Which insurance company has the most complaints?
The auto insurance company with the most complaints is United Automobile Insurance, which receives roughly 40 times more complaints than the average insurer its size, according to the latest NAIC complaint index.
Why it's the best: American Family received far fewer customer complaints to state regulators for auto insurance than similar-size companies and had the lowest rate of complaints out of the insurers on our 2024 best companies list.
| Company | Forbes Advisor Rating | Our expert take |
|---|---|---|
| Nationwide | 5.0 | Best overall |
| USAA | 4.8 | Best for military members and veterans |
| Travelers | 4.7 | Great for drivers with speeding tickets |
| Erie | 4.6 | Best for drivers who caused an accident |
Executive Life Insurance Company (1991) - One of the largest life insurance companies in the US, it went bankrupt due to investment losses in junk bonds.
While 100% of complaints in Vermont were about claims, 79% of the complaints lodged in Maryland were related to policy cost and cancellations. California was the state with the most home and auto insurance complaints, recording 772 complaints in 2019 – most of which were related to unsatisfactory settlements or offers.
Considering State Farm and Geico are the two biggest auto insurance companies in the U.S., most drivers can find what they need from either company, whether that's minimum or full coverage. However, there are a few key differences between State Farm vs. Geico when it comes to auto insurance options.
| Rank 2023 | Companies | Turnover |
|---|---|---|
| 2022 | ||
| 1 | State Farm | 78.64 |
| 2 | Progressive | 52.33 |
| 3 | Berkshire Hathaway | 56.88 |
State Farm, American Family, Geico and Progressive are the cheapest car insurance companies for most drivers. USAA has even cheaper rates, but only military members, veterans or their families can qualify. *USAA is only available to military members, veterans and some of their family members.
- #1: United Health Group (UNH)
- #2: Berkshire Hathaway Inc. ( BRK.B)
- #3: CVS Health Corp Group (CVS)
- #4: The Cigna Group (CI)
- #5: Elevance Health Inc. ( ELV)
- #6: Centene (CNC)
- #7: Ping An Insurance (PNGAY)
- #8: Allianz (ALIZY)
Which insurance company has the highest claims paid?
In terms of number of policies settled during 2022-23, Max Life Insurance has the highest claim settlement ratio of 99.51%. With a 99.39% claim settlement ratio, HDFC Life Insurance came second on the list. Aegon Life Insurance bagged the third position with a 99.37% claim settlement ratio.
| Company | Policygenius rating | AM Best rating |
|---|---|---|
| Lincoln Financial | 4.8/5 ★ | A |
| MassMutual | 4.9/5 ★ | A++ |
LIC emerges as the strongest global insurance brand with a steady brand value of USD 9.8 billion.
| Provider | Star Rating | A.M. Best |
|---|---|---|
| Our Top Pick Allstate Get Quote | 4.8 | A+ |
| State Farm Learn More | 4.8 | A++ |
| American Family Learn More | 4.7 | A |
| Nationwide Learn More | 4.6 | A |
What is the most common customer complaint? There isn't just one most common complaint, but some of the top issues include long wait times, unresponsive agents, bad customer service, lack of self-service options, and poor product or service quality.
- Allstate. We know you have seen the ads. ...
- Unum. Unum is a leading disability insurance provider in the United States has a reputation for denied and delayed insurance claims – even when claims include their own employees. ...
- State Farm. ...
- AIG. ...
- Anthem. ...
- Farmers Insurance Group. ...
- UnitedHealth. ...
- USAA.
Allstate and State Farm have similar customer satisfaction ratings, but Allstate coverage costs almost twice as much as State Farm's on average. Allstate offers tourist car insurance for travelers in Mexico, a type of coverage not offered by State Farm.
Who is more expensive, Allstate or State Farm? Allstate's average auto insurance rates are significantly higher than State Farm's. The average annual cost of a full-coverage policy from Allstate is $2,598. For State Farm, the average annual cost is $1,697.
- #1: USAA »
- #2: Auto-Owners »
- #3: Nationwide »
- #4: State Farm »
- #5: Geico »
Geico is not owned by Progressive. Berkshire Hathaway owns Geico, while the Progressive Corporation is an independent company. Progressive is the second-largest auto insurance company in the U.S., according to the NAIC.
Who owns Progressive insurance?
Progressive is owned by its shareholders, as it is a publicly-traded company. The biggest shareholders are The Vanguard Group, BlackRock Fund Advisors, and Wellington Management, which have a combined ownership stake of almost 20%, according to public records, as of Q1 2021.
Max Life Insurance has the greatest claim settlement ratio in terms of claim number, with 99.34% for the fiscal year 2021-22. Exide Life Insurance and Bharti Axa Life Insurance came in second with a 99.09 percent death settlement percentage.
- Liberty Mutual: Our pick for discounts.
- Allstate: Our pick for extended coverage.
- Progressive: Our pick for bundling.
- Farmers: Our pick for customizable coverage.
- American Family: Our pick for online resources.
The average cost of homeowners insurance nationwide is $2,601 a year, but rates vary by state. Oklahoma is the most expensive state for home insurance at $5,858 a year, while Hawaii has the lowest home insurance rates, averaging $613 a year.
USAA Bank products are only available to military members, veterans who have honorably served, and their eligible family members. Use of the term "member" or "membership" refers to membership in USAA Membership Services and does not convey any legal or ownership rights in USAA.
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