Exploring Arizona’s Top Insurance Companies
The insurance industry is a vital part of the financial services sector, protecting consumers from various financial risks and uncertainties. However, choosing an insurer that offers high quality services can be a difficult task.
Auto-Owners Insurance Co is a top choice for car insurance in Arizona, scoring a MoneyGeek score of 93. It provides essential coverages like diminished value and personal automobile plus, while its high satisfaction and claims handling scores further enhance its appeal.
1. Auto-Owners Insurance Co
Auto-Owners is known as The People’s Choice and has been in business since 1916. It offers home, auto and life insurance. It sells its policies through independent agents across 26 states. It has an excellent customer service rating, according to J.D. Power, and has competitive pricing.
Its rates depend on factors such as age, driving record and address. It also takes into account credit score and vehicle type. Its rates are higher than average for drivers with a DUI or other serious driving violations. However, it does offer a good discount for teen drivers.
Like most car insurance companies, Auto-Owners provides standard auto policy coverage types as well as several other optional endorsements. These include roadside assistance insurance that pays for towing, battery jump-starts, locksmith services and refueling. It also covers additional expense coverage and diminished value coverage for your car.
The company also sells renters, condominium and umbrella insurance policies. It can even cover your personal boat or motorcycle. It can also help you get National Flood Insurance if your area is prone to flooding and can extend your auto policy to cover a rental vehicle in the event of an accident with another Auto-Owners driver.
The company’s most widely available discounts are bundling, multiple-car, safe driving and anti-theft system. It can also provide a number of unique discounts such as early signing and paperless billing.
2. Travelers
Travelers offers a wide variety of insurance policies, including auto, home, rental car, boat and yacht. The company also provides supplemental coverage like valuables, wedding and travel protection. Travelers has been an industry leader for over a century and was the first to offer accident insurance in the US.
In 1902 the company set up a branch office system, allowing agents to concentrate on selling. The system was successful and soon Travelers had offices across the country.
During World War I the company offered special life-insurance war riders. During this period the company was forced to adjust to societal changes as crime increased, traffic accidents skyrocketed and court settlements were higher.
In 1974 Travelers reorganized its departments, splitting the property and casualty division into personal and commercial lines. Earnings for the property and casualty department bottomed out in 1974, but rebounded in 1976.
Today, Travelers has an excellent insurance industry reputation and is rated A++ by AM Best. Its claims processing and customer service are ranked very high by J.D. Power and the company has an above average score in WalletHub?s insurance shopping study. However, Travelers rates are not among the lowest in Arizona or in the nation. The company has an extensive network of independent agents and offers a variety of discounts, including safe driving, new vehicle discount and a discount for signing up for its IntelliDrive telematics program.
3. Mercury
Mercury is a multiple-line insurance provider that primarily focuses on auto and home insurance. The company serves customers in Arizona, California, Florida, Georgia, Illinois, Nevada, Oklahoma, Texas and Virginia.
Customers who buy auto insurance from Mercury get standard coverage and a few add-ons, such as roadside assistance, personal property replacement coverage and SR-22 insurance. The insurer offers a bill pay app and a 1-800 number for customer service. The company also has a holistic website for its customers to find local agents, make payments and learn more about their policy options.
In WalletHub’s pricing study, Mercury scored a below average score for cost. However, its premiums are in the second quartile of the cheapest car insurance providers.
Its grade may reflect delays in settling claims and not encouraging repair methods recommended by car manufacturers.
Mercury gets close to the expected number of complaints about auto insurance to state regulators relative to its size, according to three years of data from the National Association of Insurance Commissioners. The company has a unique usage-based driving app, MercuryGo, that might offer insurance discounts based on how you drive your car. It also offers a multi-policy discount for customers who bundle auto and homeowners insurance policies with the insurer.
4. Progressive
Progressive is known for its modern approach to insurance, which includes a number of innovations. It has a long list of discounts and allows customers to customize their policy. It offers a discount for safe driving and has Snapshot, an app that tracks a driver’s driving habits. It also provides a free roadside assistance service and a new car replacement feature that replaces a totaled vehicle with a brand-new version of the same model.
In addition to auto insurance, Progressive offers other types of personal lines insurance including homeowners, boat and recreational vehicle, personal umbrella and commercial automobile insurance. The company sells its policies directly to consumers and through independent agents.
The company has a good reputation for customer service and receives lower numbers of complaints than other top insurers. It is among the few companies to have a dedicated call center for customers with questions or concerns.
They aimed to provide affordable auto insurance to blue-collar drivers who couldn’t afford the expensive premiums of their competitors. Today, the company is one of the largest and most widely known providers of personal automobile insurance in the country. It has also embraced technology with mobile apps, virtual assistants and other innovative tools that make it easy for consumers to access information and manage their policies.