The 2008 Annual Ranking of Automobile Insurance Complaints has been released by the New York State Department of Insurance. This report was created to assist consumers in finding the best automobile insurance company that meets their needs. This report can be used to compare the rankings of insurance companies you currently do business with, and also to check the rankings of other companies you might be interested in.
This report analyzes data from 2006 to 2007. This report only ranks New York-based companies. The report is not representative of the performance of all insurance companies nationwide, however, New York being a densely populated state with large urban centers and large suburban areas can make it difficult to ignore.
How the Ranking Works
A complaint ratio is used to rank insurance companies. This ratio is calculated as a percentage from the total private passenger car business and includes all complaints.
The top ten list includes those insurers with the lowest number of complaints per million dollars in premiums. The bottom is ranked for companies with the highest number of complaints.
Additional Information
While the ranking of an insurance provider is important, it is not the only thing that should be considered when a consumer is considering doing business with an insurer. Other characteristics include:
Referrals from family, friends, neighbors, or coworkers about their experiences with their insurance companies. Price of the premium versus perceived worth
You can search the Internet to find more ideas
You can find valuable information on companies that do business in your state at the DOI website.
What the Ranking Does and Doesn’t Contain
Only private passenger insurance is being evaluated.
It does not include complaints that consumers refer to the DOI. It does not include complaints that were made directly to insurance companies.
When the DOI agrees to a consumer’s complaint that an insurance company made an inexcusable decision, it is “upheld”.
The tables include information from previous years so that consumers can see how the company has changed or improved.
The ranking includes all companies that had at least $10,000,000 in premiums in 2006 and 2007. If they had 10 complaints or more, insurers with less than $10million were included.
Top 3 Most Common Complaints
1. Monetary Settlements – Settlement amount is too low
2. Termination of a policy
3. Promptness in insurance payments
2007 Auto Complaint List (ranked lowest at the top, higher as you descend)
1. Mercury General Group
2. American Express, Amex Assurance and IDS Property Casualty
3. Eveready Insurance Co.
4. Electric Insurance Group
5. Amica Mutual
6. Preferred Mutual Insurance Co.
7. United Services Automobile Assurance Group, USAA
8. Chubb
9. Utica Mutual
10. F*arm State
11. Central Services Group, Central Insurance Group, NY Central Mutual Fire Ins.
12. Main Street America Group, National Grange Mutual
13. Progressive
14. Liberty Mutual
15. Kingsway Insurance Group, Lincoln General Ins.
16. Response Insurance Group
17. Nationwide Insurance
18. American Modern Ins. American Family Home Ins.
19. St. Paul Travelers
20. Unitrin Group, Kemper
21. Erie Insurance Group
22. Berkshire Hathaway Insurance, GEICO
23. Allstate Insurance
24. Hartford Insurance Group
25. Hanover Insurance, Citizens Ins., Allmerica Financial Alliance
26. Metropolitan Group
27. American National Financial Group
28. Allianz Insurance Group
29. GMAC, Integon. MIC P&C. National General Ins. Co.
30. Zurich Ins.Group Foremost, Maryland Casualty
31. Hannover RE Group, Clarendon National
32. State Wide Insurance
33. White Mountains Group, OneBeacon. Esurance. Auto One Ins.
34. Countrywide Insurance
35. Safeco Insurance Group
36. American International Group (AIG).
37. Tri-State Consumer Ins. Group
38. Interboro Mutual
39. Infinity Property & Casualty
40. Long Island Insurance
Conclusion
It could be that your auto insurance provider isn’t selling insurance in New York. It could also be that they have more complaints than the company at #40. !
My friends, think about this statement.
Only what happens after you file a claim is the most important thing about your auto insurance. Claims are all about KEEPING PROMISES. The complaints start to pile up when insurance companies fail to keep their promises.
Why would you ever consider doing business with an insurance company that is LOWER than NUMBER TEN on the list?
You will need to learn how to manage your insurance claim if you have suffered an automobile accident. I will even go so far as to say If your claim is not submitted using the strategies in my book, you won’t be able to collect the full amount you are entitled. Learn how to manage your insurance claim and increase your settlement by hundreds of dollars or even thousands. You can find more information at the Resource Box.