Haris Ashley
Pekin Insurance has received mixed reviews from its customers. While some customers have praised the company for its excellent customer service and low premiums, others have complained about issues with claims handling, policy cancellations, and non-responsive adjusters. In terms of financial strength, Pekin Insurance has been reaffirmed with an A- (Excellent) rating by AM Best, a global credit rating agency specializing in the insurance industry. This rating reflects the company's financial strength and ability to fulfill its obligations to policyholders. However, it's important to note that ratings and reviews can vary based on individual experiences and regional factors. Overall, potential customers should carefully consider their unique needs and compare quotes, coverage options, and reviews from various insurers before making an informed decision about their insurance provider.
| Characteristics | Values |
|---|---|
| Customer Satisfaction Rating | 1.3/5 from 32 reviews on Yelp |
| Financial Strength Rating | A- (Excellent) by AM Best |
| Types of Insurance Offered | Auto, Home, Life, Health, and Business Insurance |
| Geographical Presence | Arizona, Illinois, Indiana, Iowa, Michigan, Ohio, Utah, and Wisconsin |
| Number of Employees | Nearly 700 |
| Number of Agencies | Nearly 1,200 independent agencies |
| Year Established | 1921 |
| Average 6-Month Car Insurance Policy Cost | $403 |
Explore related products
![Texas Property and Casualty Insurance License Exam Prep - Full-Length Practice Tests, Secrets Study Guide and Review: [Detailed Answer Explanations]](https://m.media-amazon.com/images/I/610og6OB+0L._AC_UY218_.jpg)
What You'll Learn
Pekin Insurance's 'AM Best' Financial Strength Rating
Pekin Insurance has received an "AM Best" financial strength rating of A- (Excellent) for 2024-25. This rating is an independent opinion of the company's financial strength and ability to meet its ongoing insurance policy and contract obligations. It reflects the agency's evaluation of the company's financial strength and ability to fulfil its obligations to policyholders.
AM Best is a global credit rating agency that specializes in assessing and rating companies within the insurance industry. Their ratings take into account various factors, including underwriting performance, risk management, and capitalization. In the case of Pekin Life Insurance Company, AM Best considered the company's highly diverse investment portfolio and good credit quality when determining their rating.
Pekin Insurance recognizes the importance of transparency and keeping its stakeholders informed about its financial standing. They are confident that their recent underwriting actions and geographic expansion will positively impact their future AM Best ratings, leading to a stable outlook.
As a reliable insurance provider, Pekin Insurance offers a wide array of coverage options, has a strong reputation for customer service, and provides potential discounts for its customers. Their commitment to policyholders is clear, and they strive to maintain their position as a trusted insurance company.
American Family Insurance: Permissive Auto User Insurance Explained
You may want to see also
Explore related products
Customer service reviews
Customer reviews of Pekin Insurance are mixed. On Yelp, the company has an average rating of 1.3 from 32 reviews, indicating that most customers are generally dissatisfied. However, individual reviews on Yelp are more positive, with customers praising the company for taking care of their insurance claims and providing excellent customer service. One customer shared that Pekin took care of everything after a garage fire and made them "100% whole". Another customer shared that Pekin fixed their car and sent a claim to subrogation, even though the other driver had substandard insurance. This customer received a check from Pekin to mitigate their losses from the deductible.
On WalletHub, the reviews are also mixed. Some customers have given the company a negative rating, citing issues with underinsurance and poor claims handling. One customer shared that their house was set on fire by a plumbing company, and Pekin Insurance only covered 50% of the damages. Another customer complained about the company's decision to cancel their homeowners' policy because they had their cars insured through a different company. This customer felt that Pekin had taken their money and run after 29 years of making home insurance policy payments.
However, other customers on WalletHub have given Pekin Insurance positive reviews, praising the company for their prompt and satisfactory settlement of auto claims and home damage. One customer shared that their experience with Pekin was excellent from the start of the insurance process to the end, with everyone being tremendously helpful. This customer specifically mentioned their claim adjuster, Jeff Engle, for his great communication and explanation of the process. Another customer shared that they have had a homeowners insurance policy through Pekin for 29 years and have been happy with the service.
Overall, while there are some negative reviews, Pekin Insurance has a strong reputation for customer service, and their commitment to policyholders is clear. The company has been in business since 1921 and currently has nearly 700 employees. They offer a wide array of coverage options, including property and casualty insurance in eight states, and life insurance, Medicare Supplement, and Pre-Need coverage in 22 states.
Progressive Auto Insurance: What Cover Should I Pick?
You may want to see also
Explore related products
Auto insurance reviews
Pekin Insurance has received mixed reviews for its auto insurance services. On WalletHub, the company has 549 user ratings, with some customers praising the company for its low premiums and satisfactory claims settlement. One user mentions that they have had a homeowners insurance policy through Pekin Insurance for 29 years and have had a great experience with the company. Another user mentions that their auto claims were settled promptly and satisfactorily, and they give the company a 5-star rating.
However, there are also several negative reviews on WalletHub, with some customers complaining about issues with claims handling and policy cancellations. One user mentions that their car was totaled in July, and despite multiple attempts to communicate with the company, the issue still remains unresolved. Another user mentions that they received a letter from Pekin stating that their homeowners policy was being canceled because they had their cars insured through a different company.
On Yelp, Pekin Insurance has an average rating of 1.3 from 32 reviews, indicating that most customers are generally dissatisfied with the company's services. Several negative reviews mention issues with policy cancellations, billing, and customer service. However, there are also some positive reviews, with one customer praising the company for taking care of their insurance needs after a garage fire and a car accident.
In terms of financial strength, Pekin Insurance Group and its affiliated companies received an A- (Excellent) rating by AM Best, a global credit rating agency specializing in the insurance industry. This rating reflects the company's financial strength and ability to fulfill its obligations to policyholders.
Overall, while Pekin Insurance offers competitive pricing and satisfactory claims settlement for some customers, there are also a significant number of negative reviews highlighting issues with customer service, policy cancellations, and billing. Potential customers should carefully consider their priorities and compare quotes and coverage from various insurers before making a decision.
Liability Auto Insurance: NYC's Bus-Only Option
You may want to see also
Explore related products
Home insurance reviews
Pekin Insurance has received mixed reviews online. One Google review by Ian Mitchell gives the insurance company a rating of one out of five stars. In his review, Mitchell states that his mother had to hire a lawyer twice to get the settlement she was owed. He advises others to "stay far away" from the company and its employees.
While this is just one perspective, it highlights the importance of considering multiple factors when choosing an insurance provider. It is always a good idea to research a company's reputation and read reviews from a variety of sources before making any decisions about your home insurance coverage.
When considering home insurance, it is essential to evaluate not only the cost of the policy but also the quality of the coverage and the ease of filing claims and receiving settlements. Reading reviews and researching the company's track record can help you make an informed decision about the best insurance provider for your needs.
In addition to online reviews, it may be helpful to seek recommendations from trusted friends or family members who have experience with different insurance companies. You can also contact the insurance company directly to ask questions and clarify any concerns you may have about their policies and claim settlement process.
By taking the time to thoroughly research and compare different insurance providers, you can ensure that you make a well-informed decision to protect one of your most valuable assets—your home.
Navy Federal: Auto Insurance Options
You may want to see also
Explore related products
![Pekin Central ( Pékin Central ) [ NON-USA FORMAT, PAL, Reg.0 Import - France ]](https://m.media-amazon.com/images/I/61d4DC3tgkS._AC_UL320_.jpg)
Business insurance
Pekin Insurance is a reliable insurance provider for customers in the regions they serve, offering a wide array of coverage options, including business insurance. They have a strong reputation for customer service and provide a variety of potential discounts. Their online presence may not be as robust as larger insurers, and their coverage is geographically limited. Still, their commitment to policyholders is clear.
The company has been in business since 1921 and provides multiple lines of insurance. They offer property and casualty insurance in Arizona, Illinois, Indiana, Iowa, Michigan, Ohio, Utah, and Wisconsin, with nearly 1,200 independent agencies in these eight states. Their affiliate, Pekin Life Insurance Company, sells individual life insurance, Medicare Supplement, and Pre-Need coverage in 22 states.
Pekin Insurance has received an "AM Best" Financial Strength Rating for 2024-25, indicating a stable outlook and a commitment to transparency. Their FSR rating of "A-" (Excellent) reflects their highly diverse investment portfolio of excellent credit quality.
In terms of business insurance, Pekin Insurance offers coverage for small businesses, which may be particularly relevant given that 61% of data breaches directly affect small businesses. They also provide coverage for contractors, who are at a higher risk of cyber-attacks than other types of businesses.
While Pekin Insurance does not disclose specific ratings for its business insurance offerings, their overall positive reputation and commitment to customer service suggest that they are a reliable option for business insurance. However, it is always recommended that potential customers compare quotes and coverage from various insurers to ensure that Pekin meets their unique needs.
Allstate vs Progressive: Cheaper Auto Insurance in South Carolina?
You may want to see also
Frequently asked questions
Pekin Insurance has an average rating of 1.3 from 32 reviews on Yelp, indicating that most customers are generally dissatisfied.
Pekin Insurance Group and its affiliated companies have been reaffirmed with an A- (Excellent) financial strength rating by AM Best, a global credit rating agency specializing in the insurance industry.
Pekin Insurance has a strong reputation for customer service, with some reviews highlighting their responsiveness, helpfulness, and commitment to policyholders. However, other reviews mention issues with non-responsive adjusters and a lack of communication.
Pekin Insurance is known for offering competitive rates that are often lower than those of its competitors. For example, their six-month car insurance policy is about 54% cheaper than the national average.
Some negative reviews mention issues with policy cancellations, unexpected charges, and difficulties in resolving claims. There are also mentions of underinsurance and low settlement offers.
![Les 55 jours de Pékin [Édition Collector]](https://m.media-amazon.com/images/I/61XwlE9r98S._AC_UL320_.jpg)
