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Spending for the Gecko – Are Large Insurer Better than Little Ones?

MoneyTips

It’s difficult to prevent advertisements from the biggest insurer and their renowned “mascots”– from the Geico gecko to the common Flo from Progressive, to the Allstate Trouble Guy. You might be questioning: with all that cash spent on marketing and sponsorships, are these business paying more attention to bring in consumers than to satisfying their needs? Would I be better off with a smaller sized insurer? The answer to that last question depends on what type of insurance you are buying, and what protection aspects are essential to you.

Regardless of the kind of insurance coverage or size of company, you will wish to consider the following:

  • Financial Score and Stability— Organizations such as A.M. Finest, Requirement and Poor’s, and Demotech appoint financial strength ratings to insurer. A stronger business remains in much better position to pay your claims in case of a mass catastrophic event. Look for a company’s rating with …

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