Looking for the top car insurance companies for North Carolina? You’ve come to the right spot. We’ve got some information that may prove helpful in identifying not only the top auto insurers nationally, but the top car insurance companies for North Carolina as well.
North Carolina Department of Insurance
When searching for the top car insurance companies for North Carolina, it’s best to start first with the North Carolina Department of Insurance website. The site offers consumers the ability to determine a company’s complaint ratio and provides other useful resources.
For Auto, Homeowners and Health insurance, a company’s complaint ratio indicates the total number of complaints (against that company) received during the previous calendar year by the North Carolina Department of Insurance, per $1 million of premiums written by that company in North Carolina during that same year. For example, an Auto, Homeowners or Health insurance complaint ratio of 1.25 means that the North Carolina Department of Insurance received 1.25 complaints for every $1 million of premiums written by that company during the previous calendar year.
Go to Understanding Complaint Ratios, select auto, and choose Excel or PDF file to view the list of complaints. Among auto insurers with the highest written premiums in the state, Amica had 5 complaints (0.29 percent ratio) for $17,443,643 in premiums, Geico had 50 complaints (0.90 percent ratio) for $55,746,998 in premiums written, and State Farm had 221 complaints (0.59 percent) for $373,785,660 in written premiums.
J.D. Power and Associates – You also want to know which top car insurance companies nationally had the highest overall customer satisfaction. The annual J.D. Power and Associates 2010 U.S. National Auto Insurance Study provides a good look at the best-rated car insurers across five factors: interaction, policy offerings, billing and payment, price, and claims. Checking their list, the top car insurance companies for North Carolina (doing business in the state, although they may be headquartered elsewhere) are Amica Mutual, State Farm, and Geico. Amica Mutual is the JDPA award winner, and State Farm and Geico each have a four-circle JDPA rating.
Check with Ratings Agencies – The top car insurance companies for North Carolina, just like the top insurers in other states, will have strong financial ratings. One way to determine an auto insurance company’s financial strength is to check with ratings agencies with more detailed information about its ratings. Here are several ratings agencies to check:
- A.M. Best — Provides free ratings for up to three companies per call at (908) 439-2200 ext. 5742. Unlimited ratings can be accessed via their web address at http://www3.ambest.com/ratings/default.asp.
- Fitch — Provides free financial strength ratings for up to five companies per call at (800) 893-4824. Ratings are also available via their website at http://www.fitchratings.com.
- Moody’s — Provides free ratings for up to five companies per call at (212) 553-0377. Unlimited ratings can be accessed via their web address at http://www.moodys.com.
- Standard & Poor’s — Provides free ratings for up to five companies per call at (212) 438-2400. Requests can also be sent by email to: firstname.lastname@example.org.
- TheStreet.com Ratings — Provides all of their ratings for free on their website at http://www.theStreet.com. Reach them at (800) 289-9222.