There are a lot of factors to consider when choosing the best auto insurance companies. Bankrate Score, customer reviews, discounts, and data regarding complaints are some of the things you need to consider. Ultimately, it is up to you to decide which one is best for you. You need to be aware of the features you should look for in a policy.
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. The digital age is accelerating the pace of change for insurers. To remain competitive, they must adapt to rapid changes and constantly improve their offerings.
Bankrate scores insurance companies by analyzing third-party ratings and customer satisfaction scores. They also take into consideration their financial strength, as well as mobile and online accessibility. The overall score for each carrier is rated out of five points.
Get Discounts
There are usually discounts for multiple cars. This can save you anywhere from five to ten percent. The most common discount is the paid-in-full discount. This discount is a reward for paying your premium in full upfront. If you have a habit of paying your premium up front, you may get a discount between 5% and ten percent.
Multi-car discounts are another option. If you have more than one vehicle, you can also save money by insuring them under the same policy. Most insurance companies offer this discount. Progressive offers a 12% discount for multiple policies. Many major insurers offer discounts for multi-policy purchase. A student may be eligible for a discount. Geico, by example, offers a 15% Discount for Students
Complaint data
According to data collected from customers of auto insurance companies, they are not all equal. The most common complaint among insurance customers is when he or she has to make a claim. 68% were related to claims, with low settlements, delays in claims processing, and denial of the claim. The promise of prompt reimbursement is an attractive reason to purchase insurance. However, it can also be stressful and frustrating.
Consumers can determine a company's quality of service by using data from the NAIC complaint index. The index compares insurers' customer satisfaction to find out how they compare to the nationwide average complaint ratio. Complaint ratios can be calculated by comparing the company's number of complaints per $1 million of premiums received or the annual premiums. Less complaints mean better customer service.