How do I find out if an auto insurance company is reputable?

Thursday, May 28th, 2009

How do I find out if an auto insurance company is reputable?

Make use of auto insurance ratings

When selecting an auto insurance company, you need to be sure that the company is reputable, financially sound and whether or not it consistently pays out its claims. Low auto insurance premiums mean nothing if the company takes a long time to pay out claims and/or is financially unstable.

There are several places online where you can find auto insurance ratings. Standard & Poor’s and Moody’s Investors Service are two reputable credit rating agencies that rate insurance companies based on their financial strength and ability and history to pay claims.

The highest rating that a company can receive is a triple-A rating. At Moody’s, they designated triple-A as "Aa3." Standard & Poor’s highest rating is "AAA." Try to find an insurer with at least an AA rating.




Comment on this FAQ










Consumers putting their money in different places now

Insurance News

Consumers putting their money in different places now

A recent report from credit giant TransUnion took a look at where people are now putting their money and had some interesting findings. Read more



Insurance Tips

Commerical auto insurance coverage

If you own a business where you use vehicle(s) to conduct your business activities, you may need to have a business auto insurance policy. Read more



you are here ›› homefaqauto insurance
Frequently Asked Questions - Auto Insurance