CHOOSING AUTO INSURANCE NOW OR DOWN THE ROAD? TAKE A LOOK AT THE BIG FOUR BEFORE YOU DECIDE.
Auto insurance: If you own a car, you need it. But comparing all of the options out there, reading through the fine print, and deciding which is the best plan can, well, drive you over the edge. According to the National Association of Insurance Commissioners, Geico, Allstate, State Farm, and Progressive together held more than 50% of the 2018 market share of personal auto insurance policies.
All four companies have been in operation for decades, during which time they’ve enjoyed good reputations in the industry and top financial strength ratings. But there are some differences between these industry giants that could impact which one you ultimately decide to go with.
Best Customer Satisfaction Rating: Geico
Choosing auto insurance isn’t just about dollars and cents; it’s about what makes sense for you. Great customer service can make a difference when you’re trying to decipher policy details or make a claim. According to J.D. Power and Consumer Reports data, Geico customers report better overall satisfaction than the other big three in surveys that include customer service questions, pricing, and claims.
Best Coverage Options: Allstate
Gap insurance. Accident forgiveness. New car replacement. They’re just a few of the coverage options you might find yourself needing at some point in your driving life. Out of 11 optional coverage needs, Allstate offered nine; Progressive followed closely with eight.
Best Tech And Apps: Geico
A smooth online experience can help you get out on the road quicker and easier. Geico leads the pack by offering an app with locators for parking, nearby attractions, and gas (no more high anxiety when the low fuel indicator lights up!). In addition, the Geico app includes a vehicle-care feature for car maintenance and a voice activated resource for Amazon’s Alexa as well as an in-app virtual assistant.
Least Number of Consumer Complaints: State Farm
The National Association of Insurance Commissioners reported that State Farm had the fewest complaints reported in 2018 for private passenger auto insurance, relative to its size. But Allstate, Geico, and Progressive also had fewer complaints than the median relative to their size, as measured by premiums written.
Comparing auto insurance companies can mean the difference between paying too much, not having enough coverage, or having unwanted extra options on your policy. Armed with the right insurance information, you’ll be in a better position to accelerate what doesn’t have to be a difficult decision making process.