Top 10 Auto Insurance Companies for Paying Claims

Claim payment satisfaction is a measurement used by J.D. Power & Associates, the leading consumer research, study and reporting organization in the U.S. Their annual study of claim satisfaction from actual surveys of auto insurance policyholders across the majority of insurance companies provides the best and most accurate picture of which insurers are providing the best claim processes. The study for 2015 provides information across a number of areas. If you are looking for the best insurance companies for paying claims, you should start with these top 10 car insurance companies.

J.D. Power’s Study Parameters

The 2015 study of customer satisfaction was based on responses from actual auto insurance policyholders who settled a claim six months prior to taking the survey and included a total number of 11,469 respondents. The study did not include claimants that only suffered windshield damage, whose car was stolen or filed a roadside assistance claim.

The study asks questions of the respondents to rank seven separate experiences in the claims process including:

  • Overall Satisfaction
  • First Notice of Loss – initial reporting process
  • Service Interaction – dealing with agents handling the claim
  • Appraisal – the appraisal process
  • Repair Process
  • Rental Car Experience
  • Settlement – fairness of any settlement reached

Scores are ranked out of 1,000 but listed out of 5 circles for ease of visual understanding. 5 circles represents a ranking as “Among the Best”, 4 circles is “Better than Most”, 3 means “About Average and 2 circles represents “The Rest”. If an insurer is 5 circles, it does not mean they have received a perfect 1,000 rating from respondents just that they are among top auto insurance companies.

Assessing Insurers based on Claims

This article is only about choosing an insurer based on their ability to quickly and effectively deal with claims made on their policies. The J.D. Power study is not an all-encompassing study on the subject but can be used as a signifier of the current ability of insurers to respond to claims.

For example, Allstate is not currently in J.D. Power’s leading 10 auto insurance companies for claims. The company pioneered electronic payments for claims in early 2015 through their Fast Mobile e-Payment. They claim that they provide one of the fastest payouts for claims in the industry’s history. I guess, we will wait and see if they will make the preeminent ten next year. Remember that this article doesn’t look at what each company declares to offer in their press releases or websites but looks at what real policyholders with real, recent claims experience say.

Whenever you are deciding on which insurer to use, make sure that you base your decision on more than one factor. Be sure to research a company’s coverage options to meet your specific needs, their pricing in comparison to multiple other companies with the help of CheapAutoInsurance.net’s online quote tool, and their discounts provided for your situation. Only by considering multiple factors should you choose the right insurer for you.

The Top 10 Car Insurance Companies for Claims Satisfaction

Now here is the list of the Top 10 Vehicle Insurers Claim Payment Satisfaction:

  1. Auto-Owners Insurance
  2. NJM Insurance Company
  3. USAA
  4. Amica Mutual
  5. The Hartford
  6. Auto Club of Southern California
  7. Travelers
  8. Safeco
  9. Progressive
  10. Nationwide

Be sure to check out if your state has a regulation or legislative requirement timeline for insurers to respond to or pay out claims made on insurance policies. You can find your state insurance department at the NAIC’s website.

Remember that a claims satisfaction should not be your only reason for choosing an auto insurer but it could make the difference between two you have considered by using our auto insurance quotes tool at the top of the page. Granted that it is well documented why these insurers are the leading vehicle insurance providers. However, this doesn’t make other insurers bad.

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