Saving You Money For Life

In the State of Washington, consumers shopping for health, auto or homeowners insurance have a new tool to compare insurance firms before they buy policies. The Washington State Office of the Insurance Commissioner announced in October that they have developed a comparative database on companies licensed to sell insurance in the state.

The database shows the number of complaints filed against each individual insurer and incorporates those figures into a comparison that includes each company’s market share and premium volumes. The data – covering 2003-2005 – can be searched online at https://fortress.wa.gov/oic/complaints/.

The guide provides its data in relatively passive fashion. It does not disclose the nature of the complaints or whether they were substantiated by an investigation. It essentially provides raw data that allows the consumer to get a sense of relative satisfaction among the firm’s existing customer base. The guide’s complaint index shows whether a company has more complaints than average. According to the state Insurance Commissioner, his office receives more than two thousand inquiries a week from consumers.

Washington is not the only state that provides this service; it may be among the few that index complaint levels against each insurer’s level of activity in the state and total customer base. In many states the insurance departments will provide complaint logs, but they are just that – logs – and are buried on a government website.

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