Selecting the right insurance provider is a crucial step for anyone looking for reliable coverage and long-term value in Massachusetts. The state’s insurance market is diverse, with numerous carriers offering various advantages in terms of product options, service quality, and financial strength.
This article provides an overview of the leading insurance companies in Massachusetts, helping you compare different options based on your specific needs. Understanding the major players in the market can guide you in matching clients with the most suitable insurers. The following sections highlight the top insurance providers in the state, based on their market share and key offerings.
The 10 Largest Insurance Providers in Massachusetts by Market Share
Below is a list of the top 10 insurance companies in Massachusetts, ranked by their market share according to data from the IB+ Data Hub.
You can explore additional data on Massachusetts and other states across various insurance lines by visiting the IB+ Data Hub, where data can be filtered by year, state, line of business, and more.
1. Travelers Group
Market Share: 7.55%
Travelers is one of the most prominent and well-established insurance companies in the U.S., with a strong presence in Massachusetts. It offers a wide range of personal and commercial coverage options, including auto, home, renters, and business insurance. Travelers is highly regarded for its financial stability and its ability to provide protection against property damage and liability risks.
Travelers provides several add-ons for auto insurance, such as collision coverage, gap insurance, new car replacement, and uninsured motorist coverage. Their policies meet the state’s minimum requirements for bodily injury liability and property damage. Travelers also offers digital tools to manage policies and obtain quotes online.
Key Products & Features:
Green home coverage
Identity fraud expense reimbursement
Special personal property coverage
Personal articles floater
Water backup and sump pump discharge coverage
Extended replacement cost coverage
Private flood insurance (via Neptune Flood partnership)
2. Liberty Mutual Group
Market Share: 6.03%
Headquartered in Boston, Liberty Mutual is not only a leading auto insurer in Massachusetts but also one of the largest insurers in the U.S. The company offers a wide array of personal and commercial insurance products, including customizable policies, a broad agent network, and digital tools for claims and policy management.
In Massachusetts, Liberty Mutual provides various auto insurance coverages, including liability, property damage, and uninsured motorist coverage. The company offers additional options like higher limits for bodily injury and property damage protection.
Key Products & Features:
Teachers’ auto endorsement
Blanket jewelry add-on (renters’ insurance)
Specialty commercial programs
Liberty Cyber Resolution (Cyber insurance)
Liberty Tech Resolution (Cyber and tech E&O insurance)
3. Chubb Ltd. Group
Market Share: 5.98%
Chubb is known for its premium insurance offerings, including home and auto coverage tailored for high-net-worth individuals. While Chubb’s policies are often priced higher, they cater to clients seeking high coverage limits and specialized services. In Massachusetts, Chubb offers luxury vehicle insurance, worldwide rental car coverage, and repair shop flexibility.
Key Products & Features:
Agreed value coverage (Auto)
Worldwide rental car coverage
OEM parts guarantee (Auto)
HomeScan service (Home inspections)
Extended replacement cost (Home)
Cash settlement option (Home)
Cyber insurance for individuals
4. Progressive Group
Market Share: 5.88%
Progressive is popular for offering flexible car insurance options, discounts, and online rate comparison tools. The company provides a variety of auto coverages, including liability, collision, and comprehensive insurance, as well as unique features like telematics-based insurance to reward safe driving.
In Massachusetts, Progressive’s digital platforms make it easy for customers to file claims and manage policies. The company also offers coverage for rideshare drivers and pet injury protection.
Key Products & Features:
Snapshot program (Telematics insurance)
Name Your Price tool
Pet injury coverage (Auto)
Rideshare coverage
Custom parts and equipment (CPE) coverage
Small business insurance bundles
Trip interruption coverage (Motorcycle/RV)
5. Berkshire Hathaway Group
Market Share: 5.51%
Berkshire Hathaway, through its subsidiaries like GEICO and Berkshire Hathaway Specialty Insurance (BHSI), is a major player in both personal and commercial lines. GEICO, in particular, is known for offering affordable auto insurance in Massachusetts, while BHSI provides commercial coverage.
Berkshire Hathaway’s insurance portfolio includes auto, motorcycle, homeowners, and specialty insurance. GEICO is especially noted for its affordable auto coverage and unique products like Mechanical Breakdown Insurance.
Key Products & Features:
GEICO Mechanical Breakdown Insurance (MBI)
Cyber liability and incident response
GEICO Prime Time Contract (for drivers 50+)
Professional liability for emerging industries
Pay-As-You-Go Workers’ Compensation
Multinational program management
6. Plymouth Rock Insurance Group
Market Share: 5.11%
Plymouth Rock Insurance, a regional carrier based in Boston, is known for its strong local presence and responsive claims service. The company offers a wide range of insurance products, particularly focusing on auto insurance in Massachusetts, with a network of independent agents.
Key Products & Features:
Get Home Safe program (Rideshare reimbursement)
Door-to-door valet claims service
Crashbusters Mobile Claims
Pledge of Assurance (Service commitment)
7. Arbella Insurance Group
Market Share: 4.6%
Arbella is a regional insurance provider serving Massachusetts and neighboring New England states. Known for its strong local presence, Arbella offers a wide range of personal and commercial coverage, with specialized options for small businesses and commercial vehicles.
Key Products & Features:
Carpartment endorsement (Auto and renters’ insurance bundle)
Auto loan/lease gap coverage
Identity fraud expense coverage (Home)
8. United Services Automobile Association (USAA)
Market Share: 2.8%
USAA primarily serves military members, veterans, and their families. Founded in 1922, USAA is known for its customer service, competitive rates, and comprehensive coverage options. In Massachusetts, USAA offers various personal insurance products, including auto, homeowners, and renters insurance.
Key Products & Features:
Military installation discount
Deployment storage protection
Overseas auto insurance
Replacement cost coverage (Home)
Earthquake and flood insurance add-ons
Personal cyber protection
9. Farmers Insurance Group
Market Share: 2.96%
Farmers Insurance, headquartered in California, offers a wide variety of personal and commercial insurance products, including auto, homeowners, and life insurance. Known for its customizable policies, Farmers provides a range of options to cater to diverse client needs.
Key Products & Features:
Customized equipment coverage (Auto and motorcycle)
Eco-Rebuild coverage (Home)
Identity Shield (Home)
Signal telematics program
10. American Family Insurance Group
Market Share: 2.12%
American Family, also known as AmFam, is a national insurer offering auto, home, renters, life, and business insurance. While it mainly focuses on homeowners and renters insurance in Massachusetts through its subsidiary, Homesite Insurance, AmFam offers a range of policies nationwide.
Key Products & Features:
Hidden water damage coverage
Matching siding protection (Home)
Equipment breakdown coverage (Home)
Service line coverage (Home)
Smart home discount
How to Choose the Right Insurance Provider in Massachusetts
When deciding between the top insurance providers in Massachusetts, start by identifying your specific needs, such as basic auto coverage, protection for a high-value home, or a policy for a small business.
To make an informed choice:
Compare premiums and discounts: Look for policies that fit your budget and identify any discounts available.
Check for unique add-ons: Ensure the policy offers coverage for specialized needs, such as high-value items or eco-friendly home features.
Review independent ratings: Consider each insurer’s financial strength and customer satisfaction ratings.
Eligibility: Confirm eligibility requirements, such as USAA’s military family criteria.
Agent vs. digital tools: Consider whether your client prefers to work with a local agent or manage everything online.
Once you’ve gathered all the necessary information, present the options clearly to your client, helping them weigh the pros and cons of each choice. This ensures they make the best decision for their coverage needs in Massachusetts.