Here are the 2022 Rankings of the Most Reliable Insurance Companies

Top insurance companies know that they sell something intangible – peace of mind – so trust is essential. This is why insurers stay close to policyholders.


Primerica (AT) is a newcomer among the top three IBD life insurance companies. It topped this year’s survey with a score of 83.4 following its approach to selling long-term insurance on Main Street USA.

The company also took the No. 3 spot on IBD’s overall list of the 25 Most Reliable Companies to Invest in. This year’s survey, IBD’s third, is presented in partnership with our sister company, MarketWatch.

Insurers in three lines of business – life, auto and home – were included in the customer survey that created the rankings. The top three in each line of business are considered the most reliable in the industry.

Primerica CEO Glenn Williams (Primerica)

“Our culture is unique and our approach to market is unique,” said Glenn Williams, CEO of Primerica, which is based in Duluth, Ga. Competitors are said to chase wealthy customers and offer high-value policies that combine life insurance with an investment vehicle.

New York Life took 2nd place in this year’s survey, with a score of 72.5. Coming in at No. 3 is Prudential (PRU), scoring 69.9.

Primerica’s Williams defines the middle market as households with a household income of $30,000 to $100,000. “Their pocketbooks are small,” he said.

Top Insurance Companies Train Their Reps

Selling life insurance requires a smart touch. Many people are afraid to talk about their death, and hit will affect their loved ones.

Primerica salespeople can explain this difficult issue. You have over 132,000 independent contractors across America. Because of the company’s scale – it insured more than 5.7 million lives as of December 31, 2021 – it can license its internal salespeople instead of relying on third parties.

“We have the infrastructure in place to not only license them, but to teach them leadership and marketing,” Williams said.

Primerica also allows its salespeople to work part-time. And they often live in the communities they serve.

“Having the flexibility to work part-time helps us retain agents,” Williams said. “Our four-year retention rate is almost double sales. And our salespeople come from the middle market. They connect with that market through their common experiences.”

Trust comes from a consistent, hassle-free purchase. Like other life insurers, Primerica uses medical records to screen applicants. But it streamlines the steps.

3 Most Reliable Life Insurance Companies

Company Group Total number Goodness Ethics Privacy Customer service Price Sensitivity to Customer Needs New
Primerica Life Insurance 83.4 86.5 78.9 86.3 83.3 83.2 81.5 84.0
New York Life Life Insurance 72.5 73.3 73.8 79.5 76.3 65.4 65.5 68.0
Prudential Life Insurance 69.9 72.4 72.5 79.0 71.5 58.7 62.9 64.6

“We use a lot of technology to shorten the long process,” Williams said. “Our customers set a price for convenience and ease of interaction. When they buy time (insurance), it’s not just about price. It’s about speed and convenience.”

In recent years, so-called “insurtech” companies have tried to streamline the purchasing process with more technology. But Williams thinks Primerica’s human touch sets it apart.

“Insurtech companies talk about how they use technology to make customer interactions easier and more convenient,” he said. “We believe we can do this with a combination of mentorship and technology.”

Top Auto and Home Insurance Companies

USAA is at the top of all auto and home insurance categories for the third year in a row. His score of 85.3 also placed him at No. 1 on the top 25-year list of the Most Reliable financial companies (see the summary of the 2022 survey). Founded in 1922 by military officials, USAA sells insurance to current and former US military personnel, their spouses and their children.

Most Reliable Auto Insurance Companies

Following USAA in the auto category are State Farm (71.2) and Geico Insurance (70.9), a subsidiary of Berkshire Hathaway (The value of BRKB)

“USAA has a very good reputation, and their customers don’t come with gloves on when it comes to what they want,” said Amy Bach, executive director of United Policyholders in San Francisco, a nonprofit consumer advocacy group. “People’s expectations are good from the start,” and that sets the stage for a high-trust, low-key relationship.

Trey Salmon, 57, is an example. A retired US Marine Corps Gunnery Sergeant, he started with USAA when he got his first car back in 1985. Over the years, his trust in USAA has grown.

3 Most Reliable Insurers

Company Group Total number Goodness Ethics Privacy Customer service Price Sensitivity to Customer Needs New
USAA Auto Insurance 85.3 73.6 70.7 75.6 72.6 55.3 60.7 63.6
State Farm Insurance Auto Insurance 71.2 67.9 63.6 69.9 66.0 52.8 60.6 56.2
Geico Auto Insurance 70.9 67.7 63.2 62.9 60.8 57.9 47.9 52.1

“I’ve filed three traffic charges, two not guilty and one misdemeanor, and all three times USAA has had bright colors,” said Salmon, who lives in Cordele, Ga. “My money never went up, though. after my at-fault accident. They gave me an accident waiver.”

A score of 76.8 made USAA the largest home insurance company this year. Behind him in second place is American International Group (AIG) (AIG, 75.8) and State Farm (71.2).

Most Reliable Home Insurance CompaniesSalmon also enjoys USAA home insurance. In the 22 years he has bought home insurance, he has filed two lawsuits. When his wife’s $6,800 diamond ring was stolen, the company sent an immediate refund. And after a 2008 hurricane destroyed his roof, he appreciated the quick work.

“We had a new roof in three weeks,” Salmon said. “Any time I need USAA, they’re there. And they always call me, ‘Gunnery Sergeant Salmon.’ “

3 Most Reliable Insurers

Company Group Total number Goodness Ethics Privacy Customer service Price Sensitivity to Customer Needs New
USAA Home Insurance 76.8 78.7 76.9 80.6 79.1 70.7 75.5 69.9
American International Group (AIG) Home Insurance 75.8 75.4 76.2 74.3 77.4 73.8 79.1 73.5
State Farm Insurance Home Insurance 71.2 73.7 74.6 79.0 74.8 60.2 63.7 62.8

USAA also builds trust by avoiding the pitfalls that other insurers fall into. When customers call with concerns, USAA reps usually focus on solving the problem.