When choosing the best auto insurers, there are many factors to take into consideration. Bankrate score, Customer reviews and complaints data are all important factors. It is ultimately up to you which policy is right for you. 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.
Score at the Bankrate
Bankrate is more than just a price comparison when choosing the best auto insurance company. It considers customer service, technology, and digital resources. Insurers are rapidly evolving in this digital age. They must keep up with this rapid change and improve their offerings in order to maintain their competitive edge.
Bankrate grades insurance companies based on third-party ratings as well as customer satisfaction scores. Bankrate also takes into account their financial strength and accessibility online and via mobile. Each carrier is given a rating out of five points.
Discounts
You can often get a discount on your insurance premium if you own more than one vehicle. This can save you anywhere from five to ten percent. The most common discount is the paid-in-full discount. This discount rewards the premium payer for paying in full. If you're in the habit of paying up front, you can usually receive a discount of 5% to ten percent on your premium.
Other discounts include multi-car discounts. If you have more than one vehicle, you can also save money by insuring them under the same policy. Most insurers offer this discount. Progressive, for example, offers a 12% discount when you purchase multiple policies of car insurance. Other major insurers also offer multi-policy discounts. If you're a student, you may be eligible to receive a discount. Geico, for instance, offers a 15% discount for students.
Complaint data
Auto insurance companies have a variety of complaints. Insurance customers most commonly complain about the process of filing a claim. 68% of all complaints revolved around claims. These include low settlement offers, delayed claims processes, or denial of claims. While the promise of prompt reimbursement makes it a compelling reason for purchasing insurance, the experience is often stressful and frustrating.
The NAIC complaint indicator gives consumers a way to gauge a company’s quality of service. The index can be used to compare insurance companies on customer satisfaction, comparing their complaint rate to the national average. These ratios are calculated based on how many complaints a company gets per $1,000,000 in premiums earned, or the annual premiums. A company that has received fewer complaints is more likely to provide better customer service.