The brand new York State Department of Insurance (DOI) just released the 2008 Annual Ranking of Automobile Insurance Complaints. The statement was given to assist customers locate the car insurer that best meets the desires of theirs. You are able to utilize this particular report to compare the rank of the insurance company you’re doing business with today, or check another business you might be contemplating.
This report examined data collected from 2006 as well as 2007. It just ranks businesses conducting business in the State of New York. Nevertheless, as New York is a heavily populated state, with each huge rural areas and huge urban centers, the article could be regarded as a great representation of insurance company overall performance nationwide.
How The Ranking Works
The cheap small business insurance are ranked holding a complaint ratio. The ratio is estimated by the number of issues upheld against organizations as a portion of their overall private passenger automobile business.
Insurers with probably the fewest upheld complaints per million dollars of premiums are found at the upper part of the list. The businesses with the largest ratio of complaints are placed at the bottom part.
Additional Information to Think about the rank of an insurance business is vital, though it’s just a single characteristic that customers must weigh when considering working by having an insurance company. Others are:
o Referrals from friends, relatives, co-workers or neighbors about the encounters they’d with their insurance companies o Price of the top quality as opposed to perceived value o Search the web for some other suggestions o Look at your state’s DOI site, which might have useful consumer info about businesses conducting business inside your state.
What The Ranking Does as well as Doesn’t Contain o Private passenger insurance is the one style evaluated. o It only comes with the issues known by people to the DOI. It doesn’t include complaints made right to the insurance companies. o Complaints are “upheld” when the DOI suits a customer that an insurance company made an inappropriate decision. o Information from previous years is in the tables so customers are able to determine if the organization has made better and gotten worse. o All businesses with a minimum of ten dolars million in high quality in 2006 and 2007 are in the rank. Insurers with a bit less than $ten million were included if they’d ten or maybe even more complaints against them.