When choosing the best auto insurers, there are many factors to take into consideration. These factors include Customer reviews, Bankrate Score, Discounts, complaint data, and Customer reviews. You can choose which one suits you best. It does not matter whether you need a comprehensive or liability insurance policy. You just need to know what features to look for.
Bankrate Score
When evaluating the best auto insurance companies, Bankrate considers more than just price. It also takes into account customer service, technology and digital resources. The digital age has seen rapid change in the industry. To remain competitive, they must adapt to rapid changes and constantly improve their offerings.
Bankrate rates insurance companies by analysing third-party ratings, customer satisfaction scores, and other factors. They also take into consideration their financial strength, as well as mobile and online accessibility. Each carrier is assigned a score out of 5.
Get Discounts
A discount can be taken off your premium if you have more than one automobile. This can save you up to ten per cent. The most popular discount is the paid–in-full. This discount rewards the premium payer for paying in full. A discount of 5%-10% is possible if your premium is paid in full.
Multi-car discounts are another option. Insuring multiple vehicles under the same policy can help you save money. Most insurance companies offer this discount. Progressive, for example, offers a 12% discount when you purchase multiple policies of car insurance. Many major insurers offer discounts for multi-policy purchase. If you're a student, you may be eligible to receive a discount. 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. When a customer has to file a claims, this is the most common complaint. 68% of all complaints revolved around claims. These include low settlement offers, delayed claims processes, or denial of claims. Although insurance promises of quick reimbursement are compelling reasons to buy it, the experience can be frustrating and stressful.
The NAIC complaints index provides data that consumers can use to evaluate a company’s service quality. The index is a way to compare insurers on customer satisfaction by comparing their complaint ratio to the average nationwide 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. Insurers with fewer complaints tend to offer better customer service.