When shopping for insurance you have many options – but when it is time to purchase, clients often ask me about online reviews. I can’t say the comments are not accurate, but you should ask yourself how often do you go on social media to compliment a company? Be honest, you usually save your reviews for negative experiences.
When I look at company reviews, I see a pattern. The person is usually complaining about billing or claims. As an agent, I can be sure that 99% of billing issues are with the insured, not the company.
People expect their insurance companies to be lenient when it comes to paying. After 2 late payments, most companies do not waive fees or offer reinstatement. As agents, we try to help, but ultimately it is the carrier’s decision.
Regarding claims, I think in 10 years of insurance only 1 person ever said they were at fault! People frequently forego collision coverage and regret it once there is an accident. They ask for “cheapest” coverage and realize they have little coverage to protect them with claims. Most carriers are fair and reasonable when it comes to claims. Of course, there are hiccups – often it is a bad claims rep rather than a blanket experience with a carrier.
Who should you trust?
Your agent. We deal with the carriers every day. I would not write a policy for you if it wasn’t a company I would use for my own insurance. When you have an agent, they are your advocate and your service representative.
The most important rating you can use to select an insurance company is AM Best. You should make sure your company is financially strong. A good rating means that the company is solvent to pay your claims and back your insurance. Pick a company A or better – most are rated A-.
Lastly, use a Trusted Choice Independent agent like Pennsylvania Insurance Network. We have the freedom to choose the right carrier for you. Remember just because your neighbor has one company doesn’t mean it’s the best for you.
How to choose insurance company?
- Agent – someone you can rely and understand your insurance needs
- Coverages – understand what you are buying
- Carrier – AM Best Rating
- Discounts and price matter, reducing coverage is not always the best solution.