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Is all car insurance companies the same or do they all provide the same service?

Selling car insurance policies is the prime business of car insurance companies and almost similar services are provided by all car insurance companies. On a broad perspective it comprises of issuing car insurance policies to customers and settling claims for damages and loss to personal property together with coverage for injuries arising from the incident. The types of policies that are sold by these companies are also not much different. However, some companies may not be dealing in some particular type of car insurance policies. Since the same kind of service is provided by all car insurance companies, how could one company be better than another and more like able to customers?

Service evaluation parameters

Car insurance companies are usually rated on certain service parameters like the quality of customer service, speed of settling claims, communication on the progress of claim settlement, settlement value and the satisfaction level with respect to claims settlement. The better is the overall score of a car insurance company the more popularity it enjoys among car owners.

Among all the parameters that are used for rating car insurance companies the parameters related to communication and claims are most important to customers who want to have the highest value for claims to be settled in the shortest possible time. To make customers happy, car insurance companies try their best to meet customer expectations by improving turnaround times in claim settlement to speed up the process.

Claims settlement

As soon as a claim is lodged with the insurance company, a surveyor is deputed to inspect and assess the damages that have occurred to property and people that were involved in the incident which is usually a collision or accident. Many car insurance policies have the provision for including compensation for injuries. The surveyor would talk to different parties involved and take into consideration that the legal aspects involving the role of police in the accident have been fulfilled. The surveyor’s report forms the basis for ascertaining the true extent of damages and attach a value to it.

Claim value

Next is the most important aspect – the settlement value that car insurers are interested in. It often happens that the assessment of damage done by the insurance company might not translate into the kind of value that car owners expect to recover. This happens because there can be certain exclusions in the insurance policy that reduces the value as estimated by the insured. However, car owners can expect to be paid to the maximum extent permissible in the policy. The average claims settlement value of a car insurance company reflects its claim settlement trend and can be used as an index to judge its performance.

Car insurance companies that have its own customer service instead of call centres are likely to score high in customer satisfaction. It shows that the company is much more responsive and caring to its customers and eager to communicate with them closely. The best car insurance company does not provide any different services but surely they provide the services differently that ranks them ahead of others.

Views: 220

Tags: Claims, car, companies, insurance, settlement

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