[February 24, 2020] The concept of insurance and the idea to spread risk is one of the most innovative, valuable thinking that has ever helped humans. It’s also an old idea. To see how we can do an even better job, today we look at the top insurance companies in the United States. By doing this, we can get a glimpse into the leadership employed, and the great value insurance provides.
Vehicle insurance is so valuable that it is legally required if we own and operate any vehicle anywhere in America. This requirement exists in all modern nations. Here in the U.S., insurance companies provide services in any area that has risk; home and auto ownership, investment, life, and health are the most common. Only our imagination limits what insurance can protect.
If we were to measure what makes a great insurance company, some things to consider are customer service, the balance of costs versus coverage, keeping customers updated on the status of their insurance plan and any claims, and working quickly to resolve any problem areas. US News and World Report annually rates car insurance companies and recently provided their list of the top insurance companies for 2020.
Here are their top nine:
- USAA
- Geico
- Allstate
- State Farm
- Farmers
- Progressive
- American Family
- Nationwide
- Travelers
US News built their list by using surveys of current customers to provide real-time feedback in several areas. These areas include: satisfaction with the ease of filing a claim, customer service, claim status communication, claim resolution, and overall value. US News further asked those surveyed if they planned to renew their policy. Also, they requested Quadrant Information Services to analyze a report of insurance rates in all 50 states from car insurance companies and used specific vehicles to study cross-company rates.
USAA again rated as either the best or near the top of American insurance companies. Customers “loved the company’s easy process for filing a claim…” The only negative found by US News was they the company limits its availability to U.S. veterans, members of the military, and their immediate families. You can find USAA core values here (see link).
Good article and, yes, please add more like this.
As a current active duty Marine, I have USAA insurance and can attest to their great service. My entire family has it and for everything — home, auto, investment, etc. Has been now about 10 years.
Good to get a testimonial.
Thank you Lynn. I just went back and read why Gen. Satterfield was out for a while. Also saw some new members to the forum. That is a good thing for us all. New ideas are always welcome.
Good article and welcome back to the fold, Gen. Satterfield. We certainly missed you for that week. My wife says to say ‘hello.’
Yes, and I said so in an earlier post. We are all looking forward to no missed articles in the future. But, we also understand you will be having another operation to get that peaky kidney stone out. Just keep us in mind. We’ll also be praying for a quick recovery.
Welcome back, Gen. Satterfield !!
Yeah! Welcome back to the great website of Gen. Satterfield. Another spot-on topic. We should all be looking at top companies and what they are doing right. Also, what failing companies that are doing wrong should also be something we study.
I have Farmers insurance and they are great to me. I used to have State Farm but dropped them decades ago because they were just too money hungry. They denied claims that were obviously wrong to do so. They’ve improved but I won’t go back. I guess they figured this out and are now a much better company.
I want to support what you’re saying here Yusaf from Texas. I too dropped State Farm. My aunt used to work for them and she even left (during sometime in the 1970s). Now she works for Progressive. I have my insurance with Progressive and they are pretty good.
Thanks Gen. Satterfield, I also enjoyed your article but didn’t realize until someone wrote about it that you have other articles that list the top in their field also; like the top airlines.
It won’t take long for you to start to see a pattern of articles and Gen. Satterfield does have a short list of mini-series blogs that create a pattern that is easily followed. Like here in this one, he lists the top car insurance companies. Other articles do the same and point out that to start, ‘core values’ is the beginning of the process of any commercial company to do well in the marketplace. That can also be applied to any group, family, institution, or anything that involves us old humans.
Hi Randy, haven’t seen you here before. Welcome. We are a close-knit group. Please continue to comment and join in the fun and education.
Yes, welcome Randy! ?
Welcome Randy. Hope your stay here will be great.
Loved today’s article and glad you are back on your feet, General Satterfield. Keep these articles coming to us daily.
Good idea here to provide the “top” performers in some given hierarchy like insurance. This gives us an idea to study what they are doing differently from the others that allows them to be at the top of their game. Leadership makes a difference but what exactly leadership is doing is what we need to know.
Scotty, I think if you check out the link provided at the end of the article on USAA core values and Gen. Satterfield’s series on ‘core values’ you will find what they are ‘seeing’ as the key characteristics that make a big difference. Getting people to agree to them is another matter.
Very thoughtful questions. Thanks guys!
My only comment would be that Gen. Satterfield should give us a little more on the specifics of what makes USAA, Geico, and the other top car insurance companies the edge to do so well.
Pretty well documented and traditional. I don’t think that there are many items in today’s article that are a surprise but the idea is well taken that looking at ‘what is right’ will always be a good way to make ourselves better.
Like so many readers here, we all need a little bit more to help us fill in the blanks, so to speak, so that we have a better idea of what makes the best performance in any company better than all the others.