What makes good auto insurance companies good?

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Things to Remember...

  • You get a few quotes and choose the auto insurance coverage that gives you the most coverage for the best price
  • Good customer service, without a doubt, is one of the top characteristics of good auto insurance coverage from a good company
  • One important aspect to research about a potential insurance provider is their financial stability
  • When you have not had an accident and do not need to file a claim, it may not seem important that claims be processed quickly and efficiently
  • When shopping for a good car insurance company, evaluate how much their service is personalized for your specific needs and circumstances

On the surface, finding good car insurance should not be a difficult prospect. You get a few quotes and choose the auto insurance coverage that gives you the most coverage for the best price.

Our FREE auto insurance comparison tool will give you rates for different amounts of coverage available to you when you enter your ZIP code.

However, finding good auto insurance coverage from a good company may mean doing a bit of homework on your own and researching auto insurance companies to ensure that when you need them, they will be available and provide you with the best financial protection possible.

Customer Service

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Good customer service, without a doubt, is one of the top characteristics of good auto insurance coverage from a good company. Customer service should be available around the clock, preferably by telephone in an emergency.

For example, if you have an accident and you are unable to drive your car, will they be able to arrange for you to have immediate transportation or will they be able to assist you in arranging a rental car?

When talking to various potential car insurance companies, ask about when customer service is available and what kind of assistance they can provide if you have an accident.

Be wary of car insurance companies that only offer customer service through email or online chat. The biggest auto insurance companies should offer you more personalized service.

If you have a real emergency and need immediate assistance, you will need to be able to call a customer service agent on the telephone immediately to report the accident and for guidance on your next steps.

Financial Stability

Cheap car insurance companies are only as stable as their financial resources. One important aspect to research about a potential insurance provider is their financial stability.

A good insurance company should have a large amount of financial resources held in reserve to pay insurance claims, particularly if there is a disaster and they are hit with large numbers of claims at the same time.

You can find out about financial stability and rating by visiting rating companies like AM Best, Standard and Poor’s, Weiss Research, Duff and Phelps and Moody’s Investor Services.

Many insurance companies publish their rating on their company website, particularly if they have received a very high rating, such as an “A,” “A+” or “A.”

Customer Satisfaction

Another quality of a good auto insurance company is high customer satisfaction ratings. Every year, JD Powers and Associates publishes customer satisfaction ratings and provides information about the top insurance companies based on customer satisfaction surveys.

You can also find customer satisfaction ratings from sources such as Consumer Reports and auto insurance comparison websites.

Another source of customer satisfaction information is the Better Business Bureau. While this is a good source to find out about complaints, particularly if there are a large number of complaints, the Better Business Bureau also has a certification program.

Their certification program evaluates a company’s dedication to providing excellent customer service and commitment to resolving customer problems fairly and effectively.

Claims Processing

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When you have not had an accident and do not need to file a claim, it may not seem important that claims be processed quickly and efficiently. However, when you need to use your insurance coverage, claims processing becomes extremely important.

A good car insurance company will be able to process claims very quickly, particularly if they are simple damage claims.

Larger auto insurance companies have their claims process completely automated and the majority of the claim can be completed online.

As a result, when you take your car to a mechanic or auto body shop, they are able to enter all of the relevant estimate information online. They receive payment quickly once the estimate is approved and the repair work is completed.

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Price

Price is always a major factor in choosing an auto insurance company. Low-cost inexpensive car insurance can be tempting, but it is important to factor in all aspects of your auto insurance needs when making purchasing choices.

Even if the price is really low, you will end up spending more money if the insurance provider is not able to process your claims or denies claims when you really need their financial protection.

When talking to a potential auto insurance company, honestly evaluate what kind of coverage and the quality of the coverage you are getting for the price.

A good auto insurance company will offer you discounts as part of their pricing structure. Many good insurance companies offer discounts if you have multiple cars on your policy.

They also offer discounts if you have more than one policy or if you have your insurance bundled with other types of insurance coverage, such as rental, homeowners, life or boat coverage.

Other kinds of discounts include good student discounts, senior discounts, good driver discounts, loyalty discounts and safety equipment discounts.

Personalized Service

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Auto insurance is not a “one size fits all” prospect. When shopping for a good car insurance company, evaluate how much their service is personalized for your specific needs and circumstances.

For example, does the representative you are speaking with take the time to ask about how much you drive your car and if you use it in association with work.

Do they ask you about other aspects of your life that may influence what level of insurance you need and what types of auto insurance coverage are best for your situation?

In addition to determining what level of insurance you may need at the moment, a good car insurance company will also take into consideration your future needs.

This quality can be especially valuable when your car insurance comes up for renewal.

If your circumstances have changed, it may be important to reevaluate your needs and consider changing your auto insurance coverage. A good auto insurance company will have a system in place to provide for reevaluation at each and every renewal term.

There are many good auto insurance companies offering coverage. Finding the one that fits your needs best is a process of research and evaluation as you compare companies and rates.

You can start the comparison process by contacting local independent insurance agents, who usually represent multiple companies and can offer you personalized service.

You can also compare auto insurance companies by visiting online car insurance comparison websites or by going directly to several auto insurance company websites. Enter your ZIP code into our FREE auto insurance comparison tool now!

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