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Auto insurance quotes are readily available online, with many insurers and third-party companies providing quick access to pricing from various insurers. You might be considering switching to a different car insurance provider than your current one, or perhaps you're buying auto insurance for the first time. Either way, it's good to compare car insurance quotes from various companies to find the best price and coverage for your needs.
A smart way to compare auto insurance quotes is to find a quote resource that offers information about only A-rated insurers. If not, you might be taking a risk by signing on with a company that is not yet established in the financial world. Companies that are financially unstable are at risk of going under when the economy hits a slump. This could mean no car insurance for you, and you'll have to go through the comparison process all over again.
How are Insurers rated?
Comparing auto insurance quotes from A-rated companies means simply finding companies that have received a good rating from A.M. Best Company or another rating company. A.M. Best is one of the top rating organizations for car insurance, with ratings ranging from A++ and A+ (superior) to A and A- (excellent) all the way to D (poor). Companies with even an A- are still in the "excellent" category, so these should be considered. Any A rating is good news for an insurer. When you compare car insurance quotes at websites that only offer information from A-rated providers, then you don't have to waste time sifting through low-rated companies. You'll start with the best and end up with the best no matter what your final choice.
Why is an A Rating Important?
Perhaps you want to save money on car insurance and don't feel that rating is all that important. No matter how you cut it, a company with a poor or even average rating is at risk of folding under financial pressure. What if you have a claim and the company doesn't have adequate funds to cover your claim? What if you need help (after paying your premium) with an important issue, and the customer service turns out to be not so great? What if you are misled into thinking certain items are covered under your policy when they actually are not? Consider these situations before you make a decision to avoid hassles later.
A.M. Best ratings are based on two major factors for car insurance providers:
1. Financial strength rating -- insurers ability to meet ongoing policy and contract obligations.
2. Issuer credit rating -- insurer's ability to meet its ongoing senior financial obligations.
Consider Other Sources
A.M. Best ratings are just one factor to consider when comparing auto insurance quotes. Use other resources such as Better Business Bureau and online searches to learn about the company's integrity with customers. A company that has frequent complaints that are never resolved should be immediately scratched off your list. It's not worth the trouble!
Look for providers that have an A rating as well as receive an "A" grade in customer service. To name a few that are often found at the top of the list....Progressive, Infinity, GMAC, Explorer, Western United, Bristol West, 21st Century, and others. Once you've established which companies are the top 10 to 15 providers, compare their rates, types of coverage, deductibles, possible discounts, and availability in your state.
Make a list of what you'd like to have in a car insurance policy at the price that fits your budget. If you can find a reasonable auto insurance quote from a provider that meets all the criteria, then you've found a winning combination!
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