Competitor Analysis – Private Passenger Car Insurance: State Farm, Progress, GEICO, Allstate,

In response to the pressure of rising costs, auto insurance companies’ underwriting results have deteriorated, prompting major adjustments to their pricing strategies. “(Auto insurance providers) seek and get approval to raise interest rates. So you’ve been back-to-back for years, in some cases double-digit, with price increases. It peaked in 2024, and in the last five years, the coverage results are huge due to this dynamic,” Catherine Seifert’s research and analysis at the Center for Economic Research in Research, a seasonal study. She added that in January 2025, this was a key renewal period, and car premium costs experienced a modest pullback as consumer demand makes the line more competitive.