What is the top auto insurance company?

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Things to Remember...
  • Finding the top auto insurance company is a matter of finding which company caters to the personalized factors that affect you most
  • Amica should be the choice for those who have an exemplary driving history and excellent credit
  • Amica is ranked the best for customer service and financial stability
  • Make sure to get auto insurance quotes once a year to make sure that you are getting the best rate

Finding the top auto insurance company is a matter of finding which company caters to the personalized factors that affect you most. You may find a company or policy that gives you the best option after you compare rates online.

Enter your ZIP code into our FREE car insurance comparison tool to find rates from several companies that will let you make an informed decision about your auto insurance.

That being said, Amica Mutual Insurance Company may be considered the top auto insurance company according to several rankings.

Founded over a century ago in Rhode Island, Amica is the oldest mutual insurer of automobiles in the United States. Amica employs 3,100 employees in 40 offices nationwide and does business in every state except Hawaii.

The auto insurance company rating industry has consistently given Amica superior marks in terms of customer satisfaction and financial strength.

Amica Ranks Best in Customer Satisfaction

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One of the most highly regarded indicators of customer satisfaction is the annual National Auto Insurance Study performed by J.D. Power & Associates. This is a good way to determine if your auto insurance company is rated well.

Every year, J.D. Power contacts thousands of policyholders and asks them to rate their current insurance carriers in five categories:

  • Policy offerings
  • Pricing
  • Billing and payment processing
  • Customer interaction
  • Claims processing

Policyholders rate their insurance carriers on a scale of 0 to 5. In 2012, Amica scored a 5 in all of the categories except claims processing, in which Amica scored a 4, or “better than most.”

Nevertheless, Amica’s overall customer satisfaction score was a 5. In contrast, the average overall customer satisfaction score for all auto insurers included in the study was a 3, or “about average.”

Pricing

Amica has competitive pricing because Amica is quite selective as to who it insures. Amica is a mutual insurance company, meaning that it is owned by the policyholders, not stockholders.

Consequently, unlike State Farm or Allstate, Amica will not insure drivers who have had too many accidents, tickets or a bad credit rating because such drivers pose too much risk.

However, Amica’s stringent acceptance standards should not be construed as a negative because the fewer number of claims that Amica must pay as a result of careless policyholders, the fewer premiums Amica’s careful policyholders must pay.

Perhaps this is why Amica’s customers gave Amica high marks for its pricing of its insurance polices relative to the level of coverage. Also, Amica has a Value Expert Rating of 4 out of 5 stars.

A “Value Expert Rating” is the measure of a company’s average premiums across four states. The four states sampled to determine Amica’s value expert rating are California, Arizona, Texas and New York.

This rating also takes into account driver profiles. A score of 4 out of 5 stars indicates that Amica has fairly low insurance premiums relative to its auto insurance competitors.

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Award Recognition for Excellence in Customer Service

Amica was recently recognized at J.D. Power’s Customer Service Roundtable as “2012 Customer Service Champion,” one of only 50 companies who was recognized for providing exceptional customer service in their own industry and among leading brands in 20 major industries.

Because of Amica’s excellent customer service, Amica won the award for “Highest Customer Satisfaction Among National Auto Insurers” for the 12th consecutive year.

Amica is Also Financially Stable

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As of December 31, 2011, Amica had $4.1 billion in assets and 1.36 million policies in force. Although Amica is not an insurance giant like State Farm or even a Fortune 500 company, Amica is still a financially solid company.

A.M. Best has repeatedly given Amica’s financial strength an A++, or superior rating. The financial strength rating is a measure of insurance company’s ability to meets its ongoing insurance obligations.

A.M Best also considers Amica’s current financial outlook as stable, meaning that Amica’s A++ or superior financial strength rating is not likely to change in the next 12 to 36 months.

Further, Amica has a Financial Strength Expert Rating of 4.88 out of 5. This rating is a weighted average of the financial strength and credit ratings issued by A.M. Best and Standard & Poor’s.

Note that A.M. Best and Standard & Poor’s are two of the leading ratings companies that gauge the financial strength of insurance companies.

What is best for me?

While Amica is the top auto insurance company, both in customer satisfaction and financial strength, Amica is not for everyone.

Amica should be the choice for those who have an exemplary driving history and excellent credit.

Drivers who do not have those qualities are better off going with one of the big insurance companies, like State Farm or Allstate.

Online Auto Insurance Comparisons

To get a quote from multiple auto insurance companies, enter your ZIP code and information into our FREE online auto insurance comparison tool.

You will receive quotes from many auto insurance companies to help you make an informed decision. Internet access has made a wise decision concerning car insurance easier than ever.

Check Amica’s rates as well as rates from other auto insurance companies online in order to make sure you are getting the best rates.

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