How to Rate Assurance & Insurance Companies
- 1). Go to the website for A.M. Best and Standard and Poor's. These companies measure the financial strength of insurance companies and publish their ratings. A.M. Best ratings range from a high of A++ to a low of a D, while Standard and Poor's ratings range from AAA to C. You should only select a company that rates at least a B+ from A.M. Best or a BBB from Standad and Poor's.
- 2). Check the J.D. Power and Associates website. J.D. Power and Associates uses date collected from policyholders to rate insurance companies. Their ratings provide an overview of customers' overall experience with a company, including the company's coverage options, prices, claims handling and customer service representatives.
- 3). Check your state's Department of Insurance website. This website lists the number of complaints that have been lodged against a company.
- 4). Check the insurance company's own website. Checking an insurance company's website can give you clues as to how that company treats its customers. For example, do they offer 24-hour claim service and a variety of payment plan options?
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