Do you know if your homeowners insurance company has a lot of complaints? Will you have difficulty placing a claim, or have a valid claim delayed or denied? Most consumers fail to check the complaint records of their insurance companies. Will your company turn out to be good or bad when you most need them? Here I provide complaint information for the 40 biggest (by Missouri market share, based on premium) home insurance companies, covering 89% of the Missouri home insurance market. I rate and rank them, from best to worst, based on their homeowners insurance complaints for the last three years, 2008 through 2010. (Accurate 2011 data not available yet).
I’m always blogging to help you get the coverage you need, & great prices for auto, home, & life insurance, so bookmark or place my website in your favorites!
The Missouri Department of Insurance website is the source of my information about Missouri home insurance company market share & complaint information.
The Missouri home insurance complaint index considers each insurance company’s number of homeowners insurance complaints in 2008, 2009, & 2010, & compares it to the industry average number of complaints it should have, based on it’s market share in Missouri.
For example, a Missouri home insurance complaint index of 100 is average. An index of 20 is only 20% of the industry average for home insurance complaints. An index of 200 is 100% more (Twice as much as average) than the industry average number of complaints. The home insurance companies with the best complaint records have the lowest numbers for their Missouri home insurance complaint index.
I provide the Missouri homeowners complaint index for each home insurance company, but I devised a letter grade system to make it easy to tell an insurance company with a good or great complaint record, from an insurance company with a poor or mediocre complaint record.
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.
For additional information, go to my website to see AM Best ratings, JD Power customer satisfaction rankings, & national complaint ratios for home insurance companies (or to find important information regarding car insurance) not on this list.
Insurance companies frequently have several subsidiary insurance companies selling home, condo, mobile home, manufactured home, & renters insurance. The name of the subsidiary company does not always indicate the parent company. For example, you know you have Farmers insurance, but the Farmers subsidiary insurance company insuring you is called Fire Insurance Exchange. Make sure you know the correct name of the insurance subsidiary company quoting or insuring you, to check the proper complaint grade.
Missouri home insurance rates for many companies continue to rise this year, as they have over the last few years. Last year’s severe tornado season, such as the devastation occurring in Joplin, is leading insurance companies to reassess the costs involved with large catastrophic claims. Many insurance companies are raising their home insurance rates to make sure they can pay future claims, if there continues to be an increasing number & cost of claims.
Also, some homeowners insurance companies are reducing their coverage by no longer paying replacement cost, or forcing you to take much higher deductibles.
Check with your home insurance company to find out if your coverage has changed (or will change soon), or your rates are going up, and shop with all the leading home & auto insurance companies, to find the right coverage for you at the best price.
40 Home Insurance Companies Ranked & Rated from Best to Worst by their 2008-2010 Missouri Home Insurance Complaint Index
1. Factory Mutual Insurance Company = A+ (No Complaints)
2. Meritplan Insurance Company = A+ (No Complaints)
3. Great Northern Insurance Company (A Chubb & Son company) = A+ (No Complaints)
4. American Security Insurance Company = A (27)
5. Electric Insurance Company (Discounts for GE Employees)= A (31)
6. American Automobile Insurance Company (A Fireman’s Fund company) = A (32)
7. USAA Casualty Insurance Company = A (33)
8. State Auto Property & Casualty Insurance Company = A (37)
9. Nationwide Affinity Insurance Company Of America = A (41)
10. United Services Automobile Association (USAA) = A (46)
11. Nationwide Mutual Insurance Company = B (55)
12. Cincinnati Insurance Company = B (56)
13. American Modern Home Insurance Company = B (58)
14. Auto Owners Insurance Company = B (67)
15. State Farm Fire & Casualty Company = B (68)
16. Liberty Mutual Fire Insurance Company = B (69)
17. Cameron Mutual Insurance Company = B (69)
18. Shelter Mutual Insurance Company = B (71)
19. AMCO Insurance Company(An Allied company) = B (74)
20. American Family Mutual Insurance Company = B (78)
21. Safeco Insurance Company Of America = B- (89)
22. Auto Club Family Insurance Company = C (101)
23. Hartford Underwriters Insurance Company = C- (108)
24. Country Mutual Insurance Company (A Country Companies company) = D+ (112)
25. American National Property & Casualty Company (ANPAC) = D+ (113)
26. Travelers Home & Marine Insurance Company = D+ (119)
27. Allied Property & Casualty Insurance Company = D (130)
28. Farm Bureau Town & Country Ins Co Of MO = D (139)
29. Standard Fire Insurance Company (a Travelers company) = D (141)
30. Allstate Insurance Company = D (150)
31. Midwestern Indemnity Company = D (163)
32. Property & Casualty Insurance Co of Hartford (The Hartford) = D (164)
33. Foremost Insurance Company Grand Rapids, MI = D (170)
34. Allstate Property & Casualty Insurance Company = D (176)
35. Allstate Indemnity Company = D (179)
36. Farmers Insurance Exchange = D (180)
37. Mid Century Insurance Company (A Farmers Company) = F (202)
38. Lititz Mutual Insurance Company = F (216)
39. Fire Insurance Exchange (A Farmers company) = F (234)
40. Homesite Indemnity Company
(Homesite partners with some auto insurance companies, like Progressive, GMAC, & GEICO to sell its insurance) = F (514)
Now you know how the largest Missouri home insurance companies are rated for complaints, go and shop your car & home insurance. You can get better rates AND better service!
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