Louisiana Auto Insurance Review: National Automotive Insurance Company Downgraded by AM Best for Financial Stability.

National Automotive Insurance Company, a company selling standard and nonstandard auto insurance in Louisiana, was downgraded March 12, 2013, by the AM Best rating agency, to a grade of “C” (Weak) from it’s previous grade of “B” (Fair) for financial stability. As readers of my blog know, I advocate shopping with as many companies as possible to find the best rate. Shopping for the lowest car insurance rate is even more important for people qualifying only for more expensive nonstandard auto insurance, designed to insure higher risk drivers, like young drivers with little experience, the recently licensed, and drivers with tickets, accidents, claims, or a lapse in their recent car insurance history. But if the company with the lowest rate for you has a low financial stability rating, you may have a problem with getting your claim paid. If your auto insurance company becomes insolvent when you have a claim, the claim may not be paid, or not paid in full, or payment delayed for an excessive amount of time. So, shop for the best car insurance rates, but avoid choosing an auto or home insurance company with a lower than an “A-” rating from AM Best, whenever possible. If you are insured with National Automotive Insurance Company, it would be wise to contact other agents and insurance companies for price quotes from more financially stable insurers. In addition to insuring with a better car insurance company, you may get a better price. However, not all insurance companies insure all types of drivers, so this blog post will give you some ideas on where to shop, and discuss the recent complaint record of National Automotive Insurance Company, which should be another reason you should consider changing to another auto insurance company. Continue reading