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Where can I get Auto Insurance Company Ratings?

Rating insurance companies like Geico, Progressive, AIG, and State Farm is done by several national rating institutions. They are responsible for providing the bare-bone facts, like the coverages and rates provided from company to company and making side-by-side comparisons. One of the greatest financial decisions you can make is selecting the right auto insurance company. Does it have the financial strength to cover you and your family? Financial strength ratings are calculated by analyzing a number of risks that could affect an auto insurance company's long term viability. Many insurance companies have folded due to poor financial strength, the rise of competition, or the ever-changing marketplace.

Two national rating institutions for auto insurance include Standard and Poor's and Fitch Ratings. Standard and Poors holds an outstanding cache of 4000 insurance company profiles with financial strength ratings.

Scout out potential car insurance companies by asking your friends about their experiences. Is the company's reputation good? Are claims processed quicker than the average? What about 24-hour claims service in case of emergencies? Does the auto insurance company have claims management in-house or do they outsource?

Auto insurance is strategically designed to protect your assets and removing you from liability issues. With a Grade A auto insurance company, you will be calm when its time to manage and pay the claim. Don't pay attention strictly to coverage rates, but on their overall rating and level of customer satisfaction as well. Consult with your insurance company's quarterly report, available t o the public. Look into their past performance to assume future expectations. A limited history is a surefire sign of trouble. Remember, Geico means more than addictingly entertaining commercials with talking animals and the dancing Mini-Me actor. Behind those crafty commercials is a reputable company, but its up to you to determine whether they're right for you.

Posted on: 12/5/06 9:59:00 P

 

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