Direct answer
Yes, it matters significantly because a high financial strength rating indicates the insurer has the liquidity to pay out claims decades into the future. It depends on the specific agency, but generally, you should prioritize carriers with an ‘A’ rating or higher to ensure long-term stability.
Independent financial strength ratings from agencies like A.M. Best, Moody’s, or Standard & Poor’s provide an assessment of an insurer’s ability to meet ongoing insurance obligations. For additional information about how these ratings help assess insurer stability, see the National Association of Insurance Commissioners‘ consumer resources.
What this means for you
Yes, it matters significantly because a high financial strength rating indicates the insurer has the liquidity to pay out claims decades into the future. It depends on the specific agency, but generally, you should prioritize carriers with an ‘A’ rating or higher to ensure long-term stability.
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