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. You can choose which one suits you best. Whether you want a comprehensive or liability policy, it is important to know which features to look for in a policy.
Bankrate Score
Bankrate does more than simply evaluate the top auto insurers. Bankrate also considers technology, customer service, and digital resources. Digital age changes are driving rapid innovation in the insurance industry. They must keep up with this rapid change and improve their offerings in order to maintain their competitive edge.
Bankrate ranks insurance companies by looking at third-party ratings and customer satisfaction. They also take into consideration their financial strength, as well as mobile and online accessibility. Each carrier is assigned a score out of 5.
Discounts
A discount can be taken off your premium if you have more than one automobile. This can save you anywhere between 5-10%. The most common discount you will find is the paid in-full. This discount rewards you if your premium is paid in full. A discount of 5%-10% is possible if your premium is paid in full.
Multi-car discounts are another option. It is possible to save money on multiple vehicles by insuring them under one policy. Most insurance companies offer this discount. Progressive, for example offers a 12% discount on multiple auto insurance policies. Multi-policy purchases are also offered by some major insurers. Students may be eligible for discounts. Geico, for instance, offers a 15% discount for students.
Complaint data
Data from complaints against auto insurance companies shows they're not all the same. The most common complaint among insurance customers is when he or she has to make a claim. 68% of all complaints were related to claims. The promise of prompt reimbursement is an attractive reason to purchase insurance. However, it can also be stressful and frustrating.
The NAIC complaints index provides data that consumers can use to evaluate a company’s service quality. 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. Insurers with fewer complaints tend to offer better customer service.