Is Auto Owners a good insurance company?

UPDATED: Nov 29, 2011

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UPDATED: Nov 29, 2011Fact Checked

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Asked November 29, 2011

1 Answer

Auto Owners was founded in 1916, in Lansing Michigan as an automobile insurer, and has since added additional lines of coverage, including auto, life, long term care and disability insurance, as well as commercial and farm insurance. The company is represented by independent agents and brokers throughout half of the United States.

Financial Rating
Auto Owners Insurance is rated A++ (superior) by the A.M. Best financial ratings company, the highest rating available. The company reports receiving over 50,000 insurance applications in the most recent fiscal year, and has underwritten more than $26 billion in life insurance policies alone, and more than $4.6 billion in auto insurance. Company assets are estimated at over $10.2 billion.

Customer Satisfaction
Customer satisfaction in Auto Owners lags behind some of their closest competitors, with only 35% of respondents report at least a minimal level of customer satisfaction. What should be noted, however, is that online reviews and customer ratings tend to be slanted towards the negative, as unhappy customers are more likely to file a complaint than happy ones. The largest complaints with the company lie in the area of claims denials.

Auto Owners Reviews

Company Availability
Auto Owners is licensed to sell insurance products in 26 states, but only sells insurance in 24: AL, AZ, AR, CO, FL, GA, ID, IL, IN, IA, KY, MI, MN, MO, NE, NC, ND, OH, SC, SD, TN, UT, VA and WI. The company is represented by more than 36,000 agents operating out of more than 6,200 brokers and independent agencies in their service area. Some insurance lines are only available in limited areas, such as homeowners insurance only being sold in Michigan and Ohio.

The Bottom Line
Auto Owners is rated highly by financial ratings groups such as A.M. Best and Standard and Poor's, and has sufficient assets to withstand even major risks. The company has been listed in Ward's Top 50 Financial Companies, and has enjoyed a steady margin of growth, even during the current economic downturn. Policyholders and investors should be secure in placing their money with Auto owners.

Answered November 29, 2011 by Anonymous

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