There are many things to consider when selecting the best auto insurance company. Bankrate score, Customer reviews and complaints data are all important factors. The final decision is yours. Whether you want a comprehensive or liability policy, it is important to know which features to look for in a policy.
Bankrate Score
Bankrate is more than just a price comparison when choosing the best auto insurance company. Bankrate takes into consideration customer service, technology, as well digital resources. Insurers are rapidly evolving in this digital age. They need to adapt quickly and continuously improve their offerings to stay competitive.
Bankrate evaluates third-party ratings to determine how satisfied customers are with insurance companies. Bankrate also evaluates their financial strength, online and mobile accessibility, and other factors. Each carrier's overall score is calculated using five points.
Discounts
If you have more than one car, you can usually take advantage of a discount on your premium. This can save you anywhere from five to ten percent. Most common discount is called the paid-in full discount. This discount rewards you for paying for your premium in full up front. A discount of 5%-10% is possible if your premium is paid in full.
Multi-car discounts may also be 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. Multi-policy purchases are also offered by some major insurers. You may also qualify for a discount if you are a student. Geico, by example, offers a 15% Discount for Students
Complaint data
Data from complaints against auto insurance companies shows they're not all the same. Customer complaints about insurance companies are most prevalent when they have to make a claim. 68% of all complaints revolved around claims. These include low settlement offers, delayed claims processes, or denial of claims. While the promise of prompt reimbursement makes it a compelling reason for purchasing insurance, the experience is often stressful and frustrating.
Consumers can determine a company's quality of service by using data from the NAIC complaint index. 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.