Alyssa Lane
State Auto Insurance is a longstanding insurance carrier, founded in Columbus, Ohio, in 1921. The company has a mixed reputation financially, with some sources citing financial difficulties in 2011 and difficulties in assessing the company's current financial strength. State Auto Insurance is now part of Liberty Mutual, which acquired it in July 2021. State Auto has expensive rates that are twice as high as Geico's, and its customer service is rated as below par. However, it does offer a wide range of extra coverage options and has an A+ rating from the Better Business Bureau.
| Characteristics | Values |
|---|---|
| Date founded | 1921 |
| Headquarters | Columbus, Ohio |
| Founder | Robert Pein |
| Number of states served | 33 |
| Insurance types offered | Auto, home, marine, farm, business, renters, life, and more |
| Financial strength rating | A- (A.M. Best) |
| BBB rating | A+ |
| NAIC complaint ratio | 0.27 |
| Customer service | Below par |
| Average monthly auto insurance rate | $178 |
| Average annual home insurance rate | $2,918 |
What You'll Learn
State Auto's financial strength
State Auto Insurance has a mixed reputation when it comes to financial strength, with some indicators suggesting financial difficulties in recent years. While the company has a long history and offers a range of insurance products, there have been questions about its financial stability.
In terms of financial strength ratings, State Auto has received varying assessments from different agencies. Moody's withdrew the company's financial strength rating of A3 in 2015, with a negative outlook. Standard & Poor's does not currently list State Auto, but it downgraded the company to BBB+ in 2011. These actions make it challenging to assess State Auto's current financial strength.
The company's financial health has been a concern in the past. In 2011, State Auto encountered financial difficulties, and there is limited information available on its financial strength since then. State Auto is also unlikely to compete on price with larger insurance companies due to its reliance on agents and the associated commissions.
Customer reviews on platforms like Yelp and the Better Business Bureau (BBB) offer insights into individual experiences with State Auto's financial dealings. While some customers have expressed dissatisfaction with unexpected rate increases or issues with claims handling, others have appreciated the company's competitive pricing and efficient claims processing.
Overall, State Auto's financial strength appears to be a mixed bag. While it has a solid history and a presence in multiple states, there are questions about its financial stability, and customer experiences vary. Those considering State Auto Insurance may want to weigh these factors when making their decision.
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State Auto's customer service reputation
State Auto Insurance has a mixed customer service reputation. While some customers appreciate the company's competitive pricing, personalized approach to insurance, and efficient claims-handling process, others have reported issues with customer service, unexpected rate increases, and delays or denials in the claims-handling process.
State Auto has an A+ rating from the Better Business Bureau (BBB) and has been accredited by the organization since 1941. However, the company has received a below-average customer feedback rating of 1.5 out of 5 stars on Yelp, based on an average of 35 reviews. The National Association of Insurance Commissioners (NAIC) gave State Auto an above-average complaint ratio of 1.69, compared to the national average of 1.00.
State Auto offers 24/7 customer support and online account management tools, allowing policyholders to manage their policies, update personal information, view billing details, and track claims. The company also provides a mobile app that offers features such as policy management and claims tracking.
State Auto Insurance is committed to providing efficient claim processing. While specific processing times may vary, the company strives to handle claims promptly and provide timely resolutions. Customers can file a claim online, over the phone, or through direct messaging on Twitter.
Overall, State Auto Insurance has a mixed reputation when it comes to customer service. While some customers appreciate the company's competitive rates and personalized approach, others have experienced issues with rate increases, delays in claims handling, and difficulties reaching customer service representatives.
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State Auto's insurance rates
State Auto Insurance offers a range of insurance products, including auto, home, marine, farm, and business insurance. The company was founded in 1921 in Columbus, Ohio, and currently operates in 33 states across the US.
State Auto's auto insurance rates are generally considered expensive when compared to other companies. The average monthly rate is $178, more than three times the price of State Farm and twice as expensive as Geico. State Auto justifies these higher rates by offering additional protections, such as pet and cell phone coverage, and a wide range of discounts.
State Auto offers various discounts to help customers save money on their insurance premiums. These include safe driver discounts, multi-policy discounts, good student discounts, anti-theft device discounts, accident-free discounts, and defensive driving course discounts.
The company also has a unique Start-Up discount, which incentivizes prospective customers to switch to State Auto before their existing auto insurance policy expires. The size of this discount depends on the previous insurer and the length of time with that company.
State Auto's Safety 360 telematics program offers a discount of up to 50% for participating customers. However, this program has received mediocre reviews from policyholders, and there is a risk of surcharges for poor driving performance.
While State Auto's rates are generally considered expensive, the company may offer competitive rates compared to other regional insurers. The cost of insurance will vary depending on factors such as age, driving record, location, coverage type, and deductible amount.
State Auto strives to provide affordable rates, reliable coverage, and excellent customer service. However, customer reviews regarding their claim handling process and customer service have been mixed, with some reporting issues getting in touch with representatives and resolving problems.
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State Auto's insurance discounts
State Auto Insurance offers a range of discounts to help customers save money on their insurance premiums. Here is a detailed list of the discounts available:
Safe Driver Discount
If you have a clean driving record with no accidents or violations in the past few years, you may qualify for this discount. State Auto also offers a telematics program, State Auto Safety 360, which rewards you for safer driving behaviour. By plugging a small device into your car and earning good driving scores, you can save up to 50% on your premiums.
Multi-Policy Discount
If you have multiple policies with State Auto, such as car insurance and homeowners insurance, you may qualify for a discount on both policies. This includes bundling your auto insurance with a Home, Dwelling Fire, or Umbrella policy.
Good Student Discount
If you're a student with good grades, you may be eligible for a discount of up to 25% on your car insurance premiums. This discount may last until you turn 25.
Anti-Theft Discount
If your car has an anti-theft device installed, such as an alarm or GPS tracking system, you may be eligible for a discount.
Accident-Free Discount
If you've been accident-free for a certain period, typically three years or more, you may qualify for this discount.
Defensive Driving Course Discount
Taking a driver safety course may help you get a discount on your car insurance. If you're under 21, State Auto offers a discount for attending a driving education course.
Pay-in-Full Discount
If you pay your entire premium upfront instead of making monthly payments, you may qualify for a discount.
Loyalty Discount
If you've been a State Auto customer for a number of years, you may be eligible for a loyalty discount.
It's important to note that not all discounts are available in every state, and the amount of each discount may vary depending on your location and other factors. Be sure to check with a State Auto representative to find out which discounts you may qualify for.
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State Auto's insurance coverage
State Auto Insurance offers a range of insurance products to meet the needs of its customers. The company provides auto, home, marine, farm, and business insurance, as well as some specialty policies through subsidiaries and insurance agents.
Auto Insurance
State Auto offers a range of auto insurance coverage options, including liability, collision, comprehensive, personal injury protection, and uninsured/underinsured motorist coverage. They also offer customised policies through their CustomFit program, allowing customers to select the coverage that best suits their needs.
Home Insurance
State Auto provides homeowners insurance that covers damage to the home and personal property, liability coverage, and additional living expenses if the home becomes uninhabitable due to a covered loss. They offer three package endorsement options: Securguard, Defender, and Estate, each providing additional limits and coverage.
Business Insurance
State Auto caters to businesses of all sizes, offering coverage options such as umbrella/excess liability, worker's compensation, and employment practices liability.
Other Insurance Products
State Auto also offers a range of other insurance products, including renters insurance, condo insurance, and boat insurance. They provide inland marine/boat insurance to cover personal property and watercraft.
Optional Coverages
State Auto offers some interesting additional coverages, including locksmith services, emergency travel, disability insurance for those who become disabled while driving, bail bonds, and ambulance services. They also offer the AutoXtended package, which includes emergency transportation, travel expenses, and disability wage loss.
Discounts
State Auto Insurance offers a variety of discounts to help customers save on their insurance premiums. These include safe driver discounts, multi-policy discounts, good student discounts, anti-theft device discounts, accident-free discounts, defensive driving course discounts, and pay-in-full discounts, among others.
Customer Service and Claims
State Auto provides 24/7 customer support and online account management tools. They offer multiple convenient options for filing a claim, including online submissions, over-the-phone assistance, and mobile apps. While they strive for efficient claims processing, customer feedback on claim resolutions and payouts has been mixed, with some customers reporting delays or denials.
Financial Strength
State Auto Insurance has received excellent financial strength ratings from AM Best. However, there have been concerns about their financial stability, with Moody's withdrawing their financial strength rating in 2015, and Standard & Poor's not currently listing the company.
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Frequently asked questions
State Auto Insurance has received excellent ratings from AM Best for its financial strength. However, it has faced financial difficulties in the past, including in 2011 when it was downgraded by Standard & Poor's. Moody's also withdrew its financial strength rating in 2015, which was an A3 rating with a negative outlook.
State Auto Insurance is a good choice for those who want to add extra coverages to their policy, such as GPS or bail bond coverage. It is also a good option for those who don't mind paying higher premiums for more coverage options and below-par customer service.
State Auto Insurance offers a wide range of insurance products, including auto, home, marine, farm, and business insurance. They also have an A+ rating with the BBB. The company provides 24/7 customer support, online account management, and various discounts to help reduce premiums.
