Overview Of Geico, Allstate Corp.

Among the about 150 insurance agencies authorized to compose individual auto approaches in New York, Geico, Allstate Corp. (NYSE: ALL) and State Farm make up the top level of organizations as measured by composed premiums. Starting 2013, the latest year for which industry information is accessible, these three organizations consolidate to serve almost 57% of collision protection purchasers in the state. Just three different states have a higher convergence of piece of the pie among the main three suppliers. In the following level of organizations, Progressive Corp. (NYSE: PGR), Liberty Mutual and Travelers Companies, Inc. (NYSE: TRV) join to serve an extra 18% of the New York market. All other auto insurance agencies working in the state fall

(NYSE: BRK.A), is the top auto insurance agency in New York with more than $3.2 billion in composed premiums. The organization controls only under 29% of the business sector, about twice as much as the second-positioning safety net provider, Allstate. Geico has enhanced its position in the business sector, posting piece of the overall industry increases of 3% somewhere around 2011 and 2013, the best execution among the state 's top suppliers. No other supplier in this rundown has increased more than 1% piece of the pie over the same period.

Allstate

With more than $1.7 billion in composed premiums and 15.5% of the business sector, Allstate comes in as the second greatest auto back up plan in New York. While the organization is still a goliath in the business sector, it has lost ground. Allstate 's yearly composed premiums fell about $162 million somewhere around 2011 and 2013, a period amid which its piece of the pie declined by 2.6%. Consolidated with Geico 's additions in this period, the piece of the overall industry hole between the main two organizations has enlarged from 8.1% in 2011 to 13.5% in 2013.

State

State Farm has indicated dependability, keeping up its 12.5% piece of the overall industry from 2011 to 2013, even as the general size of the business sector developed more than 3% every year. In spite of the fact that the organization puts third in the condition of New York, State Farm is the biggest auto back up plan in the nation with a national piece of the overall industry of around 18.5%. It is likewise specified among the best-appraised auto back up plans broadly.

Dynamic

Dynamic has a piece of the overall industry of around 6.9% in New York on composed premiums of $765 million. Albeit Progressive is a long ways behind the top organizations regarding piece of the overall industry, it has made strong additions. From 2011 to 2013, Progressive moved past Liberty Mutual to wind up the fourth greatest auto safety net provider in the state. It expanded its piece of the pie by 1% amid the period, the second greatest addition among the organizations in this rundown.

Freedom