How Motley Fool Money Rates Insurance
Updated
At The Motley Fool, we take our mission to make the world smarter, happier, and richer very seriously. That includes making sure the insurance products we feature on Motley Fool Money are heavily vetted by our team of experts, so you can feel confident the picks on our site are fantastic choices for most people.
Our insurance rating philosophy
When rating insurance products, we consider the most important features for the average user. Our core objectives for our recommended selections are:
- Editorially independent (NOT influenced by partners)
- Easy to understand
- Scoring is weighted, and scaled to 5 stars
How we score insurance products
Insurance products are then rated on a scale of one to five stars, primarily focusing on:
Pricing
With so many options for insurance across the board these days, it's easiest, and quite effective, to first look at the bottom line. Do single out competitive prices across insurance categories it's important to focus on:
- Deductibles
- Terms
- Coverage
- The fine print
Discounts
Insurance provides coverage for unexpected financial burdens and piece of mind. But it's important to check your policies and see how you can lower your premium. Insurance companies offer discounts for all sorts of things now from safe driving to good grades to automatic bill pay. Pay attention to:
- Discounts offered
- Variety of discounts
- Discount qualifications
Perks and Benefits
The benefits of insurance these days have gone far beyond just what your policy covers. Most companies and policies come with perks -- some of which may be completely unrelated to your insurance policy. Take a look at:
- Non-pricing related perks offered
- Benefits unrelated to your coverage
- Perks that stand out in the industry
- Will you actually use the benefit?
Customer Service/Claims Process
Policy research and coverage options are great, but how is the process when you have to actually use your insurance policy? The best coverage doesn't hold much value if it's a hassle to get paid out. We pay special attention to:
- How hard it is to file a claim
- If your provider has a history of resisting payouts
- The customer satisfaction scores of providers
Share This Page
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page.
The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.