When choosing the best auto insurers, there are many factors to take into consideration. Bankrate score, Customer reviews and complaints data are all important factors. You can choose which one suits you best. It doesn't matter if you are looking for a comprehensive policy or a liability policy. However, it is crucial to understand what features to look out for in a policy.
Bankrate Score
Bankrate looks at more than price when evaluating top auto insurance companies. It also takes into account customer service, technology and digital resources. Insurers are constantly evolving in this digital age. They need to adapt quickly and continuously improve their offerings to stay competitive.
Bankrate scores insurance companies by analyzing third-party ratings and customer satisfaction scores. They also consider their financial strength and online and mobile accessibility. The overall score of each carrier is determined using five points.
Take Discounts
You may be eligible for a discount on your premium if more than one car is registered. This can save you anywhere from five to ten percent. The most popular discount is the paid–in-full. This discount rewards you for paying for your premium in full up front. You can often receive a discount of up to 10% if you pay your premium in full upfront.
Multi-car discounts may also be available. It is possible to save money on multiple vehicles by insuring them under one policy. Many insurers offer this discount. Progressive, for example, offers a 12% discount when you purchase multiple policies of car insurance. Some other major insurers offer a discount for multi-policy purchases. Students may be eligible for discounts. Geico, for example, offers a 15% discount to students.
Complaint data
According to data collected from customers of auto insurance companies, they are not all equal. 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. The promise of prompt reimbursement is an attractive reason to purchase insurance. However, it can also be stressful and frustrating.
The NAIC complaint data index allows consumers to determine the quality of a company's services. The index can be used to compare insurance companies on customer satisfaction, comparing their complaint rate to the national average. These ratios are calculated based on how many complaints a company gets per $1,000,000 in premiums earned, or the annual premiums. A company that has received fewer complaints is more likely to provide better customer service.