
Insurance is an important part of your financial plan and everyone wants to get a good deal on insurance. However price is only one component of a good deal. Another component is service, and for insurance a critical component of service is if they will pay when they are supposed to.
A number of years back my Mother's house caught fire while she was at the beach. She was insured by
USAA and everyone said that USAA was a fabulous insurance company. They took her premiums for years with no problems, but when it came time to pay the claim they offered her pennies on the dollar. If she did not like it she could sue them. She did not have any money for a lawyer, so she had to take what she could get. It was not enough to rebuild her house, so she had to move back in with her mother. I do not recommend USAA insurance.
Recently Ruth Ann was hit from behind by someone insured by
Gieco. We are not Gieco customers, but they treated us wonderfully. They got us a rental car. When we told them we needed a bigger rental car because we have so many kids, one with at least as many seats as the van that was hit, they cheerfully complied. They found someone who repaired the van and did great work. We did not have to worry about anything and they were always a pleasure to deal with. I highly recommend Gieco.
If anyone knows of a good website that had information about insurance companies, and what percentage of claims they pay fully, etc, I would be very interested.