How Did We Choose The Best Car Insurance Companies?
Here are the criteria we considered when we picked the best car insurance companies. The same applies to the process of choosing our carrier insurance companies.
Quality & Reputation
Only the most reputable insurance companies in the auto insurance industry make it to our list.
We don’t settle for less than an outstanding record and top-notch services. If there are any unresolved matters, safety concerns, or frequent complaints in an insurance company’s record, it is automatically eliminated from our shortlist.
Top insurance companies need to offer a variety of different insurance products and coverage options.
Many car insurance companies specialize only in these kinds of policies, but others also offer other types of insurance – such as home or life. And by bundling their policies, you can save up a lot in the long run.
Next, we try to find companies that offer special benefits for drivers, such as incentives for young drivers, opportunities for accident forgiveness, good driving record discounts, and more.
Also, we assess how the value of these products compares to their price. We identify affordable insurance companies that have cheap premiums while providing top-notch policies.
In addition to reading customer reviews on reputable websites, we consider insurance companies ratings to determine customer satisfaction:
J.D. Power Rating
J.D. Power offers some of the most valuable insights into customer satisfaction when it comes to auto insurance companies.
They annually collect data and analyze the market in their studies to assign the J.D. Power rating index to different brands, including life and auto insurance companies. The factors they assess are the billing process, claim satisfaction, interaction with customers, price, etc. – all of which are of tremendous importance for an auto insurance company.
The majority of the auto insurance providers on our list continuously rank high in terms of the J.D. Power rating index.
National Association of Insurance Commissioners (NAIC) Rating
National Association of Insurance Commissioners develops laws and regulations for auto insurance companies across the US states, but it also does research on companies.
This rating takes into account the financial practices of a company, their legality, statistical reports, and so on.
We also made sure that the auto insurance companies on our list have an excellent National Association of Insurance Commissioners rating.
Financial Strength A.M. Best Rating
While the J.D. Power and the NAIC rating deal with multiple aspects of insurance companies’ performance, A.M. Best Rating focuses on the ability of an auto insurance company to pay out claims to its clients.
A.M. Best ratings from A++ to B+ are positive, and they signal that a company can handle and process insurance claims quickly. All of the companies on our list fall under this category.