Since we started this blog in July, 2017, we have been privileged to work with a couple of insurance companies, agencies and some independent insurance agents, directly and indirectly. A good number of them include, Hagerty Insurance, Mastermind Insurance Copywriting, etc.
Our team has also invested so much in checking out how some of these insurance companies operate and what you should expect when you want to hire their service.
Some of the companies we surveyed performed above average while some failed flat-down in so many areas that we are still questioning why the National Association of Insurance Commissioners, an insurance regulatory body in the United States are yet to do a thing about it.
A good number of these insurance companies can do anything just to ensure you don’t get paid your insurance claim or as at when due.
If we allow this to continue without letting our readers to know what’s happening in the industry, it’s certain they will hate us for that. This is because in the last couple of months, we’ve been able to build credibility for ourselves as an unbiased top insurance blog.
So today, we shall be revealing to you 3 insurance companies you MUST avoid like a plague at all cost. They have anything to do with them and don’t recommend them. If you do, your friend will hate you if they realized you read this post from a topnotch insurance blog like this and still went ahead to recommend it.
So here we go.
Insurance Companies To Avoid At All Cost
1. Insurance Companies with Lots of Negative Reviews
When we talked about how to choose a life insurance plan and how to choose an affordable auto or car insurance quote, great emphasis was made on negative reviews.
If an insurance company has loads of negative reviews, it’s an indication that they don’t know jack about the insurance industry. They are probably still living in the wood. So, it’s in your best interest to avoid such insurance agency until they fix their flaws.
But how do you know if an insurance company have negative reviews? Get on social media, check publications and most importantly ask a trusted family or friend whose decision on such issue will be unbiased.
2. Insurance Companies with Zero Track Record of Excellence
Excellence is the hallmark of the insurance industry. In fact, it’s the secret behind most successful insurance companies. Any insurance firm that is not ready to play by that rule has already disqualified themselves from getting a ton of clients to be interested in their offer.
Before you buy their insurance, check their records of excellence to be sure they have experience and has maintained a culture of being consistent in delivering value.
Finding the best company to buy insurance policy from can be very difficult by checking their track record in terms of experience, history, reviews, financial stability, service record, claim settlement ratio, etc.
Don’t get sold by their marketing and advertising gimmicks. Go through their record to be sure they have the best insurance plan that will accommodate your need.
3. Insurance Companies That Don’t Respond When You File Your Insurance Claim
How fast do they settle insurance claims?
Before choosing any insurance company, you must ensure that you have checked their claim settlement ratio. This is the number of claims settled by the insurance company as against the total number of claims that were filed by policyholders. Learn about different kinds of insurance frauds else they accuse you of any.
Avoid in its totality any insurance company with a poor percentage of claims settlement. Such insurance company must be avoided like a plague. The reason is because the risk of rejecting your own claims in the future is also high.