Founders Insurance Review & Ratings (2023)

This Founders Insurance Review will cover Founders Insurance ratings by real users for overall satisfaction and claims, cost, billing, and service satisfaction. To compare insurance rates from the best companies in your area, enter your ZIP code below.

UPDATED: Jun 21, 2022Fact Checked

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Chris Tepedino is a feature writer that has written extensively about home, life, and car insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and C...

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Written by Chris Tepedino
Insurance Feature Writer Chris Tepedino

Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent Laura Walker

UPDATED: Jun 21, 2022

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The Rundown

  • Founders Insurance is a less well-known insurance company
  • It provides both commercial and residential coverages
  • Founders offers affordable policies with customizable plans, however, it has many negative customer reviews

While searching for the best insurance companies, you’re likely to be unfamiliar with many of the names you encounter. It’s often difficult to find reliable information about the lesser-known insurance companies, and you may wonder if many of them are trustworthy. Maybe you’ve heard of Founders Insurance and are curious about its services. If so, this guide will help you understand the coverages available, how to find Founders insurance near you
and make an informed decision.

In this review, we’ll discuss the products offered by Founders Insurance Company. We’ll also take a look at its financial ratings and customer reviews to help you determine whether this company might be a good choice for you and your family.

Before continuing to our review of Founders Insurance, enter your ZIP code into our free tool to view quotes from more top-rated companies today.

What services does Founders Insurance provide?

Founders Insurance Company provides both commercial and residential coverage options.

Founders is perhaps best-known for its automotive insurance, but it provides additional coverages in the forms of renters insurance, homeowners insurance, liquor liability and special events coverage, and commercial auto insurance.

Founders Insurance Automotive Policies

Founders offers three different types of automotive insurance policies.

Personal Automotive Insurance

With a Founders Insurance automotive policy, plans can be personalized to meet your needs. There is no credit check or proof of prior insurance required for coverage. Founders accepts foreign and international licenses, and it is possible to obtain a policy even if you have prior losses.

Founders personal automotive insurance is available to drivers in Illinois, Indiana, Ohio, and Wisconsin. All policies include flexible underwriting and competitive prices. Monthly installment plans are available with low-cost down payment options.

Comprehensive auto insurance plans with Founders give you the ability to file SR-22 documents electronically. Collision deductibles are available up to $1,000, and Founders provides optional discounts for multi-car, transfer, homeowner, and renewal.

Founders Non-Owner Policies

For people that don’t own or regularly use a vehicle, Founders Insurance offers non-owner policies.

These plans include many of the same features as Founders personal automotive insurance, and it’s possible to qualify even if your license is expired, suspended, foreign, out-of-state, or unverifiable.

Non-owner policies also feature expanded coverage options, such as accidental death benefits and legal expenses coverage.

Founders Commercial Auto Insurance

Founders Insurance provides commercial automotive coverage for vehicles that weigh less than 16,000 pounds and travel within a 200-mile radius.

Commercial auto insurance is available to drivers in Illinois and Indiana, and benefits are available from the state minimum up to $300,000. For an additional charge, commercial auto policies are available even if you have an out-of-state, foreign, or unverifiable license.

Founders commercial auto plans are ideal for businesses that use vehicles such as snow plowers, landscapers, and contractors.

Founders Renters Insurance

Renters insurance is a great investment and a wise choice if you pay rent. Renters insurance through Founders Insurance Company is available to anyone who rents an apartment, house, condominium, or townhome in Illinois.

Founders renters insurance automatically includes liability insurance.

Liability insurance protects you from being sued if someone is hurt on your property. It is included in all Founders renters insurance policies. Additionally, all policies include medical payment coverage, which will pay for injuries to other people whether or not you are liable.

Plans are affordable and may start as low as 40 cents per day.

Renters insurance policies through Founders do not require a credit check or prior insurance. Pets are allowed, although exceptions may apply. Personal property coverage benefits range from $10,000 to $50,000, and personal liability coverage benefits start at $25,000 and go up $300,000.

Founders Insurance for Homeowners

If you own a house in the state of Illinois, you may qualify for Founders Insurance homeowners coverage. These policies can be written monthly, but it’s more affordable to bundle homeowners insurance with a Founders auto insurance plan.

Founders offers three types of homeowners insurance policies:

  • HO3 special or standard policy. This plan is for homes up to 100 years old and provides benefits from $75,000 to $500,000.
  • HO8 policy. With this plan, there is no age restriction and benefits range from $30,000 to $300,000.
  • HO6 policy. This plan is designed for people who own a condo or townhome.

There is no credit check or prior insurance requirement for Founders homeowners insurance. Risk factors, such as pets and space heaters, are accepted.

Liquor Liability and Special Events Insurance

Founders Insurance also provides coverage for risks associated with liquor licenses or special events like wedding receptions, fundraisers, and fairs.

Founders Insurance has been providing commercial coverages for special events and venues since 1901 and lists these policies as one of its specialties.

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Founders Insurance Financial Ratings & Customer Reviews

Financial ratings and customer reviews are important sources of information when you’re searching for an insurance company. Financial ratings are third-party, impartial appraisals of an insurance company’s ability to meet financial obligations, and they offer insights into a company’s financial stability.

Third-Party Financial Ratings

Out of the major financial rating agencies, only A.M. Best has rated Founders Insurance Company.

Founders Insurance has an “A” (excellent) rating for financial strength with A.M. Best, and its outlook is classified as stable. Founders Insurance Company’s long-term issuer credit rating is “A” (excellent) and the outlook is also stable.

Founders Insurance Customer Reviews

Customer reviews are one of the most important sources of information that you should consult when searching for an insurance company.

Founders Insurance is not Better Business Bureau (BBB) accredited, but it does have a BBB rating of A-, based on 107 customer complaints. Founders also has a 1/5 star rating based on 49 customer reviews with the BBB.

Founders Insurance is reviewed similarly on Google, where it has an average rating of 1.9/5 stars based on 591 customer reviews.

On Clearsurance, Founders has been reviewed more positively. The average rating based on 25 customer reviews is 3.79/5 stars.

Most customers leaving a negative review of Founders Insurance cite poor customer service and a failure to follow through on insurance commitments as the reasons for their dissatisfaction.

Founders Insurance Claims and Payments

To report a claim, you must fill out a short form that requires your name, email, phone number, the date and time of the loss, and your policy number.

The company’s website provides a login portal to access your account and make your Founders Insurance payments. You may choose to register an account with the website, or you may continue as an unregistered user.

Founders Insurance: The Bottom Line

Founders Insurance offers a wide variety of flexible policy options to choose from. The affordable plans are customizable and can be tailored to your needs.

Some of the best features of Founders Insurance include:

  • Easy to get. Founders Insurance does not require a credit check to qualify for its policies, and it accepts most foreign, out-of-state, expired, suspended, and unverifiable driver’s licenses.
  • Affordable renters insurance. Founders offers renters insurance policies starting at 40 cents per day.
  • Electronic filings and account access. Founders gives you the option to save time and conserve paper by filing your SR-22 forms digitally. You may also access your account via the Founders Insurance login.
  • Personalized plans. Insurance policies with Founders are highly customizable and can be tailored to fit your needs.

Although Founders Insurance policies are affordable and easy to acquire, the company is not doing everything right. Founders Insurance does not perform well in the following areas:

  • Online information. Founders Insurance could improve its website by adding more information about its rates online.
  • Customer service. The most negative trait of Founders Insurance appears to be its customer service, and it has received many poor customer reviews and complaints online.
  • Financial credibility. Founders has been favorably rated by A.M. Best but is not rated by any other major rating agencies. Additionally, customers complain that Founders does not always honor its policy promises.

As with any big decision, it’s important to research all your options. Before deciding on a Founders Insurance plan, enter your ZIP code into our free quote comparison tool to see rates from the top-rated companies today.

for Founders Insurance Company

3.79 (25 reviews)
December 12, 2020


Good prices

Been okay so far price is decent too I think they need to be available in the office more but mostly decent company
June 21, 2020


Founders is awesome

Great service great they really do the most to ensure customer satisfaction I really wish that they would have a grace period
May 3, 2020


I appreciate the service and enjoy the business

Great everyone was respectful and they were very patient with me I was able to get through everything with no rushed decisions.
May 2, 2020



Founders is a great company. My grandparents and my dad have had a such great experience. The insurance plans are affordable and great!
May 1, 2020


My thoughts on founders

They were a wonderful company very fair rates but I found a better insurance policy.they were very helpful when I filed my first auto accident claim
October 12, 2019


good company and goodprice

never had any problems although never had a claim . seems to be a repatible company. i will continue to use them
July 30, 2019


i am happy

so far no problems-good rates-service-next to other companies, I think they are affordable-you might shop around better rates,but this may be the line.
August 23, 2018


Founders Insurance

The agent is really nice and helpful. The internet site is easy to use, I pay there using my account and it is fast. Very practical. Good price.
April 29, 2018


Could be better.

It was ok at first then the prices fluctuated too much after my policy would end. it was still an all around good insurance company.
April 18, 2018


i really like this company

i really like it.i have no complain for this company.its very nice customer service.its offers low prices
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