Auto Insurance Quote Review for Your Information in America 2023
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| Auto Insurance Quote Review |
Auto Insurance Quote Review. Have you thought about asking for a free auto insurance quote on the internet? Are you concerned because you may not know anything about the company providing the quote? Are you wondering how you can find out about the reputation of the company giving you a quote, especially when it comes to paying out claims?
This article will tell you how to find out about insurance companies: their financial stability and how many consumer complaints they receive, how to ask for a quote so you can compare apples to apples, and results of online quotes from eight known auto insurance companies.
How to find out the stability of an insurance company
The financial stability of a company is rated by A.M. Best and Standard & Poor's. These companies provide an independent opinion of an insurance companies ability to meet its ongoing policy and contract obligations. The A.M. Best rating is expressed as a letter grade from A++ (the highest) to D. It is recommended that you do not work with companies rating B or lower. The Standard & Poor's Ratings range from triple A (the highest) to CC. It is recommended that you do not work with companies rating lower than BBB.
How to find out individual policy holder satisfaction with an insurance company
Annually J.D. Power and Associates gathers data from policy holders nationwide regarding policy options, pricing, automated phone service and overall satisfaction, with the insurance company providing their insurance. The best rating is 5.
How to Find Out the Number of Consumer Complaints
The Department of Insurance for each state provides the general public with consumer complaint ratios. This ratio helps the consumer to identify the number of complaints per number of claims filed. A maximum of forty companies are compared. If more than forty insurance companies have complaints, only the forty companies with the most complaints will be compared. It is recommended that the complaint ratio be checked in three or more states to identify specific insurance company trends. A ratio of less than one hundred is better than average.
How to ask for a quote so you can compare apples to apples
A response to the following information must be decided before asking for an auto insurance quote:
Car make, model, year, current mileage
Deductible amount for collision, comprehension and liability
Coverage for medical
Purpose for using the car
Miles driven per year
Number of designated drivers
Drivers ages
What is the result of performing the above steps?
The Auto Insurance companies used for this Auto Insurance Quote Review are 21st Century, Allstate, Esurance, Geico, Nationwide, Safeco, The Hartford. These companies were selected based on longevity in the business and their familiarity to consumers throughout the United States. The stability, consumer overall satisfaction (Sat.), policy options (Opt.), price (of premium) and automated phone service rated as follows.
J.D. Power and Associates
Insurance Co. AMBest S&P Sat. Opt. Price Phone
21st Century A A 3 3 4 2
Allstate A+ AA- 3 3 3 3
Esurance A- n/a n/a n/a n/a n/a
Geico A++ 3As 3 4 4 3
Nationwide A+ A+ 3 3 2 3
Safeco A A- 3 2 2 3
The Hartford A AA- 3 3 4 3
The number of consumer complaints for these auto insurance companies rated as follows in the states of Illinois, Minnesota, Missouri, Texas and Kentucky.
The Complaint Ratio for Five States
Insurance Co. IL MN MO TX KY
21st Century n/a n/a n/a 199 n/a
Allstate 55 130 130 165 19
Esurance n/a 212 212 455 0
Geico 33 149 128 132 116
Nationwide n/a 76 76 131 0
Safeco 29 117 117 71 25
The Hartford 29 n/a 454 200 54
The Auto Insurance Quote Sample
The following information was used for all quotes:
2006 Toyota Camry 4dr v6 engine LE
50,000 miles
Driven under 9000 miles per year
Used for pleasure
$100 Deductible for comprehensive and collision
$250,000/$500,000 Liability & collision
$10,000 medical
One car and two drivers
Auto Insurance Quotes
The following six month policy quotes were received from each of the companies listed below:
Company Quote
21st Century $237.68
AllState $392.00
Esurance $343.00
Geico $260.10
Nationwide $415.40
Safeco $281.00
The Hartford $375.00
Ways To Lower The Premium
Most insurance companies will offer discounts for the following events:
Save driving record for 3 - 5 years
No minor infractions for 3 years
Anti lock devices installed in your vehicle
No DUI for the last 3 - 5 years
License not suspended for the past 3 years
Good credit rating
Car owned rather than leased or financed
A second vehicle is also insured
Other types of insurance is also purchased from them
High risk drivers can expect to have a higher premium. Not all insurance companies will insure them. In addition when a high risk driver has an accident, the insured can expect difficulty when attempting to get the vehicle repaired using car manufactured parts. Generally auto insurance companies will pay only for the cheapest parts available.
Some insurance companies offer a lower premium for the first year as an enticement to encourage you to get your auto insurance coverage through them. So always ask about the second year premium price.
Is It a Good Idea to Get a Free Auto Insurance Quote Online? Yes! Do It Now.
It is a good idea. You have nothing to loose and much to gain. There is no charge to get a free auto insurance quote, except for the time it takes to ask for the quote. Do it today. You can find out for yourself how your current auto insurance premium compares to other auto insurance company premiums.
Auto insurance coverage policies seem to vary significantly from company to company. Use the following tips to choose a reputable insurance company for your auto coverage.
State insurance departments, consumer agencies and independent research companies issue reports about insurance company performance in terms of consumer satisfaction. Always do some research and find out about your auto insurance company before you choose your insurer to avoid difficulties in getting the coverage you thought you were paying for. Insurance companies make more money when they can collect high premiums and pay out less on claims. When you're buying auto insurance, this rule applies and is the reason that customers often find themselves arguing with the company they're paying come claim time.
When you are dealing with an insurance agent, make certain the agent is legitimate. Insurance agents must be licensed by the state where they are selling insurance. If you are using an agent who is with a specific company, you can verify their association with that business by calling the company itself. By verifying your agent's qualifications you greatly reduce the possibility you will be sold an inferior or phony auto insurance product.
Remember, your insurance policy is a contract between you and the insurance company. You provide accurate information about your driving record and vehicle and the insurance company agrees to provide you with certain kinds of coverage at a particular price. As with any contract, the terms must be in the contract in order for them to be honored. During the course of your conversation with an agent, do not be afraid to ask what section of the policy covers a particular feature they are describing. When you get your insurance coverage you can then quickly check the policy to make certain you got the coverage you bargained for.
Consider what repair shops the insurance company you are using normally deals with. You will want to check distance from your home and research each repair shop to make certain it has not received multiple consumer complaints. The quality of the repairs your vehicle gets is important to you.
When you are shopping for auto insurance, you can use the Internet. However, before you submit your personal information everywhere it is a good idea to contact an individual agent at the company. The more you can verify about the company, the agent and the reputation of the company before sending out your personal information, the better. You can also choose to get preliminary quotes and information online and then visit local insurance company offices to complete the purchase of your policy with an agent you meet face to face. Also, having multiple quotes in hand you've received from an online auto insurance quote comparison service puts you in a better position to negotiate with a local agent.
Auto insurance is a highly regulated business. If you believe you are being pushed into a settlement amount or are being dealt with unfairly, before you sign any document regarding a claim, consult with an attorney and your state's insurance department.
When you choose an auto insurance company you are concerned with more than the cost of your insurance coverage. Use the above tips to make certain you're getting what you pay for.
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