Assurance Auto Insurance Review
Assurance is a diversified insurance and finance company that offers a wide range of solutions to customers in varying life situations. Auto insurance is one of its most popular offerings, and Assurance additionally offers many other forms of coverage, as well as personal and business loans, mortgages, refinancing programs, debt relief services, and much more.
In this guide, we’ll take a look at how Assurance’s auto insurance division works, what kinds of coverage you can purchase, and what customers and third-party agencies have to say about the company.
Assurance bases its business model on technological innovation, operating at the crossroads of commerce and data science. It combines advanced data analytics with traditional customer service to deliver a unique experience designed to save customers money on their insurance essentials.
On its website, Assurance emphasizes that it creates a “unique experience for every consumer,” leveraging advanced data science and data analysis technologies to gain a personalized understanding of each client’s individual needs. Based on these insights, the Assurance system guides new customers to the insurance policies and financial products that best match their stated goals.
Assurance allows customers in most U.S. states to complete their shopping experience entirely online. Alternatively, customers can elicit the assistance of a live, licensed agent. Assurance operates as a wholly owned subsidiary of Prudential Financial, a Fortune 500 company based in Newark, New Jersey.
What Kinds of Auto Insurance Does Assurance Offer?
Assurance operates throughout the United States, and the availability of its auto insurance products may vary by region. However, customers throughout the country can count on Assurance for mandatory forms of coverage as well as common and standard types of optional coverage.
In many U.S. jurisdictions, liability insurance functions as the minimum form of coverage all drivers are required to carry. It protects the policyholder from financial liability in the event that he or she causes property damage, bodily injury to another driver(s) or pedestrian(s), or both.
This basic form of coverage fulfills the legal requirements motorists must meet before driving in most states. However, in the absence of other forms of coverage, liability insurance leaves policyholders exposed to many financial risks. For example, it will not cover the costs of your own medical treatment or damage to your own vehicle if you are involved in an accident and are deemed to be at fault. As such, many people choose to mitigate these risks by carrying additional forms of coverage.
Motorists seeking insurance that covers their own vehicles can choose from two main types of policies, both of which Assurance offers:
- Collision coverage. Collision coverage will finance the cost of repairing or replacing your vehicle if it is damaged or destroyed in an accident, regardless of who was at fault. In essence, it covers pretty much any damage that might occur as the result of normal driving and vehicle usage.
- Comprehensive coverage. Designed to protect vehicle owners from risks not related to driving, comprehensive coverage provides financial protections from perils like theft, vandalism, fire, and weather damage.
In many cases, vehicle coverage is optional. However, you may be required to carry it by your bank or financial institution if you have an outstanding loan balance on a car you leased or purchased.
Standard medical coverage is usually called medical payments coverage. It will financially protect you and all other passengers in your vehicle if anyone requires emergency care, medical treatments, and/or rehabilitative services as the result of an auto accident. As with collision coverage, these plans protect your vehicle’s occupants no matter who caused the car crash in question.
A second, more complete form of medical coverage is known as personal injury protection or PIP coverage. In addition to medical payments, PIP plans also cover costs such as lost wages and expenses associated with hiring home healthcare or domestic help to assist you as you recover from an accident.
Some states mandate that all drivers carry medical payments coverage, while it remains optional in others. The same is true of PIP coverage.
Uninsured and Underinsured Motorist Coverage
If you are involved in an accident caused by another driver who does not have insurance or does not have enough insurance to pay your property damage and/or medical costs, you can end up on the hook for the balance. Uninsured and underinsured motorist coverage closes off this coverage gap, ensuring that you are fully protected in such an event.
This type of auto insurance is required in a few jurisdictions, but is otherwise voluntary and nevertheless highly recommended.
How Does the Assurance Process Work?
The Assurance process is built around delivering custom quotes carefully based on unique and personal factors. It unfolds across several steps:
- Visit Assurance’s auto insurance landing page and complete the questionnaire. It only takes a few minutes.
- Assurance uses the information you supplied to create a custom profile for your insurance needs and offer recommendations based on the details you entered.
- Apply entirely online if you prefer to do so and if Assurance supports 100% online purchases in Ashburn. If not, you can complete the process by calling Assurance to speak to a licensed agent on demand.
- Assurance will evaluate your information and request, determine your eligibility, and make an approval decision.
- Lock in your quoted rate by completing a policy purchase online or by phone.
If you decide to purchase a policy from Assurance, the company does everything in its power to ensure your plan activates as quickly as possible. In most cases, coverage becomes valid within 24 hours of purchase.
One important note: if you do decide to purchase an Assurance policy with the help of an agent, your premiums will not be affected. You will pay the same price regardless of how you elect to complete your transaction.
What Others Are Saying About Assurance
Assurance is an accredited member of the Better Business Bureau (BBB), and has been since 2016. As of September 2020, the company holds an A+ rating on the BBB network, representing the highest possible level of trustworthiness.
On Trustpilot, Assurance has generated a very impressive profile. The company had 714 reviews as of September 2020, which combined to give the company a sparkling average score of 4.8 out of 5. Incredibly, 93% of those reviews awarded Assurance a perfect 5 out of 5, while 96% gave the company a score of at least 4 out of 5.
Assurance has generated impressive customer satisfaction ratings, and the company makes it very easy and convenient to purchase competitively priced auto insurance policies online or by phone. If you’re in the market for a new provider, you have nothing to lose by taking a few minutes to request a quote.