Picking an Auto Insurance Company
There are dozens of auto insurance companies, all bombarding you with ads in print and over the airwaves. How do you choose the best one for you?
The first thing to do is visit your state’s department of insurance web site. Every state has one and most of them have a section of consumer complaint ratios. These figures tell you how many complaints were made for every thousand claims filed. If an insurance company has a high ratio of complaints, you may have a big headache if you have to make a claim. If your state doesn’t have that information, check a couple of other states’ sites. Compare them with the companies on your short list of carriers with favorable terms and premiums. Remember, just because their slogan makes you feel cool or warm and fuzzy doesn’t mean they’re the ones you should choose to insure your car.
Another way to cull through your list is to ask some body shops who they recommend. They deal with insurers every day and can tell you which ones push for use of aftermarket parts in order to cut costs. Body shops also know how many of their clients have had bad experiences with which insurance companies.
Be sure to check a carrier’s financial health by checking the A.M. Best and Standard & Poor ratings. If an insurance company is creeping toward insolvency or has regulation violations, they’re probably not a good choice for you.
If you’re still undecided, an independent agent can steer you towards the best companies for your needs.
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