InsuranceUSA Rating System
At InsuranceUSA we post user reviews because we believe it helps level the playing field by allowing customers to inform others about companies from which they may be considering buying insurance.
Because choosing insurance is so important, picking the wrong company or policy can often lead to an unpleasant or even disastrous result. That is why before you even think about committing to an insurance company, you should be as informed about your choices as possible.
How are InsuranceUSA ratings calculated?
InsuranceUSA’s experts have developed a special algorithm to best calculate the most fair and objective ratings for every company our customers rate. We employ four categories on which to rate insurance companies: coverage, cost, customer service, and claims.
Each category is specially weighted (noted in parenthesis) in a way we hope will give an accurate snapshot of a company’s performance and product value.
Rates how satisfied you are with your coverage and how confident you are it will protect or has protected you in case of a catastrophic event.
Rates how affordable your coverage is and whether you feel you’re getting real value for you money.
Customer Service (1.0x)
Rates how well you are treated by a company’s customer service representatives and how much a company values your business.
Rates how promptly and satisfactorily your claim was resolved.
To calculate a customer’s Overall Rating we add the categories’ weighted scores and divide by 4.
Average Overall Rating
In order to minimize negative bias, we use 2 as a baseline for a company’s Average Overall Rating, which is the average of all Overall Ratings for a particular company.
Ratings System Limitations
As with any rating system, there are inherent strengths and some notable weaknesses:
- Many customers are compelled to rate a company only after they have had a bad experience and may also be overly negative.
- Our samplings are relatively small compared to the actual number of insurance customers. With such a limited dataset, it is difficult to give a truly accurate score.
- Ratings are not intended to be the only way of selecting an insurance company. Rating systems are only intended to give someone a general idea about a particular carrier.
If you have any questions, comments or suggestions about our ratings system, please feel free to contact us.