Deciding which auto insurance company you’re going to purchase insurance from is almost as much of an investment as the auto you’re insuring: without getting insurance from a good, reputable company, you’re putting not only your auto at risk for not being properly taken care of if something should happen, but you’re also putting yourself at risk as auto insurance covers things such as medical expenses if you or anyone else is injured as a result of an accident, paying for another person’s property if you do damage to it, towing and labor costs, and sometimes even coverages such as being reimbursed for wages you’ve lost as result of an accident. Failing to obtain auto insurance from a reputable company could end up resulting in a claim being denied, errors that cost you greatly, and ultimately, your own personal assets and financial well being at risk.
When you need to purchase auto insurance, you’re expecting to have peace of mind if an accident should occur, regardless of whether the accident is your fault or not, and you should also have peace of mind from worrying about things like theft, damage from animals, vandalism, or other damage that occurs. Finding out that your auto insurance carrier isn’t trustworthy isn’t something you want to find out when it’s too late and after the fact, so doing some research on the company you’re purchasing insurance through is definitely worth the little bit of extra time it takes. Finding out what the insurance company’s reputation is (here is a short overview of the different way to measure this), as well as finding out what their consumer rating is and also their AM Best rating is of extreme importance. Every insurance company has an AM Best rating: which is basically the financial report card of the insurance company, which tells you how financially sound the company is you’re buying from. This is as important as the consumer rating: you wouldn’t want to purchase insurance from a company who is going to go bankrupt and who can’t pay your claim.
The internet has become an extremely valuable tool when shopping for auto insurance; not only can you receive quotes quickly, but you can also do some research and find out what other consumers think of the company and what the company’s financial standing is. There’s no way an insurance company can filter everything out there on the internet, so there’s no hiding from other consumer’s opinions and any complaints, reviews, and their rating being published in several outlets, meaning it’s easier for companies more than ever to find out about a company.
Some of the top auto insurance companies
- State Farm: State Farm is a very well know insurance company that has been doing business for years. Currently, State Farm is the number one insurance company in North America, and they’re known for providing fantastic claims service and also making sure that customers are well taken care of.
- Allstate: Allstate’s slogan says it all: “You’re in good hands.” It’s hard to find many customers out there who don’t love their insurance carrier, and part of this is due to the fact that AllState has been pretty innovative; they’re said to be the first company that offered accident forgiveness to their customers, and they’re continuously looking for new ways to improve their insurance.
- Nationwide: Nationwide is all about the customer experience and giving the customer a “Wow” customer experience. They’re huge on customer education, so if you receive just a quote from Nationwide, you’ll probably walk away knowing more about insurance than you ever did. They offer most of the most loved benefits and features that other insurance companies often offer singularly, such as accident forgiveness, roadside assistance, and the diminishing deductible.
- Geico: Geico has become more than a company with a cute mascot: they’ve become a solid insurance company that is known for their great customer service and the large number of people they now call customers is a testament that they’re doing something right.
- Amica: Amica isn’t a company you’re likely to see flashy advertisements from, but they are a company that has built up a large customer base from word of mouth alone. Their biggest claim to fame is their hassle-free claims service.
- Esurance: This company is one that has made a name for themselves from cute advertisements, but they’re more than a company with futuristic cartoon chicks: they offer 24/7 customer support and customer service is their claim to fame. This combined with their lower rates also makes them a top insurance company.
- Liberty Mutual: Liberty Mutual is an older, well established company that was one of the pioneering companies in auto insurance. They maintain competitive prices, have personable agents, and their claim to fame is short hold times and friendly service.
- Progressive: Progressive may have started out as an alternative for high risk drivers and young drivers, but they’re now a company that services a wide customer base and offers a variety of products along with auto insurance, including private auto insurance and business auto insurance. With innovative rate calculation methods such as a “Pay as You Drive” feature, drivers are enjoying the features Progressive is offering.
- AAA: Although Triple A used to be known only for their outstanding roadside assistance, they’re now not only a top company for that, but a top company for insurance too. They’re creating a good reputation for themselves, especially when it comes to claim service.
- American Family Auto Insurance: American Family isn’t one of the largest companies out there, but they do maintain a very steady financial reputation, high customer reviews, and are known for their quick claims processing. Although they’re only operating in 19 states, they’re creating a name for themselves on a global level and will probably be widening their operating base at the rate they’re going.
There are literally so many auto insurance companies out there that it can be impossible to get a quote from every single one, but if you’re looking for auto insurance quotes, these are some of the best companies to start with, and they also share the fact that they all have high AM Best ratings as well, on top of great consumer feedback as well.
Although you may find some rates that are cheaper through other companies, always make sure you’re comparing apples to apples and that you’re getting exactly what you want for coverage, and also take the time to review the company you’re paying to protect you: a few minutes of research could save you a lifetime of financial misfortune.