A comprehensive review is a research article that sums up past work on a topic.
Auto-Owners Insurance Co leads the pack with a MoneyGeek score of 94, thanks to its high satisfaction, affordability and full coverage scores. It also offers rare policies like diminished value and deductible modification.
1. Auto-Owners Insurance Co
Auto-Owners Insurance Group is a mutual insurance company that sells home, car and life insurance. Its policies are sold exclusively by local and independent agents in the 26 states where it operates. Buying multiple types of policies from the company can help you save. Also, paying the entire premium upfront or having a 36-month history of on-time payments can reduce your rate. Other ways to cut costs include installing smoke detectors, fire extinguishers and deadbolt locks on your home.
For car insurance, Auto-Owners rates are competitive but not the cheapest on WalletHub’s comparison. The company has a good Bankrate Score and decent J.D. Power customer satisfaction ratings, but the company’s lack of national availability and lower-than-average credit scores drag down its overall rankings.
While Auto-Owners offers all the standard auto insurance coverages, including bodily injury liability, property damage liability, medical payments and personal injury protection, it does offer several extras that other companies don’t. For example, the company’s roadside assistance policy pays for services like changing a flat tire, jump starting your battery and towing your vehicle. Other add-ons include loan/lease gap coverage, equipment breakdown insurance and diminished value coverage.
Besides auto and homeowners insurance, Auto-Owners sells renters, condo, mobile home, boat, motorhome and RV insurance as well as business insurance, workers compensation and commercial umbrella. The company’s website lets you check your policy, make payments and download documents. Its mobile app allows you to track claims and select paperless billing on the go.
2. Travelers
The Company offers car, home, life, business owners, renters, boat, yacht, valuable items, and flood insurance. Travelers also provides management and professional liability, special risk, and surety bonds.
In 1955, Travelers began offering packaged insurance plans for individuals that included multiple types of coverage. These plans included home ownership protection, which covered the cost of rebuilding a house after a fire or other disaster, as well as supplemental living expenses and personal liability.
Currently, Travelers has an A++ rating from AM Best and boasts low complaint indexes for both home and auto insurance. However, the company tends to be quite expensive for both full-coverage auto insurance and home insurance.
Travelers offers a variety of car insurance discounts, including roadside assistance and new car replacement. In addition, it offers a variety of additional coverages, such as a rental reimbursement option that pays for the cost of a rental if your vehicle is out of commission from a covered accident.
The company also has a stellar reputation in the industry, posting top marks in customer satisfaction and financial stability by leading agencies like J.D. This is why the company receives such a high score from MoneyGeek, despite its slightly higher price tag.
3. Mercury
It’s based in Los Angeles, and operates in 11 states, including Arizona, California, Florida, Georgia, Illinois, New Jersey, Nevada, Texas, Oklahoma and Virginia.
The company offers standard auto insurance coverages, including comprehensive and collision coverage, medical payments, personal injury protection and uninsured motorist coverage. It also provides rental car coverage, roadside assistance and custom parts and equipment value coverage. The company also offers a usage-based program called Snapshot, which can help drivers save money on their auto insurance premium.
Unfortunately, Mercury scores poorly in customer service. The company earned a 2.51 rating on the National Association of Insurance Commissioners complaint index, and many online reviews mention poor experiences with the company. Some of these complaints involve delays in paying claims, unexplained premium increases and bad customer service from Mercury representatives.
The company has a mobile app that lets policyholders pay bills, file claims and access their auto and home insurance coverage information. It also has a weather hub that keeps policyholders updated on the latest natural disasters and severe weather events around the country. Other popular features include scheduled personal property coverage, which increases the per-item limits of valuable items like jewelry and fine arts, and home systems protection that covers appliances and electronics. The company also has umbrella insurance, which adds to the liability coverage limit of a standard auto or home policy.
4. State Farm
State Farm is one of the largest auto insurers in the country and has a wide network of local agents. It offers a large selection of insurance policies and discount opportunities. It scored above the national average in J.D. Power’s 2023 auto insurance customer satisfaction study and above average in the home insurance study. State Farm also has a solid financial rating with an A++, or superior, from AM Best.
State Farm also offers life insurance policies including term and universal life. Its policy options and premium flexibility earned it a Bankrate Award for Best Universal Life Insurance Company. Its digital tools and nationwide agent network make it easy for customers to manage their policies anytime, anywhere.
Car insurance rates with State Farm start at around $1,139 per year on average for good drivers. You can save money by bundling your policies and getting multiple quotes before purchasing your car coverage.
While State Farm has many positives, its claims service can be hit or miss. Some customers report long wait times and difficulty with resolving disputes. It’s important to check State Farm reviews and ratings before buying a policy.
