Auto Insurance Company Rankings

Why is it important to search out auto insurance company rankings? How does your car insurance company rank? When you are buying car insurance, you want to make sure that you are getting your coverage from a company with a high ranking in the following areas:

Multiple Coverage Options

Reasonable Rates

Satisfactory Handling of Claims

Good Customer Service

Overall Customer Satisfaction

J.D. Power and Associates Ratings

To learn more about insurance company rankings, visit the J.D. Power Consumer Center online. You will find information about the major insurance companies listed here, including the results of a survey conducted on an annual basis.

State Department of Insurance

Each state sets regulations for insurance companies, and the Department of Insurance web site for your state can provide you with information about the insurers who provide car insurance. Check the appropriate one for your state to find out whether you can access information about consumer complaints for your state. You are looking for the number of complaints that a particular company received per thousand claims it received from clients.

You can also get information about car insurance companies by looking at the Department of Insurance web site for other states. A company with a poor record for resolving customer issues in another location will likely have issues in your state as well.

Don’t Make a Decision on Name Recognition Alone

Simply because a particular insurance company is well known, that doesn’t necessarily mean it offers great customer service. As a conscientious consumer, you need to do your own research before you make a good decision about which company to buy your coverage from.

A company that offers low rates may not be such a bargain if you have a very difficult time reaching someone from the company to answer questions or deal with a concern. You also want to be sure to choose a company that will handle any claims made against your policy promptly and fairly.

Making the Right Choice

Part of the process, when choosing a car insurance company, is to get quotes from a number of different companies. This is a great place to start, and once you have this important information, you can start to rank the companies yourself.

Compile a list of the companies that can offer you the best rates for your coverage. Then make a list with the names of the companies that have the best record as far as avoiding customer complaints is concerned. Compare both lists.

Any company that appears on both of them is one that you will want to follow up on. Even if you are currently happy with the coverage you currently have in place, it will be worth your while to go through this exercise. That way, you will know how your insurance company rates. If you don’t like what you find out, then you can take the appropriate action to purchase new car insurance and find a new company to deal with.

Either way, it is recommended that all auto insurance policy holders compare rates from multiple companies at least once every 6 months to make sure that their rates are competitive and their coverage is sufficient. After all, a few minutes spent in research can result in hundreds or even thousands of dollars of savings!