3 Easy Steps to Find an Insurance Rating Service

An insurance rating service can help you to determine which company to choose for your insurance coverage needs. Finding a credible rating service is not too difficult and can be done with minimal effort. Follow the three easy steps below in order to find and compare insurance rating services to better accommodate your insurance requirements.

Step 1- Consider Your Options

First, you should choose several different rating services in order to compare and contrast their benefits. Consider these five major insurance rating services in your search: A.M. Best, Standard and Poor's, Moody's, Weiss Ratings Inc., and Fitch Ratings.

Step 2- Check out Each Company

Second, check out each individual rating company that you have gathered and view its website, if it has one. Be sure to consider the following questions when examining the website:

  • Does the company rate the type of insurance company you are looking for?
  • Will the company charge a fee for revealing ratings on a particular insurer? (If so, how much?)
  • How is the rating information delivered?
  • Is the rating system thoroughly explained and easy to follow?
  • What are their hours of operation?
If the company does not have a website, feel free to call the company and ask the foregoing questions to a representative.

Step 3- Choose the Right Company for You

Last, once you have finished comparing and contrasting several lenders, choose which company will best suit your needs. In general, you should choose the company that gives you the information you need concerning the insurance company you are interested in. Overall, however,you should select a company that is affordable, easy to access, and has the simplest grading system for you to understand.

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