Insurance Company Reviews
Using Insurance Reviews & Ratings
There are different ways insurance companies get rated and reviewed. There are large financial organizations such as AM Best or S&P that rate the financial stability of an insurance company and there are consumer reviews that provide information about personal experiences with a particular company. Depending on the type of insurance you're looking for (car, home, health or life) will determine how you look and compare ratings and reviews.
There are several insurance ratings agencies that analyze the financial stability of insurance companies. Each has their own specific rating scale and guidelines when looking at companies. A.M. Best Company is one of the most widely used and respected of these companies. Other companies include Standard & Poor's, FitchRatings and Moody's. Typically, they will utilize a letter based rating scale that can help consumers assess the financial strength of an insurance company. When looking at the rating, you need to be aware that the rating for one agency can mean something quite different from one to the other. For example an A+ from AM Best is their top rating while the same rating from S&P has 4 rating scores higher than it. Looking at several ratings for each company you're comparin will give you a good overall idea of their long term financial stability.
While looking at independent ratings agencies can help you determine if a company will be in business when you need them to pay for a claim, consumer insurance reviews can help you determine which agency will offer the right coverage, cheap insurance quotes, superior customer service or the best claims support. When consumers review insurance companies, they offer a personal look into a company that you won't be able to get from a ratings agency. Similar to asking a friend for advice, getting information from a cusotmer review is important when comparing companies.
The type of insurance policy your shopping will typically matter when you're looking at ratings and reviews. Car Insurance reviews or homeowners reviews are helpful because more people buy and use these policies than life or health insurance. A car insurance company that offers you the lowest rate might offer subpar customer claims service or an outstanding homeowners insurance company might not offer insurance in your state for various reasons. When shopping for life insurance, company ratings are important to look at because you may not need to file a claim for 20 or 30 years. Health insurance reviews can help you know if a company provides adequate coverage, how they handle claims and other important factors.
Use our insurance ratings and reviews to compare insurance companies to find the company that provides the best coverage and the cheapest price.