OnlineAutoInsurance.com has announced that the insurance regulators for the state of Colorado have released their annual report and that this document points out two critical services performed by the regulators, which are: making company-specific information relating to complaints publically available, and managing those complaints.
The report, which was made by the agency to the Colorado Legislature, provides detailed data regarding the number of consumer complaints that have been received by the Division of Insurance, and what those disputes involved. It covered the complaints that occurred from July 2010 through June 2011.
This latest report also provided information regarding the most recent complaint data connected to the top 20 auto insurers in Colorado.
Though this is useful information for people in the insurance industry, consumers who are shopping for coverage may also find the report useful in order to find out which companies have received the best ratings specifically in Colorado. This will provide them with a better overall idea regarding the customer satisfaction history that the various insurers have in the state.
The largest auto insurer in Colorado, State Farm, was also the company that had the most favorable complaint history in 2010, according to the report. It illustrated that per dollar of written premiums, State Farm experienced only 172 complaints, among premiums worth approximately $526 million. This figure shows that State Farm has a 63 percent better satisfaction record than the average of its competition.
The report also noted that the top complaint of all policyholders is still car insurance, which it has been in previous years as well.