Do you know if your property insurance company has 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 home insurance company is good or bad? Many consumers fail to check the complaint records of their insurance companies. This blog post provides complaint information for the twenty-five largest Nevada home insurance companies, covering over 87% of the Nevada homeowners insurance market, and rates & 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 show you if a homeowners insurance company has a better or worse complaint record in your state, compared to competing insurance companies.
Unfortunately, not all state insurance departments provide complaint ratios. Nevada is one of these states not providing state property insurance complaint information. Complaint ratios can be used to compare home insurance companies, to see if an insurance company has a higher than average, or lower than average number of home insurance complaints, adjusted based on the insurance company’s market share.
A state’s department of insurance website is a great place to find out consumer information about insurance & insurance companies. Nevada has some useful information on its site which other states don’t provide, like access to policy forms, so you can see the wording of a company’s home insurance policy before you buy it.
Here is the link to the Nevada Division of Insurance Website, which I used as a resource to find the biggest 25 companies based on their share of the 2007 (the most recent year available) Nevada home insurance market.
Below I list the major home insurance companies in Nevada, ranked by their 2010 national home insurance 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 .10 has one tenth of the number of home insurance complaints (after adjusting for the company’s size) of the average company. A complaint ratio of .75 has 75% the number of claims of the average company. A complaint ratio of 4.00 has a complaint record four 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 in this blog post, to make it simpler to tell an insurance company with a great or good complaint record, from an insurance company with a poor or average complaint record.
Visit my website home page to see more complaint ratios, & JD Power customer satisfaction ratings, for homeowners insurance companies (or to find complaint information regarding auto 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!
I list the complaint grade for each company, in addition to the complaint ratio. Remember, the lower the complaint ratio, the better the complaint record is for the company.
Consider these grades, along with price and other factors (as listed on my website), when choosing an home insurance company.
Insurance companies frequently have several subsidiary home insurance companies. For example, Farmers Insurance Exchange & Fire Insurance Exchange are both part of Farmers Insurance Group, and both sell home insurance in Nevada. 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 possibility of having a problem with your home insurance company, go with the highest ranked insurance company — even if it costs more. The good news is the best homeowners insurance companies can have very good rates. You can choose 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.
25 Top Nevada Home Insurance Companies Ranked from Best to Worst, by Their 2010 National Complaint Records
1. Vigilant Insurance Company (A Chubb & Son company) = A (.27)
2. United Services Automobile Association = A (.28) (USAA sells only to the military, their immediate family members, and honorably discharged veterans).
3. USAA Casualty Insurance Company = A (.30) (USAA sells only to the military, their immediate family members, and honorably discharged veterans).
4. Allstate Indemnity Company = A (.38)
5. Foremost Insurance Company of Grand Rapids, MI = A (.38)
6. State Farm Fire & Casualty Company = A (.44)
7. Country Mutual Insurance Company = A (.45)
8. Liberty Mutual Fire Insurance Company = A- (.49)
9. AMCO Insurance Company (An Allied Company) = B (.55)
10. Automobile Insurance Company of Hartford, CT ( A Travelers company, NOT Hartford) = B (.56)
11. Fire Insurance Exchange (A Farmers Insurance Group company) = B (.62)
12. Safeco Insurance Company of America = B (.67)
13. American National Property & Casualty Company = B (.78)
14. American Family Mutual Insurance Company = B (.79)
15. Allstate Property & Casualty Insurance Company = C (.90)
16. Empire Fire & Marine Insurance Company = C (.90)
17. Allstate Insurance Company = C (.99)
18. ACA Insurance Company (An AAA/Auto Club company) = C (1.07)
19. Farmers Insurance Exchange = C (1.07)
20. Travelers Home & Marine Insurance Company = C- (1.10)
21. Meritplan Insurance Company = D (1.24)
22. Property & Casualty Insurance Company of Hartford (A Hartford company) = D (1.30)
23. Western Mutual Insurance Company = D (1.79)
24. Hartford Underwriters Insurance Company = D (1.82)
25. Century National Insurance Company = F (2.05)
Now you know the complaint ratings for the biggest home insurance companies in Nevada.. 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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