When it comes to securing coverage to protect you, your loved ones, and property, the search can be overwhelming. Partnering with an insurance company that will meet your customized needs is a top priority. But what features should you look for? Here are several key ones to consider.
1. Complaint Record
The best firms have a proven track record of being ethical, fair, and transparent. One good starting point is your state’s department of insurance. This agency maintains a database of customer complaints and provides industry regulations. You can typically locate an insurance company’s complaint record on the department’s website. While it’s not uncommon for customers to submit grievances about service and other issues, look for the amount and the type. Seek out companies with the fewest complaints.
2. Industry Ratings
Insurance companies are rated based on their financial strength. Other rating factors include claims processing, payment records, and operational structure. There are several industry rating firms that issue grades, with A++ or AAA as the highest rating. Some of the leading rating firms include A.M. Best, Fitch, Moody’s, and Standard and Poor’s. You can consult with them to find out an insurance company’s rating. Look for those with consistently high marks.
3. Longevity
Some of the nation’s largest insurance companies have been around for centuries. Over time, they’ve built a brand people are familiar with. With longevity comes experience, and the ability to meet their customers’ unique coverage needs. On the flip side, there are smaller companies that may not have been around for as long, but still take pride in their service. As you conduct your research, examine each firm on its merits and decide whether longevity is a top priority to you.
Searching for the right insurance company to meet your unique needs doesn’t have to be a daunting task. With a bit of homework, you will find one that delivers. Allegiance Insurance Services, Inc. in Burr Ridge, IL, is your trusted partner to meet your insurance needs. As an independent agency, the locally-owned firm will compare rates and policy terms from more than 40 insurance providers. The team of professional agents works for you. To get started, call (630) 325-5600 for free, no-obligation price quotes. You can also request a quote online, where you’ll also find more information on coverage options.