Whenever a car owner searches for the best auto insurance company he normally looks at three key points: the premium rates, the flexibility of the policies and the customer service level. Of course there are variations for each of the factors, however there is a fourth aspect that is frequently neglected and that is a financial strength of the auto insurance company. This is precisely why any sensible car owner must look into the list of auto insurance companies to compare the ratings, since you do not want to end up insuring your vehicle with a firm that cannot uphold their part of the bargain.
How to Find Auto Insurance Companies’ Rating
Now, there is a way for an individual to figure out if the company is financially stable or if it is going through the liquidation process. Try to compare the rates by the taking the list of auto insurance companies that you are interested it and run it through the rating charts. There are several independent companies that evaluate the strength of certain firms, however just three would be enough and the most regarded are A.M. Best, Standard & Poor’s and J.D. Power. With the first firm the ratings range from A++ to D, while with the second one it is AAA to CC. A.M. Best strongly suggest to select companies no lower than B+, while Standard and Poor’s firm’s norm is BBB rating. The last one has just four points that are assessed: coverage options, costs, handling of the claims and the service level of the customer care representatives. If you don’t feel like utilizing the assistance of such organizations, auto insurance companies’ ratings from those firms are available on their main websites, especially if the rating is high.
List of Top 10 Auto Insurance Companies
Considering that there are over two thousand auto insurance companies throughout USA, narrowing it to top is still not such a big of an accomplishment, thanks to the rating of those three companies, mentioned above. Here is the list of best auto insurance companies available.
It is considered the top auto insurance company due to its pioneer method of shifting all of the dealing to the web, making them one of the most convenient companies to work with.
Not only Allstate is second largest shareholding insurance firm, but it also provides the most wide variety of insurances other than just auto insurance.
It is the third biggest company following Allstate not too far behind. GEICO is unique for its lifelong collaboration with military and governmental agencies.
Now, State Farm hold the biggest amount of shares, going over both GEICO and Allstate, consequently having a reputation to maintain.
Automobile Association of America (AAA) stands among the best auto insurance companies for many things, but what really distinguishes them from others is excellent roadside assistance service.
Even though Progressive is famous for its incredibly entertaining advertisements it rightfully earned the place in the top list of auto insurance companies for the mass amount of promotions and price reduction programs.
Although Nationwide auto insurance company provides very similar options like the rest of the top auto insurance companies, it is still among the most financially stable firms available.
Liberty Mutual Auto Insurance was included in the list of auto insurance companies for its efficiency as it earns the most out of 38 subsidiaries of Liberty Mutual Holding.
This firm has amazingly high amount of policy holders, all due to the extremely low rates that they provide, although they focus themselves with the low risk clients.
This auto insurance company provides one of the most competitive prices on the market at the same time maintaining very strong financial standing according to the auto insurance companies’ ratings of independent firms.