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. The final decision is yours. It doesn't really matter if you want a comprehensive insurance policy or one that covers liability. But it is important to know the key features of a policy.
Score at the Bankrate
Bankrate does more than simply evaluate the top auto insurers. It considers customer service, technology, and digital resources. The digital age is accelerating the pace of change for insurers. To maintain their competitive edge, they must adapt to this rapid change and continually improve their offerings.
Bankrate ranks insurance companies by looking at third-party ratings and customer satisfaction. They also consider their financial strength and online and mobile accessibility. The overall score of each carrier is determined using five points.
Discounts
There are usually discounts for multiple cars. This can save you anywhere between 5-10%. Most common discount is called the paid-in full discount. This discount rewards you if your premium is paid in full. A discount of 5%-10% is possible if your premium is paid in full.
Multi-car discounts can also be availed. If you have more than one vehicle, you can also save money by insuring them under the same policy. Many insurers offer this discount. Progressive, for example offers a 12% discount on multiple auto insurance policies. Some other major insurers offer a discount for multi-policy purchases. You may also qualify for a discount if you are a student. Geico, by example, offers a 15% Discount for Students
Complaint data
Auto insurance companies have a variety of complaints. Insurance customers most commonly complain about the process of filing a claim. 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. While the promise of prompt reimbursement makes it a compelling reason for purchasing insurance, the experience is often stressful and frustrating.
The NAIC complaint index gives consumers the ability to assess a company's service quality. The index compares insurers' customer satisfaction to find out how they compare to the nationwide average complaint ratio. These ratios are calculated based on how many complaints a company gets per $1,000,000 in premiums earned, or the annual premiums. Less complaints mean better customer service.