Saturday, 2 May 2020

Top 5 Insurance Companies

In this article, we are going to list the top 5 insurance companies in 2020 and most of this information is going to based on the JD Power Associate from the reports of 2019. So this is very accurate information. I am not going to get into the stability details because 90% of these companies or probably all of them are going to be in the A+ or A range for as far as stability goes. 

1. The Hartford

One of the reasons the Hartford is at the top is because they are partnered with AARP (American Association of Retired Persons) If you are an AARP member they are likely going to give you a better deal. 

Recovery Car Assistance

If you are in an accident and you can't use your car or something happens and you get injured in an accident they might pay any additional living expenses while you can't work, while you can't mow the lawn because your leg is broken. You have to pay somebody to mow the lawn, you can't do things that you normally did so they are going to cover a certain amount to that. 

New Car Replacement

1515, it is 15,000 miles or 15 months. So if your car is less than 15 months old and less than fifteen thousand miles, they are going to replace it with a brand new year model car. 

Lifetime Car Repair

Most of these companies have something similar to this. That is something you will have to ask if it is important to you. You can get to any mechanic just about every company let you do that. However, if you go to their recommended mechanics than what they will do for you they will give you a lifetime repair. If that repair rakes down or goes wrong, it is covered for life. it is a warranty.

Accident Forgiveness

This is also another thing that a lot of companies offer but you have to ask because there is a lot of different states that they don't offer it. Hartford says they do offer it to most states, so forgives is a really good thing. If you are in your first accident and restriction is you cannot have had an accident within five years. If you have, grit your teeth and wait. Because as long as you go that five-period, you are good. They are going to ignore the fact that that happened.

The reason that is important is that most companies will rate that against you hard. If you run into a lick or you hit a kid or you hit a wall, no matter what situation that is, That is huge, because you have an apple act on your record, you are going to be calling companies left to right because you are once five $500 every six months or $800 every year policy. Now $1,200 a year, $1,500 a year. That is a big difference. 


2. Auto-Owners Insurance

Customer Confident

They have been around for a long time. The reputation is on their website, the reputation is being the no problem people. So when you have an issue they are going to take care of it. that is one of the most important things as we are in 2020, a lot of companies are going to streamline their process based on the customers, they are trying to appease the customer because they know the rates are fluctuation right now because of the claim that is happening, so what they are trying to do is they are trying to focus more on customer service. They are going to sell you the value of the company more than the costs of the prices.

We always shop by price, most of us do, but they are focused on the confident planners. Because you are confident planner is going to be someone that is not likely to leave the company after a year or two years if the rate changes they are going to stay. Because if they like the company they know they are being taken care of, they are not getting taken advantage of, that is the type of person these companies are looking for and they know that it is not going to be based on a price. It is going to based on value and customer experience. 

Modified Vehicle

This company ensures modified vehicles or they call them converted vehicle, if you have got like a conversion van that you turned into something else, that is something a lot of other companies don't do. That separates auto owners from the rest of other insurance companies, there are already companies that do that these guys really stand out. I don't even think in this top 5 that any of them do convert vehicles because that is something that a lot of companies just don't want to touch. 

Personal Auto Plus

This makes auto-owners insurance a completely different niche. They have created a program that you can just get one package and most of these will fit you. The benefits of having the personal auto plus. There is trip interruption coverage, it basically provides up to $500 for expenses if your vehicle is disabled. Now that is the mechanical disablement, it doesn't mean if you had an accident that is not going to be covered. You also have to be a hundred miles or further away from home for this to happen. 

Cellular Phone Or Two-way Communication Device

If you have a GPS system in your car or a cell phone, it doesn't even matter and the things are they don't even say if it is in the car they just say if this device is stolen they will provide up to $500 worth of coverage for that. If you are interested in this get more detailed with them they did not have an asterisk, so it doesn't say specifically whether they are going to cover it if it has to be in the vehicle or if it in general if it is broken or stolen.

Non Owned trailer

If you are borrowing a trailer you cannot own it and it can't be a family member's trailer, they will cover up to a $1,000 for damages, if something happens to that trailer. 

Supplemental Payment Coverage

In the occurrence that you need bail bonds on the result of an accident or traffic law violation. $500 is provided, up to $250 per day to cover any lost earnings and expenses.

Personal Property Coverage

Any of your personal items. If there is a result of a loss to personal property contained in your vehicle, this type of auto insurance coverage provides up to $500 fo that loss. But keep in mind, if that happens you must call the police right away, get a police report otherwise they are likely to just throw that claim out if you call them a week or two later. 

Vehicle Stolen

If the vehicle is stolen which is a rarity so this is not something I would lean my purchase off of, but if your vehicles in stolen so if you are in an area that you think it is likely more likely to be stolen, then they will provide you basically give you a rental car $50 per day up to $1,500 total per occurrence.

Rekey Coverage

In the event that the keys are stolen and the theft is promptly reported so you have to call this in. This eliminates people from doing these false claims, I mean, I lose my keys I better just go get another set mate. Anyway, it covers up to $250 to have the lock system redone or replaced.

Deductible Amendatory

In even if your vehicle is attached to a trailer I mean, you are in a collision with the vehicle not owned by you or relative, they will apply the highest deductible so they are going to cover it. In other to get that package you do have to have full coverage so it is not something that you can just do with liability. 


3. USAA - (United Service Automobile Association)

You have to be eligible to get this insurance, so how are you eligible? According to their website you have to be either active or retired or honorably separated officer that was enlisted in the Us military. You have to be part of the military or have been part of the military or left the military on good terms. Or you have to be part of family members' plan or you have to be a family member that is part of the military, you can do it through the family. There's a good and bad to it, the bad is if you are hearing this you are not part of the military or your family are not part of that then you can't get it. That is just the way it works. That is one of the reasons their rates are better and their service is better because they are able to focus on a specific niche. And that is one of the things you are going to find with some of these insurance companies that will put them at the top or at the bottom because they either get bad at it or did well.


They are giving dividends if you paid more in and the company is successful then you are going to get a little money back saying thank we appreciate the business you paid us a little bit too much this year and we did really well thanks for driving safe, here is some money. 


4. New Jersey Manufacturers.

They only insure in New Jersey and Pennsylvania. If you live in New Jersy or Pennsylvania, that is definitely going to be an option for you to call. They are one of the biggest companies in New Jersey. There price based on the average policyholder in the state. That is such a big thing because most places based on the zip code that you live in if you live in 85718 whatever if you live in that area they are going to see all the accidents in the area and rate you based on the area. 

If you are in a retirement community there is more likely access you could be the best driver in the world but they are going to rate that against you. Those are living in New Jersey and Pennsylvania those are larger cities, they are likely to have a lot of more claims, a lot more accidents. So now you got a company that is going to rate the whole state instead of just this tiny little area that you live in. If you are one of those people that live in that tiny little area that is not so great, New Jersy manufacturers are going to be a great company for you to call. 


They would give you a dividend back based on what you are paying. If you have overpaid you are going to get money back. It is not going to be huge, I mean, it might be $3 to $100.


5. Erie Insurance

Auto Plus

It provides pet coverage and that is up to $500 per pet so all you pet lovers that are per pet to a total of $1,000. If they have a couple pets in the car hopefully you are not, you are not doing a walking dog business although if you are, I don't think there are any restrictions for that. 


If you have a collision, up to $350 for personal item coverage. If you get an accident and something breaks that might be covered but if you are in a collision they are going to cover up to $350 of your personal items. 

Discounts For Drivers Under 21 

They offer discounts for drivers under 21 when they live in the same house with their parents and the parents have insurance with them. If you are a parent and you have got a child under 21, you were going to get a discount which is very rare just if you add the kids to your policy. That doesn't necessarily say they are going to be the best price, this is not just based on price, this is based on a lot of different factors. Although just keep in mind when you do tell them that your 16-year-old driver just started driving they usually make you either add or exclude them and some companies don't like to exclude them. So you may be having to force yourself into a quick decision.


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