When you’re trying to determine the top car insurance companies for Missouri, it’s necessary to use several sources and do your own research. It’s not only the cost of premiums for one company versus another that you should consider, but also benefits offered, financial condition and level of service. Here are several sites to help you determine the top car insurance companies for Missouri – and which one may be best to meet your needs.
Missouri Department of Insurance – How well an auto insurance company doing business in Missouri handles complaints is an important consideration in the search for the top car insurance companies for Missouri. Looking at the the state’s 2009 complaint report for private passenger auto insurance companies is a good place to start. For the three year period of 2007-2009, the report shows number of complaints, average annual premium and average market. Here are some of the big players:
- State Farm Insurance – 583 complaints, $583 million average annual premium, and 20.92 percent average market share
- American Family Mutural Insurance – 259 complaints, $435 million average annual premium, and 15.6 percent average market share
- Shelter Mutual Insurance – 72 complaints, $146 million average annual premium, and 5.2 percent average market share
- Farmers Insurance – 140 complaints, $135 million average annual premium, and 4.8 percent average market share
J.D. Power and Associates – Another important consideration for top car insurance companies for Missouri is which 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 (doing business in Missouri, although they may be headquartered elsewhere) are Amica Mutual, State Farm, and Geico. Amica Mutual is the JDPA award winner, and State Farm, Shelter and Geico each have a four-circle JDPA rating. Allstate, American Family Group, Farmers and Progressive each have a three-circle JDPA rating.
Check with Ratings Agencies – Top car insurance companies for Missouri should also have strong financial ratings. One way to determine an auto insurance company’s financial strength is to check with ratings agencies for more detailed information about its ratings. Here are several ratings agencies:
- 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 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 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 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 emailed 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.
For more tips on car insurance, visit our section on car insurance where you can get additional tips and insurance quotes.