Evaluating & Choosing Insurance Companies
A friend is interested in changing insurance companies for her home and cars. She asked me how to find out if a company is any good. I'm embarrassed to say that I really don't know. I told her to find out the full legal name of the company and we could check the AMBest rating but that is all I could think of. For that matter, I'm not even sure AMBest is still around - it's been 25 years since I was in the mortgage business.
Comparing premium costs from various companies is easy. What we need to know is how well the company will pay, and if they will still be around if and when she needs to file a future claim.
She is presently with State Farm, and has gotten a quote for lower premiums from Standard. I don't exactly which variety of SF she has. When we had SF homeowners' coverage, the agent switched us at one point to State Farm Lloyd's