When it comes to rating auto insurance companies there are few different factors that go into that rating.  I happen to have my personal favorite insurance company, I’ll tell you at the end of this post, but let’s look at the factors.  Using probably one of the most respected names in this industry JD Power and Associates I will give you their criteria for ranking insurance companies.

Overall Satisfaction – How satisfied are the customers.
Contacting the Insurer – This is based on the experience when you have to call the insurance company
Policy Offerings – The variety of coverages available
Billing and Payment – The timeliness and accuracy of billing statements
Price – The cost of the policy

According to these criteria they came up with a ranking list and found that the winner in their contest was Amica Mutual.  Feel free to visit their site to read all about it.  

Well that’s JD Power’s rankings but here are the most important things to me when I search for an auto insurance company.  They are price, timeliness of paying claims and customer service.

When it comes to insurance for most people I know the biggest factor is price.  The way I view insurance is that it is something you have but hopefully never need to use.  Because of that if I can get quality coverage at a reasonable price then I am usually satisfied.  Obviously the company should be financially stable and you can check AM Best to see that but if they are then that is fine. 

The second factor is timeliness to pay claims.  You really don’t learn about an insurance company when you are purchasing coverage because that is not when you need them, you really learn about them when you have an accident and need help.  How do they respond to you in your time of need?  After price this is the one factor that will make me switch from one company to another if they are not quick in paying claims or if they are slow to evaluate my car or approve repairs.  I don’t like nit-picky insurance companies that want to nickel and dime you to death over repairs needed for your car when it has been in an accident.  I used to work at Enterprise Rent-A-Car and there were some insurance companies that took forever to pay or send out adjusters to look at vehicles, I stay away from those.

Finally there is customer service.  The truth is no one ever really feels good about buying insurance, they just know it is a necessary event.  However if the company can treat you right when you need them then that can keep me loyal to them. 

In my mind there is such a fine line between one company and another that it is hard to separate them.  If you look at TV you know the big insurers like GEICO, Allstate and Progressive.  There are also plenty of regional carriers that may provide better service and rates for you.  If you ever look at these commercials and how auto insurance is marketed the overriding factor is how much money you can save by switching from one to the other.  This simply means that price is the overriding factor again.  So to answer what are the top rated insurance companies, in my book the ones where you can get the most coverage at the best price.  With that thought I promised I would mention my personal favorite and that is Response Insurance.

Here are some other ideas on the topic:

The best auto insurance companies
How to compare auto insurance companies
How to find a top rated auto insurance company