Merastar Insurance Company, Illinois: Contacts, Services, Finances, Coverage, Claims, Reviews

Merastar Insurance Company is a property and casualty insurance provider that operates in the United States.

An image illustration of Merastar Insurance Company
Merastar Insurance Company specializes on property insurance

The company was founded in 1978 in Illinois and is a subsidiary of Kemper Corporation, a diversified insurance holding company.

The company’s CEO is James A. Schulte, who leads a team of experienced and dedicated professionals.

Merastar Insurance Company has a market share of 0.02% and ranks 1,016th among the property and casualty insurers in the US.

Merastar Insurance Contacts

The following table summarizes some of the basic information about Merastar Insurance Company:

Phone Number Address Customer Service Contact Policy Details Email Address Fax Number Operating Hours
312-661-4600 200 East Randolph Street, Suite 3300, Chicago, IL 60601 1-800-637-2782 Auto and homeowners insurance policies with various coverage options and deductibles customerservice@merastar.com 312-661-4700 Monday to Friday, 8:00 AM to 5:00 PM (Central Time)

Merastar Insurance Services and Products

Merastar Insurance Company offers two main types of insurance products: auto and homeowners insurance.

The company specializes in providing insurance solutions for employees of participating companies and organizations through payroll deduction or direct billing.

Some of the benefits of choosing Merastar Insurance Company are:

Merastar Insurance Company does not offer international coverage or temporary or short-term policies. However, the company does offer some special packages or bundled services, such as:

  • Identity Fraud Expense Coverage: This coverage provides up to $25,000 for expenses incurred as a result of identity theft, such as legal fees, lost wages, credit monitoring, and more
  • Equipment Breakdown Coverage: This coverage provides up to $50,000 for the repair or replacement of household appliances, electronics, heating and cooling systems, and more that are damaged by mechanical or electrical breakdown
  • Service Line Coverage: This coverage provides up to $10,000 for the repair or replacement of underground service lines, such as water, sewer, gas, electric, and more that are damaged by wear and tear, corrosion, freezing, or tree roots

Merastar Insurance Financial Details

Merastar Insurance Company has a strong financial position and stability. The company has an A.M.

Best Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent).

These ratings indicate that the company has an excellent ability to meet its ongoing insurance obligations.

The premium costs of Merastar Insurance Company vary depending on the type of policy, the coverage level, the deductible amount, the location, the vehicle type, the driving record, the credit score, and other factors.

The company offers several payment options for its customers, such as:

Merastar Insurance Company also offers various discounts and promotional offers for its customers, such as:

  • Multi-Policy Discount: This discount applies to customers who have both auto and homeowners insurance policies with the company
  • Safe Driver Discount: This discount applies to customers who have no accidents or violations in the past three years
  • Anti-Theft Device Discount: This discount applies to customers who have an approved anti-theft device installed in their vehicle
  • Home Security System Discount: This discount applies to customers who have an approved home security system installed in their home

The claim payout ratio of Merastar Insurance Company is not publicly available. However, the company claims to have a fast and fair claims process that ensures customer satisfaction4.

Coverage Details

Merastar Insurance Company offers various coverage options and deductibles for its auto and homeowners insurance policies. The coverage limits depend on the policy type and the customer’s choice. Some of the coverage options and deductibles are:

Merastar Insurance Company also has some policy exclusions that customers should be aware of. Some of the policy exclusions are:

Merastar Insurance Company also offers some add-ons or riders for its policies, such as:

Merastar Insurance Claims

The company has a simple and convenient claims process for its customers.

Customers can report a claim online, by phone, or by mail.

The company provides the following information and instructions for filing a claim:

Merastar advises customers to do the following after an accident or a loss:

  • Take photos of the damage and the scene
  • Get the names and contact information of any witnesses
  • Exchange information with the other parties involved
  • Contact the police if necessary
  • Do not admit fault or make any statements to anyone except the police or the company
  • Do not sign any documents or accept any payments from anyone except the company
  • Keep all receipts and documents related to the incident

Repairs and Replacements

The company also provides the following information and instructions for getting repairs or replacements:

Auto Repairs or Replacements: The company will inspect the vehicle and provide an estimate of the repair cost. Customers can choose their own repair shop or use one of the company’s preferred shops.

The company will pay the repair shop directly or reimburse the customer if they have already paid.

If the vehicle is totaled, the company will pay the actual cash value of the vehicle minus the deductible

Home Repairs or Replacements: The company will inspect the home and provide an estimate of the repair or replacement cost.

Customers can choose their own contractor or use one of the company’s preferred contractors. The company will pay the contractor directly or reimburse the customer if they have already paid.

If the home is uninhabitable, the company will pay for additional living expenses up to the limit of the policy

The company strives to resolve claims as quickly and fairly as possible.

Customers can check the status of their claims online, by phone, or by email

Customer Experiences

Merastar Insurance Company has mixed customer reviews and ratings on various platforms.

Some customers praise the company for its low rates, easy payment options, and friendly service.

However, some customers complain about the company’s poor communication, slow claims process, and low coverage limits.

Here are some examples of customer reviews and ratings from different sources:

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