Does your property insurance company have many customer complaints? Will you have problems placing a claim, or have a valid claim delayed or denied? Will you discover your home insurance company is good or bad when you need them to help you? Many consumers fail to check the complaint records of their home and auto insurance companies. This blog article gives you complaint information for the thirty biggest South Dakota home insurance companies, covering 90.24% of the 2011 home insurance market in the state, and rates & ranks them, from best to worst, based on their 2010 national homeowners insurance complaint records (Accurate 2011 complaint records are not available yet).
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With my state reviews, I prefer to use your state’s complaint data, to show you if your homeowners insurance company has a better or worse complaint record in your state, compared to the state complaint records of competing insurance companies.
Unfortunately, not every state insurance department provides complaint information. The South Dakota Division of Insurance doesn’t provide state insurance complaint ratios. Complaint ratios are useful to compare insurance companies, to see if one insurance company has a greater than average, or lower than average number of home insurance complaints, compared to the market, or as compared with the homeowners insurance complaint records of other companies.
Your state’s department of insurance website is a good place to find consumer information about insurance and insurance companies.
Here is the link to the South Dakota Division of Insurance Website, which I used as a resource to find the 30 largest insurance companies (by the amount of 2011 home insurance premium collected by each insurance company in the state) selling home insurance in South Dakota.
Below is the list of the biggest property (home, condo, mobile home, & renters) insurance companies in South Dakota, ranked by their national homeowners insurance complaint ratios from my website. A homeowners insurance complaint ratio of 1.00 is exactly average. If a company has 5% of the SD home insurance market, and a homeowners insurance complaint ratio of “1.00,” it has 5% of the total of homeowners insurance complaints against all companies.
A complaint ratio larger than 1.00 is worse than average. A ratio less than 1.00 is better than average. A complaint ratio of 0.00 means there were 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 1.15 has fifteen percent more of the number of complaints it should have to be average, based on its market share. A complaint ratio of .55 has 55% of the number of claims of the average insurance company. A complaint ratio of 2.50 has a complaint record two and a half times the number of complaints of the average company.
I devised a letter grade system, using the national complaint ratios for the property insurance companies in this blog post, to make it simple to tell a property insurance company with a great or good complaint record, from an insurance company with a poor or average complaint record.
Some large national insurance companies, such as Amica & Liberty Mutual, have too small a market share in South Dakota to make this list. Some of these companies may have the best rates for you.
You can find more national complaint ratios, and JD Power customer satisfaction ratings, for home-owners insurance companies (or complaint information regarding car insurance) not on this list, by going to my website.
Here’s my grading system. In addition to the complaint grade, I list each company’s national homeowners insurance complaint ratio. Remember, 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!
Consider these grades, along with price and other factors (as listed on my website), when deciding on an homeowners insurance company.
Insurance companies frequently have several subsidiary property insurance companies. For example, Auto-Owners has two companies on this list — Auto-Owners Insurance Company and Owners Insurance Company. I give you the name of the parent company, when I’m aware of it, & when it is not obvious from the subsidiary name. However, make sure you know the correct name of the insurance subsidiary quoting or insuring you, to check the proper complaint grade.
To decrease the chance of problems with your property insurance company, insure with the highest ranked home insurance company — even if it costs more. The good news is the best property (home/landlord/renters/condo/mobile home) insurance companies often have very good rates. You can choose a better insurance company AND save money.
All of the companies on this list currently insure homes in South Dakota, but not all the companies may be selling new policies, or you may not meet the eligibility requirements for every insurance company. Don’t worry about the companies not offering to sell you a policy. You can still use the list and my website to find companies willing to insure you.
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 South Dakota Home Insurance Companies Ranked from Best to Worst by Their 2010 National Homeowners Insurance Complaint Records
1. Western National Mutual Insurance Company = A+ (No homeowners insurance complaints in 2010)
2. Owners Insurance Company (Auto-Owners) = A+ (.14)
3. Milbank Insurance Company (State Auto) = A (.28)
4. United Services Automobile Association (USAA) = A (.28) (USAA sells only to the military, their immediate family members, and honorably discharged veterans)
5. Austin Mutual Insurance Company = A (.28)
6. USAA Casualty Insurance Company = A (.30) (USAA sells only to the military, their immediate family members, and honorably discharged veterans)
7. Nationwide Affinity Insurance Company of America = A (.31)
8. State Farm Fire & Casualty Company = A (.44)
9. Amco Insurance Company (Allied) = B (.55)
10. Teachers Insurance Company (Horace Mann) = B (.60)
11. Fire Insurance Exchange (Farmers Insurance Group) = B (.62)
12. Safeco Insurance Company of America = B (.67)
13. American Family Mutual Insurance Company = B (.79)
14. Auto Owners Insurance Company = B (.83)
15. North Star Mutual Insurance Company = B- (.89)
16. IMT Insurance Company = C (.93)
17. Allied Property & Casualty Insurance Company = C (.93)
18. Allstate Insurance Company = C (.99)
19. Farmers Insurance Exchange (Farmers Insurance Group) = C (1.07)
20. Unitrin Auto & Home Insurance Company = C (1.07)
21. ACA Insurance Company (AAA / Auto Club) = C (1.07)
22. Foremost Insurance Company Grand Rapids, Michigan = D+ (1.14) (Foremost specializes in mobile homes).
23. Property & Casualty Insurance Company of Hartford (The Hartford) = D (1.30)
24. Le Mars Insurance Company = D* (1.57)
25. Farm Bureau Property & Casualty Insurance Company = D (1.62)
26. Farmers Mutual Insurance Company of Nebraska (NOT a part of Farmers Insurance Group) = D (1.84)
27. National Farmers Union Property & Casualty Insurance Company (NOT a part of Farmers Insurance Group) = F* (2.33)
28. United Fire & Casualty Company = F* (2.81)
29. De Smet Farm Mutual Insurance Company of SD = F* (3.42)
30. Northwest GF Mutual Insurance Company = F* (4.75)
*Insurance companies with few customers have high complaint ratios with only several complaints. Although Le Mars, National Farmers, United Fire & Casualty, De Smet Farm Mutual, & Northwest GF Mutual are among the top 30 biggest companies in South Dakota, the state itself does not have a large population. Also, these companies operate only in South Dakota, or a few other states. Le Mars had one, Northwest GF Mutual had two, De Smet and United Fire & Casualty each had three, and National Farmers had four homeowners insurance complaints in 2010. Do not let the “D” or “F” grades for the 2010 complaint ratios deter you from finding out more about these companies. Do not make your decision to choose your home insurance company based on one year’s complaint ratio alone.
Now you know the complaint ratings for the major home insurance companies in South Dakota. 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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