With the entire auto insurance carrier population out there competing for your attention and business, it can be overwhelming for some people to choose an insurer. Creative slogans, catchy jingles, and cute characters lure consumers in, but how can we know for sure which companies are worth using? This creativity may not be enough to convince some people they are reliable and worthy of their money. As with any investment, proper research should be done before handing over money for a product. The product could be faulty at one company, or it could be found cheaper somewhere else. Conducting thorough research will provide the information consumers need to choose the best rated car insurance companies.
The top 10 carriers will be given the highest ranks in many categories, not just one. And, there isn’t just one top insurance company. Because there are millions of consumers, there are millions of opinions. Not everyone shares the liking of the same companies, nor do they agree with one another about who is the best. This is why it’s important to look at a number of companies instead of just comparing two to each other.
What is there to compare? Simply speaking, price, customer service, and financial stability or the ability to pay out a claim are the basic minimum of what should be on the comparison list. Top 10 companies should all have positive marks when it comes to these important factors, and if a company you are considering doesn’t compare well, it should probably be scratched off of the list. We’ll go into a little more detail about what you should look for in these factors to get a complete comparison and wind up with a top company.
Price
Everyone is worried about saving money, which makes the premium price come to be the most popular factor when choosing an insurer. Even when it’s only a few dollars of savings each month, people switch companies to ensure they’re getting the best price possible. The only way to know you’re getting the cheapest price on the market is by doing a price comparison. We can give drivers a list of quotes from at least four companies when they fill out our easy questionnaire. These questions are quick and painless as they review information about the driver and the vehicle that needs insurance. The questionnaire begins by entering in the local zip code in the appropriate box on the Webpage.
However great a premium price may be, it’s important to also look at the rest of the company. They may have low prices because their customer service is horrible and they’re losing customers. Their low price may be an effort to get new customers to make up for the number of lost customers. On the opposite hand, their prices may be low because they have so many customers they can afford to give such prices and it’s completely legit. But you won’t know the reasoning until you further your searching.
Customer Service
If you don’t care about how a company treats you, you should really reconsider your thought process. Sure, it may be that there really isn’t any reason why you would need to speak with any representative of the insurance company because all of your questions can be answered on their Website, or because you can file any type of claim online, and on top of that you can pay your bill online instantly. That is a great thought and an added bonus if you really can do these things without the need for speaking to a representative or agent.
Nevertheless, there are unforeseen times when something occurs that will require you to speak with someone. For instance, if you have record of paying your bill but the insurer says you never paid it, you’d want to speak with someone right away instead of waiting for a response in your email. The same would hold true if you accidentally forgot to pay your bill and your policy was about to be terminated. Most people would want to pick up the phone and talk directly to a person to get the situation straightened out and avoid any cancellation of policy.
Customer service should be taken seriously by the company you’re working with. They should always be polite (and so should you as the customer) and know a great deal about the company they work for and the policy you have. It may not be conducive to someone’s schedule to contact every car insurance carrier to find out how they do over the phone, so sites like JD Power and the Better Business Bureau should be used to see how the company was rated by a third party. You can also check with your state’s Department of Motor Vehicles to see if anyone has complained about local insurers. Other Websites like MSN.com and Businessweek.com will occasionally post their findings on the customer service departments of different companies.
Financial Stability
It is imperative that you find out about the company’s financial status. Why? Think about the monthly payments you make to insure your vehicle. Something happens to you vehicle and you need to file a claim. The problem is, the company no longer has the funds to pay for your claim, and they go out of business, leaving you to pay for the damages yourself. That would be very misfortunate, but it can be avoided by checking out sites like AM Best and Weiss Ratings. They provide ratings that tell consumers which providers are “secure” and which ones are “vulnerable” to going out of business due to lack of funds. Standard and Poor’s Website also has a list of ratings for consumers to use.
Again, there is more involved in finding the top rated insurance companies than drivers initially think. The ad campaigns are very inviting, but they don’t always give you the information you need to make an informed decision. If you don’t know where to start, we’ll once more suggest our quote comparison feature that is easy and free to use. At least you will have access to a list of local companies that you can use to begin your comparison.
