Thursday, December 3, 2009

Ratings of Insurance Providers

We often hear that we should check the ratings of insurance companies when considering insurance. Mainly this is to assess their financial stability -- several companies are well known for their ratings, such as AM Best. I was asked the other day in a class about ratings for insurance companies on other areas, mainly customer service. A couple sources I know of go beyond just financial stability and get into things like prompt payouts, customer service and general satisfaction.

The first is JD Power, Their website is easy to navigate and has some easy to use ratings for different types of insurance companies.

The other is Epinions, or On this website actual customers write about their experiences with a particular company. It is more random than JD Power, but the insight gives direct comments on companies.

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