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Insurance Company Complaints – Who Are the Top 10 Companies With the Least Number of Complaints?

The New York State Department of Insurance (DOI) just released the 2008 Annual Ranking of Automobile Insurance Complaints. The report has been issued to help consumers find the automobile insurer that best meets their needs. You can use this report to compare the ranking of the insurance company you are doing business with now, or check another company you may be considering.

This report analyzed data collected from 2006 and 2007. It only ranks companies doing business in the State of New York. However, as New York is a heavily populated state, with both big urban centers and big suburban areas, the report can be considered a good representation of insurance company performance nationwide.

How The Ranking Works

The insurance companies are ranked on a complaint ratio. The ratio is calculated by the number of complaints upheld against companies as a percentage of their total private passenger auto business.

Insurers with the fewest upheld complaints per million dollars of premiums are shown at the top of the list. The companies with the highest ratio of complaints are ranked at the bottom.

Other Information to Consider

The ranking of an insurance company is important, but it is only one characteristic that consumers should weigh when considering doing business with an insurance company. Others are:

o Referrals from friends, relatives, neighbors or co-workers about the experiences they had with their insurance companies
o Price of the premium versus perceived value
o Search the Internet for other ideas
o Check your state’s DOI website, which may contain valuable consumer information about companies doing business in your state.

What The Ranking Does and Does Not Contain

o Private passenger insurance is the only type evaluated.
o It only includes the complaints referred by consumers to the DOI. It does not include complaints made directly to the insurance companies.
o Complaints are “upheld” when the DOI agrees with a consumer that an insurance company made an inappropriate decision.
o Information from prior years is included in the tables so consumers can see if the company has improved or gotten worse.
o All companies with at least $10 million in premium in 2006 and 2007 are included in the ranking. Insurers with less than $10 million were included if they had 10 or more complaints against them.

Top Three Most Common Complaints

1. Monetary settlements – settlement amount is too low.
2. Policy terminations
3. Promptness of insurance payments

2007 Auto Complaint Listing (ranked lowest number at top, higher as you go down)

1. Mercury General Group
2. American Express, Amex Assurance, IDS Property Casualty
3. Eveready Insurance Co.
4. Electric Insurance Group
5. Amica Mutual
6. Preferred Mutual Insurance Co.
7. United Services Automobile Assurance Group (USAA)
8. Chubb
9. Utica Mutual
10. State F*arm
11. Central Services Group, Central Insurance Group, NY Central Mutual Fire Ins.
12. Main Street America Group, National Grange Mutual
13. Progressive
14. Liberty Mutual
15. Kingsway Insurance Group, Lincoln General Ins.
16. Response Insurance Group
17. Nationwide Insurance
18. American Modern Ins. Group, American Family Home Ins.
19. St. Paul Travelers
20. Unitrin Group, Kemper
21. Erie Insurance Group
22. Berkshire Hathaway Insurance, GEICO
23. Allstate Insurance
24. The Hartford Insurance Group
25. Hanover Insurance, Citizens Ins., Allmerica Financial Alliance
26. Metropolitan Group
27. American National Financial Group
28. Allianz Insurance Group
29. GMAC, Integon, MIC P&C, National General Ins. Co.
30. Zurich Ins.Group, Foremost, Maryland Casualty
31. Hannover RE Group, Clarendon National
32. State Wide Insurance
33. White Mountains Group, OneBeacon, Esurance, Auto One Ins.
34. Countrywide Insurance
35. Safeco Insurance Group
36. American International Group (AIG)
37. Tri-State Consumer Ins. Group
38. Interboro Mutual
39. Infinity Property & Casualty
40. Long Island Insurance

Conclusion

If your auto insurance provider is not shown on this list, it could be that they don’t sell insurance in New York. Or, it could be that their number of complaints is worse than the company in the #40 position!!

Think about this statement, my friends.

The only thing that truly matters about your auto insurance is what happens when you submit a claim. Claims are about KEEPING PROMISES. When the insurance companies don’t keep their promises, the complaints pile up!

So, why would you EVER consider doing business with any insurance company LOWER than NUMBER 10 on the list?

If you are one of the unfortunate people who experience an automobile loss of any kind, you’ll need to know how to handle your insurance claim so that you maximize your recovery. I’ll even be so bold as to say this: If you do not use the strategies for submitting a claim found in my book, you will not collect all the money you are entitled to collect. You will need to know how to take control of your insurance claim, and add hundreds or even thousands more dollars to your claim settlement. For more information, check out the website shown below in the Resource Box.

Auto Insurance Company – Free Online Car Insurance Company

Today it is very easy to find an auto insurance company free online car insurance quote. In fact, just about every company today offers these quotes online, in order to help you to find out whether not their the right company for you. So what is the best company for you? If it was this easy to determine this, everybody would go the same company.

The truth is, the best car insurance company will vary from person to person, depending on their personal situation. For instance, some companies might offer discounts for good driving records, even good grades, etc. It all depends on you and your situation. One company might be cheaper for your neighbor and may actually be more expensive for you.

So what are some for things to look for an auto insurance company? First of all, this is an obvious one, but it still is one of the central points: the price. The price of a policy will go a long ways to determining which is the right company for you is.

Of course, price certainly isn’t the only factor. Customer service is extremely important as well.

Quite simply, the insurance company industry, for better or worse, has developed the reputation of poor customer service. Many people report nightmare experience of having to wait hours before they get to talk with a representative.

Therefore, always make sure that the customer service is good before going with a particular company. Quite simply, some companies don’t have nearly the amount of current experience the other companies do. Therefore, it is imperative to look at the experience factor when deciding the right insurance company for you.

So how do you find out this information? Again, as with just about any information you want to find out in today’s world, the Internet has an abundance of info; by simply doing a quick Google search you will find literally millions of results to help you find out the right auto insurance company for you. Hopefully is important information help you quickly and easily find the right car insurance company for you with your individual situation.

Auto Insurance Company FAQs

What is auto insurance? Most states require the owner of a vehicle to have a certain minimum coverage. But to protect oneself from law suits and expensive repair bills, it makes sense for the customer to go for more than the minimum coverage.

What is liability insurance?

Liability insurance is the coverage that the insurance policy gives the consumer, if he/she has caused an accident that has resulted in bodily injury to another party and/or damage to the property of another person. Bodily injury coverage pays for the medical expenses and the likely loss of wages, whilst property coverage pays for the cost of repair or even replacement for the vehicle of the victim.

What is a 20/40/10?

These are the liability coverage limits. Instead of presenting in terms of thousands of dollars, limits are presented in a series of numbers. 20/40/10 stands for $ 20,000/40,000/10,000, where $20,000 is the coverage for the bodily injury per person, $40,000 is the coverage for the bodily injury per vehicle. $10,000 is the property damage coverage per accident.

Is the minimum liability coverage limit the same, wherever one lives in the US?

It is different in all the fifty states. In Texas, for example one has to purchase at least 20/40/15 liability coverage limits. In California, it is 15/30/5. In New York it is 25/50/15.

It makes sense for the owner to know the local coverage limit and have a coverage which is more than the limit.

How important is the driver?s history in getting a good offer from an insurance company?

Owners with good driving habits are generally rewarded with discounts by the auto insurance companies. These may include people with airbags and centralized locks in their vehicles, people with no tickets history or driving offences etc.

What is an SR-22?

SR-22 is a form that proves that one carries auto insurance. SR-22 status is given for people falling in category of high risk. All the states require SR-22 for people who have had a past history of serious driving violations like drunken driving and reckless driving.

What is no fault insurance?

Several legislations in the US provide coverage like the ?no fault insurance,? where the victim should only prove his/her injury to claim damages from the insurers.

How does one know which auto insurance to choose?

Owners of the vehicles would be advised to choose companies with good credit worthiness. These companies are rated as A, AA, and beyond. The above points can be the best guidelines for any auto owner in choosing the right auto insurance company.