Resources to Choose the Best Homeowner’s Insurance Company

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Choosing homeowner insurance can be a daunting and confusing process.  In today’s market, more than ever, it is important that you get the best deal for your money.  However, you also want to choose a company that is financially stable and provides quality customer service in addition to the best price for coverage.  There are many resources available to help you find the best homeowner insurance companies when you are shopping for a policy.   While doing online research and asking friends and family for references is a great place to start, there are plenty of tools and tricks that you can use to make sure you get the biggest bang for your buck. Check these resources as you begin your search for the right plan for you.

Homeowner Insurance Rating

Insurance companies are rated by companies that have online listing of different companies.  Each company uses a slightly different methodology to determine which companies are the most financially stable.  You want to purchase a homeowner insurance policy from a company with the highest rating possible.  This is especially important as a company with a low rating might be less willing or less able to pay you if you file a claim.  This is an added headache you don’t need when you are also dealing with a damaged home.   Companies that offer these ratings are Ambest.com and Moodys.com.

 

Consumer Watchdog Groups

You can also turn to subjective reviews from third-party organizations such as the Better Business Bureau in your area.  These companies review insurance companies based on criteria such as customer service and the best prices.  The Better Business Bureau is a non-profit and they publish their ratings and consumer complaints they receive about homeowner insurance companies.  These can be a great guide for you to choose the best company.

 

State Department of Insurance

Each state has a department of insurance that can help you chose the best company for your homeowner’s policy.  Many states have online databases which provide these ratings or you can contact them by phone to ask about a particular company.  Also, the Department of Insurance provides licenses for insurance companies that want to do business in their state.  If a insurance company you are considering does not appear on their database, do not purchase their policy.

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