Getting the right car insurance can actually be a huge challenge. You need to understand all the related terms and conditions, inclusions, exclusions, and whatnot. However, to live carefree, without the worry of losing your beloved car, it is important for you to hunt down the right insurance company. To help you find the best car insurance company which will stand by you in times of need and help your life get back on track, we have curated some of the tips that will prevent you from getting confused and getting in touch with the right organization.
Tips to follow while shortlisting the best Insurance Companies:
Check out the Department of Insurance Website for your State:
Most of the people out there might not be familiar with the same; however, each and every state in the USA has its very own Department of Insurance. The website of this department will help you review the “consumer complain ratio” for every company that sells car insurance in your state. This ratio basically allows you to know the number of complaints received by the company per 1000 claims.
Once you have shortlisted the companies with the best coverage and least premiums, you can further narrow down your list by picking the companies that have the lowest consumer complaint ratio. You can also check out the other state’s websites to get an idea about the overall complaints filed by the consumers against the insurer. Apart from that, if you are lucky enough, these websites may even offer you a comparison between different insurers to help you find the best insurance company for you.
Look for recommendations from Body Shops:
One of the best ways to know about the best insurance company is by getting in touch with your trustable body shop manager. Body shop managers are used to dealing with insurance companies and insurance adjusters on a regular basis. They would be able to tell you about the companies which have the smoothest and the fastest claim process, which can affect the quick renovation of your damaged vehicle. Apart from that, another important thing that your body shop manager can tell you about is the companies that try to push refurbished parts instead of original manufacturer parts to cut down their costs.
J.D Power rating may also be of great help:
If you wish to know the genuine reviews from the insurance policy consumers of individual insurance companies throughout the nation, there could not be a better source for you than J.D Power & Associates. They collect data from individual insurance holders and rate the insurance companies based on their coverage options, claims handling, prices, representative satisfaction, and much more. Visiting the J.D Power Consumer Center will allow you to compare all the insurance companies based on different criteria and help you pick the best one. Moreover, it even publishes an annual survey that comprises almost all the major insurance companies that you may pick to shortlist from.
Check Insurer’s financial strength ratings:
You certainly would not like it if you get to hear that your insurer is unable to process your insurance claim due to its poor financial condition. The financial strength of an insurance company is the very first thing that you need to check out before proceeding any further. Most of the insurance companies usually provide this information on their very own official website. However, if it is not present there, some of the most trustable sources that you can refer to check each company’s financial strength rating are “Standard & Poor”, “West Bend”, and “A.M. Best”. Pick only the companies that have a really strong financial strength rating and are not under review under any of the financial aspects to be on the safer side.
Check Company’s History and Reputation:
It is very important to pick an insurance company that has a pretty sound history and holds a good reputation in the market as well amongst all its consumers. Some of the questions that you may need to ask in order to trust an insurance company are:
- How long has the insurance company been in business?
- Which all are the states in which the company does and does not provide their services?
- What are the basic values of the company? What is their future vision?
- How much is the company involved within the local community?
- How has been their financial track record ever since its inception?
- Who are the people that preside over the company and how is their leadership?
- What are all the services and products that the company offers apart from insurance?
If you are able to find satisfactory answers to all the above-mentioned questions, only then decide to proceed further with the company. If you are not satisfied with any of the answers or find any discrepancy in any of the information provided, you probably need to look forward to a company that can completely satisfy you.
Compare Coverage and Prices:
Different types of policies, as well as companies, may have hidden clauses that may not cover certain damages or parts under various circumstances. Make sure to pick only the insurance company that offers you 100% coverage, without any objectionable conditions. Apart from complete coverage, the price premium of individual insurance companies also needs to be compared before finalizing your policy. It should not be the only factor that you should consider; however, if a company with the same track record is able to provide you with the same kind of coverage, it could never harm you to save a little there.
Pick a company that provides you easy communication:
The best insurance company is the one with who you can communicate with ease whenever required and get a prompt response without any wastage of your precious time. Ensure that the company that you finalize offers you all of the below-mentioned factors:
- Online Bill Payments
- Online Claim Report
- 24×7 Customer Service
- Easy Tractions in case of any claims
Try getting in touch with an agent:
Above mentioned points would definitely help you fetch the best possible car insurance company. However, understanding all the complex terms and details about vehicle insurance can actually be really complex for a common man. Therefore, if you are still unable to make up your mind and are unable to finalize one insurance company, you can always get in touch with an authorized insurance agent.
Typically, there are two types of agents, ones who represent only one company and others who represent a number of companies and are not dedicated to selling you insurance from only one particular company. You definitely need to get in touch with the second one who will allow you to understand the differences between the policies offered by different companies and would help you pick the best one. However, try to get in touch only with an agent referred through a trusted source.
All the above-mentioned points would certainly help you shortlist the best insurance company for your beloved car and provide you with peace of mind. We would recommend you to go in with the company that offers you the best coverage and the easiest mode of communication and claims, even if it means paying a bit on the higher side as it will surely pay you off in times of need!