The Best Insurance Companies and Worst Insurance Companies articles have been updated!

However, we're keeping this older "Best Insurance Companies" article online for your reference. Thanks for reading!

           While it was relatively easily to pick those insurance companies to include in our “Worst Insurance Companies—2007” list, it was much more difficult to decide on five insurance companies to include in our “best” category.  In the first place, insurance companies, by their very nature, are not likely to endear themselves to a personal injury law firm or its clients.  We might note here for the record that the STREET LAW FIRM does not accept any compensation of any kind from any individual or insurance company to influence our endorsement.  The insurance companies on our “best” list are there solely because, in our experience, they are more likely to be fair than those not on our list (and infinitely more fair than those on our “worst” list).  Secondly, the essence of insurance is to take in premiums and not pay out benefits—hardly the way to win any popularity contests.  That’s why this is not a popularity contest (we have not adopted anybody else’s opinion as our own) but is instead a compendium of our own experiences.  Thirdly, almost all research one is likely to find regarding “best” insurance companies is based solely on price.  As we discussed at length in our “worst insurance companies” article, price is among the least important factors (though, admittedly, it is the one most consumers rely on almost exclusively in making their choice of an insurance carrier).  (For those of you who may not have read our “worst insurance companies” article, the one factor one should consider in choosing an insurance company is how likely is this insurance company to pay when I need them to.  As we pointed out in our article, there is no agency, group, or web site anywhere of which we are aware that compiles facts on this all-important statistic.  We’ve tried to do that for you in our article.)

Finally, it was just darn hard to find five “best” insurance companies.  But here they are, based on our 25 years of experience in personal injury and wrongful death litigation:

1.  AMICA MUTUAL--Based in Lincoln, Rhode Island, Amica has actually been around for almost 100 years, yet few people have heard of it.  Those who have, however, seem to like it:  94% of its customers renew after the first year, and fully 1/3 of its policyholders are still with Amica after 20 years.  Even though Amica enjoys an A++ rating by A. M. Best Company (the strongest rating given), it is not in the top 10 insurance companies in size.  That’s a shame because, being a “mutual” company, it is owned by its policyholders and, we’ve found, employs the fairest, most even-handed claims-settlement practices in the industry.  The adjusters are professional, know their business, and treat us with courtesy and respect.  It is always a pleasure negotiating claims with Amica and, for all these reasons, Amica is our top choice for “Best Insurance Companies—2007.”
2. CHUBB CORPORATION—First established as a marine underwriting company in 1882 by Thomas Chubb and his son, Percy, “Chubb & Son” has grown into one of the top ten publicly-traded insurance companies on the New York Stock Exchange.  Now called The Chubb Corporation, Chubb has more than $44,000,000,000 in assets and writes insurance for automobiles, homes, and business properties.  While not having a large presence in Texas, we have found that the adjusters at Chubb (perhaps because they aren’t a predominant force in Texas) consistently adjust claims fairly and accurately.  They are as different from Allstate and Farmers as night is from day.  Instead of seeing how much they can cheat the claimant, they instead seem genuinely interested in reaching a just settlement.  Because dealing with Chubb is usually a positive experience for our clients, Chubb is our number two choice for “Best Insurance Companies—2007.”
3. WAUSAU—You may remember Wausau from its funny name (the one most people pronounce “War-Sore”) or from its commercials years ago, usually during college football games.  First established in Wausau, Wisconsin, in 1911, Wausau originally wrote only workers’ compensation insurance (then know as “workman’s comp” before political correctness came into vogue).  In 1999 Wausau became affiliated with the mammoth Liberty Mutual Insurance Group, thereby extending its reach into all 50 states.  While still a leader in workers’ compensation insurance, Wausau now writes automobile and general liability insurance.  We have found that the adjusters who work for Wausau conduct themselves with dignity and class and they treat claimants and their attorneys with equal respect.
4. TRAVELERS—Founded in 1864, later merging with St. Paul Insurance, and now known as St. Paul Travelers, our fourth choice for “best” has only about six million policies nationwide, so you are not likely to (literally) run into one of their insureds.  But, if it’s the other way around and they run into you, at least you will know that St. Paul Travelers has a reputation for fair claims settlement practices.  We have found them to pay consistently more often and in higher amounts than most insurers.  Because of that, their insureds are less likely to get sued by law firms like us—which makes St. Paul Travelers a good choice for you.
5. USAA—This was a tough one.  USAA, based in San Antonio, is a huge insurance company, but it only writes insurance for “members,” which includes only active duty military personnel; former spouses and adult children of USAA members; National Guard and reservists; and candidates in commissioning programs such as ROTC, the Naval Academy, etc.  Also, while USAA in years past paid more and without us having to threaten lawsuits to obtain settlements, they have definitely tightened up on the money in recent years in response to “tort reform” and its effects on juries.  Even so, USAA still pays more money on a more consistent basis than almost any other large insurer.  Because of this, USAA makes our list as the number five “best.”

 Well, there you have it:  five insurance companies that we have found give you the most bang-for-the-buck.  None of them gives money away (what insurance company does?), but we have found these five to at least attempt to be fair and honest in their claims-adjusting practices.  It is for this reason alone that you should switch to one of these five for your liability insurance needs.