How do I do car insurance company research?

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Here's what you need to know...

  • One of the most important car insurance factors to consider when buying auto insurance is the financial stability of the company
  • You can research the financial stability of an auto insurance company by visiting the website of an insurance rating organization
  • Another aspect you can research is an insurance company’s consumer satisfaction rating

When you are buying auto insurance, it is important to fully understand the kind of insurance you are buying.

It is also important to research and compare insurance companies to do your best to ensure that you are choosing a company that is financially stable and will pay any claims efficiently and fully.

There are numerous ways you can conduct your own research on auto insurance companies, most of which you can perform from the comfort of your own home if you have a computer and an internet connection.

An internet auto insurance company makes shopping easier than ever before, especially when you enter your zip code into our FREE auto insurance comparison tool above!

Financial Stability

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One of the most important car insurance factors to consider when buying auto insurance is the financial stability of the company. Insurance companies are financial institutions that must have significant amounts of money set aside as financial reserves.

These funds allow an insurance company to quickly and easily pay claims when filed by policyholders.

During catastrophic events, such as tornadoes, earthquakes or hurricanes, many claims may be filed by policyholders and insurance companies with strong financial reserves are able to pay those claims quickly.

You can research the financial stability of an auto insurance company by visiting the website of an insurance rating organization.

The most popular rating companies are AM Best, Fitch, and Standard & Poor’s. Each of these organizations regularly evaluates insurance company financial reserves, credit rating, and corporate financial strength.

The ratings of auto insurance companies of A+, A, or A- are in excellent financial condition. Insurance companies with lower grades have smaller financial reserves in place, less favorable credit ratings or are less financially strong.

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Consumer Satisfaction

Another aspect you can research is an insurance company’s consumer satisfaction rating.

JD Power and Associates conducts annual surveys to evaluate how happy consumers are with insurance company customer service, claims processing, rates and overall response to their needs.

These types can help you make a final decision when searching for a new auto insurance company.

Consumer Complaints

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You can also research an insurance company through the Better Business Bureau. The BBB will certify insurance companies that work with customers to resolve problems and are committed to providing excellent service to their customers.

The BBB also keeps records about insurance companies with high numbers of complaints that are filed with the BBB.

Your state insurance website is another source for information regarding auto insurance companies.

Each state maintains an informational website with information about insurance companies that are licensed to operate within their state.

In addition to licensing information, you can find out information about consumer complaints and lawsuits filed against auto insurance companies.

Comparison Websites

Another way to research auto insurance companies is through insurance comparison websites. Many comparison websites contract with multiple insurance companies and insurance agents to provide quotes for auto insurance.

As a result, you can receive quotes from several companies and only enter your information one time.

By comparing rates, you can have a better sense of what auto companies will provide you with reasonable rates for insurance coverage.

Many comparison websites have consumer forums on which visitors ask questions and talk about problems or issues they have had with an insurance company.

Auto Industry Websites

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Many websites that are dedicated to the auto industry have a section that is specifically dedicated to car insurance.

Auto industry websites can also provide you with information regarding the safety of specific car models, including insurance industry evaluations and repair rates.

These websites may provide detailed reviews of auto insurance companies, including consumer satisfaction, premium rate evaluations, and common consumer complaints.

Another source for information is insurance company websites. Almost all auto insurance companies have corporate websites which provide detailed information regarding their company.

You can find out about other insurance and financial products they offer.

You can also read about their company history, customer service philosophy and corporate structure.

Most auto insurance company sites also provide detailed information about their coverage and policyholder benefits. Additionally, you can gain insight into how easy or difficult it may be to file a claim online or speak with a customer service representative.

Unbiased comparison sites also provide a great opportunity to compare rates.

If you are in the process of buying auto insurance, it is important to research potential insurance companies as much as possible. While a company may have a snazzy television commercial tempting you to buy car insurance from them, advertising low rates

While a company may have a snazzy television commercial tempting you to buy car insurance from them, advertising low rates doesn’t guarantee they will provide you with the best insurance coverage possible.

Our FREE auto insurance comparison tool is available to you now when you enter your  zip code below.

FREE Auto Insurance Comparison

Compare quotes from the top auto insurance companies and save!

 Secured with SHA-256 Encryption

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