There are many things to consider when selecting the best auto insurance company. Bankrate score, Customer reviews and complaints data are all important factors. You can choose which one suits you best. It doesn't matter if you are looking for a comprehensive policy or a liability policy. However, it is crucial to understand what features to look out for in a policy.
Bankrate Score
Bankrate is more than just a price comparison when choosing the best auto insurance company. It considers 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 grades insurance companies based on third-party ratings as well as customer satisfaction scores. They also assess their financial strength as well as online and mobile accessibility. Each carrier is assigned a score out of 5.
Get Discounts
You may be eligible for a discount on your premium if more than one car is registered. This can help you save anywhere from 5 to 10%. The most popular discount is the paid–in-full. This discount rewards the premium payer for paying in full. You may be eligible for a discount up to 10% on your premium if you are accustomed to paying in full.
Multi-car discounts may also be available. If you have more than one vehicle, you can also save money by insuring them under the same policy. This discount is offered by most insurers. Progressive, for example, offers a 12% discount when you purchase multiple policies of car insurance. Many major insurers offer discounts for multi-policy purchase. A student may be eligible for a discount. Geico, as an example, offers a 15% student discount.
Complaint data
Data from complaints against auto insurance companies shows they're not all the same. Customers most frequently complain about having to file a claim. 68% of all complaints revolved around claims. These include low settlement offers, delayed claims processes, or denial of claims. Although the promise of prompt reimbursement is a compelling reason to purchase insurance, the experience can be stressful and frustrating.
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.