Top Rated Insurance Companies in USA

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Almost all insurance companies across the world have the same kind of mechanism to provide, indemnity or any kind of financial or non financial security against some or all risks. On the whole, the business of cover provided in the field of insurance is simple enough. Insurance companies sell insurance policies to people or businesses, which is chiefly a contract for indemnity. Once they have become the owners of the policy and start paying premiums, these clients of insurance companies are secured by a certain coverage. As a result of this on the occurrence of certain loss-incurring events the insurance companies, observing the indemnity agreement, financially secure or support their client policy holders with finances, requisite as per the agreement against insurance. Now what characteristics enable a company to be counted among the top insurance companies in USA? Here’s an explanation and a list.

Characteristics of the Top Rated Companies

Well, several dimensions and facts are taken into consideration by analysts, business experts and insurance actuary.

  • Insurance Policy and Coverage: Every company is very well versed in the aforementioned process. The smooth execution of the indemnity related transaction does count. Hence any company with good ratings is bound to have a smooth well oiled, dynamic and advanced indemnity provision machine. This merit though is found in almost all the insurance companies.
  • Policies and their Versatility: The policies and versatility of the said policies tends to have a profound effect on the ratings of the company. Policies centered on the needs of customers are profoundly considered while rating a company.
  • Financial Position: An insurance company is chiefly a financial institute that backs us with sufficient coverage and compensation on time. The financial position of the company with regards to securities and investments dictates the ratings of the companies and especially the ability of the company to grant coverage and policies.
  • Service, Premium, Coverage: Of recent, especially in the United States, consumers have expressed dissatisfaction about the inadequate ‘value for money’ which is basically the coverage against premium. A good large coverage against the premium that you currently have, does matter a lot, especially if you are the policy holder. Remember whenever you take a policy, see that it has a nice thin premium and fat coverage.
  • Other Factors: Some of the other factors such as the age of the company, reliable ratings and ratings that come from professional companies who are engaged in designating arithmetically derived ratings, also affect the overall ratings of such companies.

Top Rated Insurance Companies in USA

This list has been compiled using several parameters and facts. Basically, the list is composed of some reliable companies with satisfied customers. Also note that this list is not a rating but is compiled on the basis of the general standing of companies in the insurance market. Unfortunately, we cannot use the premium coverage comparison to rate the following companies, owing to the fact that it differs substantially by the virtue of case and even the policy.

  1. The Hartford: A personal favorite and a greatly admired company, by many. First of all, the company has maintained a very good financial standing in the long run which enables them to provide very good coverage. The company provides reputed policies for auto insurance, property insurance, identity theft insurance and umbrella insurance. The company has observed and experienced some of the biggest disasters in the American history, including the Civil War, Chicago Fire, San Francisco Fire and Earthquake. Talk about the ability to settle claims properly, this company has a ton full of appreciation from the pages of history. Also note that this company is a Fortune 100 company.
  2. Allstate: Despite the shroud of controversy around it, Allstate remains to be in a good position in the market. This company, provides 13 major insurance policy types ranging from auto, life, home to commercial insurance. Recently, the company’s claim settlement was protested against, denoting it to be unjust. In order to avoid hassles, read the terms and conditions of the policy as well as the coverage related clauses really carefully. On the whole, it’s a good company for insurance provision.
  3. MetLife: Life insurance and health or medical insurance is a critical deal. After all it is life at stake. MetLife has shown a really good track record of provision of health and medical insurance world-wide. The global presence and good financial position makes MetLife a top rated life insurance company.
  4. GMAC Insurance: This is one of oldest car and auto insurers in the world dating back to 1939, and insuring some of the oldest models in the world. It is an apt insurance provider for you when you drive in the ever unpredictable road conditions. On the whole, this is a top auto insurance company in US for all cars and auto related insurance works.
  5. State Farm Insurance: A giant insurer in the United States and also in Canada, this company which was founded in 1922, is a provider of insurance to property and if you own large amounts of physical property, then you will get great deals from this company. On the whole, the State Farm Insurance forms classical insurance policies with great coverage for events ranging from disastrous ones to small damages as a part of their indemnity contracts.

Some of the acclaimed insurance providers whose services have been deemed to be excellent by several consumers are:

  • Progressive
  • Erie Insurance
  • Amica
  • Liberty Mutual Auto Insurance
  • NorthWestern Mutual
  • AIG (American International Group)
  • Lincoln National
  • Genworth Financial
  • New York Life Insurance

The other day, I was returning from a business tour, when a bad and slippery runway at the airport forced the pilot to abort the landing and retry. When we all were informed about the aborted attempt to land, I pulled up a fake grave face, turned to the person sitting next to me and said in a mockingly morbid voice, “We are gone, done for, I hope you’ve insured yourself and your belongings, have you?!” That poor guy was terrified and immediately started saying his last prayers. Meanwhile much to everyone’s comfort, the plane landed. The guy beside me gave me an angry look and expressed contempt for the mean joke, I had cracked a while ago. “How could you even think of humor, when it looked like death was near…?”, was his natural question.

“Well”, I said, “why do we need insurance?”
“Huh?” a confused frown appeared on his face.
“You see if I were to die right now I know my wife would be supported by my life insurance and comforted by the absence of my snoring…she would be safe and secure. Then why should I die all sweaty, sad and scared, when I have lived a great life? That way, when I meet Almighty, I would be at least be smiling in a State of Grace…”

This, I am sure, convinced him of the importance of insurance. Are you convinced of how essential it is to insure your life and valuable assets? So, which of the above-given insurance companies are you going for?

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