GMAC Insurance is a company that offers RV insurance, home insurance and auto insurance. As well as its insurance products, the company also provides roadside assistance through its GM motor club. GMAC is widely recognized as being the only insurance company with origins from the automotive industry.
GMAC insurance, previously a subsidiary of Ally Financial, was recently sold to American Capital Partners. As part of the sale, Ally provided American Capital with the use of the GMAC Insurance name for an extended period.
History of GMAC
GMAC began as a vital part of the General Motors Acceptance Corporation (GMAC) with a history that stretches as far back as 1919. Known initially as Motors Insurance Corporation, the company was expressly formed to provide financial services to customers. In its first year, GMAC launched with branches in Chicago, Detroit, New York, San Francisco and Toronto. In the years that followed, the company expanded its services to include insurance, commercial finance and mortgage operations. In 2010, GMAC was renamed Ally Financial.
What is so special about GMAC?
The GMAC insurance website features an online center which can be used by customers to learn more about their insurance needs. The learning center includes information on topics such as home insurance, vehicle insurance and the basics of insurance. The learning center also offers useful tips on how to choose the right coverage plan for a customer’s specific need. Alongside its offices, customers can choose file online for a claim. All that will be required is their policy number and the details of the accident in question.
What do their customer’s say about them?
Like every insurance company, there are mixed opinions about the quality of the services offered by GMAC. Many customers consider the initial offered rates to be fairly affordable—when compared to other insurance companies. There is also a lot of good feedback about the professionalism and support of the customer service when purchasing coverage.
However, some customers have complained about the company’s handling of policy cancellation. Customers who default on payments have had their policies cancelled without receiving any prior notification—despite claims by the company that these were sent. Others have complained about delays with their claim application. Most of these complaints appear to be a reflection of several weak agents within the company’s network. On Viewpoints.com, GMAC Insurance was given a 64% approval rating based on 14 reviews.
GMAC is a suitable choice for individuals seeking affordable auto insurance. The company has a strong financial footing and wide network. Its online application form makes it a convenient option for people who wish to buy insurance without necessarily having to visit the offices of the company. Customers can also use the online form to process their claims.