How to Review Auto Insurance Companies (Part 2)

posted on April 10, 2009 in Tips

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Availability

Not all insurance companies are mandated to do business in every state and even those that are will be limited by that state’s mandatory coverage policies, therefore you should check out your state insurance department to find the companies and the minimum coverage you will need.

Financial Status

Unless you are using a national top rated auto insurance company, it is very important to check out their financial standing. This can easily be done online using one or more of the credit agencies, such a Moody’s or Standard & Poor’s. The car insurance industry is very competitive and some companies that try to increase market share, especially by cutting premiums, may not be financially viable if and when you need to make a claim.

Source: superpages.com

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