How do you find insurance companies with the best claims ratings?

Question

I want to buy insurance, and get a good deal, but want to make sure they are well-rated for handling their clients claims.

Answer 1

Here you go. Just put in the company name and state where you live and then choose property/casualty for business type. All of the information is there for you to compare.

http://www.naic.org/cis/index.do

You may also want to check with your state insurance commissioner's office for further information on specific insurance company's claims handling history.

Answer 2

Your state Insurance Division has a record of complaints, and whether or not they are valid. Call the Division of Business & Industry, Insurance Division, and ask them for the number of complaints. Be careful, however, because some of the larger insurance companies, however, may have more complaints by number but not by ratio. For example if you write 1million policies in the state, 100 complaints isn't bad. However, if you only write 5000 policies, 100 complaints is horrible. I believe the Insurance Division, however, has a way of sorting out by number of complaints vs premium volume. Give them a call, or you might want to see if your state has the information on the website

Answer 3

You are wise to look into this. Good insurance is better than cheap insurance because when you need it, you really NEED it.

Go to this web site and click on your state http://www.naic.org/state_web_map.htm

That will put you into the web site for the department of insurance for your state. Once there, you can search for the "Complaint Index" for all the companies that do business there. Use the "Index" to level the playing field. It shows a ratio of the number of complaints (for all causes - not just for claims handling) compared to the number of complaints that "should have happened given the size of the company's sales".

Sorry, I do not know of a way to find data that deal just with claims handling.

I have had good experience with Assurant Health. Go to http://www.wavehelp.com/health-insurance/index.htm and click through.

Best wishes.

Answer 4

there is a company/magazine called Best, and the insurance industry uses them as a rating system. its called the BEST rating. Look for that.

Answer 5

Do a yahoo search for your state, and "insurance complaints". It should bring up a site like this . . . http://www.openrecords.org/records/insurance/texas/ where you can search for a company's complaint record.