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Best Insurance Company Ratings - The Basics of Health, Auto and Life
By Dean Iggo
Knowing the best insurance company ratings is integral to buying the
best possible policies to cover your health, auto and life. Its not
always the cheapest rate that will garner the best policy. Of course wed
all like to spend less money on the necessities of life and more on the fun
things but attention needs to be given to the qualifications of the companies
and the adequacy of the coverage being supplied.
What Do Rating Companies Look For?
There are three major companies or services that are in the business of rating
insurance companies. Independent rating agencies, these financial analysts
make sure that the insuring company is financially sound and will be able
to reliably meet its obligations when claims are filed. The rating process
measures each insurance companys overall strengths, evaluating ability
to pay dividends, meet liabilities and, acting in the role of prophet, projects
the insurance companys future business prospects.
1. A.M. Best insurance company
Is the best known and most widely recognized of these rating companies.
Publishing over fifty information products to do with insurance companies
and the insurance industry they are experts in their field. An insurance
company deserving of a A++ from A.M. Best insurance company has shown
superior performance and has a very strong ability to meet its obligations
to policyholders over a long period of time. Their grading system covers
the gamut of possibilities rounding out with an F which signifies that the
insurance company in question has been placed under an order of liquidation
by the courts.
2. Standard and Poors
Is a well recognized name with a reputation inspiring confidence in its
judgments. S & P ranks the claim-paying abilities of over 300 insurance
organizations worldwide in addition to its other more widely recognized data
monitoring. They grant a superior insurance company, one able to reliably
meet its financial obligations the rating of AAA. Their lowest form of rating
is an R and warns the consumer that the insurance company in question is
under regulatory action.
3. Moodys or Moodys Ratings
Began ranking the economic viability of financial various institutions in
1909. They do not deem a insurance company to be superior but their highest
vote of confidence in the form of an Aaa is given to that insurer who they
find displays exceptional financial security. C is the lowest rating given
and denotes a insurance company that displays poor changes of financial
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