5 Hot Tips To Choose An Automobile Insurance
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Posted by Insurance Advice on November 23rd, 2007 at 08:30am
It is not surprising that there are many people who fall into the luring traps laid out carefully by automobile insurance companies. There are so many automobile insurance companies out there in the market today that it becomes extremely difficult to find the right one. So here are some of the hottest tips that will help you to make an informed decision while shopping for an automobile insurance.
Credit: JohnBurrowPhotography, Flickr
- Body Shop: The first place to look for automobile insurance is not at the agent’s office but at the body shops. Ask them for their recommendations. Since body shop managers are always in a network with insurance adjusters and companies, they will be able to provide you with a better perspective, which will save you time and money. You can get an insight into automobile insurance companies who are good at settling claims from Body shop managers.
- Rating: Ratings are extremely important because the higher they are the more reputed the automobile insurance company will be. You should ideally check the Standard and Poor’s and A.M. Best rating for automobile insurance. For example: 21st Century Insurance Co. from California has a AA+ rating, which stands for very strong. This translates into the fact that this insurance company is among the very best. Both Standard and Poor’s and A.M. Best ratings are a measurement of an automobile insurance company’s ability to pay a claim.You can also check the J.D. Power Ratings, which rates on the basis of claims, coverage options, customer satisfaction, price, etc.
- Auto Insurance Agent: You should always keep the option of working with an automobile insurance agent open. There are two types of insurance agents:1. Captive agents: who represent a single insurance company and
2. Independent agents: who are like brokers and represent multiple insurance companiesUnless you are interested in purchasing from a particular company, it is always advisable to visit an independent automobile insurance agent. Independent agents will be able to present a broader picture and offer some of the most competitive quotes. Some of the independent agents might charge a fee but you can always negotiate with them. You can find independent certified agents with Professional Insurance Agents (PIA) or Independent Insurance Agents of America. - Department of Insurance: You can also visit your states department of insurance website. Every state has its own department of insurance as the automobile insurance laws can vary from one state to another. Some of the state departments publish a copy of consumer complaint ratios on their website. This is a document that will provide you with a list of insurance companies who sell automobile insurance policies in your state.
- World Wide Web: Last but not the least, you can visit the wide world of Internet and do a little groundwork on the types of automobile insurance offered and also get a free online quote from different insurance carriers.
By the end of it all, you will have a list of the best automobile insurance companies to choose from.
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