| When you are in the market for home insurance, | | | | which looks at an insurance company's ability to |
| it's important to not only check the price of | | | | pay claims and meet financial obligations on a scale |
| coverage, but also to check the homeowners | | | | from AAA (very strong financial security |
| insurance company ratings. Ratings give you | | | | characteristics) to BBB (good financial security |
| information about a company's financial strength, | | | | characteristics). |
| customer service record, claims records, and | | | | * J.D. Power's (jdpower.com), which conducts |
| more that you can use when you shop for | | | | consumer surveys and then rates companies on |
| insurance. | | | | their policy offerings, cost, billing and payment |
| By taking the time to check these ratings, you | | | | policies, and ease of contacting an agent. |
| can select the best company with the best rates | | | | Using Ratings When You Shop for Insurance |
| and the most affordable coverage. | | | | Checking homeowners insurance company ratings |
| How to Check Ratings | | | | will help you narrow down your choices when you |
| It's easy to check the ratings of insurance | | | | shop for insurance, especially if you shop online |
| companies, especially if you go online to the | | | | rather than through an agent. |
| websites for ... | | | | Shopping online through an insurance comparison |
| * The Better Business Bureau and your state's | | | | website gets you access to more quotes more |
| Department of Insurance, to see how many | | | | quickly than you can possibly get by visiting an |
| complaints have been lodged against insurance | | | | agent. This will help you get the best rate possible |
| companies. | | | | for your home. |
| * A.M. Best Company (ambest.com), which | | | | In addition, you can quickly check the rating of |
| evaluates the strength of insurance companies on | | | | the insurance companies from the website. Most |
| a scale from AAA (extremely strong) to CC | | | | insurance comparison websites only offer quotes |
| (extremely weak). They also include a rating of R | | | | from companies that are A-rated or above (see |
| for Under Regulatory Supervision. | | | | link below). |
| * Standard & Poor's (standardandpoors.com), | | | | |