In choosing an insurance company, the most important factor is:

Question

Quizplus · Accepted Answer

The financial strength of the insurance company is the most important factor to consider since it will determine the insurer's ability to pay out claims. A financially strong insurance company has a better chance of being able to cover claims even in adverse economic conditions. Factors such as the insurer's ratings from third-party rating agencies, its liquidity, and its history of paying out claims are all indicators of its financial strength. Therefore, the financial strength should be the topmost priority when choosing an insurance company.

In Choosing an Insurance Company, the Most Important Factor Is