List of Car Insurance Companies
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The Best Car Insurance Companies
Selecting a car insurance company is a big financial decision that every person who drives needs to make. If you get insured with a quality carrier that has you fully covered, you can have peace of mind knowing you are protected if you get into an accident. This is why it’s so important to get insured with the best car insurance companies.
You want to be 100% sure that if you file a claim, it will be processed as soon as possible, and the funds will be dispersed right away. You never want to be in the position where a car insurance provider refuses to pay a valid claim, leaving you in a dire situation financially. Or, the company goes out of business when you are owed money after a claim has been filed. If you pick the wrong insurer, these types of things can and do happen.
The reality is not every consumer finds the best auto insurance plan or the best insurer. Often, people buy coverage without spending any time researching the company they are doing business with.
Many people only look for the cheapest rates or whatever company grabs their attention first. Then, some go with the same provider their parents or friends use and don’t do any research bout the company. Then, they later found out that they could have received better coverage with a much better provider for a lower rate. So, everyone needs to spend time doing thorough research before they buy a policy.
Consumer Reports – Best Car Insurance Companies Survey
What exactly determines the best car insurance companies? While there isn’t an exact answer to this question, several characteristics make up a good insurer. Consumer Report survey was sent to 28,241 car insurance policyholders. The survey ranked 22 auto insurance companies by two key metrics:
- How fast they paid out claims
- What, if any, problems occurred during the claim process
They then scored the ratings from 1 to 100. The test results were somewhat surprising. They provided critical insights into several smaller insurers, who ranked higher than many popular, national companies. All of the 22 insurers surveyed ranked in the top 20%.
One interesting discovery that came to light in the survey was many top-rated carriers received low scores for claim payouts. Some of the insurers that have bad claim payout ratings may come as a surprise. Up to 25% of every respondent described problems getting their claim paid on time and in full. In several instances, these clients ended up waiting more than two weeks to receive their claim payment. So, you need to do some basic research and find what insurers have good claim payout records.
The First Place Winner
The Consumer Reports customer survey was given to current car insurance policyholders who previously filed a claim between January of 2015 and July of 2017. During these 18 months of the test, about 86% of respondents said they were “very satisfied” with how the company handled their claim. That’s a high number that demonstrates excellent claim handling.
The car insurance providers that scored the highest on the survey were three smaller insurers: New Jersey Manufacturers Insurance, Auto-Owners Insurance Group, and Arbella Insurance. These insurance companies offer both low rates and fast claim payouts in the event you get into a wreck.
Some of the insurance companies profiled are regional, and others offer coverage only in specific states. It’s important when comparing rates that you get quotes from both regional and national insurance providers. You should also note that some carriers have more stringent qualification rules, and not everyone will be covered, including high-risk motorists.
What to Look Out For When Deciding on an Insurance Provider
Consumer Reports issued a comprehensive report, both good and bad, which detailed the survey’s findings. A summary of the study included the following advice. Saving on auto insurance is not just about finding the cheapest rate. Any company can charge a lower upfront premium, then cost you money in the long run.
This is often done by lowering loss estimates, encouraging repair facilities to “cut corners,” and requiring you to pay out of pocket for authentic vehicle manufacturers’ replacement parts. If you don’t pay for these more expensive parts, then they will use cheaper generic parts. This can result in your car not performing up to its full capability or breaking down faster.
One of the main “tricks” insurers use is to increase rates after an accident substantially. It is often done even if it was a small fender bender, like slowly backing into a vehicle in a parking lot. Overall, premiums should be considered, but you should carefully research claim handling and premium increases after an accident.
What Makes a Good Auto Insurer one of the Best Car Insurance Companies?
Doing business with some car insurance providers can be a never-ending hassle. For example, you are involved in a serious accident and need immediate assistance, only to find out your insurer is just not there for you. They can delay processing a claim, not pay for all the repairs that need to be done, and unfairly raise your premiums to the point you can’t afford coverage. Besides, you might get a rude customer service representative that doesn’t care about helping you at all.
Let’s face it, auto insurance is a necessary cost for most people, and it’s also expensive. You deserve an insurer that takes care of your needs properly. Finding the right provider takes some time and effort, but it’s worth it once you find the right one. When doing your research on the best car insurance companies, look for these components:
- Excellent Customer Satisfaction Ratings
- Low-Cost Coverage
- Fast and Fair Claim Processing
- Good Customer Service
- Multiple Types of Coverage
- Strong Financial Ratings
Get Car Insurance Quotes From the Best Sources
The internet is the perfect place to compare dozens of car insurance quotes in only a few short minutes. However, not all companies provide a comprehensive list of quotes from every company. This is why Goodtogoinsurance.org is different. Here you can compare dozens of quotes on your laptop or smartphone. All you need to do is enter your zip code to get started. You will receive price quotations from the top 10 list of car insurance companies listed below, as well as regional insurers that often have some of the cheapest rates.
The Top 10 List of Car Insurance Companies
These top 10 auto insurers were selected for several key reasons. They each share several common traits. They all have low-cost coverage, excellent customer service, and excellent customer satisfaction ratings. This list may differ slightly from other significant findings, but the main factors taken into consideration are nearly identical.
1 – Geico
Geico is now the second-largest auto insurer in the U.S. It has gained popularity through its popular Gecko mascot and funny commercials. More important, Geico has some of the best rates for teens and those with less than perfect driving records. You can get a free quote in about 15 minutes, and many drivers save 15% or more. Geico has customer service that is second to none, with knowledgeable and helpful reps and agents. Geico is also one of the strongest financially rated companies, backed by powerhouse parent company Berkshire Hathaway. Before you decide on any company, make sure you get a quote from Geico.
2 – Progressive
Progressive is the right choice for those that know what kind of coverage they need, want direct rates and instant coverage. Progressive has some of the best rates for good drivers. This large insurer also offers very cheap auto insurance with no deposit in select states. You can qualify for $20 down payments car insurance online. Progressive insurance also has a price comparison tool that shows the rates of their competitors. If you are serious about shopping for the cheapest car insurance, then get a Progressive quote.
3 – Allstate
With Allstate, as the company motto states, “you’re in good hands.” This is almost always true. Allstate has excellent customer service ratings, in addition to fast claim processing. Allstate also offers unique programs like “accident forgiveness” that won’t raise your auto insurance rates after most accidents. While they are not always the cheapest, their excellent customer service and strong financial rating make up for it.
4 – State Farm
State Farm is the largest auto insurer and undoubtedly one of the best car insurance companies in the U.S. The company has thousands of dedicated agents across the country that offer hands-on, customer-driven service. State Farm also has many discounts, including great rates for those that bundle both auto and home insurance together. State Farm has low rates for safe drivers and seniors. Their claim processing is also fast and professional.
5 – Esurance
As the commercial says, Esurance was born on the internet. You can get quotes and buy coverage online in only a few minutes. Because Esurance has cost advantages by doing business strictly online, it passes those savings onto its customers. Esurance has some of the cheapest car insurance rates anywhere. The company is now owned and backed by Allstate Car Insurance.
6 – American Family Auto Insurance
You might have never seen an American Family Insurance commercial before, which is one reason their rates are so low. This company has excellent cheap rates and top-notch customer service. AMFAM insurance is currently only available in 19 states. If you live in one of them, then get a quote and see for yourself how cheap they are.
7 – AETNA
AETNA is a lost-cost insurer that focuses on their customers, not expensive commercials like many of their competitors. AETNA has grown over the years through word-of-mouth referrals. They have very cheap auto insurance no deposit backed with quality service. Customers love AETNA and must renew their policy year after year. (Read More about AETNA here).
8 – Liberty Mutual
Liberty Mutual is a company that has been around for decades. It prides itself on fair rates and exceptional customer service. Liberty Mutual also has a popular accident forgiveness program that can save you a lot if you ever get into a small wreck. The company has experienced and helpful agents and customer service representatives that are available 24/7.
9 – AAA
If you need cheap insurance coverage, roadside assistance, in addition to travel recommendations, then check out AAA insurance. Their automobile insurance is highly rated and backed by a company that has been in business for more than 100 years. They also have great low rates for senior drivers.
10 – Farmers
Farmers Insurance has excellent moderately-priced insurance. Farmers, as the commercial states, “has seen it all.” Farmers can get you just about any type of personal and commercial auto insurance coverage you need at good prices. They also have several popular discounts, like bundling, that you can take advantage of to save more.
Additional Things To Consider when selecting the Best Car Insurance Companies
Remember, the cheapest auto insurance is not the only thing you should look at. It will help if you compare both rates and a companies ratings. This includes claim handling and customer service. Dig a little deeper and find out how much insurers increase rates on average after an accident and read several customer reviews, both good and bad.
Many people have special car insurance needs that require a dedicated agent as State Farm and Farmers Insurance provide. Other people might only need a simple policy, without any advice, and can get that with companies like Esurance.
This is our list of the top 10 auto insurance companies from our own research. There are also other insurers, like 21st Century Insurance, not on the list that also offers excellent low-cost coverage and service. You can get started comparing direct car insurance prices by entering your zip code. The tool will match you with up to 10 insurers in less than 5 minutes. Get started and get the coverage you need at the rates you deserve.