How can an individual determine how reliable or likely an insurance company is to pay on their claims? I'm trying to balance two things here - cost of premiums and reliability of paying claims. I have second hand knowledge from a person that I trust that some companies (such as American Family Insurance) may have vary unscrupulous practices to "reduce their costs" which involve dragging out legal matters.
I have used a number of different car insurances in the past, but now as a homeowner, I have to insure the following:
- my home
- my car
- my wife's car
- my wife's wedding ring
Ideally I'd like to find reasonably inexpensive insurance for all of these things under one roof. Any suggestions on the best way to find the best value (lowest cost for highest chance of paying without a whole lot of paperwork)?
I'm not just looking for recommendations here (they are appreciated) but the process that an individual can go through to determine if an insurance company is scrupulous.