Check Fire insurance company rating?
Hi, I'm looking for a website that should rate Fire Insurance companies in NY, kindly advise
The rating companies (all have websites) are as follows:
AM Best
Standard & Poor's
Moody's
These are the best three. You can also check with your state's department/commissioner of insurance.
A.M. Best is your best source for the financial rating - expressing the financial strength of the company. They rate all companies. The problem with JD Powers ratings is they look only at National Carriers and some of the best homeowners & fire insurance companies (in terms of customer service, competitive prices, etc.) are regional companies that operate in only a few states in different parts of the country. You may want to do a seach for the NY State Insurance Commissioner or the State gov. to see if they have consumer ratings for companies operating in NY. Also, the NY Independant agents association may have the results of surveys & customer service ratings for NY companies.
Answers:
The AM Best reference left by the last post is to determine their financial rating. The higher the rating means they have more assets and financial stability and are less likely to become solvent.
If you are looking for a website that gives you customer satisfaction ratings, check out JD Power & Associates website.
http://www.jdpower.com/finance/ratings/h...
www.ambest.com . . . if you put in the name of the insurance company, up pops the rating!