Maryland Insurance Companies Market Share Data

I’m always reading about how State Farm and Allstate dominate auto insurance nationally. Our accident lawyers seem to see more of GEICO than any other insurance company. This morning, I found an article with auto insurance market share data that lists the top 5 car insurance companies by market share in Maryland for private passenger cars.

Maryland Market Share for Car Insurance

1. Berkshire Hathaway/GEICO:  25.3%
2. State Farm: 17.5%
3 Allstate: 12%
4 USAA: 9.0%
5 Erie Insurance: 8.2%
6 Progressive: 7.7%
7 Nationwide: 5.9%
8 Liberty Mutual: 3.3%
9 Travelers 102,687 1.9%
10 Agency Insurance: 1.0%

Maryland Market Share for Commercial Insurers

Here are the top 10 commercial insurance companies in Maryland in 2019:

1. Chubb:  6.9%
2. Travelers Companies Inc. 336,668 6.3%
3. Erie Insurance Group 259,217 4.8%
4. Hartford Financial Services 252,773 4.7%
5. CNA 210,425 3.9%
6. Liberty Mutual 204,010 3.8%
7. Chesapeake Employers’ Insurance Co. 197,939 3.7%
8. Berkshire Hathaway Inc. 180,114 3.4%
9. Zurich 179,106 3.3%
10. Nationwide Mutual Group 3.2%

I’ve never done a study of the auto accident cases we have in our law office, but this data does not surprise me. Our Maryland accident lawyers certainly see Erie Insurance more than 6.1% of the time, but certainly, they write more commercial policies than these other insurance companies that end up in litigation.

Speaking of Erie, it is interesting that Erie and Agency (with their measly 1%) are the only insurance companies on this list that does not have in-house counsel in Maryland. Their defense lawyers—Erie seems to use Rollins Smalkin, mostly in Baltimore, and McCarthy Wilson throughout much of the rest of Maryland – are good lawyers, but I have to think that paying their hourly rates makes defending Maryland auto accident case more expensive for Erie than it is for the four insurance companies ahead of them on this list.

Why Isn't MAIF on the List of Top Ten Insurance Companies in Maryland?

MAIF is technically not an insurance company under the statutory scheme that created MAIF/Maryland Auto Insurance.

Who Writes the Most Homeowners Insurance Polices in Maryalnd?

State Farm, with who I have homeowners insurance with myself, is #1 with 17.6% of the market share in Maryland.

Who Writes the Most Commercial Insurance Policies Nationwide?

Progressive writes the most commercial insurance policies in the county. This surprised me at first. But think about it. Small businesses that cannot afford a lot of coverage are going to turn to Progressive.