Who is the best insurance company

This is a question that we are asked often. Most insurance companies don’t realize that while they are fighting us, usually over minor issues, our clients are asking us to recommend their next insurance company.

Our standard answer is they are not your good neighbor, you are not in good hands and they are not on your side. We have found that some of the larger companies tend to bully their policyholders. When you are a giant corporation that handles hundreds of billions of dollars it seems that it goes to your head. Please don’t take that to mean the smaller companies are better.

It is important to note that management and management philosophies change from time to time. There was a large company that had even threaten to stop writing insurance in Texas over all the complaints they had gotten in regards to their claims handling. That company is now probably one of the best of the large carriers to work with.

The best insurance company will change from person to person and with different circumstances. For example, I have Germania for my homeowners insurance. They have always been fair with me, although we don’t always agree. I live in the country and they seem to have a better understanding of rural property. I had one carrier turn me down because there was not a fire hydrant within  300 yards….I don’t think there is one within 5 miles to be honest. That is just the country life.

I strongly recommend that people read reviews, talk to friends and neighbors but the most important thing is to have an agent that you can rely on. A good agent will explain your policy in its entirety. Insurance is dull, there is nothing exciting about it. The excitement comes when you have a loss and you find that the coverage you thought you had is just not there. Ask questions and make sure you understand; what’s covered? More importantly; what’s not covered.

The reality of insurance is the cost is reflective of the product. Asking your agent for the “cheapest” policy will leave you with less coverage and a higher deductible, regardless of the insurance company.  When an insurance company offers a “discount”, there is often a reduction in coverage or the requirement to spend more on the discount trigger. For example; a discount for hail resistant shingles or a metal roof comes with a cosmetic clause. That means hail dents are your roof are not covered unless they cause a leak. An multi-policy discount requires that you maintain multiple policies.

A solid relationship with your agent and you taking the time to listen and understand your coverage can go along way in understanding your policy.