The New York State Insurance Department today released its 2010 Annual Ranking of Automobile Insurance Complaints showing how 167 insurers performed last year. The report is based on the number of consumer complaints the Department upheld against insurers in relation to the volume of the insurers’ businesses.

Nationwide Mutual ranks first on the report as the largest of 51 companies without a single upheld complaint. Long Island Insurance ranks 165th on the overall list and last among insurers with $1 million or more in premiums. There were 265 upheld complaints against the company.

“Consumers can use the information on this report to evaluate the performance of their insurance company. They can also use it to check the performance of other companies if they are looking for a new auto insurer. The auto insurance market in New York is competitive, so it’s always a good idea to compare prices, coverages and services,” said Insurance Superintendent James Wrynn.

The overall ranking shows that 6,808 complaints were closed in 2009 against auto insurance companies. Besides the 966 complaints upheld in favor of consumers, 3,738 complaints were withdrawn or not upheld, and 2,104 were ruled as “question of fact” cases. Question of fact disputes are not counted against insurers because the Department cannot determine the facts of these cases.

The report shows that New Yorkers spent just under $10 billion a year for car insurance.

Other highlights of the report:

• The two largest insurers are Allstate Insurance Company and GEICO General Insurance Company. Allstate wrote $1.26 billion in premiums and had 180 upheld complaints; GEICO wrote $1.22 billion in premiums and had 15 upheld complaints.

• ACE American Insurance Company, Granite State Insurance Company, Long Island Insurance, Zurich American Insurance Company and Victoria Fire & Casualty Company were the five insurers with the most upheld complaints in relation to their premiums.

The 2010 ranking is compiled using premium data from 2008 and 2009. Premium data from two years are analyzed to compensate for the fact that some complaints closed in any given year began in the previous year.

Typical consumer complaints involve monetary disputes, such as the value of a total loss, or complaints about insurance companies not renewing policies.

The ranking is posted at the following location on the Department’s website: http://www.ins.state.ny.us/arkidx.htm.

The Department’s Consumer Guide to Automobile Insurance, which offers premium comparisons and other useful information, is also available on the website.

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New Jersey Car Insurance Requirements

New Jersey state law requires minimum Bodily Injury Liability limits of $15,000 per injured person up to a total of $30,000 per accident, and Property Damage Liability coverage with a minimum limit of $5,000. This basic insurance coverage is frequently referred to as 15/30/5 coverage with 15/30 UM limits.

New Jersey Insurance Coverage:

Basic Policy
Property Damage Liability: $5,000 Limit
Personal Injury Protection: $15,000 Limit
Standard Policy
Bodily Injury Liability: $15,000/$30,000 Limit
Property Damage Liability: $5,000 Limit
Uninsured/Underinsured Motorist Bodily Injury: $15,000/$30,000 Limit
Uninsured Motorist Property Damage: $5,000 Limit
Personal Injury Protection: $15,000 Limit
*Both Basic and Standard Policies include $250,000 PIP limit for permanent or significant injury.

The state of New Jersey follows a Choice No-Fault system implying drivers may reject the No-Fault system options and retain the right to sue (Tort system) for any auto-related injury.Personal Injury Protection (PIP) helps pay for “reasonable and necessary” medical expenses for you and your passengers. New Jersey state law requires a minimum Personal Injury Protection coverage of $15,000.

To help protect against damages caused to you and your passengers by an uninsured driver, New Jersey state law requires a minimum Uninsured/Underinsured Motorist coverage of $15,000 per person up to a total of $30,000 per accident for any bodily injury caused by the uninsured and/or underinsured driver.

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