Evaluating Insurance Companies
Whatever insurance you purchase, you will buy it from an insurance company, either directly from the company or through an insurance agent. You should check out an insurance company's financial well-being before purchasing their products. Your state insurance department is a good place to start. The National Association of Insurance Commissioners (NAIC) provides links to state insurance department websites. You can also search for complaint and financial information on the NAIC site.
You may also want to find out the following information about an insurance company.
- How long has the company been in business?
- How long has the company been in this type of business?
- What is its industry rating? A.M. Best Company has been analyzing and rating insurance companies for over 100 years. The company provides insurance company ratings and profiles on its website. Free membership is required to view reports.
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Digital Federal Credit Union 220 Donald Lynch Boulevard PO Box 9130 Marlborough, MA 01752-9130 508.263.6700 • 800.328.8797 |
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