Father’s Day 2007 in Intensive Care Leads to Insurance Transparency in 2017
BEDFORD, NH – June 15, 2017 – ValChoice®, the first company to bring transparency to auto insurance, today introduced a new home insurance grading system that rates insurance companies on the three most important things consumers care about: price, protection (claims handling) and service. This service comes at a critical time for consumers given that since 2000, average home insurance prices have increased 21% faster than the personal contribution to health care, and increased nearly four times faster than median family income.
Building on the proven analytical capabilities of the ValChoice auto insurance grading system, this new service will enable every consumer to download a free report on their home insurance company or one they are thinking of trusting for their insurance protection needs. If they find out a company scores poorly, ValChoice provides additional report cards identifying the best home insurance companies in their state. Consumers can access their free ValChoice insurance company report cards at this link.
“After being hit by a car, I spent Father’s Day 2007 in intensive care and soon after found myself personally responsible for $84K of medical bills that insurance companies refused to pay,” said Dan Karr, Founder and CEO of ValChoice. “I founded ValChoice to prevent this from happening to anyone else and on the 10 year anniversary of my accident, I am proud to be expanding our business to now include a home insurance grading system.”
Insurance is one of the last remaining opaque markets. Even with large amounts of data collected on the performance of insurance companies, until now, consumers have had no way of knowing which companies are best at honoring the promise to protect them. Only transparency can solve this problem. Delivering this transparency is the mission of ValChoice.
ValChoice® is the only company to provide consumers, agents and advisors with information on which home and auto insurance companies offer the best value: price, protection (claims handling) and service. The company’s analytics platform collects and analyzes millions of financial and complaint data points and delivers the results in an easy-to-use service that Forbes Magazine describe as “Carfax for insurance.” Using ValChoice, consumers are finally able to shop for insurance based on value rather than making decisions blindly based on price or advertising campaigns.