The Top Auto Insurance Companies You Should Look For

If you are considering shopping for cheap auto insurance, you may be looking for a company that charges affordable rates. However, other factors like timeliness with response to claims, flexible coverage options, friendly customer service and a host of other factors also may play a role in your decision-making process.

After all, auto insurance is purchased for more than just paying premiums to a company. It is purchased to provide you with financial protection when you do need to file a claim. It may have crossed your mind to skip rate shopping altogether and simply look for a list of top auto insurance companies to get quotes from. Try our FREE quote comparison tool for FREE simply by entering your ZIP!

Who’s at the Top of the List?

Drivers who have already started searching for a list of top auto insurance companies may have discovered an issue with their shopping strategy. Numerous agencies, organizations and media sources have published their own list of top auto insurance companies in recent years, and their results differ.

One list may feature an entirely different list of the top three or five insurers than another list features. While the lists may differ with regards to who is at the top, the same companies do appear repeatedly in most lists. These include:

• State Farm
• Geico
• Allstate
• Progressive
• Esurance
• Allstate
• USAA
• Nationwide
• Liberty Mutual
• Farmers
• AAA

Why There is a Discrepancy

So why can’t these various organizations, associations and media sources come to a final, uniform conclusion about which auto insurance company is the best one to work with? For one thing, each one may be reviewing different criteria in their analysis. Some common criteria may include:

• average rates of policy holders
• time to finalize a claim
• flexible policy options
• variation in discounts offered
• ability to retain policy holders year after year
• customer service rating

Some lists are compiled based on a complete analysis of each of these points while other compiled lists may analyze other points altogether.

In addition, some lists you find online may be issued by an organization that is affiliated with a certain insurance company, so the results may be skewed or biased toward a specific company.

Why the Top Company May Not Be the Best Option for You

Whether you look at a list that has AAA, State Farm or another company at the top of the list, the fact is that any given “top” company may not be the best option for you. One of the key reasons this may be true is that auto insurance rates will vary considerably between insurers.

Some auto insurance companies design their rates to be more attractive to drivers with a safe driving history and who are between the ages of 26 and 55. Others, however, may offer more attractive rates for high risk drivers, such as those who are under age 25, who drive vintage cars or other niche drivers.

Sometimes the top auto insurance company may be your best option, but this isn’t true for every driver.

Steps to Find the Best Company For Your Needs

If getting a rate quote from the top auto insurance company isn’t the best option, you may be wondering what you can do to find a great auto insurance company to buy insurance from. By following these steps, you may find affordable coverage from a reputable insurance company:

• Review your existing coverage and ensure it meets your needs. If it does not, consider how removing optional coverages or increasing coverage limits may be advantageous to you.
• Determine how high of a deductible you can afford. A higher deductible will reduce your premium, but you should ensure that the deductible amount you choose is affordable for you to pay when you file a claim.
• Compare rate estimates online. Rate estimates are easily obtained through a comparison website, and they can help you to determine which auto insurers you should contact for a full quote.
• Request a full quote from an auto insurance company’s website. You may choose to request several full quotes from different insurers to compare against each other.
• Review discounts offered by the company to determine if you qualify for additional savings.
• Review consumer satisfaction ratings about a company before you decide to buy a new insurance policy. Consider factors such as their responsiveness in handling claims, how friendly their customer service is, if customers are loyal to them for numerous years and more.

Before You Switch Policies

If you follow all of these steps and have found savings with another insurance company that appears to be reputable and dependable, you may be ready to cancel your current auto insurance policy today. However, before you do anything hasty, consider one final point. Many companies offer auto insurance discounts or other financial incentive for customer loyalty.

These customer loyalty may be in the form of a deductible that reduces each year you renew your policy, with a special discount on your premium that you qualify for simply by renewing and more. You should consider if additional savings will be available to you through your current insurer, and then compare that savings against the best rate quote you found.

In certain cases, such as if you have received poor service from your current insurer, loyalty incentives may mean little to you. However, if you are switching companies to save money, these incentives may be important in your decision-making process. Enter your ZIP into our FREE quote comparison tool to start saving today!

Final Thoughts

It can be interesting to research a list of top auto insurance companies. You may find your current insurance company included in some lists, or you may use these lists to determine which auto insurance companies to shop for new rate quotes from.

As you can see, however, these lists can vary significantly depending on who is compiling the list. Therefore, you should consider shopping for a new insurance company on your own and using these lists only for moderate guidance when shopping.