Top 10 Automobile Insurance Companies

The top 10 auto insurance companies are located in cities all across America. The staggering amounts of revenue they reported for 2009 serves as a basis to rank them.



1. State Farm

Ranking No. 1 is Bloomington, Illinois-based State Farm Insurance, with revenue of over $60 billion in 2009. In addition to being the number one auto insurance company, it is also No. 1 in home insurance, and has grown its offerings to include consumer banking and business loans.



2. Allstate

The "good hands" company based in Northbrook, Illinois, ranks in second place, having generated over $32 billion in revenue in 2009. To remain competitive the company offers auto owners with roadside emergency services and banking to keep on par with leading rival State Farm.

3. Farmers Insurance
Hollywood, California, is home to Farmers Insurance. The company is subsidiary of the $70 billion-dollar Zurich Financial Services Company, which is based in Switzerland. As a result, the company performs business management tasks, distributing policies and collecting premium payments, and says services are governed by Zurich.

4. Liberty Mutual
 Boston-based Liberty Mutual holds the fourth position. The company achieved close to $29 billion in revenue though a sales strategy that incorporates independent agents, exclusive agents, brokers and direct-to-consumer sales representatives.

5. The Hartford
Since 1810, Hartford, Connecticut has been home to The Hartford Financial Services Group. The fifth place auto insurance provider covers drivers through the company's property and casualty division, contributing to over $24 billion in sales, generated by over 11,000 independent agencies nationwide.

6. Nationwide


Nationwide, based in Columbus, Ohio, is No. 6, generating over $22 billion in revenue. Nationwide prides itself in providing customers with a portfolio of services including auto insurance, 24/7 claim service and discounts for repairs, and is one of the leading insurers for leased cars in the United States.

7. Progressive

Progressive made its mark in the auto insurance business by providing coverage for high-risk drivers. The strategy paid off in 2009 revenues of over $14.5 billion. Based in Mayfield Village, Ohio, Progressive coverage includes commercial vehicle insurance for heavy trucks, light trucks and vans.

8. Esurance

San Francisco is home to relative newcomer but rapidly rising star Esurance, with reported 2009 revenue of over $10 billion. The company claims over 500,000 drivers are on its roles for coverage. The company's business model integrated Internet sales with telephone sales to achieve growth. The strategy captured the attention and wallets of consumers in 28 states, especially younger drivers.

9. GEICO

Fort Worth, Texas is the home of GEICO and the wildly popular green gecko that serves as the company spokesperson on commercials. The company is a subsidiary of Berkshire Hathaway, which is headed by Warren Buffett, one of the wealthiest men in the world. GEICO had revenue of over $9 billion in 2009. GEICO stands for Government Employees Insurance Company.

10. American Family Insurance

"Bucky" the Badger, mascot for the University of Wisconsin, has American Family Insurance as a roommate in Madison. American Family gains a seat with the top 10 because the company's auto insurance business provides the lion's share of close to $7 billion in annual revenue.
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Corporate Lessons

CORPORATE LESSON 1

A man is getting into the shower just as his wife is finishing up her shower when the doorbell rings. The wife quickly wraps herself in a towel and runs downstairs. When she opens the door, there stands Bob, the next door neighbor. Before she says a word, Bob says, 'I'll give you $800 dollars to drop that towel."

After thinking for a moment, the woman drops her towel and stands naked in front of Bob. After a few seconds, Bob hands her $800 dollars and leaves. The woman wraps back up in the towel and goes back upstairs. When she get to the bathroom, her husband asks, "Who was that?"

"It was Bob the next door neighbor" she replies.

"Great!" the husband says. "Did he say anything about the $800 he owes me?"

Moral of the story: If you share critical information pertaining to the credit and risk with your shareholders in time, you may be in a position to prevent avoidable exposure.

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CORPORATE LESSON 2

A sales rep, an administration clerk, and the manager are walking to lunch when they find an antique oil lamp. They rub it and a Genie comes out. The Genie says, "I'll give each of you just one wish."

"Me first! Me first!" says the admin. clerk. "I want to be in the Bahamas, driving a speedboat, without a care in the world." Poof! She's gone.

"Me next! Me next!" says the sales rep. "I want to be in Hawaii, relaxing on the beach with my personal masseuse, an endless supply of Pina Coladas and the love of my life." Poof! He's gone.

"OK, you're up," the Genie says to the manager. The manager says, "I want those two back in the office after lunch."

Moral of the story: Always let your boss have the first say.

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CORPORATE LESSON 3

A crow was sitting on a tree, doing nothing all day. A rabbit asked him, "Can I also sit like you and do nothing all day long?"

The crow answered, "Sure, why not?"

So, the rabbit sat on the ground below the crow, and rested. A fox jumped on the rabbit and ate it.

Moral of the story: To be sitting and doing nothing, you must be sitting very high up.

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CORPORATE LESSON 4

A turkey was chatting with a bull. "I would love to be able to get to the top of that tree", sighed the turkey, "but I haven't got the energy."

"Well, why don't you nibble on my droppings?" replied the bull. "They're packed with nutrients."

The turkey pecked at a lump of dung and found that it gave him enough strength to reach the lowest branch of the tree. The next day, after eating some more dung, he reached the second branch. Finally after a fourth night, there he was proudly perched at the top of the tree. Soon he was spotted by a farmer, who shot the turkey out of the tree.

Moral of the story: B.S. might get you to the top, but it won't keep you there.

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