Many vehicle owners feel like they are aware of the most popular auto insurance companies because of how many TV commercials they see each week.
Certainly, you would think that if an insurance company has the money to spend advertising 24/7 they must be one of the largest out there.
The problem with this way of thinking, however, is that how much an insurer spends on advertising has little to do with insurance rates, customer service, claims service, or customer satisfaction.
For example, State Farm ranked third in television ad dollars spent at $629 million but the company ranks first in written premium and holds an 18% market share. This may seem irrelevant but it does demonstrate that television advertising does not make you number one; competitive rates, great customer service, and outstanding claims service does.
In this article, we’ll discuss Auto-Owners Insurance Company and drill down into its auto insurance product and to offer a review.
NOTE: We are not Auto-Owners Insurance Company. If you need to contact the company, you can speak with a local agent or call the company’s home office at (517) 323-1200 or email them through their website Auto-Owners.com.
6101 Anacapri Blvd.
Lansing MI, 48917
About Auto-Owners Insurance Company
Auto-Owners Insurance Group, founded in 1916, is one of the nation’s largest insurance companies even though they operate in only 26 states. With nearly three million policyholders, the company is known for exceptional financial ratings and ongoing stability.
Auto-Owners is more than just auto insurance, the company also provides homeowners’ insurance, life insurance, and several types of business insurance, all of which are underwritten by Auto-Owners rather than handed off to a third-party insurer like many popular insurance companies frequently do.
Auto-Owners distribute its insurance products in 26 states using independent insurance agents rather than captive agents like State Farm, Allstate, or Farmers. The company also insists on handling claims in-house rather than farming this important service out to third-party claims contractors.
In fact, it is the Auto-Owners claim service that most consumers rave about. The company even has a mission statement dedicated to the claims department.
Our Mission in Claims
- Pay all we owe on every claim
- Pay it as soon as we can
- Be the best provider of claim service in the industry
Any company that earns a superior reputation for its claims service, doesn’t get that reputation by farming out its claims service to a third-party independent contractor.
Auto-Owners Financial Stability
For an insurance company to excel and keep its promises to policyholders, the company must be financially sound. Auto-Owners has managed to demonstrate financial stability year after year because of sound underwriting and exceptional operational management.Here are the current financial ratings for Auto-Owners Insurance Company:
|Rating Company||Current Rating|
|A.B. Best||A++ (Superior) 47 Consecutive Years|
|Fortune 500||375th out of 500|
|J.D. Power||4 out of 5 stars for Overall Satisfaction|
Auto-Owners Insurance Products
Consumers have an advantage when the insurance company they choose offers more than one product. Like many U.S. insurers, Auto-Owners offers many personal line and commercial line products which will allow consumers to use them as a resource for one-stop-shopping.Here are the insurance products available from Auto-Owners:
|Auto||Home & Mobile Home||Term Life||Commercial Auto|
|Classic and Custom Cars||Renters Insurance||Universal Life||Workers' Comp|
|ATV & Off-Road Vehicles||Condo Insurance||Whole Life||Business Insurance|
|Boat Insurance||Farm||Long-Tern Care||Commercial Umbrella|
|Motorhome and RV||Flood||Disability Income||Loss Control|
Auto Insurance from Auto-Owners
It’s doubtful that an auto insurer like Auto-Owners could maintain an excellent reputation without offering auto insurance coverages to meet the needs of their customers.
Auto-Owners offers the standard Personal Auto Policy package of coverages so insurance shoppers can pick and choose the coverages that are most important to their needs. Auto-Owners also offers additional coverages for consumers who want more protection.
|Bodily Injury Liability||Pays for injuries to other drivers or passengers in an at-fault accident subject to the limits in the policy.|
|Property Damage Liability||Pays for repairs or replacement of another person's vehicle or property during an at-fault accident subject to the limits of the policy.|
|Medical Payments||Medical Payments covers medical expenses for you and other passengers in your vehicle in an accident no matter who's at fault. This coverage will even cover you for injuries sustained in another person's vehicle or as a pedestrian up to the limit in the policy.|
|Personal Injury Protection (PIP)||PIP covers the driver, all passengers, or a pedestrian involved in an accident no matter who's at fault. PIP helps pay for medical expenses, lost wages, loss of services, and funeral expenses up to the policy limits. This coverage is typically mandatory in "no-fault" states.|
|Uninsured/Underinsured Motorist||Uninsured/Underinsured motorist covers your medical expenses if the other driver (at-fault) is uninsured or underinsured. Some states also allow uninsured/underinsured property damage that covers your vehicle as well.|
|Comprehensive Coverage||Comprehensive coverage pays to repair or replace your vehicle after a non-collision event such as fire, vandalism, theft, or acts of nature subject to your deductible.|
|Collision Coverage||Collision coverage pays to repair or replace your vehicle after an accident that involves another vehicle or object subject to your deductible.
|Emergency Roadside Assistance||Roadside assistance is available if you are locked out of your vehicle or required roadside assistance like a tire change or fuel for an empty tank. Your coverage for each event is subject to the limit you purchased on your policy.|
|Rental Reimbursement||Rental reimbursement helps pay for rental expenses if you are in an at-fault accident or
hit by an uninsured driver. Most policies will have a limit per-day and per-accident.
These additional benefits that Auto-Owners offers will provide additional protection:
- Collision Coverage Advantage: If you are in an accident with another vehicle that is insured by Auto-Owners, Auto-Owners will waive your collision deductible.
- Common Loss Deductible: If you have homeowners and auto insurance with Auto-Owners and have damage to both your home and auto under one claim, the company will reduce your auto deductible by the amount of the personal property deductible in your homeowner’s policy. If your auto deductible is less than your personal property deductible, the auto deductible will be waived.
- Rental Car Coverage: If you select the rental reimbursement coverage, Auto-Owners will cover the rental vehicle for the broadest coverage and limits in your auto policy plus the company will cover additional expenses that the rental company will likely charge.
What about discounts from Auto-Owners?
To get the lowest possible auto insurance rates, it’s all about the discounts you qualify for. Auto-Owners gives applicants plenty of opportunities to save money if they qualify for discounts.
|Discount||How to Qualify|
|Multi-Policy||Receive premium savings when you purchase more than one qualifying policy.|
|Pay-in-Full||Save money by paying your annual premium in full rather than monthly|
|Payment History||Receive additional discounts after you've paid premiums on time for 36 months|
|Green Discount||You'll qualify for the green discount if you enroll paperless billing and pay online|
|Advance Quote Discount||This discount is available to shoppers who request a quote prior to the policy's effective date|
|Multi-Car||Insure 2 or more vehicles on your auto policy|
|Safety Feature Discount||Awarded to applicants who own a vehicle(s) with certain safety features|
|Favorable Loss History||Awarded to applicants with a favorable loss history|
|Student Discounts||Policy owners can receive discounts for students with maintain a B average or higher and/or if the student is away at school more than 100 miles from home|
How does Auto-Owners Compare with other Popular Companies?
Although a legitimate rate comparison between insurance companies should be offered unless we have all the underwriting information about the drivers and the vehicles, we can offer a rate comparison if we look at national averages from some of the most popular companies.Here is how Auto-Owners compares with other companies:
|21-year old Male||$1,127||$2,073||$1,279||$2,182|
|21-year old Female||$963||$1,924||$1,300||$961|
|35-year old Male||$584||$763||$545||$670|
Sample rates published by ValuePenguin
What are People Saying about Auto-Owners?
Have you ever had a relative or neighbor recommend an insurance company and then things didn’t go well? Referrals can be good or not so good but if you can find out what 100s of people are saying about an insurance company, wouldn’t that be helpful?
- ExpertInsuranceReviews.com – 4 out of 5 stars (44 reviews)
- NerdWallet – 4.5 out of 5 stars (average review from 3 major rating platforms)
- ConsumerAffairs.com – 4 out of 5 stars (33 reviews)
- US Insurance Agents – 2 out of 5 stars (103 reviews)
The Bottom Line
If you are shopping for auto insurance and you are concerned about competitive auto insurance rates, great customer service, outstanding claims service, access to a local agent, and you live in one of the 26 states Auto-Owners operates in, this insurance company will likely be a solid solution for your auto insurance needs.
Frequently ask Questions
Does Auto-Owners offer more than just car insurance?
Yes, Auto-Owners offers a complete line of personal property and casualty insurance products as well as life insurance, annuities, disability income, and long-term care insurance.
Since Auto-Owners is a mutual company, do they pay dividends?
Although Auto-Owners is a mutual company, they do not pay dividends to property and casualty policyholders.
Does Auto-Owners insure Classic and Antique cars?
Yes, Auto-Owners offers insurance for classic and antiquique cars and they offer insurance for custom vehicles as well.
Does Auto-Owners offer many discounts on their car insurance?
Currently there are 11 discounts that applicants may qualify for which can have a significant impact on your annual premium.