Top 10 Best Auto Insurance Companies
What’s the best auto insurance company in the business? That depends on who you ask and what the criteria are. If you’re asking car insurance customers, they will most likely be voicing their opinion based on cost, customer service, and claims service. If you’re talking with someone in the financial services industry they will probably rate insurance companies based on their financial strength and future outlook. Because the criteria are so subjective it’s really difficult to come up with a definitive answer.
Nonetheless, we have surveyed a number of auto insurance review websites that ask their readers to vote on their insurance companies. We have compiled the results, crunched the numbers, and added the financial strength ratings from A.M. Best to come up with our own list. Based on our research the top 10 best auto insurance companies in America are:
- Liberty Mutual
- State Farm
- 21st Century Insurance
Where most consumers are concerned the annual cost of their car insurance weighs most heavily on the decision of whether or not a company is a good one. The fact is that most of us will never file an insurance claim in our lifetimes, so we view paying into an auto insurance policy as a waste of money. That forces most of us to look at the best auto insurance companies merely in terms of cost. Right or wrong, that’s the reality. But never forget that cost means nothing if you have an accident and can’t get your claim settled to your satisfaction.
Customer service and claims service are the next two biggest factors consumers use to rate their car insurance companies. Lest you think they are the same thing, they’re not.
Customer service is what you deal with when you’re calling for quotes, trying to make changes to your policy, or asking billing questions. Claims service is what you deal with when you have an accident and you’re trying to file a claim. They are viewed separately by the insurance industry because they are typically two separate departments within an insurance company staffed by two different groups of people. Those who have never filed a claim typically put more weight on customer service, while those who have filed claims give more weight to claims service.
It would be unfair to rank the top 10 best auto insurance companies without considering financial strength. That’s because an insurance company is only as good as its ability to pay on claims. A company with a strong financial rating and a good future outlook is in the best position to take care of its customers from a financial standpoint. If you’re shopping for new car insurance, and you’re considering a company that is not considered a “big name” be sure to check their financial strength rating before you proceed.
Now that you have all this information in hand, what do you think is the best auto insurance company in America?