How are insurance carriers rated?
You may be aware the some insurance carriers are better than others, but did you know there is an actual ranking system and grades for every single carrier? AM Best is an agency that reviews insurance carriers and their financial standings. They take into account their ability to pay claims, customer service, pricing, and overall customer satisfaction. The grades go from A+ down to a D, with A+ obviously being the best.
What rating is right for me?
If you have carried a good driving record, credit score, and have one or fewer homeowners insurance claims in the last 5 years, you should be looking for an A carrier, as these are your standard and most stable companies. On the flip side, sometimes younger people, people with low credit, or people with a poor claims history have to settle for something further down the grading scale. This does not necessarily mean they are a bad carrier, but in the event of a very large natural disaster or financial crisis, there is a higher chance of an inability to pay out your claim. Always ask your agent for the AM Best score of whatever carrier(s) they are quoting you with!
What are Hadley, Cook, and Quillen's Carrier Ratings?
I am glad you asked! All of our carriers and their ratings are listed below. We have a carrier for everyone!
Selective Insurance: A
Celina Insurance: A-
Liberty Mutual: A
State Auto: A-
Berkshire Hathaway GUARD: A+