Esurance Car Insurance Review
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UPDATED: Jul 14, 2021
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Esurance is a relatively new kid on the block, so to speak, when it comes to car insurance companies. This company opened its virtual doors in 1998 and is an online only company. What this means for you is that you cannot visit an office and speak to an agent; everything is handled online.
You can do an online car insurance quote comparison right now by entering your zip code (you can get quotes from many companies)!
Esurance offers a variety of insurance products for you to purchase. They have auto insurance, motorcycle insurance, homeowners insurance, life insurance, health insurance, pet insurance and more. If you are looking for a company with plenty of options, then this may be a good choice for you.
According to Esurance, they offer some of the lowest prices in the insurance industry. The reason that they can offer lower prices is that they save money by only having an online presence. This means they don’t have some of the overhead costs that other insurance companies have.
Esurance Financial Strength Ratings
Esurance might be a new company, but they are a financially sound company. They have a rating of A- from A.M. Best and a rating of A from Standard & Poor’s. In both cases this means that they are considered to be strong financially.
It is important to note that Esurance recently went from a rating of A to a rating of A- from A.M. Best, which changed their rating from excellent to strong. Their rating with Standard and Poor’s has not changed for many years.
Although A- and A are not the highest financial rankings a company can get, these are still very strong rankings. The bottom line for this part of the Esurance car insurance review is that it is considered safe to purchase insurance from Esurance.
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Esurance Car Insurance Customer Care
One of the biggest areas that Esurance has failed is with their customer service. Because all of their business is conducted online, they do not have an in person agent for you to speak to if there is an issue. In addition, according to many online Esurance car insurance reviews, it is difficult to speak with a live person.
People who sign on with Esurance are encouraged to contact Esurance via email. This method of contact may seem impersonal to many people, which may affect the overall ratings that Esurance give to the company.
You need to consider how many options you want in terms of speaking to and seeing agents when you choose your auto insurance company.
The lack of physical agents in local areas can also slow down the claims process when you have an accident. In order to assess your vehicle, they hire an adjustor to take care of the claim. Because they don’t work directly with the company, the process can take a little longer because you are using a middleman.
The bottom line is that Esurance is better for the technology minded who are already taking a step towards doing everything online. This is an exceptional choice for people who want to reduce their environmental impact. You pay your bills online, speak to a rep online, and Esurance doesn’t have offices all over the country with people driving to work.
The Cost of Esurance
There are mixed reports about the savings that you can get when you use Esurance. According to the Esurance website, you can save up to $500 a year. If you read online Esurance care insurance reviews, however, you get a little different picture.
Many people who have used Esurance complain that they are quick to raise their rates and that it is difficult to assess why the rates are being raised. In addition, Esurance charges fees for their auto pay program, which you are required to use if you sign up for Esurance. So you must consider this fee when you compare their rates with other car insurance quotes.
Esurance is one of the few companies that charges fees if you cancel your policy before you contract is up. This fee is reported to be 10% of your remaining contract, which means if you have $600 left on your contract, then your fee will be $60.
Esurance, however, doesn’t hide the fact that there are fees involved. This is part of the Esurance contract, which means that customers shouldn’t be surprised when they are charged these fees.
You will also be required to pay 2 months in advance for your car insurance, and the rest of the payments are broken up into 4 months. This is not unusual, however, as many companies have this type of payment plan.
Before you purchase Esurance, or any other type of insurance for that matter, take a minute to enter your zip code and compare car insurance quotes now!