Drivers who are satisfied with their automobile insurance company will often assume they have “the best” company in the business. They are happy with the price they are paying and feel their coverage is adequate. However, many car owners stop there and don’t look further into their provider to find out whether or not they truly do have “the best” car insurer out there. They omit checking to see what other companies are offering to their customers, such as more coverage for a lower overall price. Past the final cost of the premium, drivers should look for other things about their car insurance company before declaring them as the best choice.

How are their finances?
Have you checked into the finances of the car insurance provider for your vehicle? It’s no secret that the current economy isn’t allowing for many companies to do well. Even some of the more popular companies throughout all sectors are barely hanging on. Now is as good of a time as ever to look into the finances of the insurer who claims they will insure your vehicle, especially before the time comes where you may need to file a claim. There have been instances where drivers get in an accident and file a claim with their auto insurer, only to discover their insurer does not have the money to pay up as once promised. This leaves the driver angry and looking for another way to pay for those damages immediately, particularly the medical bills. Had those drivers known about their car insurance company’s financial strength, they could have switched to a stronger provider before they needed to file a claim to avoid this mishap.

Checking out the financial strength of an auto insurance provider is relatively simple and doesn’t take much of the driver’s time. If you think you will need to contact the insurer to get this information, think again. There are third party companies who go in and evaluate car  insurance companies to determine how strong they are financially. Each company has their own ranking system and gladly shares their findings with the public. The companies who are providing the rankings are trusted companies who have been performing these evaluations for some time.

There are three known companies we’ll discuss today that will give out their findings of which insurance companies are strong and which ones should be avoided. The first is AM Best. They are adamant about sharing who is “Secure” and who is “Vulnerable” in their finances. This is determined by their giving each company a letter grade, much like in school. Any company receiving a letter grade of B or lower is deemed as vulnerable to financial failure, but this does not indicate that AM Best knows the insurance company is going to fail. It implies that based on the car insurance company’s current finances and the way they are handling them they are susceptible to a possible failure. Companies who receive a letter grade of B+ or higher are secure, meaning they are likely to remain financially strong for the next while according to their current finances.

A second company that will evaluate the financial status of car insurance companies is Weiss Ratings. Each quarter, Weiss Ratings evaluates other companies and then will post their findings. Weiss explicitly states they do not accept any money from the companies they evaluate, which makes their findings 100% unbiased. They give out letter grades to the companies they rank, ranging from an A to an E. Receiving an A will indicate the insurer is “Excellent” while an E ranking will deem that company as “Very Weak.”

The third company is Standard and Poor’s. They have been assessing financial strength since 1971 and they also distribute letter grades, beginning with the highest markings of AAA. They offer an interactive guide for their readers to help them understand how to properly read their findings and use them for their benefit.

All ratings from these companies are their opinions based on what they have found in their evaluations. They are not guarantees, only suggestions.

How will they treat you?
The top car  insurance companies will go out of their way to help their customers feel like they are the top priority. Speaking with other trusted drivers about how their interactions have been with their insurer can help a driver figure out which company is best, but this can lead to a small group of opinions and make it a harder choice. JD Power is a third party company that evaluates not the financial status of a company like the previously mentioned companies, but they evaluate the customer satisfaction of an insurer. Not only do they assess the way customers are treated by the representatives, but also the way a customer can pay their bill and the overall experience. JD Power will list their top find each year.

What is their cost compared to others?
Price is a huge factor when choosing an insurance provider for your vehicle. It’s almost the top reason why people will switch insurers. However, as seemingly important as this may be, most drivers don’t bother to see what other insurance companies are offering for the same coverage.  Farm Bureau Insurance will need to know information about the driver, vehicle, and coverage wanted, which is exactly what would be asked by other insurers if you were to call around and get quotes. We do this face-to-face  so we can get to know you and your needs,when the answers have been submitted, we will know we’ve met your needs.

The best auto insurance company is the one that has a strong financial status, great customer service, and low prices. While some companies may only offer two out of the three, Farm Bureau does quite well at all three. Occasionally the financial status and customer service may be top notch, but the price is a little higher than other companies. Some drivers may find this to be okay since they’ll be paying a little more for a better quality company, but only they can make that decision. Know what you want before you purchase a policy for better chances of being happy with the company.

At the Steve Bedgood Agency we strive for excellent service while offering an excellent product at a fair price. Check us out at www.muskegonautoinsurance.net.

Parents and teenagers often disagree on a number of issues, but saving money on car insurance is one issue that they should agree on. Many times, it’s the parent that is paying for the insurance premium charges and the teenage driver isn’t too worried about the expense. It’s not until the parent sits down with their child and explains the process of purchasing car insurance for them and the vehicle, how coverage is decided, and what it takes to pay for the insurance policy that the teen starts to understand the importance of this insurance. Teenage drivers who can grasp the value of the coverage may decide to care more about how safely they are driving, especially when they realize how much accidents cost and affect the car insurance premium.

For The Teenage Driver:
Teenagers are placed in a different category of drivers than their parents. When they are ready to be put on a policy, the auto insurer automatically assumes them to be a high risk driver due to their lack of experience. Don’t take personal offense because this is decided based on the statistics showing teenage drivers being involved in a high number of accidents. If anything, take responsibility and keep your driving record clean, which means free from accidents and traffic tickets. If you can manage to do this for three years, you will begin to see a decrease in your premium rates.

Something a teen driver can do is  to help pay for your part of the rates as a secondary driver. It becomes an expensive bill as more drivers are added to a policy and parents might offer more flexibility in their rules if they see you trying to make an adult-like effort and taking financial responsibility for your activities.

Showing them this process might have a lasting effect so when they are old enough to leave home and purchase their own car insurance policy, they will know just what to look for.

Look for a vehicle that is insurance friendly. It may not be the most popular car in the market, but an automobile that helps you get lower rates will be easier on your wallet. Vehicles that are a few years old, have safety features, and aren’t flashy sports cars will be your best bet. If you’re curious about which specific cars will help you save money, contact me and ask what rates Farm Bureau would charge for different cars. A young driver and a car that requires “full coverage insurance is the most expensive combination.

For The Parent:
Parents are always looking for ways to save money with their children’s endeavors, and saving on car insurance is nothing different. One way to help save on future premium hikes is to set an understanding with the teenager of what is expected, or rules that need to be followed and the consequences that will be experienced if they cause an accident or receive a traffic violation. Many of my clients warn that the child will get their own insurance if they get a ticket. It’s a great idea to bring your new potential driver in with you and let me help you educate them. on the rules of the road and the cost of driving poorly in the early years.

Some rules could include the specific hours the teen may drive (sun up to sun down), who is allowed in the vehicle when the teen drives, whether or not the radio or cell phone can be used while driving, or how many miles the teen is permitted to drive per week or month. These rules may only need to be enforced for the first year of driving or they may need to be in effect for longer, depending on the teen. As your child demonstrates an ability to follow your rules and state traffic laws, you can more easily trust their driving skills and lighten up on certain expectations. But, this doing is choice of the parent.

Another idea is to expect the teen to contribute in paying for part or all of the premium charges. Many parents require their teenagers to pay for their portion of the insurance rates before the policy period begins. This is another way to instill responsibility in the teen and help them understand the values of money and good coverage. It is less expensive to keep the teen driver on the parent’s policy and not create a new policy just for the teen, especially when they are listed as a secondary driver because their use of the car is limited by the parent.

For Both:
Working together as a parent and teen team is the best way to save money on car insurance for the teenager. Look us up to find the best premium by seeing what we’ll will offer. Start with calling me at (231) 744-9099. Or check out www.SteveBedgoodAgency.com.

Providing honest, accurate answers will ensure receiving an accurate quote that won’t change at the time of purchase (if you choose to make a purchase). This can even be done for teens who only have their driving permit and have some time before they turn 16 and are eligible for a license. These kids do need insurance and can be added as soon as their permit is qualified.

You’ll see that Farm Bureau Insurance has a strong financial status and great customer service rates. Write a list of the pros and cons of each policy, and then make a decision.

It could also be valuable to go through a couple things before the teen is allowed to drive. For instance, explaining what is and is not covered on your policy will help the teen better understand the estimated costs of repairs when damages occur. Also, go through the process of what should be done if the teen is involved in an accident, such as who should be called and what information will need to be given to the officer and other driver.

Auto insurance for teenagers can be quite expensive, but when there is a mutual understanding of what is expected between the parent and teen, a higher chance of saving money happens.

Check out www.muskegonautoinsurance.net

The search for the best auto insurance company will take more time than planned when the search is being conducted without having exact points to look for and compare between companies. Of course, the point of comparison on most driver’s minds is the price; will Company A charge me less than Company B? But there is more to finding the best provider of car coverage than the cheapest price, especially if the policyholder wants an overall quality experience. The trick is knowing these other factors to look for, and where to look for them. These include, but are not limited to, the financial stability of the company, whether or not the company is a state admitted carrier, great customer service, and the types of coverage available. In comparing these five aspects of each carrier, anyone can find out who the best insurer is to provide an auto coverage policy.

Competitive Prices
Everyone knows that when multiple companies offer the same product, a consumer is going to choose the company with the lowest price. This also holds true in automobile insurance where the company offering the lesser price for full coverage or limited liability will usually get the consumer. Motorists who are looking for the lowest price will be contacting the companies by calling them or looking through their website for an idea as to how much they will be charging. By giving us your zip code and information about the vehicle, driver, and coverage wanted, we can provide a quote that meets your needs. It only takes a few minutes. Drivers may be surprised to discover they can afford more coverage than previously thought.

Financial Stability
Consumers who purchase products of an expensive nature want the company to be around for a while in the event there happens to be problems with the product. That way the consumer can easily make a return and get the situation resolved. If the company experienced financial hardship and is no longer around, that consumer has a broken product, lost money, and no longer has anyone to help them. Car insurance is a type of product that should be thought of in the same manner. Policyholders do not want to purchase their policy from a company who is in financial trouble and may not be available to pay for any damages that need repairs. The worst scenario would be the policyholder who is involved in a major accident and unbeknownst to them, their insurer cannot pay for any of the repairs or medical bills as promised, which leaves the policyholder to fend for themselves.

The way to avoid being in this situation is to check out the insurer’s financial status before signing the contract policy. Using companies such as AM Best, Weiss Ratings, and Standard and Poor’s gives the future policyholder an idea as to where their considered insurers stand with their finances. These companies are not involved with the insurers and can provide an unbiased opinion. They gather their information and submit it to the public. Each company uses their own ratings system and declares their findings. It becomes very comforting when a policyholder finds that their chosen possible insurers have been deemed financially sound from all of these companies.

State Admitted Carrier
Checking with the state’s Department of Insurance will also help motorists figure out which insurance companies are better than others. Policyholders can file complaints with the Insurance Department, who keeps those claims on record. Anyone can ask for information on which insurers are on this list with the state. Also, by knowing an insurer is listed with the state, the policyholder can be less leery of that company being a scam.

Customer Service
The customer service experience plays a large role in finding out which companies are best. Because people are dealing with their insurance company any time they pay a bill, call with a question, or file a claim, they hope their representative will have a wealth of knowledge about their question and steer them in the right direction that will make the policyholder happy. Policyholders who have negative experiences with their provider’s representatives are more likely to change insurers. Just as in financial stability, there are third party companies who look at insurance companies and figure out who offers the best customer service experience. JD Power is one such company and they measure customer service aspects such as bill pay, filing claims, and overall experience. Each company is given a number of stars for each area and every year they claim one company to provide the best customer service experience based on their findings.

Types of Coverage
When policyholders understand coverage options to add to their policy, they are more satisfied and feel better protected. Companies who offer a “do it yourself” quote may be hoping to get clients by price alone. This can lead to unsatisfied policyholders if there is no service after the sale. Full coverage options include not just the state required minimum liabilities, but also comprehensive and collision, towing, rental car, and medical payments. Full coverage indicates the policyholder will be able to have their insurer pay for all of the damages, up to the purchased amount, once the deductible has been met. Auto insurance is available so people can protect their assets and have a way to pay for accident related damages.

There is no one best car insurance company for everyone because all policyholders have different ideas as to what constitutes “the best”. Every driver has their own opinions and because so, they must all conduct their own research to see which insurer could give them the best experience possible.
Where you look, be sure to check out muskegonautoinsurance.net or just call me at (231) 744-9099

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