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Is esurance a good insurance company?

Last Updated: 01/26/2012 09:17 AM

The leading provider of online car insurance policies is esurance, which has built a reputation as an online insurance company that provides fast and easy coverage at the lowest rates possible. The esurance company is not like other insurance providers, and does not have offices or independent brokers. Policies are sold online, not through brokers, and the reduced overhead is how they can offer low rates. In 2011, esurance was purchased by Allstate Insurance for about $1 billion.

Financial Rating
A.M. Best gives esurance a rating of A-. This rating means that the company is on reasonably sound financial footing, but still has the potential for a great deal of improvement. For individuals purchasing insurance, an A- rating is probably not a cause for concern, but investors are encouraged to do further research before committing a great deal of capital into the esurance brand.

Customer Satisfaction
As with any insurance company, customer satisfaction is mixed, but the online nature of esurance makes it possible to gain a much higher percentage of favorable reviews online. The biggest complaints deal with claim settlements, but the overall attitude of customers is that esurance is a dependable company to do business with.

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Company Availability
The company began serving car insurance customers in only 4 states in 1999, but has expanded their reach until today they are able to serve nearly 90% of the national population. The company is licensed to sell insurance in 30 states, and has plans to expand into new domains in the near future.

The Bottom Line
If you are thinking about purchasing car insurance from esurance, rest assured that the company is stable and relatively well-liked by current and previous customers. The largest drawback with esurance is that they do not currently offer coverage to all 50 states, but the company is still new when compared to other leading insurers and has already claimed a respectable portion of the market share.

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