The best car insurance companies of April 2022


Motor Insurance Rating Methodology

NerdWallet’s auto insurance ratings reward companies for their customer-focused features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, and discounts. Our ‘ease of use’ category looks at factors such as how transparent the website is and how easy it is to file a complaint. As part of our editorial discretion, we also take customer satisfaction surveys into account. These ratings are a guide, but we encourage you to shop around and compare multiple insurance quotes to find the best rate for you. NerdWallet does not receive any compensation for reviews. Read our editorial guidelines.

Insurer Complaints Methodology

NerdWallet reviewed complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2018-2020. To gauge how insurers stack up against each other, the NAIC calculates a complaints index each year for each subsidiary, measuring its share of total complaints relative to its size or share of total premiums in the industry. To assess a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by each subsidiary’s market share, over the three-year period. The ratios are determined separately for automobile, home (including tenants and condominium) and life insurance.

Average rate methodology

NerdWallet averaged the prices based on public records obtained by price analysis firm Quadrant Information Services. We looked at rates for men and women for all ZIP codes in one of the 50 states and in Washington, D.C. Although it is one of the largest insurers in the country, Liberty Mutual does not is not included in our pricing analysis due to a lack of publicly available information.

In our analysis, “good drivers” had no travel violations; a “good behavior” discount has been included for this profile. Our “good” and “poor” credit ratings are based on credit score approximations and do not take into account the proprietary rating criteria used by insurers.

These are average rates, and your rate will vary based on your personal information, state, and insurer.

The sample pilots had the following coverage limits:

$100,000 bodily injury liability insurance per person. $300,000 liability coverage for bodily injury per accident. $50,000 liability coverage for property damage per accident. $100,000 bodily injury coverage for uninsured motorists per person. $300,000 bodily injury coverage for uninsured motorists per accident. Collision damage waiver with $1,000 deductible. Full coverage with $1,000 deductible.

We used a 2019 Toyota Camry L in all cases and assumed 12,000 annual miles driven.

These are rates generated by Quadrant Information Services. Your own rates will be different.


Comments are closed.