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 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. Find out What Their Customers Think
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 very good measure for determining the best car insurance company for you.
4. Compare Car Insurance Rates
It’s not a good idea just pick the first good car insurance company you find. Typically, you’ll want to compare car insurance prices from at least 3-4 companies before making your selection. Compare.com can compare multiple car insurance quotes from the best insurance brands, all in one real-time quote.
If you take these steps to find the best car insurance company for you, you’ll be more likely to know just what you’re getting and can rest assured that you’ll be content with the service you receive from your chosen auto insurance company.
Buying auto insurance can be a confusing and disoriented process. We want to make sure that our users can make informed choices about their car insurance, selecting from as many options as possible. Read our Auto Insurance Buying Guide to educate yourself before you start a quote.