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Insurance.com methodologies

 

Insurance.com Make Me Switch methodology

Insurance.com surveyed 4,023 auto insurance customers nationwide in June 2015. The online-panel survey was not open to the general public. Consumers were asked whether they would switch insurance companies at any price and at various savings levels from $50 to $1,000.

Insurance.com customer satisfaction survey methodology

Insurance.com surveyed 4,023 auto insurance customers nationwide in June 2015. The online-panel survey was not open to the general public. Consumers answered questions about their levels of satisfaction with their insurers, and each answer was assigned a point value. Points were then averaged and totaled for each company.

Data were gathered for 20 large auto insurance companies and major subsidiaries; they represent only a fraction of all auto insurance carriers but nearly 75 percent of written premiums.

The views and opinions expressed by users do not reflect the views and opinions of Insurance.com. Insurance.com expressly disclaims any and all liability in connection with the ratings.

A.M. Best disclaimer and ratings explanation

Best's Credit Ratings are under continuous review and subject to change and/or affirmation. Visit the A.M. Best website for the latest Best’s Credit Ratings and Best’s Credit Reports (which include Best’s Credit Ratings).

Best's Credit Ratings reproduced on this site appear under license from A.M. Best and do not constitute, either expressly or impliedly, an endorsement of Insurance.com or its recommendations, formulas, criteria or comparisons to any other ratings, rating scales or rating organizations which are published or referenced herein. A.M. Best is not responsible for transcription errors made in presenting Best's Credit Ratings. Best’s Credit Ratings are proprietary and may not be reproduced or distributed without the express written permission of A.M. Best Company.

A Best’s Financial Strength Rating opinion addresses the relative ability of an insurer to meet its ongoing insurance obligations. It is not a warranty of a company’s financial strength and ability to meet its obligations to policyholders. View our Important Notice: Best's Credit Ratings for a disclaimer notice and complete details at http://www.ambest.com/ratings/notice.

Rating

Descriptor

Definition

A++, A+

Superior

Assigned to companies that have, in our opinion, a superior ability to meet their ongoing insurance obligations

A, A-

Excellent

Assigned to companies that have, in our opinion, an excellent ability to meet their ongoing insurance obligations

B++, B+

Good

Assigned to companies that have, in our opinion, a good ability to meet their ongoing insurance obligations

B, B-

Fair

Assigned to companies that have, in our opinion, a fair ability to meet their ongoing insurance obligations. Financial strength is vulnerable to adverse changes in underwriting and economic conditions.

C++, C+

Marginal

Assigned to companies that have, in our opinion, a marginal ability to meet their ongoing insurance obligations. Financial strength is vulnerable to adverse changes in underwriting and economic conditions.

C, C-

Weak

Assigned to companies that have, in our opinion, a weak ability to meet their ongoing insurance obligations. Financial strength is very vulnerable to adverse changes in underwriting and economic conditions.

D

Poor

Assigned to companies that have, in our opinion, a poor ability to meet their ongoing insurance obligations. Financial strength is extremely vulnerable to adverse changes in underwriting and economic conditions.

E

Under Regulatory Supervision

Assigned to companies (and possible their subsidiaries/affiliates) placed under a significant form of regulatory supervision, control or restraint - including cease and desist orders, conservatorship or rehabilitation, but not liquidation - that prevents conduct of normal, ongoing insurance operations.

F

In Liquidation

Assigned to companies placed in liquidation by a court of law or by a forced liquidation.

S

Suspended

Assigned to rated companies when sudden and significant events affect their balance sheet strength or operating performance and rating implications cannot be evaluated due to a lack of timely or adequate information.

Insurance.com auto insurance coverage calculator methodology

Insurance.com analyzed more than 550,000 car insurance quotes provided to users from Jan. 1, 2013, to July 14, 2014, to identify the most popular coverage choices regarding liability limits and collision and comprehensive deductibles. Data do not include quotes for Alaska, Hawaii or Massachusetts. 

Percentages shown are for top three coverage choices. The remainder of users bought other combinations of liability limits, collision and comprehensive coverage.

Insurance.com speeding ticket calculator methodology

Insurance.com analyzed more than 490,000 auto insurance quotes provided to Insurance.com users from 14 carriers, comparing quotes given to drivers with the 14 most common infractions recorded to quotes given to drivers with no violations. We used a model to estimate the annualized premium expected for certain combinations of personal attributes (residence, state, time with prior carrier, marital status and age) along with 14 violations. This ranking is not inclusive of all possible driving violations. Rates shown are averages; your own rate will depend on your personal factors. State laws governing traffic violations are subject to change.

Additionally, Insurance.com commissioned Quadrant Information Services to gather rates comparing a driver with a clean record to a driver with certain violations from six major carriers in 10 ZIP codes in each state. Rates were returned on sample driver, male, 40 years old, single, a homeowner, driving 12 miles each way to work in a 2014 Honda Accord LX, for 100/300/50 liability coverage, collision and comprehensive coverage with a $500 deductible, uninsured motorist and additional mandatory coverages as required in each state.

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