Auto-Owners Insurance: A Giant In The Industry

Auto-Owners Insurance Group is a mutual insurance company that provides life, home, car and business insurance. It has been a member of the Fortune 500 since 2003 and was listed at number 320 in 2020. The company has around 6,700 employees and revenues of $11,407 million as of March 31, 2021. Auto-Owners Insurance offers insurance in 26 states through local, independent insurance agents. The company is headquartered in Lansing, Michigan, and has been in operation since 1916. Auto-Owners Insurance is known for its excellent customer service and claims handling, with high ratings in customer satisfaction surveys.

Auto-Owners Insurance Group's financial status

Auto-Owners Insurance Group is a mutual insurance company that provides life, home, auto, and business insurance. The company was founded in 1916 and moved its headquarters to Lansing, Michigan, in 1917, where it has remained ever since. Auto-Owners Insurance Group has expanded its insurance offerings beyond Michigan and now operates in 26 states across the US.

The company has been a member of the Fortune 500 since 2003 and was listed at number 320 in 2020. Auto-Owners Insurance Group has a strong financial status, reflected in its A++ (Superior) rating by AM Best Company for financial stability. In its 2023 annual report, the company reported a challenging year due to inflationary pressures and weather-related losses, resulting in an underwriting loss and a decline in its policyholder surplus. Despite these headwinds, Auto-Owners Insurance Group maintained a solid financial position with a policyholder surplus of approximately $14.3 billion. The company also experienced its largest-ever annual premium increase of over $1.8 billion and a significant growth in its in-force policy count, surpassing 5.95 million policies.

Auto-Owners Insurance Group's financial stability is further demonstrated by its ability to support its business agents and maintain profitable growth strategies. The company's commitment to the independent agency system and focus on providing excellent service to its agents and policyholders contribute to its strong financial standing.

With 115 locations across the US, Auto-Owners Insurance Group has a vast network of independent agents who provide local and personalized expertise to their customers. The company's financial stability and commitment to customer service have earned it a reputation as a reliable and trusted insurance provider in the markets it serves.

Auto-Owners Insurance's customer service ratings

Auto-Owners Insurance is a mutual insurance company that has been in business since 1916. It offers life, home, car, and business insurance, and operates in 26 states across the US. The company has been a member of the Fortune 500 since 2003 and was listed at number 320 in 2020.

Auto-Owners Insurance has received mixed customer service ratings. On WalletHub, the company has a 3.6/5 rating from editors and a 2.5/5 rating from users. WalletHub editors praised the company for its customer service and coverage options, as well as its competitive premiums. The company also received an A+ rating from the Better Business Bureau (BBB).

However, some customers have complained about issues with claims handling, coverage, and staff. For example, some reviewers mentioned problems with delayed or denied claims, inadequate compensation, and unresponsiveness from staff members. On the other hand, positive reviews highlighted the company's easy claims process, quick response times, and compassionate staff.

Auto-Owners Insurance's customer service is provided through independent agents, which means customers have a single point of contact for all their insurance needs. This model allows for consistent service and personalized attention. The company also offers some online services, such as automatic payments and the ability to check the status of a claim.

Overall, Auto-Owners Insurance has received recognition for its customer service and claims management, but individual experiences may vary, as evidenced by the mixed reviews.

Auto-Owners Insurance's range of insurance products

Auto-Owners Insurance Group is a mutual insurance company that offers a wide range of insurance products to meet the diverse needs of its customers. The company has been in business since 1916 and has established itself as a trusted provider of insurance solutions, including life, home, car, and business insurance.

Life Insurance

Auto-Owners Insurance recognizes the importance of financial security for loved ones in the event of an unexpected loss. Their life insurance policies provide comprehensive coverage, ensuring that families are protected and can maintain their standard of living even during difficult times.

Home Insurance

The company offers homeowners insurance that goes beyond just protecting the physical structure of a home. Their policies are designed to provide peace of mind and financial protection for one of the most significant investments individuals and families will ever make. Auto-Owners Home Insurance covers the home itself and personal belongings, offering financial assistance in the event of damage, loss, or theft.

Auto Insurance

True to its name, Auto-Owners Insurance specializes in car insurance, offering a range of coverages to meet diverse needs. From protecting new vehicles with their Purchase Price Guarantee to providing rental car coverage and Road Trouble Service, they ensure that customers are taken care of both on and off the road. Auto-Owners Insurance also caters to classic car enthusiasts and those with modified or converted vehicles, offering specialized insurance options for these unique automobiles.

Business Insurance

Understanding the complexities of running a business, Auto-Owners Insurance provides tailored insurance solutions to help businesses thrive and protect their investments. Their business insurance policies are designed to mitigate risks and provide financial stability, allowing business owners to focus on growth and success.

In addition to these core offerings, Auto-Owners Insurance also provides a range of specialized insurance options, including property and valuables insurance, ATV and off-road vehicle insurance, and workers' compensation. The company's commitment to meeting the diverse needs of its customers is evident through their comprehensive range of insurance products.

Auto-Owners Insurance's market value

Auto-Owners Insurance Group is a mutual insurance company that provides life, home, car, and business insurance. The company has been a member of the Fortune 500 since 2003, and in 2020, it was listed at number 320. Auto-Owners Insurance offers its policies exclusively through local and independent insurance agents within its 26 operating states.

Auto-Owners Insurance has a strong financial position, reporting nearly $14.3 billion in policyholder surplus in 2023. The company experienced its largest-ever annual increase in premium revenue, amounting to over $1.8 billion. In the same year, the in-force policy count grew by over 353,000 policies, resulting in a total of 5.95 million policies.

Auto-Owners Insurance offers a wide range of insurance products, including auto, home, life, motorcycle, and business insurance. The company also provides insurance for rental dwellings, renters, condominiums, flood, boat, ATV, motorhome, and RV. Additionally, they offer umbrella coverage and farm insurance.

The company's auto insurance stands out for its deductible benefits. If a customer has both home and auto insurance with Auto-Owners and needs to make a claim for the same covered loss, the company will either reduce or waive the auto insurance deductible depending on the homeowner's deductible.

Auto-Owners Insurance also provides several discount options for its customers. These include discounts for young drivers, bundling policies, paying premiums in full, opting for paperless billing, insuring multiple vehicles, and having safety features in the insured vehicles.

Auto-Owners Insurance's employee numbers

Auto-Owners Insurance Group is a mutual insurance company that provides life, home, car, and business insurance. It was founded in 1916 by Vern V. Moulton and four other associates in Mount Pleasant, Michigan, and moved to Lansing, Michigan, in 1917, where its headquarters remain.

Auto-Owners Insurance has been a member of the Fortune 500 since 2003 and was listed at number 320 in 2020. The company has 6,733 employees and revenues of $11,407 million as of March 31, 2021.

Auto-Owners Insurance's policy is sold exclusively through local and independent insurance agents within their 26 operating states. The company has a strong financial position, with a policyholder surplus of nearly $14.3 billion. In 2023, the company experienced its largest-ever annual premium increase of over $1.8 billion and an in-force policy count growth of over 353,000 policies, bringing the total to 5.95 million.

The company's success is attributed to its dedicated associates, who provide excellent service to their agents and policyholders through their simple human sense® approach. Auto-Owners Insurance's three affiliates, Atlantic Casualty Insurance Company, Concord General Mutual, and Capital Insurance Group, have also experienced profitable growth.

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