Looking for the top car insurance companies for Michigan? You’ll need to do your research, but the process isn’t all that difficult. Allow yourself a little time to be thorough and feel confidant that you’ve found the right auto insurance company for your needs. Here are some sources to research for the top car insurance companies for Michigan.
State of Michigan Official Website – How well an auto insurance company doing business in Michigan handles complaints is an important consideration in the search for the top car insurance companies for Michigan. Looking at the 2009 complaint ratios for auto insurance companies that wrote more than $1 million per year for the calendar year is a good place to start. The Michigan.gov site shows that the high-volume players with low complaints and complaint ratios per $1 million in premiums written in the state include:
- State Farm Insurance — 108 complaints, $1.1 billion in direct premiums written, .10 percent complaint ratio
- Allstate Property & Casualty Insurance, Allstate Insurance – 6 complaints, more than $239 million in direct premiums written, .03 percent complaint ratio, and 44 complaints, $112+ million and .39 percent complaint ratio, respectively
- Auto Club Group Insurance Company, Auto Club Insurance Association – 46 and 18 complaints, $495 million and $105 million in direct premiums written, .09 and .17 percent complaint ratios, respectively
- Auto Owners Insurance – 7 complaints, $175 million, .04 percent complaint ratio
- Progressive Michigan Insurance Company – 37 complaints, $347 million, .11 percent complaint ratio
J.D. Power and Associates – You also want to know which top car insurance companies for Michigan 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 Michigan (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 Auto Owners Insurance, State Farm and Geico each have a four-circle JDPA rating. Allstate, Auto Club Group and Progressive each have a three-circle JDPA rating.
Check with Ratings Agencies – Top car insurance companies for Michigan, just like top insurers in other states, 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.