insurance? Do you know that very few understand how to do much better than Allstate Insurance company? Allstate came into being in 1931 and has been making Americans feel secured over the years through the provision of top-notch services. The insurance coverage options you will find here are great. For instance, after a claim has been made, damaged items can be replaced with the use of those which are energy – efficient.

4 Liberty Mutual

It is another great insurance company that every homeowner in the US needs to sign up with today. It has been offering a high level of protection services to Americans since 1912. Some of the areas that it covers are home insurance, condo insurance, renters/tenants insurance, and auto insurance. It also has a mobile app, thereby ensuring that you can explore all of its features from your smartphone. Liberty mutual holds a market share of around 0.4%.

5 AAA Life Insurance

In case you are looking for a company that has proven to be highly specialized when it comes to life insurance, AAA Life Insurance ticks all of the boxes. The coverage offered by this company can range from $100,000 – over $5m. Some of the packages include the universal, term, and whole life insurance. There are also lots of discount offers which you can take advantage of after signing up.

6 Farmers

Farmers company is probably one of the best companies you can look up to when it comes to auto insurance. It is rated as a top car insurance company in the US, and given its achievements over the years, such a statement can hardly be disputed. It started operations in 1928 by making insurance policies for rural farmers. This was through the innovative thinking of its owners, Thomas E and John C. Tyler. Some of the products being offered are insurance policies for businesses, vehicles, homes, and others.

7 Fidelity Life insurance

Fidelity Life insurance is the perfect company for both families and individuals who want some protection. Some of the services that it tends to cover are whole life, term, accident insurance, and others. There are high expectations from an insurance company that has been operating since 1896. The best part is that its packages are available for all the states in the US. The duration of available terms can range from 10 – 20 years. With this company, it can be easily concluded that life insurance policy just got redefined.

8 USAA

USAA is a top insurance company you can sign up with today. It is located in Texas (San Antonio). Although this company has some limitations compared to others listed above, it is still one of the best around. It was founded in 1922 and managed to generate over $30 billion in 2018. As of in 2017, it was discovered that its total assets were worth ‎$155.391 billion. Also, in the same year, its members had grown to a staggering 12.4 million. Lastly, it holds a market share of about 6%.

9 American Family

American Family’s written premium is over $4 billion ever since coming into existence. Its operations started through making provision of insurance policies for farmers. As time went on, it would make these policies also available to non – farmers in the US. Over the years, this insurance company has grown to the extent of having over 11,000 in its payroll. It should be noted that this company is also known as AmFam. Some of its packages include casualty, auto, and property insurance. Its services are comprehensive, and you wouldn’t have to search elsewhere for your insurance needs to be met.

10 AmTrust group

AmTrust Group is an insurance company that has managed to adjust its services and packages to meet the ever-increasing demand of people to feel secure in various aspects. For instance, it doesn’t only offer casualty and property insurance. There are also packages designed for owners of small businesses to take advantage of to help them cushion the effects of any unforeseen loss.  It is located in the city of New York with over 9000 employees.

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