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 February 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

COMPANY	EXPOSURES	MARKET SHARE
1. COMMERCE	169,227	20.15%
2. GEICO	131,712	15.68%
3. SAFETY	72,633	8.65%
4. ARBELLA	64,183	7.64%
5. LIBERTY MUTUAL	63,999	7.62%
6. PLYMOUTH ROCK	56,291	6.70%
7. PROGRESSIVE	55,735	6.64%
8. STANDARD FIRE	38,854	4.63%
9. U S A A	29,327	3.49%
10. AMICA MUTUAL	22,526	2.68%
11. METROPOLITAN	22,353	2.66%
12. HANOVER	21,694	2.58%
13. ALLSTATE	16,518	1.97%
14. QUINCY MUTUAL	16,023	1.91%
15. AMERICAN FAMILY	12,338	1.47%
16. NORFOLK AND DEDHAM MUTUAL	12,331	1.47%
17. VERMONT MUTUAL	9,174	1.09%
18. PREFERRED MUTUAL	3,538	0.42%
19. FOREMOST	3,304	0.39%
20. STATE FARM	2,993	0.36%
21. GREEN MOUNTAIN	2,807	0.33%
22. PURE	2,613	0.31%
23. ELECTRIC	1,958	0.23%
24. TRUMBULL	1,953	0.23%
25. BANKERS STANDARD	1,742	0.21%
26. FARM FAMILY	1,516	0.18%
27. CINCINNATI	992	0.12%
28. MARKEL AMERICAN	520	0.06%
29. AMERICAN INTERNATIONAL	330	0.04%
30. HARLEYSVILLE WORCESTER	254	0.03%
31. TOKIO	155	0.02%
32. MIDDLESEX	131	0.02%
33. FIREMEN’S INS CO	107	0.01%
	839,834	100.00%

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 February 2023 marketplace versus the same marketplace in February 2022, February 2021, February 2020, and February 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.