Largest Auto Insurance Companies

Largest Auto Insurance Companies

Having auto insurance is made mandatory by state laws. To drive legally you must have auto insurance. There are different types of policies that are covered in auto insurance. Some of them are required by the state law and others are for your personal need. For instance, there is a minimum amount of liability coverage that is required by state law to cover the cost of injuries to the other car driver and passengers and any property damage to their car, if you are at fault in an accident. Some types of coverage like collision and comprehensive coverage may be required by lender in case you have financed your car. If your car is new having the collision and comprehensive coverage will make sure that you can cover the cost of repair or replacement of your car in case of an accident.

Largest Auto Insurance Companies

There are several companies providing auto insurance. However, people tend to believe more on the largest auto insurance companies as they provide the better insurance rates, customer services and coverage.

Some of the largest auto insurance companies in USA are

  • State Farm Group which was established in 1922. It is known for its good driver discount.
  • Progressive insurance group was established in 1937. The company was first to go online and has very highly ranked internet and mobile services.
  • USAA was established in 1922 and is known for its loyalty discounts.

Tips to select the best auto insurance company for you

The performance of smaller auto insurance companies varies from company to company. Here are a few things that you should look for when you are reviewing different car insurance companies.

  • Work out your needs

The first thing that you need to do before selecting an auto insurance company for you is to work out your needs. The state law requires a minimum amount of auto insurance to drive around legally. However, this amount is not enough to protect your assets if a lawsuit is filed against you in case of an accident. Therefore make sure to find your net worth and get auto insurance coverage that matches the amount of your assets.

  • Customer service

One of the most important things to look for when choosing the auto insurance company for you is the quality of their customer service. Make sure to read the reviews of other customers about the customer services provided by auto insurance company. This will give you a fair idea, how the company is making its customers happy. The largest insurance companies have great customer service. Try to find out how the company handles customer’s queries and complains.

  • Financial Strength

You want to select a company with the ability to pay your claims. Therefore checking the financial strength of the company is a priority. You can either check the financial rating of these companies provided by A.M. Best and S&P ratings. When you are selecting from the largest auto insurance companies, this step may not be of considerable importance. However, if you are selecting a smaller agency then do not forget to research about the ability of the company to pay the claim.

  • Low consumer complaint ratio

Choose a company with low consumer complaint ratio. You can easily get this data from the department of insurance of your state. You can go an additional step and check the consumer complaint ratio of the company in other states where the company operates. If the company has overall low consumer complaint ratio then it is right to choose it.

  • Compare

When you have done your homework on different auto insurance companies, now is the time to compare their quotes. It is not about selecting the cheaper insurance rate. There are a lot of things that you need to compare. Always check the final cost including the discounts and premium amount.