Does your home insurance company have a very large amount of customer complaints? Will you have problems placing a claim, or have a valid claim delayed or denied? Will you find out your company is good or bad when you need it? Most consumers fail to check the complaint records of their insurance companies. This blog post provides complaint information for the 30 largest Mississippi home insurance companies & rates and ranks them, from best to worst, based on their 2010 national complaint record (Accurate 2011 complaint records are not available yet).
I am always blogging to help you get the best policies & prices for auto, home, & life insurance, so bookmark or place my website in your favorites!
With my state reviews, I like to use the state home insurance 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. Mississippi is one of these states not providing state complaint information for homeowners insurance. Complaint ratios are useful to compare car insurance companies, to see if the 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 Mississippi Insurance Department Website, which I used as a resource to find the biggest thirty home insurance companies based on their share of the Mississippi home insurance market.
Below is a list of the major home insurance companies in Mississippi, ranked by their national complaint ratios from my website. A complaint ratio of 1.00 is average. A ratio higher than one is worse than average. A ratio less than 1.00 is better than average. A complaint ratio of 0 means no complaints in 2010. The lowest complaint ratio has the best complaint record, and the highest complaint ratio has the worst complaint record.
For example, a complaint ratio of .25 has one quarter of the number of complaints (after adjusting for the company’s size) of the average company. A complaint ratio of .50 has half the number of claims of the average company. A complaint ratio of 5.00 has a complaint record 5 times the number of complaints of the average company.
I devised a letter grade system, using the national complaint ratios for the home insurance companies listed, to make it easier 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, and JD Power customer satisfaction ratings, for home insurance companies (or to find complaint information regarding car insurance) not on this list.
Here is my grading system:
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!
Consider these grades, along with price and other factors (as listed on my website), when choosing an insurance company. I also list the national home insurance complaint ratio for each company. Remember, the lower the number the better the complaint record.
Insurance companies frequently have several subsidiary home insurance companies. 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 home insurance company — even if it costs more. The good news is the best home insurance companies often have very good rates — you can go with a better insurance company AND save money.
Most of these companies offer home, condo, renters, mobile home or manufactured home insurance, in addition to other lines, like auto insurance.
However, some of these companies, like Foremost, American Family Home Insurance, & National Security Fire & Casualty, specialize in manufactured/ mobile home insurance, and limited home insurance policies for people having a hard time qualifying for regular home insurance. These companies may not offer standard home insurance.
Here is the list. Remember to shop with as many companies as possible, so you can find the best rates, service, & coverage for you.
30 Top Mississippi Home Insurance Companies Ranked by Their 2010 National Complaint Records
1. Republic Underwriters Insurance Company = A+ (No home complaints in 2010)
2. Foremost Signature Insurance Company = A+ (No home complaints in 2010)
3. Vigilant Insurance Company ( A Chubb & Son company) = A (.27)
4. United Services Automobile Association = A (.28) (USAA sells only to the military, their immediate family members, and honorably discharged veterans).
5. USAA Casualty Insurance = A (.30) (USAA sells only to the military, their immediate family members, and honorably discharged veterans).
6. Economy Premier Assurance Company (A Metlife Company) = A (.36)
7. Foremost Insurance Company Grand Rapids, MI = A (.38)
8. Allstate Indemnity Company = A (.38)
9. Lexington Insurance Company (A Chartis / AIG company) = A (.41)
10. State Farm Fire & Casualty Company = A (.44)
11. Shelter Mutual Insurance Company = B+ (.52)
12. Automobile Insurance Company of Hartford, CT (A Travelers company, NOT Hartford) = B (.56)
13. Metropolitan Property & Casualty Insurance Company (A Metlife company) = B (.59)
14. State Auto Property & Casualty Insurance Company = B (.60)
15. Safeco Insurance Company of America = B (.67)
16. Nationwide Mutual fire Insurance Company = B (.76)
17. Mississippi Farm Bureau Casualty Insurance Company = B (.79)
18. Allstate Property & Casualty Insurance Company = C+ (.90)
19. Nationwide Property & Casualty Insurance Company = C+ (.90)
20. Alfa General Insurance Corporation = C (.94)
21. Allstate Insurance Company = C (.99)
22. Farmers Insurance Exchange = C- (1.07)
23. Travelers Home & Marine Insurance Company = C- (1.10)
24. Truck Insurance Exchange (A Farmers company) = D+ (1.12)
25. American Family Home Insurance Company (An American Modern Insurance Group company, NOT a part of American Family Insurance) = D (1.18)
26. GuideOne Mutual Insurance Company = D (1.19)
27. National Security Fire Insurance Company = D (1.51)
28. American Bankers Insurance Company of Florida = D- (1.94)
29. Homesite Insurance Company = F (2.14)
30. Alfa Insurance Corporation = F (2.88)
Now you know the complaint ratings for the biggest home insurance companies in Mississippi. 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.
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