Does your home insurance company have a lot of policyholder complaints? Will you have difficulty placing a claim, or have a valid claim delayed or denied? How do you know if your homeowners insurance company is any good? Will you find out it’s bad when you really need it? Most consumers fail to check the complaint records of their insurance companies. This blog post provides home insurance complaint information for 27 major insurance companies selling home & renters insurance in Ohio, and ranks them from best to worst, based on their 2009 home & renters insurance complaint record in Ohio (The latest year where state data is available).
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The Ohio Department of Insurance website is the source of my information about home & renters insurance company complaint information. The Ohio home & renters complaint ratio is determined by the number of complaints per one million dollars of 2009 direct written home & renters insurance premium in Ohio for each company. The ratio is used so you can compare the complaint records among home & renters insurance companies fairly.
For example, Nationwide Mutual Fire Insurance Company had .30 complaints in Ohio per one million dollars of home & renters insurance premium it collected in 2009. Liberty Mutual Fire Insurance Company had .61 complaints per one million dollars of home & renters insurance premium it collected in Ohio for 2009, which is more than double the number of complaints per one million dollars of premium than Nationwide Mutual Fire Insurance Company. But both of these companies have a much better 2009 Ohio home & renters insurance complaint ratio than Buckeye State Mutual Insurance Company, which at 1.18, is almost twice the number of home & renters insurance complaints for Liberty Mutual Fire, and almost four times the number of complaints for Nationwide Mutual Fire Insurance Company.
The complaint ratio is important, because a property insurance company with many more customers is likely to have a larger number of complaints than a smaller insurance company, because it handles more customer transactions.
For example, a large insurance company may handle 600 house fire claims, and have 3 complaints in regards to how these claims were handled. A smaller insurance company may have 45 house fire claims, but only one complaint.
Even though the larger insurance company has three times the number of complaints than the smaller insurance company, the larger insurance company has 1 complaint per 200 claims, and the smaller company has 1 complaint per 45 claims. The larger insurance company really has the better complaint record.
The Ohio complaint ratio uses the number of Ohio home & renters insurance complaints against the company per one million dollars of home & renters insurance premium earned by the company, so you can compare a property insurance company’s complaint records with other property insurance companies fairly, regardless of the size of the companies.
IMPORTANT: Ohio provides complaint ratios only for companies having 6 or more complaints in 2009. Westfield National Insurance Company has the best & lowest complaint ratio on the list, at .11. However, this does not mean it is the insurance company with the best home & renters insurance complaint record in Ohio for 2009. Any insurance company not appearing on this list, because it had no home & renters insurance complaints in 2009, has a better complaint record. Any company with less than 6 home & renters insurance complaints in 2009 might have a better complaint record. So, you want to consider choosing insurance companies selling home & renters insurance in Ohio not on this list, too.
Also, you want to think about other factors, beyond one year’s complaint ratio, when deciding on an insurance company.
For additional information to help you choose a property insurance company, go to my website to see national homeowners insurance complaint ratios, AM Best ratings, & JD Power customer satisfaction ratings on all the leading property (home/condo/renters/mobile home/rental dwelling) insurance companies, or to find information regarding automobile insurance.
Insurance companies frequently have several subsidiary property insurance companies, and the name of the subsidiary may be different than the parent insurance group. For example, Farmers Insurance Group has two companies on the list: Farmers Insurance Exchange and Farmers Insurance Company of Columbus, Inc. Make sure you know the proper name of the insurance subsidiary company quoting or insuring you, to check the correct complaint ratio.
Here’s my list. Remember to shop with all the leading property insurance companies, to find the best combination of price, coverage, & service.
27 Major Ohio Insurance Companies Ranked from Best to Worst by their 2009 Ohio Home & Renters Insurance Complaint Ratios
Companies rated better than the 2009 Ohio home & renters insurance industry average complaint ratio (.40)
1. Westfield National Insurance Company = .11
2. Motorists Mutual Insurance Company = .14
3. Cincinnati Insurance Company = .19
4. State Farm Fire & Casualty Company = .21
5. Nationwide Mutual Insurance Company = .23
6. Nationwide Property & Casualty Insurance Company = .25
7. Nationwide Mutual Fire Insurance Company = .30
8. State Automobile Mutual Insurance Company= .36
Companies rated about the same (up to about 50% more) as the 2009 Ohio home & renters insurance industry average complaint ratio (.40)
9. Grange Mutual Casualty Company = .43
10. Standard Fire Insurance Company (Travelers) = .44
11. Erie Insurance Exchange = .48
12. Safeco Insurance Company of Indiana = .51
13. Auto Owners Insurance Company = .53
14. Allstate Property & Casualty Insurance Company = .57
15. Allstate Insurance Company = .59
16. Liberty Mutual Fire Insurance Company = .61
Companies rated worse than the 2009 Ohio home & renters insurance industry average complaint ratio (.40)
17. Property & Casualty Insurance Company of Hartford (The Hartford) = .65
18. Farmers Insurance of Columbus, Inc. (Farmers Insurance Group) = .71
19. Allstate Indemnity Company = .76
20. Farmers Insurance Exchange (Farmers Insurance Group) = .85
21. Westfield Insurance Company = .89
22. Ohio Fair Plan Underwriting Association* = .97
*The Ohio Fair Plan insures properties unable to qualify for insurance coverage in the private market due to claims history, occupancy, condition of the property, or other factors. If you are insured with the Ohio Fair Plan, check with your agent, & shop around with other insurance companies to find out when you will qualify, or what you can do now to qualify, for better & less expensive property insurance coverage.
Companies rated much worse than the 2009 Ohio home & renters insurance industry average complaint ratio (.40)
23. American Family Insurance Company = 1.00
24. Buckeye State Mutual Insurance Company = 1.18
25. American Commerce Insurance Company (AAA / Auto Club) = 1.51
26. Homesite Insurance Company of the Midwest = 1.94 (Homesite partners with auto insurance companies, like Geico, Progressive, Esurance, & GMAC, to sell property insurance for them in some states).
27. Foremost Insurance Company Grand Rapids, MI = 2.50 (Foremost specializes in mobile homes / manufactured homes)
Now you know how the major Ohio home & renters insurance companies are rated for complaints, go and shop your car & property insurance. You can get better rates AND better service!
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