August 27, 2009

Oldest Auto Insurance Companies In The United States

Some of the oldest auto insurance companies in the U.S. include Allstate, GEICO, and Farmers Insurance. All three companies are still key players in the auto insurance market, and continue to service millions of U.S. customers. From autos to collective automobiles, they continue to provide auto insurance coverage in every state of the Union. Allstate, founded in 1931, is the second largest personal line insurer in the U.S. Based in Northbrook, Illinois, and led by CEO Thomas J. Wilson; Allstate remains a premier auto insurance provider in the country today. They are known for dependable service, prompt responses, and assisting their policy-holders in a fair and timely manner. They live by their company slogan, ‘You’re in good hands’, and have recently tackled a large amount of auto insurance claims from individuals who’ve incurred injuries from insured members. Due to a rise in falsified claims, Allstate has been vigilant in rooting out invalid claims, while securing the best possible outcome for all parties involved in legitimate incidents. Their ‘Your Choice Auto’ option is one of the most popular products they feature, as it offers lower deductibles and accident forgiveness plans.

The Government Employees Insurance Company, GEICO, is also a top American auto insurance company. Founded in 1936, the company is based out of Chevy Chase, Maryland, and is led by CEO Olza M. Nicely. They currently provide coverage for over 10 million motor vehicles, owned by more than 9 million policy holders. Like Allstate, GEICO remains a prominent player within the auto insurance spectrum, and services all 50 states and the District of Columbia. With 23,000 employees, they are a wholly owned subsidiary of Berkshire Hathaway, and are known the world over for their advertising mascot, a talking gecko. GEICO is considered a first rate auto insurance company, specializing in private passenger coverage at affordable rates. Their incentive plans help lower costly premiums, and they believe in offering real-time access and quotes to their patrons.

The Farmers Group of companies is the third largest insurance group in the U.S. Farmers continues to service over 10 million customers in 41 states. Founded in 1928, and led by CEO Bob Woudstra, Farmers is known for impeccable services. The company remains a key element in the national auto coverage scope. From motorcycles to automobiles, they believe in offering affordable coverage, while meeting the needs and concerns of their policy-holders. They are also highly ranked by Standard and Poor’s, Moody’s Investor Service, and A.M. Best Company.

Although several new multi-insurance companies have flooded the market, Allstate, GEICO, and Farmers remain the upper echelon of auto insurance companies. Along with State Farm, they are considered the cornerstones of the auto insurance industry.