Auto-Owners Insurance – An Overview

Auto-Owners Insurance is one of America’s largest car insurance companies. The Michigan-headquartered company offers auto, home, business, and life insurance to customers across the United States. Today, Auto-Owners Insurance employs more than 5,200 people across the country while earning over $6 billion of annual revenue.

Auto-Owners Car Insurance Review

Auto-Owners Insurance History

Auto-Owners Insurance was founded by Vern Moulton in 1916 in Mount Pleasant, Michigan. In 1976, the company moved to Delta Township, Michigan, which is where the company continues to be headquartered today.

For the first 20 years of its history, Auto-Owners Insurance wrote policies exclusively in Michigan. In 1935, the company expanded to Indiana.

Today, they offer policies across 26 states – but not the entire country. Auto-Owners Insurance currently serves customers in Alabama, Arizona, Arkansas, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Carolina, North Dakota, Ohio, Pennsylvania, South Carolina, South Dakota, Tennessee, Utah, Virginia and Wisconsin.

Auto-Owners Insurance now earns over $6 billion per year. The company is on the Fortune 500 list, listed in the #375 position as of 2018. From a corporate standpoint, Auto-Owners Insurance is comprised of one insurance company that provides life, health, and annuities and five property and casualty companies.

Auto-Owners Insurance Rankings

Auto-Owners Insurance is generally a well-regarded insurance company. Customers praise the company’s customer service. Since Auto-Owners Insurance is not one of America’s largest car insurance companies, the company isn’t ranked by J.D. Power.

Auto-Owners Insurance is, however, ranked by A.M. Best, a financial analysis company that analyzes the financial strength of companies. A.M. Best has awarded Auto-Owners Insurance its highest rating since 1972, giving the company an “A++” or “Superior” rating. That indicates Auto-Owners Insurance has solid financial stability. Few other car insurance companies score an A++. Most companies score an A-, A, or A+ rating – so Auto-Owners Insurance’s financial security is a considerable strength.

We also appreciate that Auto-Owners Insurance received far fewer complaints than competing insurance companies. Few other companies receive as few complaints as Auto-Owners Insurance. The company has an NAIC score of 0.58 compared to the industry average of 1.0, which means Auto-Owners Insurance receives roughly half the number of complaints.

What Makes Auto-Owners Insurance Unique?

Auto-Owners Insurance has several policies and products that make it unique, including:

Only Available in Some States: Auto-Owners Insurance is available in about half of all states in America. Generally, in states where it’s available, Auto-Owners Insurance is one of the highest-rated options.

Strong Financial Position: Few other insurance companies have an A++ rating from A.M. Best. That’s the company’s highest rating, and it indicates that Auto-Owners Insurance is in a great position of financial strength. Auto-Owners Insurance has maintained this ranking since 1972.

Must Buy From Individual Agents: Auto-Owners Insurance sells car insurance through independent agents. You cannot buy car insurance directly from the company. For some, this means they enjoy a good relationship with their agent.

Local Relationships: You not only have to buy Auto-Owners Insurance products from an individual agent, but that agent is always based in your local area, giving Auto-Owners Insurance a more local experience than many other car insurance companies.

Competitive Rates: Auto-Owners Insurance is known for its competitive rates. It may not always appear on car insurance comparison websites, but the company offers a good combination of value and customer service.

Strong Claims Satisfaction: Auto-Owners Insurance has some of the best claims satisfaction ratings in the industry, earning great marks from customers regarding how they handle claims.

Is Auto-Owners Insurance a Good Insurance Company? Our Review

Auto-Owners Insurance is one of the better-rated car insurance companies in the United States. Although it’s only available in roughly half the country, Auto-Owners Insurance is known for its personalized service, great-value rates, and strong claims satisfaction.

There are two big indicators that Auto-Owners Insurance is a good insurance company. First, the company has an NAIC score of 0.58 compared to 1.0, indicating that the company received about half the number of complaints as insurance companies of a similar size. Second, the company has an A++ rating from A.M. Best, which is the highest possible rating available from the company. That indicates the company should have no issue covering any of its liabilities.

Some people appreciate the fact that Auto-Owners Insurance works mostly through its agents instead of through online dashboards or overseas call centers. Many of your interactions with the company will be through this locally-based agent. Some people like that personalized service, while others appreciate a more online approach.

Overall, Auto-Owners Insurance has positive reviews from policyholders. Industry powerhouses like J.D. Power do not rank it, but claims satisfaction is generally strong. It’s hard to find a company that offers a similar blend of value, customer service, and claims satisfaction.

Auto-Owners Insurance Auto Insurance Policies and Products

Auto-Owners Insurance has several policies and products that make it unique, including:

Multiple Discounts: Auto-Owners Insurance offers discounts for having multiple policies, early payments, safety features, paperless billing, and teen drivers who sign up for GPS monitoring, among other features.

Optional Bonus Coverage: Auto-Owners Insurance lets you add a wide range of features to your car insurance policy, including coverage for lost or damaged cell phones, identity theft, personal property stolen from your car, damaged or stolen stereo equipment, legal expenses, lock rekeying, and more.

TrueRide Safe Driving App: Auto-Owners Insurance has a telematics driver tracking program called TrueRide. The safe driving app tracks your GPS driving data, then gives you a discount based on your safe driving behavior.

Change Policy Features with Agent: Any time you need to change your policy, you contact your Auto-Owners Insurance agent. You do not make changes online. Some people like this individualized approach (and not going through an overseas call center), while others appreciate the convenience of changing a policy online.

Final Word

Auto-Owners Insurance is a unique insurance company available in 26 states. The company has some of the highest ratings for financial stability, claims satisfaction, and customer service. Auto-Owners Insurance is also unique in that you purchase policies from individual agents in your local area – you don’t shop for policies online. However, despite there being a middleman, Auto-Owners Insurance doesn’t have significantly higher costs than other companies. Overall, if you’re in one of the 26 states covered by Auto-Owners Insurance, then this is one of the best car insurance options for you.

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