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Tips For Choosing Your Auto Insurance Provider

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Tips for Choosing Your Auto Insurance Provider

Knowing that you are dealing with a great auto insurance company can give you some real peace of mind. The problem is one of determining which company offers the “best” car insurance, preferably at the best price. Let’s be honest, we are all different; we have different needs and expectations. We decide which company offers the best car insurance as viewed from our own paradigm.

Frankly, the real test of the quality of your insurance provider occurs when you make a claim. That’s a little too late to learn that your insurance company doesn’t live up to your expectations. There must be objective methods for selecting a provider.

The Largest

Many of us, right or wrong, equate the “best” with the “biggest” That said; let’s take a look at the 5 largest publicly held auto insurance companies in the United States.

GEICO comes in at number one based on a market capitalization (the total value of its stock) of around $350.92 billion. That number is huge, largely because GEICO is a wholly owned subsidiary of Berkshire Hathaway Inc. of Warren Buffett fame.

American International Group, Inc. is a distant second, with a market capitalization of about $81.85 billion. You may be familiar with AIG in terms of the “bailout”. AIG was identified as “too big to fail” and was “bailed out” to the tune of $182 billion.

The Travelers Companies, Inc. ranks number three with a market capitalization of just over $32.81 billion.

The Chubb

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