Car Insurance Ratings

Car Insurance Ratings
Top-10 Auto Insurers

The latest 2010 car insurance ratings are now posted online from JD Powers.  Previously, we posted the Car Insurance Ratings for 2008, here: 2008 Car Insurance Ratings. Not a whole lot of details are given on the JD Powers website about how they come up with these particular car insurance ratings.  The results this year are very similar to their insurance ratings from 2008 and 2009.  Every year, JD Powers rate the best automobile insurers on 5 different criteria:

 

  1. Overall Satisfaction
  2. Contacting the Insurer
  3. Policy Offerings
  4. Billing and Payment
  5. Pricing

Using this same data, Product Review Ratings breaks these ratings down into a Top-10 Car Insurers List: The difference in these Top-10 insurance, is that the overall satisfaction score is averaged in along with the other five criteria to derive an Overall Rating score on a 100 point scale. Using this embellished set of criteria, the outcome changes ever so slightly over the original JD Powers Ratings and should provide a clearer picture of which car insurance companies rate best, overall. Product Review Ratings Auto Insurance Ratings criteria are as follows:

  • Experience: (Customer’s Overall Satisfaction)
  • Options: (Car Insurers Policy Offerings)
  • Pricing: (Car Insurance Policy Price)
  • Billing: (Satisfaction with billing methods and issues)
  • Contact: (Contacting the Insurer)
  • Overall: (Overall Rating based on above scores, 1-100)

Ratings 2011

This Top-10 list should be used as a guide only – a rough place to get started. Look at the top-10 insurers by JD Powers and compare for yourself. The insurance ratings are not all created equal. Unfortunately, JD Powers does not offer a detailed report on how they came up with the insurance ratings in each of these categories. One huge factor that is not taken into account, here, is how combining auto insurance with a homeowners insurance policy can drastically reduce your Auto Insurance cost or vice versa. Some of the cheapest-looking car insurance companies aren’t as cheap as they seem when you factor in a home owners discount. For those of us who own homes, it doesn’t pay to switch to a cheaper auto insurance company if the cost of a home owners policy negates those savings. For the 2nd time in the three year period that I’ve reviewed these car insurance ratings, Amica has come up on top. I was unable to go back and see if the 2009 JD Powers auto Insurance Ratings reported the same. With Amica receiving perfect scores in every category every year, including cost, I would expect to know a few very satisfied Amica Car Insurance Policy owners. This was not the case. Since writing the 2008 article on auto insurance ratings, I’ve recommended Amica a few times to family and friends. Surprisingly, I have yet to find one person who switched after giving Amica a call? Why? Because, Amica was not as cheap as their current auto insurance policy. For a company who ranks best on price year after year, this is kind of surprising isn’t it? In fact, Amica is the only auto insurance company JD Powers ranks a perfect 5 of 5 stars for price. I can only think of a few things that could cause this discrepancy. Obviously, a great deal of other variables come into play: Credit Rating, geographic area, Home-Owners, demographics, driving record and even the type of cars being insured could reflect a different outcome for some people shopping the same insurance company. The lesson here is that what works for some may not be what is best for everyone. Still, if you’re looking for place to get started, these Top-10 car insurers will serve as a great short-list of places to call first.

Top 10: Car Insurance Ratings

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Car Insurance Ratings

Car Insurance Ratings

Shopping for a new Vehicle Insurance Company? Isn’t it great that you can shop for car insurance and get a car insurance quote online? Isn’t it great you can actually find cheap car insurance and car insurance policy information online? Isn’t it great you can even get your car and home insured, and have your entire policy approved and paid for online within minutes? Yet, why isn’t it the overall experience as great as it could be? Simply because there are so many choices, and finding the best car insurance company is about more than just an affordable car insurance policy. How many of us really have the time or desire to fully exhaust all of the possibilities and find more than just a cheap car insurance policy, and know we actually are getting the best car insurance company for our needs? It could take days, weeks – maybe even months to price out all of the different policies from various car insurance companies. Even then, there is more to a decent car insurance company than just price.  If it was only a matter of finding a cheap car insurance policy, we’d be done in minutes. So, what else do we need to know?

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What is a Good Vehicle Insurance Company?

Price is the first thing we all think about when choosing a Car Insurance provider. This is because cost is the easiest, most visible commodity in which we can shop, measure and compare to our current provider. Getting the bargain policy coverage may seem like a good deal until you actually have to use your provider or deal with them for claims, asking questions or making changes to your policy. Wouldn’t it be great if someone did an extensive research study on all of these car insurance providers, so you could know more about them than just their policy price ahead of time? You can. Thanks to an exhaustive 2008 National Auto Insurance Study by J.D Powers, Auto Insurance Provider Ratings are available to everyone, making it easy to find a starting point when choosing your next Car Insurance company. Auto Insurance Providers are rated on five different criteria and rated accordingly. Here is how their performance is broken down:

Auto Insurance Criteria

  • Customer Experience

    How satisfied are you with your provider?
  • Your Policy Options

    What kind of coverage do you have?
  • Your Policy Pricing

    How much does your policy cost?
  • Paying Your Bills

    How easy is it to pay your bills?
  • Contacting Your Provider

    How easy is it to get a hold of your provider?

Making Sense of Car Insurance Ratings

Using the information from the 2008 National Car Insurance Study, Product Review Ratings (PRR), thought it would be worthwhile to rank the Top-10 Car Insurance providers. So, with the same ranking system utilized in our Top-10 Monthly Car Lease Specials, we have broken down the Car Insurance Companies in a similar manner.Keep in mind, that what’s best for some, might not neccessarily be best for everyone. Just like leasing automobiles, Car Insurance can be dependent on personal needs and circumstances. These Top-10 Car Insurance Ratings should serve as a starting point and guideline when you are ready to shop for your next provider.

Top-10 Car Insurance Ratings

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