RANCHO CUCAMONGA, CA, October 19, 2010
/24-7PressRelease/ -- Yesterday's announcement of $6.5 million being returned to consumers by the Missouri Department of Insurance (DOI) so far this year underscores the need for consumers nationwide to get as much information as possible about an insurer before securing coverage.
The sum reflects the amount returned to consumers who had filed formal complaints against their insurers, mostly for the way in which claims were handled, denied or processed. According to the DOI, Missouri consumers have filed more than 3,200 formal complaints this year, of which 702 were related to auto insurance. All state departments handle such complaints, and most make complaint data available to consumers through their websites. This information can help shoppers determine whether the
cheapest auto insurance companies may also be the best ones to go with.
After all, price is not the only component of quality coverage. Along with financial ratings, consumer complaint data can help prospective policyholders gauge the level of stability and satisfaction that they can expect from a company. By looking at the complaint ratios, which weigh number of formal grievances filed against the total number of policies written in the state, shoppers can see how frequently existing policyholders have experienced problems with a given insurer and factor this into their final decision.
Consumers in the market for a new policy can access these annual reports by visiting the websites of their state departments of insurance, a directory of which can be found at
http://consumeraction.gov/insurance.shtml, and searching for the complaint ratio index. For drivers in states that do not host this information online, a telephone number should be available that can be used to get this information.
To access articles about what aspects to look for in a company when shopping for coverage, consumers can go to
http://www.onlineautoinsurance.com/cheap/companies/ where visitors will also be able to access the free quote-comparison generator and start looking for a policy.
---
Press release service and press release distribution provided by http://www.24-7pressrelease.com# # #
Read more Press Releases from John Pirro:
