(PDF Warning) https://www.naic.org/documents/topic_insurance_industry_snapshots_2018_annual_property_casualty_analysis_report.pdf https://www.naic.org/document

(PDF Warning) https://www.naic.org/documents/topic_insurance_industry_snapshots_2018_annual_property_casualty_analysis_report.pdf https://www.naic.org/documents/topic_insurance_industry_snap... The United States' property and casualty industry's total profit margin on the whole was about nine tenths of a percent in 2018, which was a reversal from being net unprofitable in 2017. There are about 2500 property and casualty insurance companies in the United States. Surely there's overestimation since (I'm guessing) the NAIC will count an insurance company in several states as several companies for the purposes of a count, but even if that's not the case, there are at least a hundred car insurance companies to choose from in any given state. The purpose of an independent insurance agent (if everything goes right) is to help a customer select the best policy for their risk, and there are a ton of independent insurance agents, so one hopes that severe price gouging doesn't persist. However, not everyone uses an insurance agent - or the agent only writes with one business - so in practice, this kind of overpaying can occur to lots of people.