Since 1899 A.M. Best has been following the financial health of insurance carriers. This is the oldest and considered the most used when it comes to companies that rate the industry. They have offices around the world because they don't just rate American based insurance companies, A.M. Best rates insurance companies from all parts of the world.
Demotech is the new kid on the block. Since 1985 this company has been rating property & casualty insurance companies. Demotech uses what they call their trademarked Financial Stability Ratings which looks the solvency of insurance carriers by analyzing their balance sheets.
Most important to us, both of these rating companies are independent. We also depend on the insurance departments in all fifty states to provide their assessment of an insurance carrier. The insurance commissioners in each state belong to a national association, the National Association of Insurance Commissioners and they do an outstanding job monitoring the insurance industry and raising red flags when they spot a problem.
The ratings for some of our insurance carriers are as follows:
Hartford Fire Insurance Company - A.M. Best A+ ( Superior) 6/17/2016
Travelers P&C Insurance Company - A.M. Best A++ ( Superior) 7/22/2016
Safeco Insurance Co of America - A.M. Best A ( Excellent) 3/8/2017
St Johns Insurance Companies, Inc. - Demotech A (Exceptional) 3/10/2017
Gulfstream Property & Casualty Insurance Company - Demotech A (Exceptional) 3/10/2017
Lighthouse Property Insurance Company - Demotech A (Exceptional) 3/20/2017
Homeowners of America Insurance Company - Demotech A (Exceptional) 11/15/2016
Federated National Insurance Company - Demotech A (Exceptional) 3/10/2017
Centauri Specialty Insurance Company - Demotech A (Exceptional) 3/20/2017
ASI (American Strategic Insurance) - A.M. Best A ( Excellent) 2/11/2016
Main Street America Assurance Co - A.M. Best A ( Excellent) 12/2/2016
Liberty Mutual Insurance Company - A.M. Best A ( Excellent) 3/8/2017
Universal Property & Casualty - Demotech A (Exceptional) 3/10/2017
By no means is this list complete. There are hundreds of insurance companies that we can access as direct agents for the company or as a broker. If you ask, we can provide you with the most up to date rating from A.M. Best or Demotech. You can also access the ratings by searching for it on the internet. Many of the large insurance companies like The Hartford have many companies within their group and each one is rated which makes this more complicated. As you can see from the limited list above, all of these companies are top rated insurance companies with an Excellent, Exceptional or Superior rating.