How Do I Find the Best Car Insurance Company?
With hundreds of car insurance providers offering coverage in 51 insurance districts in the U.S., it can be a difficult task to find the best car insurance company for you and your specific insurance needs. Not to worry, we have some great tips on how to sift through all those car insurance companies.
How to Find the Best Car Insurance Company
When it comes to finding the right coverage, everyone’s needs differ. The best car insurance company for one person may not always a good car insurance company for the next. This is why it’s important to do your research before making your final choice. We have put together a few tips to help get you started on finding the insurer that’s right for you.
1. Check Your State’s Insurance Department Website
Each state in the U.S. has an insurance department which is responsible for regulating auto insurers within that state. Their website can be a valuable resource for information such as complaint filings and licensing information. Additionally, many state insurance department websites make public car insurance companies’ insurance rate filings. This means you can see how often each insurance provider requests to raise its rates, as well as how often those requests are granted.
2. Check the Insurance Company’s Financial Rating
Car insurance providers are financial institutions and as such, it’s important to know their rating to understand how secure the company is (and that it’s not overextending itself, or insuring more than it can afford to pay). Two of the top financial rating groups are:
- Standard & Poor’s
- More commonly known as S&P
- A.M. Best
- A.M. Best is particularly important as they specifically rate insurance companies.
3. Research Online Customer Reviews of Insurers
While the ratings of insurance and financial analysts are very important, when it comes to figuring out whether or not you’ll be happy with a certain car insurance company, you need to see what their customers think of them. Look for specific information, such as the ease of filing an insurance claim, the length of time it takes the company to settle an insurance claim and how easy it is to reach an agent or customer service professional.
Customer service is a great measure for determining the best car insurance company for you.
4. Compare Car Insurance Rates
It’s usually not a good idea to pick the first car insurance company you find. Typically, you’ll want to compare car insurance rates from at least 3-4 companies before making your final selection. Take the time to review both large insurers and smaller car insurers.
If you enjoy saving time, Compare.com can compare multiple car insurance quotes from some of the best insurance brands instantly. You enter your information only once and can compare quotes side by side to find the best price.
By taking these steps to find the best car insurance company for your situation, you’ll know exactly what you’re getting and can rest assured that you’ll be happy with the service you receive from your chosen auto insurance company.