Equity Insurance Company: Basic Information, Services & Products, Coverage Details, Company Details

If you’re looking for a reliable and affordable auto insurance company, you might want to check out Equity Insurance Company.

This is a privately held carrier that specializes in non-standard auto insurance, which means they don’t use credit scoring to determine your rates.

They have been in business since 1965, and they offer great service and fair claims handling to their customers.

In this article, I’ll give you an inside look at Equity Insurance Company and everything you need to know about their policies, products, services, and more. Let’s get started!

Equity Insurance CompanyCourtesy: Equity Insurance Company
Equity Insurance Company
Courtesy: Equity Insurance Company

Basic Information

First of all, let me give you some basic information about Equity Insurance Company. Here are their contact details:

Information Details
Phone Number 1-800-777-0404
Address 616 S Boston Ave #300, Tulsa, OK 74119
Customer Service Contact Phone: 1-800-777-0404
Email: customerservice@equityins.net
Policy Details Access your policy details online by
logging into your account on their
website.
Email Address info@equityins.net
Fax Number 1-918-582-5596
Operating Hours Monday-Friday
8:00 AM – 5:00 PM (CST)

Services & Products

Next, let me tell you about the services and products that Equity Insurance Company offers.

They mainly focus on auto insurance, but they also have some other options for you to choose from.

Here are some of the types of insurance they offer:

  • Auto Insurance: This is their core product, and they offer liability, collision, comprehensive, medical payments, uninsured/underinsured motorist, and personal injury protection coverage. They also have optional coverages such as towing and labor, rental reimbursement, and custom equipment.
  • Home Insurance: This is a new product that they launched in 2020, and they offer coverage for your dwelling, personal property, liability, medical payments, loss of use, and other structures. They also have optional coverages such as replacement cost, water backup, identity theft, and personal injury.
  • life insurance: This is another new product that they launched in 2020, and they offer term life insurance with coverage amounts ranging from $25,000 to $250,000. They also have optional riders such as accidental death benefit, waiver of premium, and child term.

Financial Details

Now that you know what Equity Insurance Company offers, let me tell you about their financial details.

Here are some of the factors that affect your premium costs and payment options:

  • Coverage Level: The coverage level is the amount of protection that you get from your insurance policy. It depends on the type and amount of coverage that you choose. For example, liability coverage pays for the damages that you cause to others in an accident; collision coverage pays for the damages that your car suffers in an accident; comprehensive coverage pays for the damages that your car suffers from other causes such as theft, fire, or vandalism. The higher the coverage level, the higher the premium cost.
  • Payment Options: The payment options are the ways that you can pay for your insurance policy. Equity Insurance Company offers various payment options such as monthly, quarterly, semi-annually, or annually. They also accept different payment methods such as credit card, debit card, check, money order, or electronic funds transfer. They also offer discounts and promotional offers for certain payment options such as paying in full, paying online, or enrolling in automatic payments.

Claims

Another important aspect of Equity Insurance Company is their claim process.

Here are some of the steps and details that you need to know about filing and tracking a claim with them:

  • Claim Process: The claim process is the procedure that you need to follow to report and resolve a claim with Equity Insurance Company. The first step is to contact them as soon as possible after an accident or a loss. You can call their toll-free number 1-800-777-0404 or use their mobile app to file a claim online. You will need to provide some information such as your policy number, driver’s license number, vehicle registration number, accident details, police report number, witness information, and photos of the damage. The second step is to get an estimate of the repair cost from one of their approved repair shops or from your own choice of repair shop. You will need to submit the estimate to them for approval. The third step is to get your vehicle repaired and receive your payment. You can choose to have your payment sent directly to the repair shop or to yourself. You can also choose to have your payment sent by check or by electronic funds transfer.

Coverage Details

Another crucial aspect of Equity Insurance Company is their coverage details.

Here are some of the terms and conditions that you need to know about their coverage options:

Company Details

Another interesting aspect of Equity Insurance Company is their company details.

Here are some of the facts and figures that you need to know about their history, leadership, performance, and reputation:

  • History and Founding Year: Equity Insurance Company was founded in 1965 by Robert E. Lorton Jr., who was the publisher of Tulsa World newspaper. He started the company as a way to provide affordable auto insurance to high-risk drivers who were rejected by other carriers. He named the company Equity because he believed in treating everyone fairly and equally.
  • CEO and Leadership Team: The current CEO of Equity Insurance Company is John F. Collier Jr., who has been leading the company since 2018. He has over 30 years of experience in the insurance industry and has held various executive positions at other companies such as Progressive, Safeco, and Farmers. He is supported by a leadership team that consists of:
    • David L. Collier: President and Chief Operating Officer
    • James R. Lorton III: Executive Vice President and Chief Financial Officer
    • Mark A. Lorton: Executive Vice President and Chief Marketing Officer
    • Robert E. Lorton IV: Executive Vice President and Chief Information Officer
    • Jennifer L. Collier: Executive Vice President and Chief Human Resources Officer

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