Founders Insurance Review & Ratings (2024)

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UPDATED: Jan 22, 2024Fact Checked

Jeff Root

Licensed Insurance Agent

Jeff is a well-known speaker and expert in life insurance and financial planning. He has spoken at top insurance conferences around the U.S., including the InsuranceNewsNet Super Conference, the 8% Nation Insurance Wealth Conference, and the Digital Life Insurance Agent Mastermind. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading...

Licensed Insurance Agent

Kristine Lee

Licensed Insurance Agent

Kristine Lee is a licensed insurance agent and one of The Zebra’s in-house content strategists. With a background in copywriting, she covers the ins and outs of the home and car insurance industries. She has been a contributor to numerous publications focused on the nuances of insurance, including on The Points Guy.

Licensed Insurance Agent

UPDATED: Jan 22, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

UPDATED: Jan 22, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Jan 22, 2024Fact Checked
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Founders Insurance Company

Average monthly rate for good drivers:

$100

A.M. Best rating:

A (Excellent)

Complaint level:

Med

Pros

  • Specializes in non-standard insurance policies
  • Offers flexible underwriting and personalized coverage
  • Provides additional coverage options such as accidental death benefits and legal expense coverage
  • Established history since 1901
  • Regional coverage in Illinois, Indiana, Ohio, and Wisconsin

Cons

  • Limited availability; only operates in four states
  • Complaint index slightly above the median
  • Lack of online quoting; quotes only available through independent agents
  • Limited digital features, no dedicated mobile app
  • Mixed customer reviews, with some mentioning a slow claims process and fluctuating prices

Final Verdict: Review of Founders Insurance Company

Founders Insurance offers affordable non-standard policies primarily for drivers who struggle to secure standard coverage. If you live where Founders operates and are considered high-risk to insure, consider adding this company to your list while comparison shopping.

However, safe drivers may have better luck earning cheaper rates with more coverage options from some of the other best insurance companies that offer more discount opportunities and policy add-ons.

You’ve learned how to buy Founders car insurance, now secure the best coverage for you by entering your ZIP code into our free rate comparison tool below to receive quotes from the top companies in your region.

What You Should Know About Founders Insurance Company

Address: 1350 E. Touhy Avenue, Suite 200W
City: Des Plaines
State: Illinois
ZIP Code: 60018
Phone Number: (847) 768-0040
Year Founded: 1901

AM Best Rating: A (Excellent)

Welcome to our comprehensive guide on Founders Insurance. Whether you’re in need of car insurance, non-owner policies, or SR-22 insurance, we’ve got you covered.

In this article, we’ll explore the key aspects of Founders Insurance, including its benefits, coverage options, and how to find the best rates. We understand that finding affordable insurance can be a time-consuming process, which is why we’ve made it easy for you.

By entering your zip code, you can quickly compare quotes from leading insurance providers in your local area. Don’t miss out on potential savings – take control of your insurance costs today by using our free quote comparison tool. Simply enter your zip code and start saving on your Founders Insurance premiums.

What is the history of Founders Insurance?

Headquartered in Des Plaines, Illinois, Founders Insurance Company started selling insurance for protection against fires in 1901. With only $100,000 of capital, a small group of merchants, farmers, and homeowners came together to form the Mutual Fire Insurance Company.

Then, under Marvin E. Pritikin, the company merged with Founders Mutual Insurance Company in 1960. However, it still mainly focused on fire insurance and liquor liability coverage as in the 1950s.

Leadership exchanged hands in 1982 when Pritikin sold the company to the Lutz family. But it wasn’t until 1990 that the company started selling personal car insurance.

Today, Founders Insurance sells car insurance in four states. However, the company also sells homeowner and business insurance spanning 22 states.

How do you request a Founders car insurance quote?

All Founders insurance policies are sold by independent car insurance agents contracted with the company.

Independent agents sell various insurance products but typically remain loyal to the customer rather than one specific company.

So this means you cannot request Founders car insurance quotes online, not even on the company website. Instead, you must use the website’s agent locator tool to find the representative closest to you.

Once connected, they will provide you with a Founders quote but may also offer you policies from other companies they’re contracted with as well.

What is the Founders Insurance cancellation policy?

To cancel your Founders Insurance car insurance policy, you must call your local agent and request to terminate your policy.

Depending on what state you live in, a cancellation fee may apply.

You can cancel your car insurance at any time. But to avoid a coverage lapse, ensure you secure a new policy before ending your old one.

Founders Insurance Company Insurance Coverage Options

Founders car insurance company is a non-standard insurer that sells car insurance to drivers in Illinois, Indiana, Ohio, and Wisconsin.

This company offers flexible underwriting and personalized coverage with no credit requirements, according to the website.

For coverage, you can purchase traditional car insurance basics from Founders Insurance that meet at least the legally required limits in the states where it operates.

This includes liability, uninsured motorist, collision, and comprehensive coverage. You can also purchase medical payments (MedPay) coverage, at least in Wisconsin, where it is a state-mandated insurance type.

Founders also sells car insurance to high-risk drivers, those needing SR-22 insurance, international licenses, and more.

The company also offers non-owner policies, plus additional accidental death benefits and legal expense coverage.

Founders Insurance does not currently provide a mobile app to customers. However, the company does offer a web link specifically compatible with mobile viewing.

So instead of downloading an app, drivers can visit the mobile web page and use their Founders insurance login to access their customer portal while on the go.

In the customer portal, you can pay your bill, file claims, make changes to your policy, and see further details about your car insurance coverage.

What other insurance products does Founders Insurance sell?

Founders offers a handful of additional insurance products to customers beyond car insurance policies.

However, not every product is available in every state in which the company operates.

If you live in Illinois, Founder offers renters insurance coverage for houses, condos, townhomes, and apartments with rates starting less than $1 per day.

Founders also sells homeowners insurance in the state of Illinois. While you can purchase a homeowner policy without buying car insurance, the company does discount your rates if you bundle both insurance types.

This company also offers commercial car insurance for vehicles that weigh under 16,000 pounds and travel less than a 200-mile radius. In Illinois and Indiana, it also writes policies for snowplows and landscaping.

Finally, Founders Insurance specializes in hospitality industry insurance, including liquor liability and special events coverage. The company covers everything from wedding receptions to farmers’ markets.

According to the website, Founders has been a leading hospitality insurer for over 50 years and supplies coverage for producers in 18 different states.

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Founders Insurance Company Insurance Rates Breakdown

Unfortunately, Founders car insurance rates are not publicly available at this time.

But if you do request Founders insurance quotes, you can compare them to the national average and the average rates in the state where you live.

According to the National Association of Insurance Commissioners (NAIC), the average cost of car insurance in 2018 was $99.16 per month or $1,190 annually.

In the table below, see the average annual cost of car insurance in the states where Founders Insurance sells policies.

Average Annual Car Insurance Rates by State
StateAverage Annual Car Insurance Rates
Illinois$3,270.95
Indiana$3,318.12
Ohio$2,829.17
Wisconsin$2,957.94

Keep in mind that many different variables impact your car insurance costs, and car insurance regulations and laws vary by state. For example, your ZIP code, age, driving record, car model, and coverage requirements heavily influence the price of your car insurance policy.

So to truly find the best coverage for you, compare quotes online from multiple different companies.

Founders Insurance Company Discounts Available

Founders Insurance does offer some stackable car insurance discounts to drivers. However, savings amounts and availability may vary by state.

At this time, you can earn multi-car, transfer, homeowner, and renewal discounts from Founders Insurance.

Other discounts may be available as well, but you’ll need to ask an agent for more specific information.

Founders Insurance Effortless Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

Founders Insurance offers multiple ways for policyholders to file a claim, ensuring a convenient and accessible process. You can submit a claim through their website, either by completing a form or by logging into your account.

Additionally, you have the option to file a claim over the phone, providing flexibility for those who prefer speaking with a representative. However, it’s worth noting that Founders Insurance does not currently provide a dedicated mobile app for claim filing.

Average Claim Processing Time

The average claim processing time with Founders Insurance may vary depending on the complexity of the claim and the specific circumstances. While they do not specify a precise timeline on their website, it’s advisable to reach out to their claims department directly for more information regarding the expected processing time for your specific claim.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is crucial in assessing an insurance company’s claim resolution and payout process. While Founders Insurance does not have publicly available customer reviews on their website, it’s a good practice to research independent sources and review platforms to gauge customer experiences with their claims. This can provide valuable insights into how efficiently and fairly the company handles claims.

Unveiling Cutting-Edge Digital and Technological Features by Founders Insurance

Mobile App Features and Functionality

Founders Insurance does not currently offer a dedicated mobile app for policyholders. However, they have designed a mobile web page that is compatible with smartphones, allowing customers to access their accounts on the go. While it may not have the full functionality of a mobile app, it provides essential features such as bill payment, claim filing, and policy management.

Online Account Management Capabilities

Policyholders with Founders Insurance can manage their accounts conveniently through the company’s website. The online portal allows users to make policy changes, access policy details, and pay bills. While it lacks the convenience of a mobile app, the online account management system offers the necessary tools for customers to stay in control of their insurance policies.

Digital Tools and Resources

Founders Insurance provides digital tools and resources to assist policyholders in understanding their coverage and making informed decisions. These resources may include educational articles, FAQs, and information on insurance products.

While they may not have an extensive suite of digital tools, these resources can be valuable for customers seeking information and guidance related to their insurance policies.

How Founders Insurance Company Ranks Among Providers

In a dynamic insurance landscape, Founders Insurance operates as a regional provider, offering a range of coverage options for drivers in Illinois, Indiana, Ohio, and Wisconsin. While Founders Insurance caters to non-standard insurance needs with flexible underwriting, it faces competition from well-established players in the industry.

Here are some of the main competitors and understand why they pose a challenge to Founders Insurance:

  • State Farm: State Farm is one of the largest insurance providers in the United States, offering a wide range of insurance products, including auto, home, and life insurance. With a vast network of agents and a strong financial position, State Farm competes with Founders Insurance by providing comprehensive coverage options and discounts.
  • Progressive: Progressive is known for its innovative approach to auto insurance, offering features like usage-based insurance and a robust online platform. As a major player in the insurance industry, Progressive competes with Founders Insurance by providing competitive rates and a user-friendly experience for customers.
  • Geico: Geico is a well-known insurance provider that focuses on delivering affordable auto insurance. With a strong online presence and a reputation for competitive pricing, Geico competes with Founders Insurance by offering a straightforward and cost-effective insurance solution.
  • Allstate: Allstate is a major insurance company offering a variety of insurance products, including auto and home insurance. With a focus on personalized coverage and a range of discounts, Allstate competes with Founders Insurance by providing comprehensive options for customers seeking reliable coverage.
  • Nationwide: Nationwide is a diversified insurance and financial services company with a strong presence in auto insurance. Known for its variety of coverage options and discounts, Nationwide competes with Founders Insurance by offering a comprehensive approach to insurance needs.
  • Farmers Insurance: Farmers Insurance is a well-established insurance provider offering a range of coverage options, including auto and home insurance. With a network of agents and a focus on customer service, Farmers Insurance competes with Founders Insurance by providing personalized solutions for customers.

As customers navigate the insurance market, Founders Insurance contends with formidable competitors like State Farm, Progressive, GEICO, Allstate, Nationwide, and Farmers Insurance. Each competitor brings its unique strengths and offerings, making the decision-making process crucial for individuals seeking reliable and affordable coverage.

By considering factors such as coverage options, discounts, and customer service, policyholders can make informed choices that align with their specific insurance needs.

What are the Founders Insurance financial ratings and customer reviews?

Looking at an insurance company’s financial rankings and customer reviews helps you determine if a company is reliable and easy to work with before actually committing to a policy.

Fortunately, Founders Insurance Company earned an A (Excellent) score from A.M. Best, implying that it is in a solid financial position. You can rely on Founders to close open claims and not default on obligations.

Founders Insurance is not accredited by the Better Business Bureau (BBB) but did earn an A- score. This means the company likely interacts positively with its customers.

According to the NAIC, Founders Insurance has a complaint index score of 7.20. The median complaint index is always set to 1.00, and lower scores are better. So a 7.20 does suggest that Founders Insurance receives substantially more customer complaints than the median.

It’s ubiquitous for car insurance companies to receive primarily negative reviews online, so keep this in mind while analyzing the Founder Insurance customer experience.

However, some customers mention a slow claims process while others say the prices fluctuate. But interactions with the actual customer service representatives seem primarily positive.

Frequently Asked Questions

What is Founders Insurance?

Founders Insurance is a regional insurance company based in Des Plaines, Illinois, that offers a range of personal and commercial insurance products.

What types of personal insurance does Founders Insurance offer?

Founders Insurance offers several types of personal insurance, including auto insurance, homeowners insurance, renters insurance, and umbrella insurance.

What types of commercial insurance does Founders Insurance offer?

Founders Insurance offers several types of commercial insurance, including property insurance, liability insurance, commercial auto insurance, and workers’ compensation insurance.

How is Founders Insurance rated by customers and industry experts?

Information on Founders Insurance’s current ratings and reviews is not readily available as the company has recently undergone changes, including a merger with Auto-Owners Insurance Group.

Can customers file claims online with Founders Insurance?

Yes, customers can file claims online with Founders Insurance by visiting the claims section of the company’s website and filling out the necessary information.

How can customers get a quote for insurance from Founders Insurance?

To get a quote for insurance from Founders Insurance, customers can visit the company’s website and fill out a form with their personal or business information.

Does Founders Insurance offer any discounts on insurance?

Yes, Founders Insurance offers several discounts on insurance products, including multi-policy discounts, safe driver discounts, and home safety discounts.

How can customers contact Founders Insurance with questions or concerns?

Customers can contact Founders Insurance by phone or email, or by visiting one of the company’s local offices. Contact information is available on the company’s website.

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Jeff Root

Licensed Insurance Agent

Jeff is a well-known speaker and expert in life insurance and financial planning. He has spoken at top insurance conferences around the U.S., including the InsuranceNewsNet Super Conference, the 8% Nation Insurance Wealth Conference, and the Digital Life Insurance Agent Mastermind. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading...

Licensed Insurance Agent

Kristine Lee

Licensed Insurance Agent

Kristine Lee is a licensed insurance agent and one of The Zebra’s in-house content strategists. With a background in copywriting, she covers the ins and outs of the home and car insurance industries. She has been a contributor to numerous publications focused on the nuances of insurance, including on The Points Guy.

Licensed Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

Reviews
for Founders Insurance Company

3.71 (26 reviews)
1
April 27, 2023

Scammers101

Insurance king is foundersinsurance

Pay me my 1400. Check tik tok, YouTube, etc for INSURANCE KINGZ or Kings for my video reviews. Also founders insurance same people. I'm about to make a series. were warned to return my money I originally removed my last review as they agreed to take care of my claim which went untouched for several months. I would file the claim online and get notification of submission. Then after making several calls and emails, they would send a new cla...
Pay me my 1400. Check tik tok, YouTube, etc for INSURANCE KINGZ or Kings for my video reviews. Also founders insurance same people. I'm about to make a series. were warned to return my money I originally removed my last review as they agreed to take care of my claim which went untouched for several months. I would file the claim online and get notification of submission. Then after making several calls and emails, they would send a new claim letter like I never did it. I filed both online and letter. They would again stall the process and send it again. As requested I attempted to call several Collison centers which refused with not so 5 star reviews on Insurance King/FOUNDER Insurance ( SAME COMPANY) The had the car for 3 months & gave my car back with engine lights, intake loose & dead new battery To shorten the story. The did a bad job with electrical & kept sending to Honda to fix something they needed to fix first. Sent me off to Deal with honda & I paid out of pocket and brought the car there. Honda noted the incomplete shot work, now Insurance King/Founder claim the repair had NO relation to the unfinished work which required front end replacement & electrical. I would have to file small claims for thud. They have no real claim agents. They would send me to multiple agents but after a few months those corresponding emails would bounce back unactive. INSURANCE KING is the primary name but Founder Insurance is the secondary name used so any bad reviews, feedbacks, or media would not interfere with the primary business name account. They have decided $1400.00 was worth my marketing awareness so that others with no second transportation, funds for rental or help to get to work will not be subject to this. This began before winter. That is a very long time. Cheap insurance is not worth it. Also notice that you are still paying your monthly for month and months waiting for your claim which is beneficial for them as you are literally paying your own claim. It will also instantly increase your premium before you even see a letter. When I did get someone they were already pre set to be rude and foul and it was just a payment question. I wish I read the reviews of Founder Insurance before my purchase. But unfortunately I was sucked into the Facebook covid world and seen the Ad for Insurance King. Never buy Insurance or anything related from a FB ad.
3
December 12, 2020

Freesurveytype12

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
3
June 21, 2020

Bik

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
5
May 3, 2020

Rosemary666

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.
5
May 2, 2020

pitadreal

Review

Founders is a great company. My grandparents and my dad have had a such great experience. The insurance plans are affordable and great!
4
May 1, 2020

Thedannyboy

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
4
October 12, 2019

terrajo5

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
4
July 30, 2019

Tlzjr-13

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.
4
August 23, 2018

MariaG

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.
3
April 29, 2018

Burg

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.
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