Finding the top car insurance companies for Minnesota may seem like a daunting task, and it does involve a little bit of research on your part, but it isn’t all that difficult. There are, of course, some qualifiers. One is how you define a car insurance company as top. Another is which car insurance companies have the highest reported customer satisfaction. We’ll use several sources to arrive at the top car insurance companies for Minnesota.
Minnesota Department of Commerce Insurance Gateway – The first place to start is with the state’s department of insurance. Here you’ll find helpful resources and information that can help you determine the top car insurance companies for Minnesota. Definitely check out the 16-page brochure on how to buy auto insurance, what is and isn’t covered, how to compare pricing and more. Top car insurance companies for Minnesota (and the nation) include State Farm, Allstate, Geico, Farmers, Progressive and Nationwide.
J.D. Power and Associates – You also want to know which top car insurance companies for Minnesota 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 Minnesota (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. Allstate, Farmers, Nationwide and Progressive each have a three-circle JDPA rating.
Check with Ratings Agencies – The top car insurance companies for Minnesota, 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.
For more tips on car insurance, visit our section on car insurance where you can get additional tips and insurance quotes.