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Gregor McGavin Online Auto Insurance Rancho Cucamonga CA, 91730 9097842476 |
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OnlineAutoInsurance.com encourages consumers to use the reports as a tie-breaker between two comparably priced companies.
Online PR News – 05-August-2011 –Michigan’s Office of Financial and Insurance Regulation (OFIR) has released its annual report on complaints against coverage providers, a handy tool for consumers who are looking for cheap auto insurance in Michigan and who want to research particular insurers, according to OnlineAutoInsurance.com.
Regulators received nearly 3,650 coverage-related complaints in 2010, down from more than 4,000 the previous year.
More than half the consumers who complained had issues with their health or accident policies, while nearly 700 complaints involved auto coverage and more than 540 were tied to homeowner policies.
The OFIR report includes ratios of complaints filed against specific insurance companies, which are created by dividing the dollar amount of written premiums into the number of complaints on file.
Consumers can check out complaint ratios for companies statewide that wrote more than $1 million in annual premiums. The statistics are broken down by coverage category over the past four years.
Source: http://1.usa.gov/pqckb9
Officials stressed that, while these ratios are one factor that people can consider in choosing a provider, the fact that someone complains about a company doesn’t necessarily mean there has been any wrongdoing.
The state agency says other factors should be taken into account in comparing providers, including:
--Premiums charged
--Benefits provided
--Financial stability
--Quality of service
OFIR officials said policyholders should contact their agent or insurance provider directly before filing a complaint.
Of last year’s complaints, nearly half (49 percent) involved claim handling, while 28 percent were related to customer service and 14 percent to underwriting.
Tracking consumer complaints is just one of the services provided by regulators in Michigan and other states.
State regulatory agencies oversee carriers, help work out disputes between consumers and companies and recover money for policyholders that they might otherwise never see.
To read more about this and other coverage issues, go to http://www.onlineautoinsurance.com/michigan/ where you will find informative resource pages and a free-to-use quote-comparison generator.
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