Shopping for new auto insurance in Michigan? Recent statistics released by the Michigan Office of Financial and Insurance Regulation display the best and worst rated companies by policy holders in 2011.
Complaints most often filed where holders unhappy with how an insurer handled their claim, communication problems in general, or pricing. The basic way Michigan regulators calculate these statistics is by the insurance company's total number of complaints divided by the amount of premiums they placed that year. For example, the best rated in 2011 was Farm Bureau Mutual, with $71.5 million worth of premiums and only one complaint, their ratio is 0.01, (New Stats Show Best and Worst Michigan Insurance Companies, Ben Zitney, Online Auto Insurance News Team, http://news.onlineautoinsurance.com/companies/michigan-car-insurance-stats-97735).
Listed below are the five best and worst rated Michigan insurance companies calculated using the above formula:
BEST
1. Farm Bureau Mutual
2. Meemic
3. Safeco
4. Westfield
5. Metropolitan Group
WORST
1. Patriot General
2. Depositions
3. Dairyland
4. American Family
5. American Modern