How to check a financial strength rating with AM Best.
It is extremely important that people check the Financial Strength Rating every time that the consider buying any form of insurance.
There are three large national credit rating agencies plus one specialty rater (AM Best) that issue Financial Strength Ratings.
The Three National Credit Rating Agencies are: Moodys, Fitchs, and S&P. AM Best is a specialty rating agency that focuses on insurance companies.
Watch the following video to see how you check a Financial Strength Rating with AM Best.
Best Practices for Checking Financial Strength Ratings:
- Compare Apples to Apples (Same Credit Rating Agency for two different Insurance Companies.)
- Check Two or More FSRs (Financial Strength Ratings.)
- Do not trust old or dated material such as websites to provide this information accuratley
- The FSR does matter.
- All Insurance companies should be checked, Life, Business, Home, Auto, Umbrella.