Alfa Insurance – An Overview

Alfa Insurance Companies was launched in 1946 as an offshoot of the Alabama Farmers Federation. The company initially provided high-quality fire insurance to members of the Alabama Farmers Federation but later branched into life, property, and automobile insurance. Today, Alfa offers insurance products and financial services to more than one million customers in 11 states. Alfa is particularly popular – and particularly well-rated – in Mississippi, Alabama, and Georgia.

Alfa Insurance History

Alfa was founded in 1946 with the goal of providing fire insurance to members of the Alabama Farmers Federation. Since then, Alfa has grown to offer a range of insurance products, including life, property, and automobile insurance, to customers across 11 states.

Today, subsidiaries of the company include Alfa Insurance Corp, Alfa General Insurance Corp, Alfa Vision Insurance Corp, and Alfa Life Insurance Corp, among other Alfa companies. Alfa is headquartered in Montgomery, Alabama.

Alfa Insurance Rankings

alfa insurance car insurance company reviewAlfa is a well-ranked insurance company in its region. Although Alfa isn’t large enough to appear on nationwide J.D. Power rankings, the company appears on J.D. Power’s Southeast regional rankings. In the 2019 version of those rankings, Alfa was picked as the fourth-best car insurance company in the Southeast United States, behind only Farm Bureau Insurance, USAA, and Erie Insurance.

Here’s how Alfa fared in the 2019 J.D. Power rankings:

Overall Satisfaction: 4 out of 5

Policy Offerings: 3 out of 5

Price: 4 out of 5

Billing Process and Policy Information: 4 out of 5

Interaction: 4 out of 5

Claims: 4 out of 5

We also analyze car insurance companies based on their financial strength. A.M. Best has given Alfa a financial strength rating of A or “Excellent.” In April 2019, however, A.M. Best downgraded Alfa’s long-term issuer credit rating to “A” from “A+.”

Alfa also has a slightly lower NAIC complaint index compared to its competitors, which means fewer-than-average policyholders complained to the NAIC. Alfa had a complaint index of 0.82 compared to the national median of 1.00.

What Makes Alfa Insurance Unique?

Alfa has several features that make it unique:

Only Available in 11 States: Alfa only sells car insurance in 11 states, and the company has a particularly strong presence in the South and the Southeast United States. Coverage is strongest in Alabama, Mississippi, and Georgia, although Alfa also sells insurance in Texas, Missouri, Indiana, Ohio, Virginia, Tennessee, Arkansas, and Kentucky.

Multiple Insurance Products: Alfa has expanded its insurance product offerings over the years. Today, the company sells home, life, business, and car insurance, among other insurance products. Customers can save up to 15% by bundling multiple policies together.

Health Insurance: Alfa is one of the few auto insurance companies that is also affiliated with health and dental insurance providers. Alfa partners with Humana to offer health insurance in certain states and partners with Blue Cross Blue Shield for dental insurance.

Alfa Weather Camera Network: Alfa partners with local news channels throughout the Southeast United States for its Alfa Weather Camera Network, which provides customers with early warnings to prepare for severe weather – like tornadoes or hurricanes.

Is Alfa a Good Insurance Company? Our Review

Alfa is one of the best-rated car insurance companies in the Southeast United States region. The company has a reputation for providing high-quality car insurance at a very reasonable price. Discounts are available to reduce the price even further.

These strong ratings are reaffirmed by reports from J.D. Power, which ranked Alfa as the fourth-best major car insurance provider in the Southeast subregion. Alfa also has a strong financial strength rating and fewer than the average number of complaints to state regulators.

Alfa is rarely the cheapest provider, but it’s also much less expensive than higher-end options. Alfa occupies a sort of middle ground, allowing customers to enjoy the benefits of a higher-priced car insurance policy without the high price tag. Only USAA and Progressive offer cheaper plans in the region on average.

It’s also easy to buy multiple insurance products and policies with Alfa. You can purchase life, home, business, car, health, and dental insurance through Alfa, for example, although health and dental are offered by affiliated providers. Many customers appreciate the convenience of having their entire suite of insurance products with one company.

Overall, if you are in one of Alfa’s 11 states, then it’s in your best interest to request a quote. Alfa offers some of the best car insurance products in the South and the Southeast United States, and they may offer the perfect policy for your budget and lifestyle.

Alfa Auto Insurance Policies and Products

Alfa distinguishes itself from the competition with many auto insurance policies and products, including all of the following:

Bonus Features Included Automatically: Alfa provides unique bonus features on all policies automatically. Alfa will pay you up to $50 per day for each day you show up in court at Alfa’s request, for example.

Additional Theft Coverage: Alfa also offers additional theft coverage automatically. If you make a theft claim under your comprehensive insurance, you will be compensated for losses of up to $200 for clothing and luggage.

Medical Payments Coverage Bonuses: Alfa also offers bonus features under its medical payments coverage, including a free companion bed for overnight stays in hospitals along with reasonable medical and funeral services (regardless of fault).

Optional Add-Ons: Everything listed above is included standard on an auto insurance policy. Policyholders can also pay for extra features, however, including emergency road services, loss of income coverage, and loss of car use and travel expenses, among other bonus coverage options.

Standard Range of Discounts: Alfa offers a standard range of discounts, including 5% discounts for defensive driver courses, 12% discounts for bundling home and auto insurance, and small discounts for paying your policy in full. Generally, however, Alfa’s rates are already very competitive compared to other providers.

Final Word

Alfa is available in 11 states in the South and the Southeast United States. Generally, Alfa is very well-rated in its covered states. The company is particularly well-rated in Alabama, Mississippi, and Georgia, where Alfa has a reputation for providing superior coverage at a surprisingly affordable price. Whether you’re looking for auto insurance or a full suite of insurance products, you may want to request a quote from Alfa.

Be the first to write a comment.

Your feedback