Which auto insurers do customers love?
Maynard, now senior assistant vice president, points to Amica's commitment to treat customers well to explain why the company consistently wins top ranking for keeping customers happy. This year Amica won the highest customer satisfaction score among auto insurance companies for the 12th consecutive year, according to the 2011 U.S. National Auto Insurance Study by J.D. Power and Associates , a Westlake Village, Calif.-based market information services company.
The study measures customer satisfaction across five factors: interaction with the insurer, price , policy offerings, billing and payment, and claims. Customer satisfaction with auto insurance improved overall this year with an average index score of 790 on a 1,000-point scale -- up 13 points from 2010 when satisfaction dipped by 10 points from 2009. ( How does your vehicle compare on insurance rates? )
Amica scored 843, followed by Erie Insurance with 825 and Shelter Insurance with 816. New Jersey Manufacturers Insurance Co. and USAA also scored high, but they were not included in the ranking because of their closed memberships.
Erie Insurance also came in at No. 2 last year. "Customers have told us that they choose Erie because of our great coverage and superior service at a fair price," says spokeswoman Megan Euston, adding that the company's 90% customer retention rate bears that out.
Shelter Insurance rose from No. 4 to No. 3 this year. Executive vice president Rick Means says his company conducts numerous customer surveys and makes changes based on the feedback. One thing the company learned is that customers want the ability to file claims quickly. Recently Shelter introduced its Fast Track service, which handles straightforward auto insurance claims -- where there are no complicated liability issues or serious injuries -- in just one phone call.
Maynard says Amica doesn't have a precise formula for customer interactions, but instead teaches employees to let customers set the agenda. Sometimes good service boils down to simple things, he adds. If someone is in a hurry, for instance, then customer service representatives deliver information quickly; if someone is confused, then they slow down and check in at each step to make sure a caller understands.
Auto Insurance Company Ratings - News
Three companies you may not have heard of topped JD Power's ratings of car insurance companies. By partner on Fri, Jul 1, 2011 1:51 PM This post comes from Barbara Marquand of partner site Insure.com. Bruce Maynard got his first impression of
EPA estimated fuel economy ratings of 43 mpg city and 40 mpg on the highway for a combined 42 mpg utilizing regular 87-octane gasoline. The IIHS is an independent non-profit research and communications organization funded by auto insurance companies.
Here's why: MetLif is the leading provider in the US of individual and group life insurance, retirement savings products, dental, disability and group auto & home insurance. The company possesses the strongest long-term growth potential of any US life
DriveAbility provides analytical support for insurers that translates to an individual score for each vehicle to both inform auto policy rating and encourage safer driving habits. For insurers, UBI offers a new way for companies to differentiate their
AM Best has assigned a financial strength rating of A (Excellent) and issuer credit ratings of "a+" to Aviva Insurance Company of Canada and its affiliates. Aviva's affiliates include Elite Insurance Company, Traders General Insurance Company,
Where can I find auto insurance company ratings?
Most auto insurance companies are rated by a number of agencies including A.M. Best, Moody’s and Standard & Poor’s on their financial performance. These auto insurance ratings can often be found by visiting the website of an auto insurance company or googling a search such as “2011 GEICO car insurance ratings”. Always include the current year in your search to find the most relevant information.
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Financial ratings certainly play a role in the ability of any auto insurance company to pay claims but remember what happened on Wall Street? Choosing a company solely based on its financial ratings is never a good thing to do. You have to look at a combination of things including customer service reviews, number of complaints and even intangible factors such as hours of operation, account management tools and more. There are many auto insurance companies who all have comparable ratings but drivers need to choose an insurer based on much more than just an A, A+ or A++ rating. Plus who can really tell the difference between all the A’s available in auto insurance ratings anyway.
How should you research an auto insurance company?
There are many ways to start researching auto insurance companies and your auto insurance comparison search should incorporate many of these methods to find a suitable insurer for you needs.
Ask Friends and Relatives
Sometimes a personal recommendation is the highest form of rating you need however when looking for an auto insurance company from friends and relatives it can be a little tricky. First of all you need to ask people who have the same needs as you. A friend with a 1971 clunker or a relative with a DUI charge may just have the best auto insurance company for their situation but this is probably not the same as yours.
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You also want to ask people you know if they ever filed a claim with a company. This is the trump card in a personal recommendation. Almost anyone you know writes a check for auto insurance and has probably called the customer service center at one time or another but what you need to know is how an auto insurance company performed when it was time to a pay a claim. Any insurer can accept a check and make you feel like a happy customer but the test is when they have to pay.
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Ratings | J.D. Power
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What Auto Insurance Company Ratings Mean Exactly - carsdirect.com
In order to accurately assess the financial strength of an auto insurer, consumers have the right to view auto insurance company ratings.
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Checking auto insurance company ratings has become easier with the advent of the Internet.