There are many factors you need to consider when looking at the best auto companies. Bankrate Score and customer reviews are just a few of the factors you should consider. Ultimately, it is up to you to decide which one is best for you. It doesn't matter if you are looking for a comprehensive policy or a liability policy. However, it is crucial to understand what features to look out for in a policy.
Bankrate Score
Bankrate does more than simply evaluate the top auto insurers. It considers customer service, technology, and digital resources. Insurers are rapidly evolving in this digital age. They need to adapt quickly and continuously improve their offerings to stay competitive.
Bankrate scores insurance companies by analyzing third-party ratings and customer satisfaction scores. Bankrate also takes into account their financial strength and accessibility online and via mobile. Each carrier is assigned a score out of 5.
Discounts
You can often get a discount on your insurance premium if you own more than one vehicle. This can help you save anywhere from 5 to 10%. Most common discount is called the paid-in full discount. This discount is a reward for paying your premium in full upfront. A discount of 5%-10% is possible if your premium is paid in full.
Multi-car discounts can also be availed. Insurance policies that cover multiple vehicles can be a cost-saving option. This discount is offered by most insurers. Progressive, for example, offers a 12% discount when you purchase multiple policies of car insurance. Many major insurers offer discounts for multi-policy purchase. Student members may also be eligible for a discount Geico, as an example, offers a 15% student discount.
Complaint data
The complaints data from auto insurance companies show that not all are created equal. The most common complaint among insurance customers is when he or she has to make a claim. In fact, 68% of all complaints were about claims-related issues, including low settlement offers, delays in the claims process, and outright denial of the claim. The promise of prompt reimbursement is an attractive reason to purchase insurance. However, it can also be stressful and frustrating.
The NAIC complaint index gives consumers the ability to assess a company's service quality. This index allows you to compare the complaint ratios of different insurers to determine their customer satisfaction. Complaint ratios are based on how many complaints a company receives per $1 million in premiums earned or the annual premiums. Insurers with fewer complaints tend to offer better customer service.