2nd CAR Update 2023: The MA Private Passenger Auto Insurance Marketplace

Agency Checklists second update of the year on the current state of the of the Private Passenger Automobile Insurance marketplace, focuses on the first market share data available for 2023, more specifically for January 2023, the latest date for which complete data is available.

As always, many thanks to the Commonwealth Automobile Reinsurers which acts as the statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts and provides Agency Checklists with all the data presented here.

So, without further ado, a look at the latest data points:

The Private Passenger Auto Insurance Marketplace

Exposures & Market Share as of November 2022

COMPANYEXPOSURESMARKET SHARE1. COMMERCE102,27621.13%2. GEICO68,56314.16%3. SAFETY45,0429.31%4. ARBELLA39,0138.06%5. LIBERTY MUTUAL38,0307.86%6. PLYMOUTH ROCK31,1666.44%7. PROGRESSIVE29,0736.01%8. STANDARD FIRE22,3634.62%9. U S A A17,3623.59%10. AMICA MUTUAL13,9402.88%11. METROPOLITAN12,9362.67%12. HANOVER12,8102.65%13. QUINCY MUTUAL10,4202.15%14. ALLSTATE8,3261.72%15. NORFOLK AND DEDHAM MUTUAL7,5611.56%16. AMERICAN FAMILY7,0271.45%17. VERMONT MUTUAL5,5661.15%18. PREFERRED MUTUAL2,0420.42%19. FOREMOST1,7090.35%20. STATE FARM1,6360.34%21. GREEN MOUNTAIN1,6140.33%22. ELECTRIC1,3420.28%23. TRUMBULL1,1450.24%24. FARM FAMILY9290.19%25. BANKERS STANDARD8230.17%26. CINCINNATI4760.10%27. MARKEL AMERICAN2950.06%28. AMERICAN INTERNATIONAL1960.04%29. HARLEYSVILLE WORCESTER1740.04%30. TOKIO690.01%31. FIREMEN’S INS CO430.01%32. MIDDLESEX380.01%33. PURE260.01%484,031100.00%

Agency Checklists’ Proprietary Retrospective of the PPA Marketplace

The following side-by-side comparisons allow our readers to review the state of the Private Passenger Auto Insurance Marketplace from various apsects over the past 10 years.

The first four side-by-side comparisons shows the January 2023 marketplace versus the same marketplace in January 2022, January 2021, January 2020, and January 2019. Following these graphs, are two additional comparisons between the top 10 insurers in January 2023 versus the top 10 insurers five years earlier in 2023, and then again from a decade ago in 2023.

While many conclusions may be drawn from the data presented below, Agency Checklists prefers that our readers do their own comparisons and draw their own conclusions. With that said, if any of our readers would like to share their own insights after comparing the charts below, we invite them to leave a comment below.