Auto-Homeowners Auto Insurance coverage Evaluation 2022


Execs Defined 

  • Unique applications: Auto-Homeowners combines multi-faceted auto insurance coverage with inexpensive premiums by means of applications like its Private Vehicle Plus Bundle and Buy Worth Assure.
  • Constantly sturdy monetary scores: For 49 years in a row, Auto-Homeowners has acquired AM Greatest’s prime ranking for monetary energy.
  • A number of reductions: Auto-Homeowners provides prolonged insurance coverage safety with 13 reductions that can assist you save.


Cons Defined

  • Quotes from brokers solely: Auto-Homeowners automotive insurance coverage quotes are solely out there by way of brokers.
  • Restricted service space: Not everyone seems to be eligible for auto insurance coverage from Auto-Homeowners, with service restricted to simply 26 states. 
  • No on-line chat: Assist choices are restricted to cellphone and agent assist with no on-line chat choice.


Introduction

Auto-Homeowners Insurance coverage Group is a Fortune 500 mutual insurance coverage enterprise consisting of quite a few firms, together with Atlantic Casualty Insurance coverage Firm, Harmony Group Insurance coverage Firms, and Capital Insurance coverage Group.

Auto-Homeowners insures a number of sorts of automobiles, together with bikes, motorhomes, RVs, boats, trailers, and ATVs. There are additionally many different sorts of insurance coverage out there, akin to owners, pet, flood, and life insurance coverage, in addition to a full line of economic merchandise. 



Firm Overview

Auto-Homeowners was established in 1916 by Vern V. Moulton and 4 of his associates. Headquartered in Lansing, Michigan, as we speak Auto-Homeowners Insurance coverage Group has 48,000 licensed brokers to assist in 26 states. Auto-Homeowners is well-known for its customer support, and has additionally been awarded a certification from Nice Place to Work®.

Auto-Homeowners began out with simply auto insurance coverage and commenced branching out into life insurance coverage and different sorts of protection in 1966. Its 2020 Annual Report exhibits over 5.35 million insurance policies in pressure with policyholder surplus topping $13.8 billion. 

Auto-Homeowners operates in 26 states with over 100 declare places of work out there.


Kinds of Protection

Auto-Homeowners provides lots of the conventional sorts of auto insurance coverage protection, but it surely additionally focuses on distinctive sorts of auto insurance coverage, like traditional automotive insurance coverage and insurance coverage for transformed or modified vehicles, akin to automobiles with wheelchair lifts. Auto-Homeowners additionally has a number of sorts of automotive insurance coverage protection you could embody together with your coverage.

You will need to work with an impartial insurance coverage agent to buy Auto-Homeowners automotive insurance coverage.

Collision

If you’re in an accident with one other automobile or object, collision insurance coverage could assist pay for the damages.

Auto-Homeowners goes one step additional with its Collision Protection Benefit, which incorporates a number of perks like these:

  • Auto-Homeowners waives your collision deductible when your accident is with one other Auto-Homeowners policyholder.
  • Animal-related damages might be lined by the larger of your coverage’s complete or collision protection.

Complete

Complete protection can shield in opposition to pure damages, akin to these attributable to fireplace, theft, and climate.

Legal responsibility 

There are two sorts of legal responsibility protection: bodily harm legal responsibility and property harm legal responsibility. Whereas bodily harm legal responsibility covers harm to others (medical bills, and so forth.), the property harm portion of your coverage covers any property damages that you simply trigger to a different celebration.

Uninsured/Underinsured Motorist

Not all drivers have sufficient automotive insurance coverage when they’re in an accident. If you’re in an accident with a driver that has minimal automotive insurance coverage or none in any respect, uninsured and underinsured motorist insurance coverage could pay for accidents or damages that these drivers trigger you in an accident. It’s required for automotive insurance coverage in some states. 

Medical Funds 

Medical funds protection supplies safety in case you or your passengers expertise accidents, no matter who’s at fault.

Private Damage Safety

Private harm safety, or PIP, additionally provides protection for medical bills and even misplaced wages, no matter which celebration is at fault for the accident. PIP is required in lots of states, though it might value extra as an add-on to your coverage.

Extra Bills 

Ought to your automotive require restore, further bills protection implies that you could possibly obtain reimbursement for a rental automotive whereas your automotive is quickly within the store. For those who expertise these damages on the highway, this protection may additionally reimburse you for meals, motels, and different bills.

Buy Worth Assure

Automobiles are topic to regular depreciation, however the Buy Worth Assure program ensures your automobile valuation is predicated on the acquisition worth and never the present worth.

Rental Automobile Protection

If you might want to hire a automotive attributable to an accident, rental automotive protection may reimburse you for rental charges and different prices it’s possible you’ll incur.

Mortgage Hole/Lease Hole

Because of depreciation, you could possibly be left paying the stability on a wrecked automobile when you owe greater than its present worth. Hole insurance coverage, often known as mortgage or lease protection, ensures that your insurance coverage firm pays the stability.

Diminished Worth

Diminished worth covers the distinction in case your automotive’s worth is diminished attributable to accident-related repairs.  

Private Vehicle Plus Bundle

Auto-Homeowners Vehicle Plus Bundle bundles lots of the hottest providers in an unique and inexpensive bundle for drivers. This consists of greater than ten further advantages like mobile phone alternative, locksmith providers, and id theft expense protection. 


Reductions

To chop automotive insurance coverage prices, Auto-Homeowners provides a number of automotive insurance coverage reductions that decrease the entire value of your premium.

Automobile Low cost

  • Security Characteristic Reductions: You might get monetary savings in case your automobile has airbags, an anti-lock brake system (ABS), or an anti-theft machine.

Driver Reductions

  • Favorable Loss Historical past: Auto-Homeowners can reward you you probably have a historical past of no or minor claims.
  • Teen Driver Monitoring Low cost: This can be a telematics-based low cost that makes use of your automobile’s GPS or a cell app to trace secure driving habits. 

Scholar Reductions

  • Good Scholar Low cost: Auto-Homeowners rewards college students with as much as 20% off their insurance policies once they keep a cumulative “B” or increased grade level common.
  • Scholar Away at College Low cost: College students can get monetary savings once they depart their automotive at residence whereas attending a faculty over 100 miles away.

Fee Reductions

  • Multi-Coverage Low cost: It can save you whenever you buy a number of insurance policies from Auto-Homeowners, akin to a house and auto insurance coverage bundle.
  • Life Multi-Coverage Low cost: For those who bundle life insurance coverage together with your auto insurance coverage, you could possibly obtain reductions on each.
  • Fee Historical past: Auto-Homeowners rewards you for making well timed funds for at least 36 months. 
  • Paid-in-Full Low cost: If you pay your coverage in full, you’ll be able to pay lower than a month-to-month installment plan would value.
  • Inexperienced Low cost: There are financial savings whenever you enroll in paperless on-line billing. 
  • Advance Quote: If you’re a brand new applicant, you could possibly save whenever you request a premium quote earlier than your coverage’s efficient date.
  • Multi-Automobile Low cost: If in case you have multiple non-public passenger automobile, you could possibly save in your insurance coverage coverage when you insure them each with Auto-Homeowners.
  • Decrease premium: You might get monetary savings in your month-to-month funds whenever you improve your deductible.

Fee Choices

Auto-Homeowners accepts funds by way of cellphone (1-800-288-8740) or you’ll be able to ship an e-mail inquiry. The billing division is accessible Monday by means of Friday from 8:00 a.m. to 4:30 p.m. ET.

You may additionally make funds by mail:

Auto-Homeowners
PAY BY MAIL
PO Field 740312
Cincinnati, OH 45274-0312


Loss Ratio

An insurance coverage firm’s loss ratio is a good way to find out whether or not that firm is financially wholesome. A decrease ratio means the corporate makes more cash than it pays out, and customarily signifies higher monetary well being. Auto-Homeowners’ loss ratio of 60.89% is about common for the business and implies that it’s doing pretty properly. 


Different Options

Along with its automotive insurance coverage protection, Auto-Homeowners provides a number of different providers to assist guarantee driver security on the highway.

Roadside Help

Auto-Homeowners provides a 24/7 Highway Hassle Service that features quite a lot of assets, together with tire adjustments, jump-starts, and gasoline supply, in addition to locksmith and towing providers.

Glass and Windshield Restore

Auto-Homeowners additionally provides the choice of glass and windshield restore to help with lined damages. As a associate with each Safelite Options and Quest Claims Service, Auto-Homeowners will help you discover a native restore store for service.


Buyer Service

You should utilize the net search instrument to discover a native agent or use the net e-mail type to ship a message to the particular division wanted. 

You can even contact assist by cellphone. Normal and billing assist is accessible Monday – Friday, 8:00 a.m. – 4:30 p.m. ET. Nonetheless, it’s closed on Saturday and Sunday.

Division Contact Info 
Mailing handle: Company workplace Auto-Homeowners Company Workplace
6101 Anacapri Blvd.
Lansing, MI 48917
Mailing handle: Funds  Auto-Homeowners Funds
PO Field 740312
Cincinnati, OH 45274-0312 
Normal assist  1-800-346-0346 
Billing: Auto, residence, and enterprise  1-800-288-8740 
Normal fax  1-517-323-8796 
24/7 Roadside help  1-888-TOW-AOIC (1-888-869-2642) 
Emergency claims  1-888-252-4626 
After-hours claims assist  1-888-252-4626 
Windshield & glass restore: Safelite Options  1-877-492-7768 
Windshield & glass restore: Quest Claims  1-888-295-2590 
Billing inquiries for medical suppliers  1-877-876-5621 

For assist with a declare, policyholders ought to at all times contact their native agent first.

Auto-Homeowners receives wonderful scores for each buyer satisfaction and monetary energy.


Buyer Satisfaction 

One strategy to decide the standard of an organization’s claims processing is to take a look at its grade from the main ranking supplier, AM Greatest. An AM Greatest ranking signifies an organization’s monetary energy; a greater rating signifies extra environment friendly and dependable claims/funds processing. 

Auto-Homeowners proudly shares in its 2020 Annual Report that it has earned AM Greatest’s highest doable ranking of A++ (Superior) for 49 consecutive years. It makes the insurer a stand out throughout the business since many different firms wrestle to achieve this degree.

Satisfaction Scores

In J.D. Energy’s 2021 U.S. Auto Insurance coverage Research, Auto-Homeowners was not rated in each area. Nonetheless, the place it was rated, it carried out properly with above-average scores within the Central, North Central, Florida, and Southeast areas. In J.D. Energy’s 2021 U.S. Insurance coverage Procuring Research, Auto-Homeowners as soon as once more acquired above-average scores with a complete rating of 874/1,000 amongst midsize insurers.

Solely in J.D. Energy’s 2021 U.S. Insurance coverage Digital Expertise Research did Auto-Homeowners fall under common with a complete rating of 829/1,000 for the Service class, though it did very properly within the Procuring class.

Grievance Index

Every year, the Nationwide Affiliation of Insurance coverage Commissioners (NAIC) assigns insurance coverage suppliers a buyer grievance index rating primarily based on the variety of complaints an organization receives. Utilizing a baseline rating of 1.00, this ranking helps customers decide what degree of buyer satisfaction to count on. 

Auto-Homeowners scored properly with a mean ranking of 0.89 in 2021. This can be a slight improve since 2020’s rating of 0.86, and 0.67 in 2019. Regardless, Auto-Homeowners outperforms a lot of its rivals with excessive buyer satisfaction.


Account Administration

Auto-Homeowners does have a cell app out there for each Apple and Android methods, however no on-line chat is accessible. 

If you might want to file a declare, Auto-Homeowners provides what it calls “‘No Drawback’ Declare Service.” You might be required to contact your insurance coverage agent straight, however there are over 100 declare places of work to assist. 

There may be an internet Buyer Heart out there for simple account administration, with plenty of instruments and assets together with:

  • Account exercise
  • Funds
  • Claims monitoring
  • Paperless billing
  • Proof of insurance coverage
  • Highway Hassle Service playing cards

You even have the power to pay your invoice with out logging in.  


How Auto-Homeowners Compares to Different Auto Insurance coverage Firms

With a 4.3/5 Investopedia ranking, Auto-Homeowners ranks higher than different automotive insurance coverage firms like Alfa, Allstate, and Kemper, however worse than USAA and Nation Insurance coverage. Our analysis finds that Auto-Homeowners has a mean annual premium of $1,785 per yr, making it cheaper than State Farm, Farmers, and Auto-Membership. 

Its service space is extra restricted than many different suppliers, and you could work with an impartial agent. Nonetheless, in case you are eligible, Auto-Homeowners’ automotive insurance coverage is a superb selection for dependable, multi-faceted protection to your automobile. 


Remaining Verdict

Auto-Homeowners consists of plenty of subsidiaries designed to supply personalised protection to pick out areas. With protection in 26 states, Auto-Homeowners works with over 48,000 licensed brokers unfold throughout greater than 100 places of work. Along with wonderful buyer satisfaction scores, Auto-Homeowners additional evokes confidence with its long-running file of good monetary scores from AM Greatest.


Methodology 

All of our evaluations of auto insurance coverage firms are primarily based on in depth analysis and evaluation of every firm’s protection, customer support, pricing, years in enterprise, accreditation, and extra. To charge Auto-Homeowners and different suppliers, we developed an auto insurance coverage overview methodology that compares the auto insurance coverage protection sorts, further options, reductions, account administration, and reported buyer experiences to assist us present insights into issues like customer support and the energy of every firm’s choices. 

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