Best Insurance Companies Consumer Reports

When it comes to insurance, people want to know which companies are the best. Consumer Reports recently released a list of the top insurance companies based on customer satisfaction and experiences. In this article, we will explore the top insurance companies based on the Consumer Reports rating.

What is Consumer Reports?

Consumer Reports is an independent, non-profit organization that provides impartial product testing and ratings to consumers. Their mission is to help people make informed purchasing decisions by providing unbiased reviews and ratings. They have been providing ratings on insurance companies for several years and have become a go-to source for consumers looking for the best insurance options.

How do they rate insurance companies?

Consumer Reports rates insurance companies based on a survey of their subscribers. The survey asks customers to rate their experiences with their insurance company in several categories such as:

Top Insurance Companies

Based on the Consumer Reports rating, the following are the top insurance companies:

1. USAA

USAA is a top-rated insurance company, receiving high marks for its customer service and claims handling. However, USAA policies are only available to military members and their family, so not everyone is eligible to enroll in this insurance coverage.

Estimates show that over $1.2 billion was paid out by USAA for claims in 2018, and their auto insurance customers reported high satisfaction with both price and customer service. However, USAA only offers insurance to those who have served or are currently serving in the military, so not everyone can take advantage of their services.

2. Amica Mutual

Amica Mutual is a mutual insurance company based in Rhode Island that has been around for over 100 years. They offer coverage for auto, home, and life insurance policies. Amica Mutual scores high across the board for customer service, claims handling, and price satisfaction.

Not only does Amica hold an A++ (Superior) rating for financial strength from A.M. Best, but it is also rated A+ for customer satisfaction. The company is known for its customer-focused business model and an easy and streamlined claims process.

3. New Jersey Manufacturers

New Jersey Manufacturers provides auto, home, and workers’ compensation insurance to individuals and businesses in New Jersey. The company has a strong reputation for its exceptional customer service and satisfaction ratings.

New Jersey Manufacturers is consistently rated high for policy offerings, claims handling, and price satisfaction. Their claims process is relatively simple, and the company is known for its quick response times.

4. Auto-Owners Insurance

Auto-Owners Insurance is a mutual insurance company that offers auto, home, and life insurance policies. The company has been around for over 100 years and has a reputation for its excellent customer service ratings.

Auto-Owners Insurance is known for its personalized approach to insurance and has been ranked good for policy offerings, price satisfaction, and claims handling. The company is also known for its financial stability and quick claims payout. In 2018, they paid out nearly $3 billion in claims.

5. State Farm

State Farm is one of the largest insurance companies in the United States and provides coverage for auto, home, renters, and life insurance policies. They have a reputation for excellent customer service and have a large network of agents throughout the country.

State Farm scores well across the board when it comes to policy offerings, claims handling, and price satisfaction. They also have a user-friendly online platform that makes it easy to manage your policy, file a claim, and get a quote.

FAQ

What is the best insurance company?

According to Consumer Reports, the best insurance companies are USAA, Amica Mutual, New Jersey Manufacturers, Auto-Owners Insurance, and State Farm. However, the best insurance company for you depends on your individual needs and preferences.

How do I find the best insurance company?

Researching and comparing insurance companies is the best way to find the right one for you. Look at their coverage options, customer reviews, financial strength, and claim satisfaction ratings. You can also work with an independent insurance agent who can help you find the best policy and price point for your needs.

What should I look for in an insurance company?

When looking for an insurance company, you should consider their coverage options, customer service ratings, financial strength, claims satisfaction, and price competitiveness. Also, look for a company that offers discounts or bundling options and has an easy claims process.

What if I’m not satisfied with my insurance company?

If you’re not satisfied with your insurance company, you can consider switching to a different provider. However, before you make any changes, make sure you research your options and compare policies and prices. Also, make sure you have a clear understanding of your current policy and any costs or fees associated with switching to a new provider.

How often should I review my insurance policy?

It’s a good idea to review your insurance policy at least once a year or when major life changes occur, such as getting married, having a baby, or buying a new home or car. This will ensure that your coverage is up to date and that you’re getting the best possible price for your insurance policy.

Conclusion

Choosing the right insurance company can be a daunting task. However, by researching and comparing providers based on their customer satisfaction and experiences, you can find the best policy and price point for your needs. Consumer Reports ratings provide a helpful guide, but it’s essential to consider your individual needs and preferences when selecting an insurance company.