Getting a good auto insurance policy has been quite a challenge for a lot of people in the past few years. This has been further complicated by various financial difficulties plaguing the country recently. However, hope still remains for those who want to get better policies.
The best way to have a good insurance coverage without breaking the bank is to check the competition in the market. People would do well if they only explored their choices when it comes to auto insurance. Basically, it can easily be done by obtaining quotes from at least four insurance carriers. This is also easily done with the help of the internet. Several databases have been in place and they can be accessed with just a click of a button.
A lot of companies akin to State Farm and USAA deal directly with consumers. Since they do not consult with independent agents, they are often called “direct writers.” Theoretically speaking, they have capacity to pass on savings from not having a third-party middleman.
Companies that present their products directly like Geico and Progressive Insurance save on marketing schemes, and likewise, they pass on their savings. These companies usually market their products by mail, phone, or even the internet.
Insurance departments of 33 states and the District of Columbia has a service that offers online shopping guides for people who are looking for great auto insurance. In these guides, people can find steals by looking into smaller companies that have lower prices in comparison to more popular rivals.
Remember that no discount is ever justifiable by sloppy service. This is bad when claims processing is taken into consideration. Prospective policyholders should do their research on the company that they choose before signing in. Failure to do so may cost one a lot of time and money in the future.
Consumer Reports has also been periodically publishing service ratings for large insurance providers. Representatives from the company can be asked anything pertaining to auto insurance. In connection to service criteria, policyholders should make sure to ask about the turnaround duration for their chosen company.
Financials should also be a focal point. It will always be a good thing to see the financial ratings of auto insurance providers. Policyholders should ask the company for their financial profile. Alternatively, financial ratings are present in various websites.
Reliable companies have a rating of A or higher from Standard and Poor’s. Stellar financial performance is also expected from AA companies as rated by Moody’s Investor Service. Weiss Ratings release some of the sternest criticisms. They are also the most independent. As their reputation says, they display the weakest companies financially speaking.