You have your choice of car insurance companies. You can purchase your insurance from well-known national chains or you may choose one of the many smaller companies that are located in your towns and cities. Deciding which one would best fit your needs doesn’t have to be difficult; you just need to decide if you want something with a national presence or if you would rather have more of a familial setting.
National & Local Car Insurance Companies
National auto insurance companies are the ones that everyone has heard of; they have the largest advertising budgets and people are very familiar with their campaigns. Their name recognition puts them in the front of everyone’s minds when people need to purchase their auto insurance policies.
Extensive Auto Insurance Coverage
These national companies have several advantages to offer you. They have the ability to give you extensive auto insurance coverage beyond the liability coverage that every auto insurance company has to offer. For example, anyone who is looking for uninsured motorist coverage which doesn’t have to be sold by any auto insurance companies will, undoubtedly, find it with one of the national companies.
24 Hour-a-Day Service
Because these companies are so large and have a large employee base, they can offer you what is considered to be a very positive attribute; they can give their customers the ability to open a claim 24 hours a day. No matter what time the accident occurs, customers of national auto insurance companies can call the toll-free number their national companies have given them and report the accident.
National auto insurance companies are, generally, highly financially solvent. This means that they would be able to pay all of the claims they are obligated to pay if they were to be bombarded by several all at once. This can happen when natural disasters strike such as the hurricanes the country has recently experienced; these storms may be the cause of damage done to several vehicles in the area.
When several car owners in a hurricane area file claims at once for their comprehensive coverage benefits, large national auto insurance companies that are financially solvent don’t have any difficulties paying those claims. They have customers all over the country paying premiums to them and this widens their financial bases considerably.
Their Credit Ratings
The national auto insurance companies have been rated by credit ratings agencies such as Standard & Poor’s; it’s much easier for people to look up the financial solvency of a large chain. The financial solvency of a company is probably the most important thing to know about a company because if people can’t have their claims paid, their auto insurance is completely useless to them.
The Local Companies
It must not be taken for granted that the smaller local auto insurance companies don’t have anything to offer you. They have something very important that the larger chains don’t have: intimacy. When you call your local auto insurance companies, you can talk to the same person, your personal insurer, every time you call.
When you are with a local company, you will be able to go to the office in person and because it is so small, find the exact person you need to talk to at that moment. You can get to know your insurers and vice versa and this type of intimacy cannot be bought. It’s so important to people that they will choose to leave a company that can’t offer them the good customer service they expect.
The fact that you and your insurer can know each other so well makes it more difficult for insurers to avoid paying claims. You can always show up at their doorsteps and that can help move things along faster, since they aren’t likely to not be able to pay their claims.
Auto Insurance Ratings
The best auto insurance companies are, in part, based on their auto insurance ratings. You can find out what these are from J.D. Power and Associates. This company rates insurance companies based on five categories:
Pricing: Based on the customers’ belief that the amount of coverage and the price charged for it are fair.
Billing and Payment: Billing statements appear to be accurate and payment processes run smoothly.
Policy Offerings: The company offers several options in the way of policies and they serve their purposes well.
Contacting the Insurer: Relates to the customers’ interactions with the people they contact at their auto insurance companies.
Overall Satisfaction: This rating is based on how well the customers believe their auto insurance companies handle all of the transactions between them and their customers.
Top Rated Auto Insurance Companies
The top rated auto insurance company has been found to be Amica Mutual. It received five out of five stars on all five of the criteria described above. The second best auto insurance company is Erie Insurance with five out of five stars for the Contacting the Insurer and Pricing categories; they scored four out of five on the other categories.
The third best auto insurance company is called Shelter. This company scored four out of five stars on every category except Billing and Payment. On this category they received three stars.
How to Choose the Best Auto Insurance Companies?
In order to choose the best auto insurance companies, you can look into what the current clients have to say about their companies’ service and products. You do this by looking them up on the J.D. Power and Associates website.
After you have found that the current customers think highly of the company, you can make sure that the company is financially solvent by checking its credit rating. You can look into this information by consulting several credit ratings agencies such as:
Standard & Poor’s,
When you are looking for car insurance companies, several people have made making the best choices easier for you. They have already polled these companies’ current customers and given them a place to tell their stories. They have also let everyone know how well these companies can pay their claims. With all this information already out there, you have no excuses for not finding the best auto insurance companies in the country.