Auto Insurance Quote Review

Have you thought about asking for a free auto insurance quote on the internet? Are you concerned because you may not know anything about the company providing the quote? Are you wondering how you can find out about the reputation of the company giving you a quote, especially when it comes to paying out claims?

This article will tell you how to find out about insurance companies: their financial stability and how many consumer complaints they receive, how to ask for a quote so you can compare apples to apples, and results of online quotes from eight known auto insurance companies.

How to find out the stability of an insurance company

The financial stability of a company is rated by A.M. Best and Standard & Poor's. These companies provide an independent opinion of an insurance companies ability to meet its ongoing policy and contract obligations. The A.M. Best rating is expressed as a letter grade from A++ (the highest) to D. It is recommended that you do not work with companies rating B or lower. The Standard & Poor's Ratings range from triple A (the highest) to CC. It is recommended that you do not work with companies rating lower than BBB.

How to find out individual policy holder satisfaction with an insurance company

Annually J.D. Power and Associates gathers data from policy holders nationwide regarding policy options, pricing, automated phone service and overall satisfaction, with the insurance company providing their insurance. The best rating is 5.

How to Find Out the Number of Consumer Complaints

The Department of Insurance for each state provides the general public with consumer complaint ratios. This ratio helps the consumer to identify the number of complaints per number of claims filed. A maximum of forty companies are compared. If more than forty insurance companies have complaints, only the forty companies with the most complaints will be compared. It is recommended that the complaint ratio be checked in three or more states to identify specific insurance company trends. A ratio of less than one hundred is better than average.

How to ask for a quote so you can compare apples to apples

A response to the following information must be decided before asking for an auto insurance quote:

  • Car make, model, year, current mileage
  • Deductible amount for collision, comprehension and liability
  • Coverage for medical
  • Purpose for using the car
  • Miles driven per year
  • Number of designated drivers
  • Drivers ages

What is the result of performing the above steps?

The Auto Insurance companies used for this Auto Insurance Quote Review are 21st Century, Allstate, Esurance, Geico, Nationwide, Safeco, The Hartford. These companies were selected based on longevity in the business and their familiarity to consumers throughout the United States. The stability, consumer overall satisfaction (Sat.), policy options (Opt.), price (of premium) and automated phone service rated as follows.

J.D. Power and Associates

Insurance Co. AMBest S&P Sat. Opt. Price Phone

21st Century A A 3 3 4 2
Allstate A+ AA- 3 3 3 3
Esurance A- n/a n/a n/a n/a n/a
Geico A++ 3As 3 4 4 3
Nationwide A+ A+ 3 3 2 3
Safeco A A- 3 2 2 3
The Hartford A AA- 3 3 4 3

The number of consumer complaints for these auto insurance companies rated as follows in the states of Illinois, Minnesota, Missouri, Texas and Kentucky.

The Complaint Ratio for Five States

Insurance Co. IL MN MO TX KY

21st Century n/a n/a n/a 199 n/a
Allstate 55 130 130 165 19
Esurance n/a 212 212 455 0
Geico 33 149 128 132 116
Nationwide n/a 76 76 131 0
Safeco 29 117 117 71 25
The Hartford 29 n/a 454 200 54

The Auto Insurance Quote Sample

The following information was used for all quotes:

  • 2006 Toyota Camry 4dr v6 engine LE
  • 50,000 miles
  • Driven under 9000 miles per year
  • Used for pleasure
  • $100 Deductible for comprehensive and collision
  • $250,000/$500,000 Liability & collision
  • $10,000 medical
  • One car and two drivers

Auto Insurance Quotes

The following six month policy quotes were received from each of the companies listed below:

Company Quote

21st Century $237.68
AllState $392.00
Esurance $343.00
Geico $260.10
Nationwide $415.40
Safeco $281.00
The Hartford $375.00

Ways To Lower The Premium

Most insurance companies will offer discounts for the following events:

  • Save driving record for 3 - 5 years
  • No minor infractions for 3 years
  • Anti lock devices installed in your vehicle
  • No DUI for the last 3 - 5 years
  • License not suspended for the past 3 years
  • Good credit rating
  • Car owned rather than leased or financed
  • A second vehicle is also insured
  • Other types of insurance is also purchased from them

High risk drivers can expect to have a higher premium. Not all insurance companies will insure them. In addition when a high risk driver has an accident, the insured can expect difficulty when attempting to get the vehicle repaired using car manufactured parts. Generally auto insurance companies will pay only for the cheapest parts available.

Some insurance companies offer a lower premium for the first year as an enticement to encourage you to get your auto insurance coverage through them. So always ask about the second year premium price.

Commercial Auto Insurance For Business

Each year, different types of businesses are created across the country. And nearly 99% of business owners use auto transport for their business needs. Such cars need special insurance coverage as commercial autos, since your individual auto insurance does not provide coverage through commercial use of your vehicle (car, truck or trailer).

When an automobile is used for business activity, it needs particular insurance policy, called commercial auto insurance for business. If you haul a commercial trailer with a private auto, you might also be required to get commercial business policy. If you tow something that does not belong to your business, you might call for hired or non-owned auto coverage. These conditions are different in every state so consult your state's insurance department for a comprehensive list of principles.

Commercial auto insurance policies mainly include similar fixed coverages and offer similar possible coverage as the general auto insurance policy. The main and most common fixed and optional commercial auto insurance coverages, which might be included in your business auto insurance police, are:

Accident profits coverage - is offered by most insurance companies. It generally provides reimbursement for medical and therapy treatments, funeral costs, loss of earnings because of disability and death.

Intermediary Liability coverage - offers coverage, if while driving your business auto, the driver is held officially for injuring someone else, or damaging another's property. If your driver is arrested for more than the coverage, than your company might be responsible for it.

Uninsured, Underinsured and Unidentified Motorist coverage - this is widespread type of coverage. Though the name may differ in different states and in different companies, the main principles are the same. This coverage provides compensation if the driver of your commercial auto is wounded or killed because of the fault of an uninsured or underinsured driver, or by an unidentified auto.

Direct Reimbursement - Property Damage - this coverage provides reimbursement for damage to your automobile and any possdssions in it, if your commercial auto's driver is not guilty in an accident.

Family Protection coverage - it offers coverage for the auto's driver from the actions of a guilty, uninsured or underinsured person driving the vehicle. If possible, family protection guarantees coverage up to your commercial car insurance policy's limits apart from the other person's coverage points.

Cheap Auto Insurance in Wisconsin

Each state provides its own laws on auto insurance. Wisconsin has its own general provisions as required by their own law. However, in general, auto insurance can be defined as a contract of agreement entered into by and between an insurance company and an insured, may be an individual or a group. The contract is anchored on the insured paying a certain premium in exchange of the insurance company's promise to afford certain liability coverage as entered into in the policy contract.

As provided by the Office of the Commissioner of Insurance (OCI) in the State of Wisconsin, auto insurance in Wisconsin becomes mandatory after June 1, 2010, with several exceptions in limited situations which requires other security in the form of a surety bond, personal funds or certificate of self-insurance. Being mandatory, the law requires that auto insurance policy must provide minimum liability coverage of $50,000 for injury or death of a person; $100,000 for injury or death of two or more persons; and $15,000 for damage of property. The law further requires bodily injury coverage of $100,000/$300,000 as minimum limit for uninsured and underinsured motorist. However, anyone can purchase as many coverage as he wants. Wisconsin provides minimum limit and allows additional premiums in higher limits.

To understand how auto insurance in Wisconsin works, let us discuss each coverage briefly:

-Bodily injury liability covers your liability to anybody you injured when you meet an accident. This type of coverage shoulders all your liabilities against other people's claims for medical expenses, lost wages, damages and other losses. Of course, it protects you up to the stated amount in your insurance policy.

-Property damage liability coverage shoulders any damaged property of other people up to the amount stated in your auto insurance policy. The damages may include broken glass, crushed fender, damaged wall or broken fence, as a result of any car accident caused by you or anyone driving your car with your consent. Coverage also includes payments to any damaged government property due to same cause.

-Uninsured motorist coverage covers for your own bodily injury or of anyone injured who is in your vehicle when hit by an uninsured motorist or a hit-and-run reckless driver. This also covers you or any member of your family who is injured as a pedestrian hit or struck by same uninsured motorist. In the same way, underinsured coverage pays for your injury when the adverse insurance does not cover your bodily injury losses.

-Physical damage coverage includes the collision coverage, which pays for the physical damage of your vehicle; and comprehensive coverage, which pays for the damages to your vehicle due to fire, hail, water, falling objects, and the like.

Now, you have a glimpse of the basic information about the different coverage of auto insurance in Wisconsin. Applicable policies for claims and renewals are likewise provided for insurance company to follow. However, the rates of auto insurance vary. Almost all auto insurance company has its own special discount packages to offer to attract customers. If you wish to avail cheap auto insurance in Wisconsin, you simply take note of the minimum limit required by law and consider the package offerings of the insurance company.

An Overview on Auto Insurance

Insurance is directly related to risk management. Risk is defined as an event which is likely to occur and it can harm the reputation of the company. Proper and efficient management of the unforeseen risk is known as risk management. As times passed by risk in day to day life, business and few more to name kept growing and hence to tackle with this problem a word called insurance was coined. Insurance is generally used as a backup for a contingent loss.

Companies providing insurance generally transfer a whole or part of the risk on to itself against a small premium. An insurer is generally a person or an entity that provides the insurance and insured is a person who is being buying the insurance and is likely to enjoy its fruits in the future.

Insurance is indispensable in day to day life. We need insurance in every walk of life. Any automobile on the road needs insurance, same way any auto in transit from one place to another also needs insurance. As indicated earlier insurance covers a certain amount of risk by regularly paying a premium. The same is in this case generally automobiles on road are more prone to scratches, breakdowns, accidents. Hence corporate specializing in this line of insurance services cover up all these risks.

Auto insurances not only cover you from accidents but also from loss of vehicle, property damage and medical coverage. Why should we insure our vehicle while transit. The answer goes this way, while our automobile is in transit there might be wear and tear, scratches, dents and worse. It is better to have an insurance done rather than paying heavy amounts in bills later. Generally auto insurance is provided by the transportation company itself.

Before a person could select a company for shipping he should have cleared various points such as. He should check whether the company has an insurance certificate. Customer should also see the back records of the firm. He should be familiar with terms and conditions of the agreement. He should also enquire on the parts of the car which are to be insured. Do make a list of all the damages that were already present in the car so that later that can be cross checked. That when a part or parts of the cars are damaged while transits will the company covers the entire part of the damage or only a certain percentage.

There are also certain tips for the company providing insurance they are. A shipping company must examine the automobile as a whole so that it can give it a clean certificate as to its working conditions, or if it detects certain problems it is its obliged duty to inform the client so that there is no confusion in the future. A company should also check whether the car is pre insured, if not stress on the client to get it insured before it is sent for shipping.

It is a common duty of the client and the shipping company to remove all the personal items from the car as insurance is only for the car and not the items present in the car. Those objects can spoil the interiors of the car while transit. If you have incurred various damages and the company refuses to fairly cooperate you can post a complaint at the local bureaus of your country.

Who Are Auto Insurance Specialists?

Auto insurance specialists are people who cater to the insurance needs of car owner's. The easiest way to find a suitable auto insurance specialist is to do a search online. Still you will need to go through pages and pages of information before finding a suitable company. This is certainly worth the effort in the long run as getting your insurance online can turn out to be cheaper as they are able to offer you a better deal because the operational costs involved are low. Most online insurance businesses give you the option to choose from a few different companies. You are able to see what each company can offer you and for what price so that you know that you are making a good decision. The amount you thus save can be utilized to increase your liability coverage in the event of an accident.

To get the best deal you will have to furnish the insurance specialist with as many details as possible about the car and yourself. This way they can give you the coverage tailored to your requirements and ensure that you are not paying for unnecessary coverage which is most probably not going to be used by you. The best way to lower the cost of insurance is to increase the deductibles while getting as many discounts as possible that work in your favor. Lower premiums are possible if the driver is a female and if the car has low mileage, safety devices and a low profile. The driver having a defensive driver certificate and a clean driving record will also help to reduce the premium.

Everything You Need to Know About Auto Insurance

Every auto owner must have auto insurance in order to drive their vehicle legally. You can get into serious trouble with the law if you do not have insurance in place and if someone hits you - or if you hit them - and auto insurance is not held by you or the other person, legal issues are not the only thing you will have to worry about. You will have to worry about how the vehicles will be fixed if they can be fixed and how doctors bills are going to be paid if someone is seriously injured.

If you get into an accident, the first thing you should do is make sure your auto insurance was in force at the time of the accident. Most insurance agencies have a 24 hour hotline for just the reason. If another person was involved, you will need to make sure their insurance is in force as well. The next step is to immediately contact the authorities so that they can help control the situation and charge whoever was at fault for the accident. This helps auto insurance agencies determine who is liable for any repairs or doctors bill. Having auto insurance is extremely important.

When you purchase a vehicle from an auto trader, a private person, or at an auction, you will need to contact your insurance agent immediately to let them know that you have purchased a new vehicle. Sometimes the auto trader will carry insurance on the vehicle they sold you for 24 to 48 hours in order to protect you until you can get your insurance in place. When you purchase a vehicle from an auto trader, always ask them about temporary insurance they may have in place. Additionally, always inquire about coverage for a new car with your agent before you purchase it. You may find that your coverage will be in force temporarily through your agent until you can sign or pay on a new insurance agreement.

If you get into an auto accident and your vehicle is considered a total loss, the vehicle may be used for auto parts if there are areas of the vehicle that are not damaged. Many auto salvage yards receive vehicles from accidents where auto parts can be salvaged and then resold for a reduced price to people who need them to fix up their own cars. Reliable auto salvage yards are a great source of auto parts that can save you some money if you are able to work on your own vehicle or know someone who can do the work for you.

Being able to prove that an accident is not your fault is key to making sure that you do not see increased auto insurance rates or are left out in the cold when they refuse to pay your claim. This is one of the reasons why a police report and unbiased witness accounts are important in an auto accident. If no report is filed with the police, then the cost of the accident will be split between you and the other party. This is not fair to you if you are not at fault, so always protect yourself and your investment. Never accept blame for an accident. Make the report in an unbiased way and let your insurance company determine the blame based on your information and the reports they receive. After all, this is what you pay them to do.