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Who Really Are The Best Insurance Companies?

Ever sit around wondering who the best insurance companies really are after watching one insurance commercial after another

? Ever wonder what insurance companies people should stay away from after watching the news? Well, wonder no more.

Thanks to the diligent work of some reputable organizations that analyze and rate insurance companies, they have put together the answers to the questions you are wondering about.

Worst Insurance Companies For Claims Service

Let's go ahead and get the bad out of the way so that we can move onto the good. The heart of an insurance company is its claims service. Without the possibility of having to file a claim in the future to get damages repaired, there would be no need to have insurance.

The companies that made the bottom of the JD Power's 2010 Claims Satisfaction study must not realize how vital the whole claims experience is for keeping clients. These three companies earned a pitiful 2 out of a possible 5 in the "overall satisfaction" for claims service.

- 21st Century

- Commerce

- Mercury

Best Insurance Companies For Claims Service

The following companies on the other hand know that to keep clients, you have to fufill your promise to pay their claims (if there is coverage). They also understand that customer service is just as important, if not more, to clients through the claims process.

Of the top 6 best insurance companies for customer service that placed on the top of the JD Power's 2010 Auto Claims Satisfaction Survey just one received a 5 out of 5 ranking. The next 5 tied for second with a 4 out of 5 ranking, which still isn't too shabby.

1) Auto-Owners Insurance

2) The Hartford

2) California State Automobile Association (CSAA)

2) Erie Insurance

2) American Family

2) Amica Mutual

Best Insurance Companies For Customer Service

In every aspect of the insurance industry that has any contact with customers, good customer service is key. Treat your customers like you don't care or they don't matter and you will watch your profits head out the door along with the clients that leave you for better insurance companies.

The companies that JDPower.com gives the Customer Service Champions award to each year understand the importance of customer service. To keep their customers happy they not only offer wonderful customer service, they exceed the expectations of their own customers in this area.

Here are the best insurance companies that received the 2011 Customer Service Champions (in no specific order):

Amica

USAA

Auto-Owners Insurance

Erie Insurance

Farm Bureau Insurance

NJM Insurance Group

Best Insurance Company Mascots

Why should you care about insurance mascots? They have nothing to do with the claims department or how good a company's customer service is. You should care because they are important in the very early stages of the insurance shopping process.

The best insurance companies use mascots to get potential customers to remember them when they are searching for new insurance quotes. Potential customers remember the mascot from advertising and associate the mascot with the insurance company. This association leads to contacting that company when they are ready for a new insurance quote.

Here are the top three best insurance company mascots that were recognized in an advertising study:

1) The GEICO Gecko

2) Flo from Progressive

3) Allstate's Mayhem

The Best Insurance Companies of 2011

Fortune 500 ranks businesses each year based on information that are more important to stockholders than insurance consumers like you and me. Still a company that makes the top of the Fortune 500 list indicates that they are doing something right with customers are flocking to them and staying with them. It also shows that they are stable as a company and will be around in the future if you need to report a claim.

The top 10 best insurance companies as rated on the Fortune 500:

1) GEICO (Berkshire Hathaway)

2) AIG

3) State Farm

4) Liberty Mutual

5) Allstate

6) Travelers Cos

7) Hartford Financial

8) Nationwide

9) United Services Automobile Association

10) Progressive

by: Todd Clay


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