The top insurers in the industry have earned their place for a number of reasons; these companies usually consist of a combination of good customer service, quality products, competitive pricing and are financially sound. These providers are ranked amongst the highest for reasons such as financial strength and low complaint ratios. Unfortunately, many consumers purchase policies without taking many of these factors into consideration and end up buying coverage based on price alone; being covered with a reputable company comes with many benefits.
The top 10 insurance companies are financially stable; this means that they have the ability to meet ongoing obligations to policyholders. Purchasing a policy from an insurer who may not be in good financial standing can result in policyholders being delayed in obtaining compensation following a claim; these providers may be facing insolvency and unable to pay claims in which they are obligated to. Consumers can easily check the financial standing of an insurer by contacting one of the many rating agencies which evaluate carriers and assign a rating which may help consumers avoid buying coverage from a carrier who is struggling financially.
A company’s customer service is also a very important factor to consider when in the market for a new policy and finding an insurer who takes care of customer’s needs can be vital. The customer service and claims department are the representatives that consumers must interact with for issues pertaining to policies; it should not become a hassle to get help with a policy or process a claim. The Texas Department of Insurance suggests that individuals check into a company’s complaint ratio to get an indication of a company’s customer service.
Source: http://www.insurance.tx.gov/pubs/consumer/cb020.html
Individuals can visit http://www.onlineautoinsurance.com/learn/what-are-top-10-companies.htm for more information regarding the top companies in the industry and helpful tips which may assist consumers locate affordable coverage from a reputable and financially sound carrier.
