There are a lot of factors to consider when choosing the best auto insurance 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 does not matter whether you need a comprehensive or liability insurance policy. You just need to know what features to look for.
Bankrate Score
Bankrate takes into account more than just the price when assessing the top auto insurance companies. Bankrate takes into consideration customer service, technology, as well digital resources. Digital age changes are driving rapid innovation in the insurance industry. They must keep up with this rapid change and improve their offerings in order to maintain their competitive edge.
Bankrate grades insurance companies based on third-party ratings as well as customer satisfaction scores. Bankrate also takes into account their financial strength and accessibility online and via mobile. Each carrier is given a rating out of five points.
Enjoy Discounts
If you have more than one car, you can usually take advantage of a discount on your premium. This can help you save anywhere from 5 to 10%. The paid-in-full discount is the most popular. This discount is a reward for paying your premium in full upfront. If you're in the habit of paying up front, you can usually receive a discount of 5% to ten percent on your premium.
Multi-car discounts are also available. You can save money if you insure more than one vehicle under one policy. Many insurers offer this discount. For example, Progressive offers a 12% discount on multiple car insurance policies. Other major insurers also offer multi-policy discounts. Student members may also be eligible for a discount Geico, for example, offers a 15% discount to students.
Complaint data
Data from complaints against auto insurance companies shows they're not all the same. When a customer has to file a claims, this is the most common complaint. 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 indicator gives consumers a way to gauge a company’s quality of service. The index can be used to compare insurance companies on customer satisfaction, comparing their complaint rate to the national average. Complaint ratios can be calculated by comparing the company's number of complaints per $1 million of premiums received or the annual premiums. Insurers that receive fewer complaints generally offer better customer service.