In today’s market, you can find ratings on just about anything from bath towels to auto insurance. Breakdown cover is no exception. But what do those ratings really mean and what bearing might they have on whether you want to purchase breakdown insurance coverage from that company.
Number of People Rating
The number of people rating the company can have a huge bearing on how valuable the ratings might be. If a company has a five-star rating, but only one person has reviewed it, that probably isn’t a very good indicator of the worth of the company. Or it might be a very good indicator if the person doing the rating is the first person to purchase and rate the service and their rating persuades others to purchase and rate in their turn.
A better rating is a survey return of a minimum of fifty reviewers. At that point, you are likely to have an average of all the ratings, giving a better picture of the company’s real performance.
Who Conducted the Rating Survey?
A big question when it comes to ratings is who collected the information. The best rating surveys are those conducted by independent evaluators rather than industry competitors. In the latter case, you can be fairly certain of their being a bias toward their own product.
Ratings Can Be Indicators
If you do not currently have breakdown cover and are doing a little research, the ratings, statistics and types of cover can be bewildering. Of course, as a budget conscientious person, you want to get the most for your premium dollars. You must balance the amount you will pay out against possible future need. If you are an investor, you might consider that a risk assessment. Ratings by independent evaluators can be helpful, but they don’t always on how they rate or rank companies. However, if you can find a company that is rated in the top five or even the top ten of three or more evaluators, you have a good place to start your breakdown cover research.
Cost vs. Value
Ratings often cover things like reliability and following through on a contract. When selecting your breakdown cover there are some basic things to consider.
Here is a list of possible considerations:
- Total Yearly Cost. Many companies advertise that you can get good breakdown insurance for less than eating out. That might even be true, since there are several relative terms in this statement, such as “good” and your definition of “eating out.”
- Timing of Payments. Can you pay weekly, monthly, quarterly, biannually or annually? Are there discounts for paying one or two large sums instead of a more frequent installment?
- Activities That Are Covered. There can be a wide disparity in covered items for breakdown. Possible options might include the following:
- Roadside Repairs (usually those that can easily be done in less than thirty minutes)
- Towing (Distance and some fine print here. Some companies limit the number of miles, some have caveats like “nearest repair resource” or “nearest sponsored automotive repair”)
- Possible Assistance with Large Automotive Repair Bills (Usually limited to newer cars, and might have some fine print about maintenance.)
- Regional coverage, as in country, county or city
- Distance from home
- At home coverage.
- Package Deals a la cart coverage selections.
- Personal vs. Vehicle Cover.
That is a lot of different variables to consider, and your selections can make a difference in the cost of your policy.
Do Ratings Make a Difference in Selection?
Ratings can make a difference when you begin initially comparing companies. Online regional reviews can also make a difference, but the real selection policy involves carefully reading policies.