The Millstone Times March 2019

AUTOMOTIVE

How to compare car insurance companies By Lauren Kowlacki

Remember, price is just one piece of the car insurance policy puzzle. You also want to make sure you feel good about the insurer you’re doing business with. Do they have a good track record when it comes to paying out claims? Are they known for their customer service? Are they financially solvent? Fortunately, it’s pretty easy to get answers to these questions. In fact, sometimes, some important signifiers will be included with your auto insurance quote. The big stats to check when vetting an insurance company include:

A.M. Best Ratings: The independent agency rates insurers financial soundness on a grading scale from A++ (superior) to F (under regulatory supervision). You can also see how an insurer is rated by Fitch Ratings, Moody’s and Standard and Poor’s, if you want to make sure the insurer really isn’t at risk of going under. Better Business Bureau (BBB) Ratings: Consider this a good gauge of customer service. You can see customer review ratings for each company and also read any complaints policyholders filed against them. It’s also helpful to do a quick Google search for online reviews or to see if there have been any major complaints against an insurer in recent years. And, if the insurer has a designated customer service line, go ahead and give the number a call (or two). That’ll give you some insights into response times.

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The Millstone Times

March 2019