When choosing the best auto insurers, there are many factors to take into consideration. Bankrate Score and customer reviews are just a few of the factors you should consider. You can choose which one suits you best. 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
Bankrate is more than just a price comparison when choosing the best auto insurance company. Bankrate also considers technology, customer service, and digital resources. The digital age is accelerating the pace of change for insurers. They must keep up with this rapid change and improve their offerings in order to maintain their competitive edge.
Bankrate evaluates third-party ratings to determine how satisfied customers are with insurance companies. They also consider their financial strength and online and mobile accessibility. Each carrier is given a rating out of five points.
Discounts
There are usually discounts for multiple cars. This can help you save anywhere from 5 to 10%. Most common discount is called the paid-in full discount. 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 also available. You can save money if you insure more than one vehicle under one policy. This discount is offered by most insurers. Progressive, for example offers a 12% discount on multiple auto insurance policies. Some major insurers offer multi-policy discount. Student members may also be eligible for a discount Geico, for example, offers a 15% discount to students.
Complaint data
Complaint data of auto insurance companies shows that they aren't all created equal. 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. Although the promise of prompt reimbursement is a compelling reason to purchase insurance, the experience can be stressful and frustrating.
The NAIC complaint indicator gives consumers a way to gauge a company’s quality of service. The index allows consumers to compare insurers regarding customer satisfaction by comparing the complaints ratios to the average nationwide complaint rate. A company's complaint ratio is the amount of complaints it receives for every $1 million in premiums paid or the annual premiums. Customers who receive fewer complaints are more likely to be satisfied with their service.