Auto Insurance Market Size and Competition

The size of the US auto insurance market is $330 billion in 2023. Only 5 companies, State Farm, GEICO, Progressive, Allstate and USAA, have 60% share of the market, although there are many other well established carriers serving owners of nearly 104 million personal automobiles in the country satisfactorily. So, when motorists switch providers, they…

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Pay-In-Full Auto Insurance Discount

Providing they have the money; this is one of the easiest car insurance discounts motorists can get since all they need to do is pay premiums in full upfront to save on average 9%, which isn’t a small amount for most people. Furthermore, they avoid paying installment arrangement or service fees that reduce costs another…

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Do I Need Insurance to Register a Car?

States rigorously enforce the minimum auto insurance liability coverage requirements they set by laws. It is now much harder to drive undetected thanks to online connectivity between them and carriers. Generally, you cannot register a car if you don’t have the proof, which is another layer in the system to ensure people are buying at…

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What Is a Car Insurance Quote?

When motorists want to buy a policy they need to answer a few questions about their vehicles, theirselves, whoever else will be driving it and coverage required. An auto insurance quote is an estimate of the premium one particular insurer proposes to charge, based on the coverage requirements and details provided by the applicant. It…

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Does Liability Insurance Cover my Own Car?

Every motorist has different coverage requirements and expectations. You may be buying auto insurance just to comply with the state laws. Then Liability coverage may be enough. But you need to manage expectations, as policies with only state minimum limits are very basic. They don’t include many things and may not even provide sufficient defence…

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Is It Illegal To Not Have Car Insurance?

Yes, car owners must buy at least minimum liability auto insurance to be able to drive it legally. Federal laws require every driver to have liability insurance to protect the interest of pedestrians, other road users, vehicle and property owners against damages and injuries caused by driving a vehicle. Every state implemented federal laws into…

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