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How do I check an insurer’s financial strength, claims service record and customer satisfaction rankings?
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How do I check an insurer’s financial strength, claims service record and customer satisfaction...
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asked
Feb 5, 2021
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Insurance
by
SakshiSharma
How do I check an insurer’s financial strength, claims service record and customer satisfaction rankings?
#customer-satisfaction
policy
auto-insurance
insurance-policy
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votes
answered
Feb 5, 2021
by
SakshiSharma
You can check the insurer’s financial stability—its ability to cover the very large number of claims that would likely result from a major disaster—at one of the independent rating agencies. A.M. Best (www.ambest.com) and Standard & Poor’s (www.standardandpoors.com) are two such agencies.
You can check complaint statistics (often related to claims servicing) through your state’s insurance department (www.naic.org/state_web_map.htm). There are a few places you can find customer satisfaction rankings. J.D. Power and Associates (
http://ratings.jdpower.com/insurance/index.htm
) and Consumer Reports (www.consumerreports.org/cro/car-insurance.htm) are two sources. You might have to pay a fee to access these.
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