How do I find the best rated auto insurance company?

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Here's what you need to know...

  • You should compare the same types of auto insurance, same level of coverage, and same deductible levels to accurately compare rates between companies
  • One resource to compare cheap auto insurance premium rate quotes is independent insurance brokers
  • Another source for insurance quotes is corporate websites for insurance companies

When you are buying auto insurance, you want to choose a company that will provide you with terrific rates, excellent customer service, and pay claims quickly.

Finding car insurance companies that provide these services is not usually a matter of luck. It is a matter of doing your homework and research before making a purchasing choice.

There are many different places to find ratings of auto insurance companies and it is important to evaluate a number of insurance companies before you make your decision.

In addition to having some reliable customer reviews and professional rankings, you should compare auto insurance rates in order to get the best prices available.

Enter your zip code into our FREE car insurance comparison tool now!

Auto Insurance Rates

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Finding car insurance rates is actually fairly easy. You can get rates from a number of sources and it is a good idea to compare rate quotes from at least three insurance companies.

You should compare the same types of auto insurance, same levels of coverage, and same deductible levels to accurately compare rates between companies.

One resource to compare cheap auto insurance premium rate quotes is independent insurance brokers. Brokers usually represent several different insurance companies. As result, they can provide you with rate quotes and allow you to compare between companies.

Additionally, an independent broker may offer suggestions about the best level of coverage and help you understand your insurance needs better. They can also make recommendations on methods to keep your rates low.

Keeping your rates low should be done by an evaluation as often as possible.

You can also request car insurance premium rates from several auto insurance companies by visiting an insurance comparison website. Comparison websites allow you to enter your information one time and you receive quotes from insurance companies and agents very quickly.

Insurance comparison websites also often have informational articles about insurance.

Another source for insurance quotes is corporate websites for insurance companies. Almost all insurance companies have a corporate website that provides information about the company, including corporate structure, financial information and products and services they offer.

You can also usually request an online rate quote.

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Financial Ratings

In addition to finding out about premium rates, you should also investigate the financial stability of a potential insurance company. Financial stability is extremely important because if an insurance company is unstable, they will very likely have difficulty paying claims.

This can be particularly true for companies that are hit with multiple claims when an emergency event occurs.

Insurance companies are required to have significant financial reserves available for just such emergencies.

There are several companies that regularly evaluate the financial stability of insurance companies and other financial institutions.

AM Best, Standard and Poor’s, and Fitch are three of the best-known evaluation companies.

You can find out information about insurance company financial stability from evaluation company websites. This information can be extremely helpful in determining the right car insurance for you.

Rating levels are based on a letter grade system. Insurance companies with the highest rates are rated “A++,” “A+,” “A” and “A-.”

Companies with lower grade levels are considered less stable. Financial stability rates are based on financial reserves, financial practices, and credit rates.

Consumer Satisfaction

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Auto insurance companies with high consumer satisfaction rates are also considered some of the best insurance companies in business.

JD Powers and Associates conducts an annual survey of consumers to rate consumer satisfaction with auto insurance companies.

They publish their findings on their company website. Satisfaction rates are based on customer service, premium rates, and claims processing services.

Another source for information regarding customer satisfaction is the Better Business Bureau. The BBB publishes information regarding consumer complaints on their website.

Although the BBB will make an effort to mediate a resolution to consumer problems, they also report on the number and type of consumer problems any insurance company incurs. They also publish information regarding car insurance companies the BBB has certified as consumer friendly.

You can also measure how well-rated an auto insurance company is by whether they are operating legally and if they have had lawsuits filed against them.

Every state has a Department of Consumer Affairs, which regulates insurance companies operating in their state.

You can find out if an insurance company is licensed to operate in your state by visiting your state’s Department of Consumer Affairs website. You can also find out information about insurance agent and broker licensing on this website.

Additionally, you can learn about any lawsuits filed against car insurance companies.

Insurance Review Sites

You can also find out a great deal of information about car insurance companies from insurance review sites. Review sites provide reviews of numerous auto insurance companies, including products and services offered, customer service and premium rates.

Additionally, most review sites also have reports and reviews from consumers about their experiences with auto insurance companies.

You may also be able to request an auto insurance premium quotes from recommended insurance companies through an insurance review site.

When you buy car insurance, you want to get the best premium rates possible. However, you also want an insurance company that will pay premiums quickly and has excellent customer service.

It is important to evaluate all aspects of insurance when you buy coverage so that you get the best protection possible. Besides comparing premium rates, also consider consumer satisfaction rates, financial stability, and their legal standing.

To find auto insurance companies that excel in many categories, enter your zip code into our FREE car insurance comparison tool below!

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