Does your car insurance company have a great amount of customer complaints? Will you have problems placing a claim, or have a valid claim delayed or denied? Is your insurance company good or bad? Most consumers fail to check the complaint records of their insurance companies. This blog post provides complaint information for the 20 leading Minnesota auto insurance companies and ranks them from best to worst, based on their 2010 national complaint record (Accurate 2011 complaint records are not available yet).
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With my state reviews, I like to use the state complaint ratios, to tell you if an insurance company has a better or worse complaint record in your state, compared to competing insurance companies.
Unfortunately, not every state’s insurance department provides complaint ratios. Minnesota is one of them. The complaint ratios help to compare auto insurance companies, to see if an insurance company has a higher than average, or lower than average number of complaints, adjusted based on the insurance company’s market share.
A state’s department of insurance website is usually a good place to find out consumer information about insurance & insurance companies.
Here is the link to the Minnesota Department of Commerce Insurance Division Website, which I used as a resource to determine the major insurance companies for the Minnesota insurance market.
I was able to determine the largest Property & Casualty insurance companies in Minnesota, but I was not able to find out each company’s market share for a line of insurance, such as auto insurance. I tried to eliminate insurance companies offering only business insurance, such as Workers Compensation insurance.
However, I know some companies making this list because they sell auto insurance, such as Fireman’s Fund, sell a lot more business insurance than they do auto insurance, and most likely would not have made this list of the largest auto insurers in Minnesota, had I been able to determine their actual auto insurance market share.
I usually like to list 25-40 companies, to cover most of the states’ auto insurance market, but because I cannot figure out the top 40 auto insurance companies accurately, I keep the list short to companies I am sure have a large market share. I list the largest Property & Casualty Companies in Minnesota, so I don’t miss regional insurance companies, which aren’t known nationally, but may be important to insurance customers in Minnesota.
I leave out of this blog post some well-known auto insurance companies, like Geico, not having a very large market share in Minnesota. Information about these companies can be obtained by visiting my website.
As I wrote earlier in this post, you need to use an insurance company’s complaint ratio to fairly compare an insurance company’s complaint record with another insurance company’s complaint record.
I devised a letter grade system, using the national auto insurance complaint ratios for the insurance companies listed, to make it easy to tell an insurance company with a great or good complaint record, from an insurance company with a poor or average complaint record.
Go to my website to see more complaint ratios & ratings, and JD Power customer satisfaction ratings, for auto insurance companies (or to find complaint information regarding home insurance) not on this list.
Here is my grading system. I also list the national complaint ratio (the lower the number the better the complaint record).
A+ = Insurance companies with complaints 25% or less than the average insurance company.
A = Insurance companies with complaints 50% or less than the average insurance company.
B = Insurance companies with complaints 90% or less than the average insurance company.
C = Insurance companies with complaints from 90% to 110% of the average insurance company.
D = Insurance companies with complaints from 110% to 200% of the average insurance company.
F = Insurance companies with complaints over 200% of the average insurance company. More than twice as much as average!
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Consider these grades, along with price and other factors (as listed on my website), when choosing an auto insurance company.
Insurance companies frequently have several subsidiary auto insurance companies. Some subsidiary company’s names do not indicate their parent company.
For example, it may not be clear Illinois Farmers Insurance Company & Fire Insurance Exchange are companies belonging to Farmers Insurance Group. Or, Federal Insurance Company is a part of Chubb & Sons, Incorporated.
Many of the insurance companies on this list, such as Allstate, have other large subsidiary auto insurance companies not shown here, but their complaint information is available on my website.
Make sure you know the correct name of the insurance subsidiary quoting or insuring you, to check the proper complaint grade.
If you want to decrease the chance of having a problem with your insurance company, go with the highest ranked auto insurance company — even if it costs more. The good news is the best car insurance companies often have very good rates — you can go with a better insurance company AND save money.
Here is the list. Remember to shop with as many companies as possible, so you can find the best rates, service, & coverage for you.
20 Minnesota Auto Insurance Companies Ranked from Best to Worst by Their 2010 National Complaint Records
1. Cincinnati Insurance Company = A+ (.16)
2. Owners Insurance Company = A+ (.19)
3. Illinois Farmers Insurance Company (Farmers) = A+ (.24)
4. State Farm Mutual Automobile Insurance Company = A (.34)
5. Auto-owners Insurance Company = A (.48)
6. Progressive Preferred Insurance Company = B+ (.51)
7. Travelers Home & Marine Insurance Company = B+ (.52)
8. Liberty Mutual Fire Insurance Company = B (.56)
9. American Family Mutual Insurance Company = B (.58)
10. Farm Bureau Property & Casualty Insurance Company = B (.60)
11. Fireman’s Fund Insurance Company = B (.61)
12. State Farm Fire & Casualty Company = B (.61)
13. Progressive Direct Insurance Company = B (.65)
14. North Star Mutual Insurance Company = B (.68)
15. West Bend Mutual Insurance Company = B (.72)
16. Farmers Insurance Exchange = C (.95)
17. Allstate Insurance Company = C (.96)
18. Auto Club Insurance Association (AAA) = C (1.03)
19. Federal Insurance Company = D+ (1.11)
20. Grinnell Mutual Reinsurance Company = D (1.54)
Now you know the complaint ratings for the biggest auto insurance companies in Minnesota. The next step is to get price quotes by shopping your auto insurance & homeowners insurance with ALL the leading insurance companies, you can get a great price AND great customer service & claims handling. Use my website to find all the leading insurance companies, evaluate their customer service, and find the best price for you.
Do you have any questions or commentary about these Minnesota car insurance ratings or rankings? Tell me about it. Please leave a comment on my facebook page. Follow me on Twitter for important insurance consumer news and new blog entries at CarInsWatch.