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 Posted: Fri Jan 16, 2009 8:51 am Post subject: choosing my carrier.. |
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Hi, how do I know that I'm applying with one of the better home insurance cos.?
Is their rating of any significance while applying? Thanx, Carla Heusen
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Carla Heusen
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| Posted: Fri Jan 16, 2009 11:50 am Post subject: |
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Hi,
| Quote: | | Is their rating of any significance while applying? |
Definitely!
It is the very factor which helps you to determine the capital strength of your home insurance carrier.
Obviously, you won't like to be rejected of your claim when you'd need it the most.
It would also give you a hint regarding the real potential of your carrier towards meeting your coverage needs during catastrophes.
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roddick
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| Posted: Fri Jan 16, 2009 12:01 pm Post subject: |
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Hi Carla
The first thing that you might do is to check with a few independent research companies. These companies are known to examine the home owners insurance providing companies and give them ratings. Besides this, you may also try to find out about their financial history. If they have a good financial history they will be able to take care if you happen to make a claim sometime.
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sil
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| Posted: Sat Feb 28, 2009 12:01 am Post subject: |
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Carla,
This is a great question. It does not matter how cheap a policy is if the claims service is poor and the company is not financially stable.
The first great source I recommend is ambest.com. A.M. Best is the best-known and most respected rating organization for insurance companies. They review the financials, the operations, and the business and rate the companies on their financial strength and stability. Look for companies that are rated no worse than A or A-, but preferably A+ or A++.
A second good source is jdpower.com. Most people are familiar with J.D. Power's automobile satisfaction ratings. They do similar studies for insurance. You will see a link for Insurance at the top of their home page. From there, you can get a summary of the satisfaction ratings for policy offerings, pricing, billing and payment, contacting the insurer, claims, and overall satisfaction.
I hope this helps!
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ChristyP
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| Posted: Sat Feb 28, 2009 7:52 am Post subject: |
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I think another good source is the friends and family. They would be able to give you some suggestions from their experiences.
The Department of Insurance would help you in finding an insurer licensed to do business in your state.
~Jeremy |
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JeremyHolter
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| Posted: Sat Apr 04, 2009 4:52 pm Post subject: |
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| The important things that you must keep in mind is that you make sure that they meet your needs and their stability. You may want to check latest info from a particular company to know if they are stable. You may also want to contact them and ask some questions you are concern with and make evaluations. |
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dritz
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| Posted: Sun Apr 05, 2009 4:08 pm Post subject: |
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| I agree with Jeremy, there are issues on how the losses are handled by the companies are also important and the real terms are revealed there. But one thing a consideration should always be at the back of mind that there will always have a negative line more emphasized, you should filter it. Another helpful aspect is ,where does the company have invested to earn more money for its future growth can give a fair idea. Of course, major banking giants also do offer health insurances, you may try them. |
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VIJAYRAJ
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| Posted: Mon Apr 06, 2009 1:39 pm Post subject: |
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Well, to make sure you are starting your career with a honest and reputed insurance company, keep note of the various companies in the market and check their sites
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