Is researching my insurance company important?

Insurance company research is incredibly important to finding a policy that meets your specific needs. Researching can also help you find discounts and cheaper insurance.

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A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: Jan 25, 2021

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Here's what you need to know...

  • Your policy should be customized to meet your needs and the needs of your family
  • Knowing how a company deals with claims processing and customer service is important
  • Always do your homework on various insurance companies before making a final decision

You should research your car insurance company to make sure you are dealing with a reputable company that can pay your claims in the event of an accident.

A disputed claim may take months to settle while costing you thousands of dollars.

The first task in choosing the best insurance company for you is to determine your insurance needs. There are many factors to consider when choosing an insurance company.

Before even talking with an agent, however, a search on the company is a good place to start.

Research a company to make sure it can handle your car insurance needs before signing a policy with it.

You can get car insurance quotes today by simply entering your ZIP code above to start the process.

What should I look for in a car insurance company?


The company’s solvency is an indication of its financial strength and ability to pay your claim.

Web sites such as A.M. Best, Standard and Poor’s, and Moody’s will allow you to put the name of your prospective choices in the search field one at a time.

The results will yield a grade issued by each of these companies that indicate the company’s level of solvency.

The company’s ability to pay your claim is not the only strong point an insurer should display.

Customer service and integrity are also essential elements of any business and signs of how it values its customers.

Awards, such as those from J.D. Power and Associates, are issued on a yearly basis to insurance companies who display a recognizable level of customer service and integrity.

Company reviews are a good resource for choosing a car insurance company.

This short list offers some additional tips of what you should look for in a car insurance company:

  • Plans
  • Programs
  • Incentives
  • Discounts
  • Flexibility

When you compare these factors with other companies, whoever has the best combination for you is a good choice.

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How do I choose a good car insurance plan?

Plans are determined by state requirements, and each state is different in its approach, based on the roads, traffic, and safety guidelines established by the state department of transportation.

Your plan should include your residential state minimum requirements.

Then it should include a comprehensive, collision, and uninsured or underinsured amount of coverage as necessary.

If you have been required to carry SR22 or FR44 by a court of law, your carrier should offer this at an affordable rate. If you have been a loyal customer with no prior violations, you should receive leniency.

If you are trying to get new coverage from a major carrier with moving violations on your record or bad credit, your rates may be expensive.

You may have to go with a non-standard or high-risk carrier until you get over this hurdle. If your moving violation is for speeding, you may be able to take a defense driving course to lower your rate.

When should I switch to a different car insurance company?


If your insurance carrier is raising your rates even without violations, it may be time to look for another car insurance company.

If your carrier is not recognizing the latest trends in the industry such as accident forgiveness or decreasing deductible, it may be time to make some new comparisons.

If your car insurance company does not offer multiple policy discounts along with good driver or good credit discounts, this may not be the car insurance company for you.

The true test is whether your choices offer these programs and incentives that ultimately result in an affordable rate with flexible options for you and your family.

If you feel good about the choices left on your list, you are making progress and can determine your final selection by asking them to match the best rate.

Will I be able to save money by researching my car insurance options?


The state of Florida actually gives you a link to a site where you can get car insurance quotes.

The South Carolina Consumer page tells you to shop around and compare prices. Delaware even gives you a list of all the insurance companies within the state.

Researching several auto insurance quotes at a time can save you money. But you must do the somewhat minor legwork of visiting sites online and entering your information.

The benefits of researching your car insurance options online run deep.

Car insurance quotes are available from several major carriers by using only your ZIP code in the search field here!

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