Best Insurance Companies 2016: Customers rate today’s top carriers
Insurance policies are often loaded with complexities. But the best insurance companies also offer some very simple things: great service and great pricing.
To gauge which insurers stand out from their competitors in these respects, Insure.com each year surveys customers of the top companies for car insurance, life insurance, health insurance and home insurance. Insure.com asks these customers what they think of their insurers’ prices, customer service and handling of claims, as well as whether they would recommend their insurance company to a friend and whether they plan to renew their current policy.
The 2016 results reveal that some of today’s top insurers are creating lots of happy customers, while others are doing significantly less of that. Read on to see which companies ranked highest – and lowest – in each category of insurance.
- Best car insurance companies
- Best life insurance companies
- Best health insurance companies
- Best home insurance companies
Best auto insurance companies
The auto insurance industry is loaded with big companies, but owning a large share of the market is no guarantee that your customers are satisfied.
In 2016 CSAA Insurance Group topped the list of auto insurers in the survey with an overall satisfaction score of 90.4, edging out perennial favorite USAA (87.5). State Farm (87.2) placed third.
Best life insurance companies
Among insurance categories, life insurance is unique in that most customers only shop for it once and make only one claim per policy. (For this reason, the criteria for life rankings omit the claims-handling and renewal components.) That makes it critical to find the right life insurance company the first time.
Respondents to the survey reported the highest degree of satisfaction with life insurance from Voya Financial (formerly ING), which posted an overall score of 92. Mass Mutual claimed the second-highest satisfaction score in the survey (91.4), while State Farm (89.5) repeated its No. 3 finish from the auto category.
Best health insurance companies
Few industries today are subject to more upheaval than health insurance. Yet some health insurers have managed to keep the vast majority of their customers satisfied through these tumultuous times.
In particular, the Blue Cross Blue Shield family has done an exceptional job of pleasing its customers. Horizon Blue Cross Blue Shield of New Jersey topped the rankings this year with a score of 88.8, followed by Blue Cross Blue Shield of Michigan (86.8) in second and Blue Cross Blue Shield of Florida (84.1) in third.
Best home insurance companies
Most people use their home insurance less than they do, say, their health insurance. But given the size and importance of many home insurance claims, it’s wise for consumers to vet their home insurer as carefully as possible.
The Hartford was the top-scoring company for home insurance in the survey, earning a satisfaction score of 88.1. State Farm (86.5) took the second spot, marking that company’s third top-three appearance in the survey’s four categories. Chubb Insurance (84.4) claimed the third position.
Insure.com commissioned Op4G to survey more than 4,000 insurance customers nationwide in June 2015. The survey collected customer ratings for 20 large companies in the auto category and 15 large companies each in the home, health and life categories. Only current customers of the insurers on our lists were surveyed and the survey was not open to the general public on the Insure.com website.
Respondents answered questions about their levels of satisfaction with their insurers, and each answer was assigned a point value. Points were then averaged and totaled for each company. The companies with the three highest scores in each category earned Insure.com's "People's Choice Award."
The A.M. Best ratings noted in the survey do not affect the scores, but are provided as a supplementary resource. The “discounts” and “coverage options” for auto insurance carriers also do not affect the scores.
Insure.com makes these ratings freely available via this site. The views and opinions expressed by users do not reflect the views and opinions of Insure.com. Insure.com expressly disclaims any and all liability in connection with the ratings.