Top 5 insurance companies for 2020 | What makes them special?

hey guys mark Flockhart today we're

gonna go through the top 5 insurance

companies in the US based off of three

major players we're gonna use JD Power

as the primary we're gonna use because they had thousands

and thousands and hundreds of thousands

of reviews and then we're also going to

use a company called bank rate now bank

rate is a major player because they do a

lot of financial stuff and by doing that

they do a lot of insurance as well so

we're gonna use their data you will be

very shocked on how different these

answers are between which companies were

the best and which ones weren't that

just leads you to believe that you've

really got to get some advice from

friends family agents in your area

because once again each area is

different that you go into where

Michigan may have Allstate as the best

company this year it might be the

opposite in Florida where they're the

worst ones so it really just depends on

your location your zone as they're

calling it it used to be zip code but

now it's territories so to speak so

let's dive right into it now the thing

is my camera is kind of messed up today

I couldn't get the audio working I got

like a cord I have tons of cord just

hanging out here so bear with me if you

like the video definitely give me a

thumbs up subscribe if you want to be

part of this advice channel that I'm

giving for insurance but I'm gonna be

looking to my left a lot because I

actually decided to hook it up to my

monitor so now hopefully the auto is

good I got my auto here my monitor yeah

okay well let's dive into it the first

thing I'm gonna go through is and I'm

gonna show you screenshots here is JD

power so there's some stuff that they

asked us in here that most people don't

see and I'm gonna go through the top

couple companies with you specifically

and show you why they thought they were

the best so number five is state farms

they're the largest player in this

entire industry of insurance right

through the u.s. they control the major

portion of the market if there was one

company that's standing on top of them

all that's gonna be State Farm there's

not really anything unique or specific

about them what they do is they pick

large areas that they want to control

and they drop the prices really really

low so they pull in a lot of business as

you guys saw and there's actually a

video I made that kind of mentioned it

but they had lost several billion

dollars a few years back that hurt him

pretty bad so they kind of stumbled and

got back up

there's still the largest guys they're

still gonna be huge they really have a

huge control on the market they have

really good prices their agents are what

make them more successful they're huge

with agents there are only exclusive so

you're not going to find a State Farm

agent selling safeco you're not going to

find a State Farm agent selling Triple A

where I work with Safeco Triple A

citizens Michigan insurance all those

guys like I've got 17 companies that we

work with and I'm not trying to sell you

guys on us or me because it's not the

point of this whole channel but number

five is State Farm great large company

number four is Geico gecko is its own

animal they're the online the digital

the kind of the tech huge commercials

there's not once again not anything

specific that sets them apart from

everybody it's just a large company has

huge market rates these guys do more

commercials than anybody I've ever seen

and it stands for a government employee

insurance company and what that is is

it's changed so it used to be only for

government employees and now it's kind

of opened up to the public it's been

that way for several years in a long


but that's just where they came from

great company large company they're very

hard to beat especially in some areas

some of those higher risk areas like

Florida some of those near Miami areas

they tend to come in more competitive so

that's kind of like a go-to place

they're more of a standard company /

non-standard or non preferred company

where they'll take in a lot of different

business I am in Michigan and they don't

like to insure in Michigan I've tried to

do a quote for you guys and I'll make

another video on that but let long story

short they're kind of they're making it

difficult extremely difficult to get a

well good company large companies

similar to a farm they're more of an

online presence larger commercials they

advertise so naturally they get a lot

more business now this is mainly based

on customer satisfaction so they

actually got rated really well as far as

satisfaction goes as well so they're not

just pulling people in the door they are

helping service them as well when

there's claims and things like that

number three is Erie insurance your

insurance you just don't hear a lot

about them they're a lot like Geico

they're very very similar to Geico big

online presence more digital kind of

like the younger groups that's really

just their size of a business

I didn't really see anything specific

also that sets them apart so in this

world car insurance is car insurance

there's not a whole lot to depict when

you're kind of getting into that

industry where it's not really including

the home as much

yeah sure Geico is gonna be really good

for you eery insurance is gonna be good

for you and I say that not that they

don't do home it's just in in some areas

they just haven't touched that portion

of it they're good in the auto industry

but not as great in the home industry

and this is the part where you guys can

help me because I don't do a lot of

eerie and maybe we'll do a video on them

I don't deal a lot with Erie Insurance I

almost never see them I'm in Michigan so

it's almost rare that we see them at all

I don't even think they're in Michigan

let me know in the comments below what

state are you in

and if you're with Erie or guy Co do you

have your home insurance with them I'm

very curious if you do if you do maybe

give us some details let us know where

they competitive not competitive have

you been with them for ten years two

years to kind of give us an idea of what

what experience you guys have had with

either Geico or Erie Insurance number

two and I put an asterisk next to this

is because there are two other companies

that were missing in this list and I'll

explain that here in just a moment but

this company is called country financial

I'm gonna go in more depth with them

here in just a moment so if you want to

learn why they're on top then we're

gonna go through that and the number one

company which I'm also going to go

through the reasons that they're so big

and so great rated Corey rated and the

reason that's they're so highly rated is

gonna be a mica insurance

I think it's a mica or a backup I've

never really heard anyone say it but

I've heard of them they're a very small

company to me even though they have a

large footprint but they just don't have

a lot of presence in Michigan although

they are one of the few companies that

has come close to the insurance price

that I'm paying so also an option so the

two companies that are missing out of

this report which actually are beating

both all of these companies is gonna be

USAA and New Jersey manufacturers the

reason that they're excluded from these

reports and this is from JD power is

that USAA is only government you have to

be a government person or have a family

member that's part of the government in

order to join them they're a group

system so you can't get in the door

whatsoever however I will tell

you that I've got a new guy that I'm

training he just sold two policies save

the guy from USAA about $1,000 it's not

that's every case of just telling ya

nobody's unbeatable right so USA a very

very good company they are one of my

favorite as far as a company goes as far

as like satisfaction I've heard a lot of

good things about them they're very

difficult to beat in price although this

year seems to be changing quite a bit

especially in Michigan and then the next

one was gonna be New Jersey

manufacturers and that's pretty obvious

they only do New Jersey there are a

group it's company they only do one

specific area not enough data to rate

against them but they are one of the

highest rated in as far as customer

satisfaction the best rated companies in

New Jersey so why Amica why are they

listed as the top company and you can

learn more if you do I know the video

that I made was 2017 but it also was

Amica New Jersey and I believe country

financial I think was also in there too

those guys were doing really good then

as well and they're still doing good

today so if you want to learn more

specifics I've really dug in to very

very needy details in that video but in

this one I was looking specifically Auto

what makes them unique compared to just

why don't I just get auto insurance

anywhere else so the things that make

you Amica unique these are the notes

that I took is they have free lock

replacement for lost keys they do free

repair for damaged glass and they have

an asterisk next to that because there's

deductibles if you have it yeah you can

read it if you want to free repair if it

deploys the airbag that's pretty cool

no depreciation for a complete loss of a

new vehicle so there's like a package

that they offer lost wage reimbursement

which most places do and they do $1,000

for bill months so not a lot of

companies are doing the bail buttons

anymore that's called their platinum

auto choice that includes identity fraud

so it monitors your Dennett II if

someone steals your credit files they

you get notified within 24 hours of a

breach if you get a need assistance so

they're not paying to fix your credit

they're just kind of monitoring it just

like your credit card does it's not a

whole lot of difference it's just

they're gonna notify you quicker so at

this point definitely like subscribe all

that stuff I'm gonna move into the next

company which is and the


did them was because they have probably

the most knowledge as far as like what

people think of companies the general

decision I wanted to get some more

opinions they are very powerful they are

very good they're usually accurate but I

just want to make sure we're not giving

you some false information so what we've

got here says USA a very similar so

they're actually ranking them

we've got GEICO insurance also they're

State Farm is third their best for right

share drivers they say they say Geico is

best for digital USAA is best for

military members and veterans great and

then they say progressive is in there

that's pretty cool I just did a video

where I I ranked them number one for me

as far as my area best for discounts

they do have a lot of good discounts in

the nationwide who actually work with

that's awesome

best for coverage options so USAA got a

four point three out of five the part

where they failed was their coverage I

agree that's where I didn't like them

Geico got a 4.0 where they failed the

most is kind of a tie between customer

experience and and coverage so a 3.5 out

of 5 not not horrible

steep farm I don't know why they're in

there cuz they only got a 3.8 overall oh

well yeah everyone else did worse so I

think they failed at the coverage able

as well so ok great progressive got a

3.7 their lowest point was customer

experience at 3.1 so not the best

customer experience but they're large so

I can see that nationwide 3.5 and there

also was the pricing so yes and I agree

there are some spots where the pricing

isn't perfect and if we want to go one

further Safeco and then travelers and

then farmers those guys are the next

three best rate ones okay guys this has

been way too long I'm sorry if you stay

to the end put a hashtag stayed and

we're gonna celebrate let me know what

video you want me to make next cuz its

thank you for watching this what we're

gonna do next is I want you guys to do

me a favor if you want more details on

these companies put in the comments

below but watch the other one that I did

in 2017 because it's not much different

between then to now what I think is

going to happen going forward what's

good you're gonna start seeing is these

large companies like State Farm and

Allstate you're gonna see them do one of

two things

I think either a they're gonna leave

their agent only model and they're gonna

open up the doors for all these

independent agents to come in and start

using their product and selling their

product or B they're gonna create their

own digital models so you've seen it

happen a lot allstate has assurance you

know farmers has twenty four century

Liberty Mutual has Safeco so each guys

is creating their own models but I think

you're gonna see that change and that's

gonna make a big difference because what

that's gonna do is draw on some

different type of risks so how do they

change their model without changing the

type of customer they're looking for I

don't think there's really an easy way

to do that so it's interesting to see in

the next three to five years what

happens as we start getting autonomous

cars coming out and people are either

getting more accidents or less accidents

we don't know if there's a recession if

that takes place this whole thing is

gonna change I think within this decade

it's gonna be completely different than

it is today I think what I'm gonna do is

ten years from now I'm gonna be sitting

here saying hey guys

yeah state farms no longer a number one

they're number twelve because either a

they didn't switch their model and they

just couldn't survive or the independent

agents are just taken force this is no

longer just a ranking on companies this

is a ranking on independent agencies

because these guys are taking in 10 to

15 companies and if you're looking for

westfield or wolverine or some of those

smaller companies that just have that

local touch you're gonna be able to get

that options anyways guys I hope you

liked it share with anyone you think

would get good advice out of this thumbs

up subscribe if you want to have more I

will see you guys in the next one