While it is important to make sure you can afford an insurance plan, it is equally important to make sure an insurance company will be able to pay you if need be. Check potential insurance companies' credit ratings and whether any recently had to pay out large sums of money. You can find the ratings online at websites like insure.com. To learn about recent payouts that an insurance company has made, a quick Google search should be able to pull up any recent news of a potential provider. Or you can call and ask customer service.
In addition to financial stability, look into the insurance company’s customer service ratings. You can do this by reading consumer ratings, inquiring through an independent insurance broker, and talking with family and friends. Start by looking at evaluations from sites like J.D. Power and Associates and comparison articles from leading business publications, like Forbes.com.
