Auto-Owner insurance company based in Michigan, U.S., is a mutual insurance company. Vern V. Moulton founded the company in the year 1966. It offers a wide range of life, home, car and business insurance. As of now, Auto-owner insurance is operating in 26 states. The policies offered by the company are sold to the customers through local and independent insurance agents.
Coverage and benefits offered under Auto-owner insurance
Auto-owner insurance provides the customers with all kinds of coverages that include liability, roadside assistance and other state-related coverages. There are several additional coverage options offered under Auto-owners insurance. These are:
If your car is destroyed or stolen and you have a loan or lease balance, then gap coverage can be really helpful to you. Although, your car value can be paid by the Comprehensive and collision coverage. But, this amount might be slightly lower than what you can owe on a loan or lease. So, buying the gap coverage can help you in paying the difference.
Diminished value coverage
This is a minimal version of gap coverage. It becomes handy in less extreme situations. Diminished value coverage can cover up your compensation for the reduced value of your damaged car. It is not applicable in the cases wherein your car has completely got destroyed or stolen.
The Personal automobile plus package
This coverage has plenty of benefits. Most importantly, it includes identity theft coverage, insurance for cell phones, and replacement for stolen or lost keys.
Additional expenses insurance
Besides providing traditional rental car coverage wherein expenses are paid for a rental car if the car is in the shop for a covered claim, this additional coverage also takes care of the expenses of food, lodging and other consequences. However, few other benefits come along with Auto-owners. These are :
Rental car insurance
Auto-owners provide coverage for the entire fees when you rent a car. It also covers the accident fees from the rental company which is associated with an accident.
This advantage offered by Auto-owners has two parts. Firstly, it will waive off the collision deductibles if you are in a collision with another company customer. Secondly, if you collide with an animal, it will pay from your collision or the comprehensive coverage.
Common loss deductible
Under this, if someone needs to claim to both the policies (home insurance & auto insurance), the company reduces your auto deductible over the amount of your property deductible or vice-versa if your homeowners deductible is higher. In addition to this, Auto-owners insurance also provides several discounts such as Multi-policy discount; Life insurance multi-policy premium discount; Discount for a 36-month history of on-time payments; Discount for paying your premium in full upfront; Multicar discount; Paperless and online payments discount; Discount for safety features; Discount for having few or favourable claims and Good student discount.
Auto-Owners homeowners insurance
Under this, Auto-Owners provides the customers with standard coverage for homeowners. Along with this, it also offers several additional coverage options which one can choose from. Auto-Owners homeowners insurance offers additional coverage for appliances leaks and wasted food due to the power failure event. Moreover, it offers special coverage for homes with high value. These offers are mostly not available under other insurance companies, due to which Auto-owners turns out to be dominant.
Auto-Owners life insurance
Auto-Owners Insurance offers its customers term, whole and universal life insurance policies. However, a term life insurance policy has always been the best choice for most families since it has the best combination of price and protection. Auto-owners provide the terms of 10,20,30 years, which can get extended to the age of 95. Auto-Owners also offers a few other varieties of insurance options. It includes Condo insurance, Renters insurance, Farm insurance, Flood insurance, Umbrella insurance, Motorcycle Insurance, Boat Insurance, ATV and off-road vehicle insurance, Commercial auto-insurance and Mobile home insurance.
Rating and reviews of Auto-owner auto insurance
Auto-owner insurance company has received a rating of 4 stars out of 5 for its overall performance in terms of pricing, discounts, financial strength, website transparency and complaint data. According to the complaint data of the National Association of Insurance Commissioners, Auto-Owners has recorded fewer complaints to the state regulators than it was expected from the company of the same size. In addition, according to the 2020 J.D. Power study, the company’s customer satisfaction ratings are quite better than the average.
Pros and Cons of Auto-Owners insurance
Auto-Owners insurance provides a wide range of insurance products to its customers. It also gives an advantage of the discount for bundling. Moreover, the company has received fewer complaints than other companies that provide auto and life insurance. Having a user-friendly website, one can easily view the policy-related information, its billing and payments herein.
The only disadvantage Auto-Owners insurance has is that it is only available in 26 states. So, customers might have to search whether the services are available in their state or not. Auto-Owners insurance can be a great choice for someone who’s searching for several varieties of policies along with the feature of bundling discounts. All you need to do to buy Auto-Owners’ homeowners insurance is to contact any local agent in your area and discuss the policy coverage details. However, check other insurance companies as well and choose what suits your needs and requirements best.