Selecting the Right Auto Insurance Company

Before selecting an auto insurance company, conduct a thorough research on the options available. First, decide upon the coverage. Select a company that offers the best service, and optimum coverage at an affordable premium.

Here are five helpful tips to keep in mind when selecting an auto insurance company.

1. Check the Insurer’s Credibility:

Visit the website of your state’s Insurance Department and check for complaints per thousand claims filed. This should give you a good idea of what to expect. If data is unavailable check for the company’s statistics in a neighboring state to get an idea of its reputation.

Ensure that the insurance company is financially strong and will be around when you need it. Avoid dubious companies that may offer you incentives or lower premiums. Consult rating companies for a proper rating of the financial status of auto insurance companies.

Consult local body shops that you know and ask for their reference. They are aware of the insurance companies processing times, payment cycles and their preference for authentic spares or local spares.

2. Premium Rates:

For the desired coverage, compare premiums from at last three reputed companies. Decide on the premium depending on your affordability, chances of accidents, and the frequency of filing claims.

3. Customer Service:

This plays a crucial role in case you meet with an accident and need to file a claim. Check out if the insurance company has a toll-free helpline available around the clock. Test the efficiency of the call center by calling up and examining their response time to your complaint. The service must be timely, prompt, courteous, helpful, and available all over the country.

4. Time Taken for Claim Settlement:

Most companies put up the time taken for claims settlements on their website. Alternately, you can ask this information straightforwardly.

5. Choosing an Agent:

Several insurance companies operate through exclusive agents who only sell their policies. These agents may not suggest the best policy for you as they earn a commission from their employers.

In that case, you can take auto insurance from an independent agent. Tell him your requirements and he will frame the best possible policy for you. Negotiate with him to reduce his fees so that you get the best deal. Preferably, work with an agent recommended by friends for better service.

There are several auto insurance companies offering many insurance schemes. Therefore, take your time and consult friends and family before finalizing the selection.