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How to Select an Insurance Company

 

When selecting an insurance company, it is wise to know that company’s financial rating. Several organizations publish insurance company ratings and resources are available in your local library and on the internet. These organizations include: A.M. Best Company, Standard & Poor’s, Weiss Ratings Inc., Moody’s Investors Service, Demotech and Duff & Phelps. Companies are rated on a number of elements, such as financial data (including assets and liabilities), management operations and the company’s history.

Before buying insurance, verify whether a company is licensed to sell insurance in Florida by calling the DFS Consumer Helpline toll-free at 1-877-MY-FL-CFO (1-877-693- 5236). Be sure to have the full, legal name of the insurance company when you call.