There are many factors that you should consider when looking for the best auto-insurance companies. Bankrate Score, customer reviews, discounts, and data regarding complaints are some of the things you need to consider. It's up to the individual to choose which one works best for them. 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.
Bankrate Score
When evaluating the best auto insurance companies, Bankrate considers more than just price. Bankrate also considers technology, customer service, 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 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
A discount can be taken off your premium if you have more than one automobile. This can save you anywhere from five to ten percent. The most common discount is the paid-in-full discount. This discount rewards you if your premium is paid in full. If you have a habit of paying your premium up front, you may get a discount between 5% and ten percent.
Multi-car discounts are also available. Insurance policies that cover multiple vehicles can be a cost-saving option. This discount is available from most insurance companies. Progressive, for instance, offers a discount of 12% on multiple car insurance policies. Multi-policy purchases are also offered by some major insurers. Students may be eligible for discounts. Geico, for example, offers a 15% discount to students.
Complaint data
Data from complaints against auto insurance companies shows they're not all the same. When a customer has to file a claims, this is the most common complaint. 68% of all complaints were related to claims. 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. A company's complaint ratio is the amount of complaints it receives for every $1 million in premiums paid or the annual premiums. Less complaints mean better customer service.