No-name insurance companies
Hey Team,
We all know the better known property insurance companies; Allstate, GEICO, etc. Having said that there are a series of lesser known insurance companies. Some are part of a larger holding company (e.g. Berkshire Hathaway) sometimes not. Assuming a "no-name" or lesser known company has a strong AM Best Rating are they as likely to approve a claim as a better known company? I understand AM Best speaks to a company's financial strength but how to think about lesser known companies and their propensity to pay out?
Thanks in advance for your thoughts.