What does financial strength mean for insurance companies?
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When reviewing insurance companies, I look at two sites for financial strength.
- AM Best: The largest credit rating agency in the world specializing in the insurance industry.
- Demotech: The first company to have its rating process formally reviewed and accepted by Fannie Mae, Freddie Mac, and HUD.
The higher the rating, the more you can trust them to pay during an emergency. This isn’t the only factor to consider, but it’s definitely something to look into when making your insurance decision, along with real customer reviews to see how companies perform.
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