Finding the top car insurance companies for Massachusetts isn’t that tough – but it does require doing a little research. We’ve made the job a bit easier with a few resources that you can use. Check out these links to help you find the top car insurance companies for Massachusetts.
The best bet is to start with the state’s department of insurance. Here you will find Shopping for Auto Insurance Step-by-Step, rate comparison information, a survey on automobile insurance, automobile insurance company complaint data (for the 18 largest auto insurers in Massachusetts), and other resources.
Reviewing the 2008 complaints, State Farm had only one complaint filed. The company had 0.42 percent premium share in the state in 2008, and 0.64 complaints per $10,000,000 in premium. Liberty Mutual, with an 8.37 percent premium share had 48 complaints for that year, and 1.53 complaints per $10,000,000 in premium. Amica Mutual, with 3.67 percent premium share, had 21 complaints and 1.56 complaints per $10,000,000 in written premium.
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 Massachusetts (doing business in the state, although they may be headquartered elsewhere) are Amica Mutual, State Farm. Amica Mutual is the JDPA award winner, and State Farm has a four-circle JDPA rating.
Check with Ratings Agencies – The top car insurance companies for Massachusetts, 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: email@example.com.
- 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.