What Are Insurance Company Codes? (2024 Guide) (2024)

What Is an Insurance Company Code?

Insurance company codes are strings of digits used to identify specific providers. Each has two codes: one from the NAIC, and one from your state’s DMV. Here’s a breakdown of how each one works.

NAIC Code

NAIC codes are five-digit codes assigned by the National Association of Insurance Commissioners. NAIC is a regulatory oversight committee tasked with making sure insurance carriers abide by federal laws.

You can visit the NAIC’s website to find your insurance provider’s code. From there, you can use reports to learn more about a specific provider, such as:

• The number of closed complaints from customers
• Any enforcement actions against the provider
• The company’s financial data
• Market conduct reports

NAIC codes also allow you to file a claim of fraud against a specific provider. These codes don’t just apply to auto insurance policies. Providers offering any insurance (from health to homeowner’s to life) have at least one NAIC code.

DMV Insurance Codes

The DMV assigns a state-specific three-digit code for each insurance provider that operates within that state. This practice accounts for the differences in each state’s laws. You won’t need your DMV code to purchase an insurance policy.

How Do I Find My Insurance Company Code?

To find your provider’s NAIC, visit the NAIC website. You can find codes quickly by going to the Consumer Insurance Search Results page and typing in a company name. It also works the other way around where you can find a company by typing in the NAIC code. If you need your DMV code, look at your insurance documentation like your insurance ID card.

List of Insurance Company Codes

Here are some insurance carriers’ NAIC codes:

Other Ratings for Car Insurance Companies

There are a few more resources available to help you compare providers’ reputations:

• AM Best financial strength rating: This rating indicates the financial health of a company, taking into account income, expenses and debt obligations. The stronger the financial health of a provider, the better equipped it is to pay out claims. Ratings range from A++ to D.
• Better Business Bureau (BBB): The BBB assigns providers a grade from A+ to F. Providers with higher grades have higher levels of customer satisfaction and are prone to responding to customer complaints on the BBB site.
• J.D. Power Auto Claims Satisfaction Study℠: This quarterly study gives you insight into other customers’ experiences submitting claims with a particular provider.
• MarketWatch provider reviews: Our guide on the best car insurance providers can help you identify the right carrier for you and link you to our special brand reviews for companies like State Farm, Geico, USAA, Travelers and more.
• Social media: A provider’s social media presence can give you an idea of how that provider treats its customers. Look for mentions of common problems like long wait times or low claims-approval numbers.

How To Shop for Car Insurance

After you’ve identified some reputable insurance providers, you can get a quote for each by visiting the company’s website, calling an insurance agent or visiting a local office. You’ll need to have the following information on hand:

• Personal details: Include your name, address, date of birth, occupation, driver’s license number and how long each driver on the policy has had their driver’s license.
• Motor vehicle information: Supply the make, model, year, mileage and vehicle identification number (VIN) of the vehicle(s) you want to insure.
• Driving record: Include any moving violations, car accidents or serious traffic infractions (DUI, reckless operation) you’ve had in the past three to five years.
• Insurance coverages: Some providers offer discounts if you’ve had continuous coverage with other providers before making the switch.

It’s also important to note how insurance underwriters calculate rates.

Factors Impacting Car Insurance Prices

Here are some of the more important factors that determine what you’ll pay for auto insurance:

• Driving history: A clean driving record yields the lowest insurance rates. If you have had multiple accidents or speeding tickets, you’ll be considered a high-risk driver and will pay more for your coverage.
• Location: You’ll pay more to insure your car if you live in an area with higher incidences of theft or uninsured drivers. Drivers in no-fault states also tend to pay higher premiums than drivers living in at-fault states.
• Gender: Women generally receive lower insurance rates because they statistically cause fewer traffic fatalities. Some states like Hawaii and California don’t allow insurers to factor gender into rates.
• Insured vehicles: The higher the value of your vehicle is, the more expensive it can be to insure. Vehicles from certain manufacturers like Kia and Hyundai are also more susceptible to theft, so you might pay more to offset the higher risk.
• Credit: In many states, insurance companies can use your credit to determine your rate. People with lower credit scores pay more for insurance.
• Coverage options: Do you need liability-only insurance or full coverage with comprehensive and collision? If you opt for full coverage, keep in mind your deductibles also influence the total cost of your policy. Aim for a deductible of around $1,000 to keep your monthly rates affordable while minimizing the financial impact of accidents.
• Offered discounts: You’ll earn a safe driving discount with many providers if you’ve been accident-free for the past three to five years with no moving violations. You can also generate discounts for carrying at least a B average if you’re a full-time student, bundling multiple policies with one carrier or having a vehicle with the latest safety features.

Insurance Company Codes: The Bottom Line

When you shop for car insurance, you’ll want to make sure you’re looking at reputable providers. A provider’s NAIC code gives you access to any complaints and enforcement actions the provider has on file. The code can even help you accurately report fraud.

Additionally, each insurance company receives a DMV code. Unlike the NAIC code, DMV codes are state-specific. You can find the NAIC code for your provider on its website, while the DMV code is on your insurance ID card.

You can also look at J.D. Power consumer studies on insurance companies and AM Best financial strength ratings to gauge a company’s customer satisfaction and ability to pay out claims, respectively. Using these tools helps you find a reputable provider and avoid ones that fall short of other customers’ expectations.

Car Insurance Recommendations

With this information in mind, here are some of the top auto insurance carriers:

State Farm: Best Customer Experience

State Farm offers an excellent mix of coverage options with ample discounts to make them more affordable. You can buy liability-only or full-coverage policies with optional add-ons like emergency roadside assistance, travel assistance and more.

You can save an average of $1,073 by bundling your auto and home policies with the carrier. State Farm also offers discounts for safe driving, earning good grades and completing a defensive driving course. The company’s A++ rating from AM Best speaks to its excellent financial health and long-term stability.

Read more: State Farm Insurance Review

Geico: Best for Budget-Conscious Drivers

Geico is another provider with strong financial health, evidenced by its A++ AM Best rating. Geico offers liability- and full-coverage options, with add-ons for emergency roadside assistance, mechanical breakdown coverage and rideshare insurance.

The company also offers many ways to save on your next policy. You can get a discount for:

• Buying a new car
• Being a safe driver
• Earning good grades
• Bundling multiple policies
• Being a part of professional associations
• Being a veteran or active military member

Read more: Geico Insurance Review

Compare: State Farm vs. Geico

Car Insurance Company Codes: FAQ

Here are some frequently asked questions about car insurance company codes:

Our Methodology

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The result was an overall rating for each provider, with the insurers that scored the most points topping the list.

Here are the factors our ratings take into account:

• Cost: Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
• Coverage: Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
• Reputation and experience: Our research team considered market share, ratings from industry experts and years in business when giving this score.
• Availability: Auto insurance companies with greater state availability and few eligibility requirements scored highest in this category.
• Customer experience: This score is based on the volume of complaints reported by the NAIC and customer satisfaction ratings reported by J.D. Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.

Our credentials:

• 800 hours researched
• 45 companies reviewed
• 8,500+ consumers surveyed

*Data accurate at time of publication.