Are you looking for a trustworthy and reputable insurance company that can provide you with the best coverage and service?
If so, you might want to consider Old Republic Security Assurance Company based in Illinois. This company is one of the leading providers of insurance products and services in the United States, with a history of excellence and innovation. I will give you an overview of what this company is about, what it offers, and why you should choose it for your insurance needs.
What is Old Republic Security Assurance Company?
Old Republic Security Assurance Company is a foreign insurance company that was incorporated in 1977 and is based in Chicago, Illinois. It is a subsidiary of Old Republic International Corporation, a publicly traded company that is one of the nation’s 50 largest shareholder-owned insurance businesses. The company operates under the leadership of R. Scott Rager, the president and chief executive officer.
The company specializes in providing insurance products and services for the automotive industry, such as vehicle service contracts, mechanical breakdown insurance, guaranteed asset protection, and credit insurance.
Additionally, the company also offers other types of insurance, such as property and casualty, life and health, and specialty insurance. The company has a market share of 0.02% in the US insurance industry, ranking 1,057th out of 5,965 companies.
What are the company’s partnerships and affiliates?
Old Republic Security Assurance Company has established partnerships and affiliations with various businesses and organizations in the automotive industry and beyond. Some of the company’s partners and affiliates are:
- Old Republic Insured Automotive Services, Inc., a provider of aftermarket products and services for the automotive industry
- Old Republic Aerospace, Inc., a provider of aviation insurance and risk management services
- Old Republic Home Protection Company, Inc., a provider of home warranty plans and services
- Old Republic National Title Insurance Company, a provider of title insurance and related services
- Old Republic Surety Company, a provider of surety bonds and related services
- Old Republic Risk Management, Inc., a provider of alternative risk transfer solutions and services
- Old Republic Specialty Insurance Underwriters, Inc., a provider of specialty insurance products and services
The company also sponsors and collaborates with various industry associations and events, such as the National Automobile Dealers Association, the American Financial Services Association, the Vehicle Protection Association, and the Warranty Chain Management Conference.
What services does the company offer?
Old Republic Security Assurance Company offers a wide range of insurance products and services for individuals and businesses. Some of the company’s main offerings are:
Vehicle Service Contracts:
These are agreements that provide coverage for the repair or replacement of specified parts or systems of a vehicle due to mechanical breakdown or failure. The company offers various plans and options to suit different needs and budgets, such as basic powertrain, comprehensive, exclusionary, high-tech, and hybrid/electric vehicle plans. The company also offers additional benefits, such as roadside assistance, rental car reimbursement, trip interruption, and tire and wheel protection.
Mechanical Breakdown Insurance:
This is a type of insurance that covers the cost of repairing or replacing specified parts or systems of a vehicle due to mechanical breakdown or failure. The company offers this product as an alternative to vehicle service contracts, with similar coverage and benefits, but with lower premiums and deductibles. The company also offers this product for motorcycles, recreational vehicles, and commercial vehicles.
Guaranteed Asset Protection:
This is a type of insurance that covers the difference between the actual cash value of a vehicle and the outstanding loan balance in the event of a total loss or theft. The company offers this product to protect customers from owing more than their vehicle is worth, and to help them avoid financial hardship and negative equity. The company also offers additional benefits, such as deductible reimbursement, primary insurance settlement, and waiver of early termination fees.
Credit Insurance: This is a type of insurance that covers the payment of a loan or lease in the event of death, disability, or involuntary unemployment of the borrower or lessee. The company offers this product to protect customers from defaulting on their obligations, and to help them maintain their credit rating and financial stability. Additionally, the company also offers this product for personal and business loans, mortgages, and credit cards.
The company also offers other types of insurance, such as property and casualty, life and health, and specialty insurance, depending on the customer’s needs and preferences. Furthermore, the company has a wide network of agents, dealers, and brokers who can help customers find the best insurance solutions for them.
The company’s insurance products and services are available in all 50 states and the District of Columbia, as well as in some international markets, such as Canada, Mexico, and Puerto Rico. The company’s policies are subject to the laws and regulations of the jurisdiction where they are issued and enforced.
How can you contact the company?
If you want to contact the company for any inquiries, complaints, or feedback, you can use the following information:
| Contact Information | Details |
|---|---|
| Phone | (312) 346-8100 |
| Address | 307 North Michigan Avenue, Chicago, IL, 60601, USA |
| Customer Service Contact | (800) 331-3780 |
| info@orsac.com | |
| Operating Hours | Monday to Friday, 8:00 AM to 5:00 PM (Central Time) |
| Fax | (312) 346-8810 |
You can also visit the company’s website at www.orsac.com for more information and resources.
What are the company’s financial details?
Old Republic Security Assurance Company is a financially sound and stable company that has a strong track record of performance and growth. Some of the company’s financial details are:
Premium Costs: The company’s premium costs vary depending on the type, amount, and duration of coverage, as well as the customer’s age, health, driving history, and credit score. The company offers competitive and affordable rates that are based on actuarial analysis and market research. The company also offers flexible payment options, such as monthly, quarterly, semi-annual, or annual payments, as well as electronic funds transfer, credit card, or check payments.
Discount and Promotional Offers: The company offers various discounts and promotional offers to attract and retain customers, such as multi-policy, multi-vehicle, loyalty, good driver, good student, low mileage, and safety device discounts. The company also offers special offers and incentives, such as referral bonuses, rewards programs, and sweepstakes.
Financial Strength Ratings: The company has received high ratings from independent rating agencies that evaluate the financial strength and stability of insurance companies, such as A.M. Best, Standard & Poor’s, Moody’s, and Fitch.
The company’s current ratings are:
| Rating Agency | Rating | Outlook |
|---|---|---|
| A.M. Best | A+ (Superior) | Stable |
| Standard & Poor’s | A+ (Strong) | Stable |
| Moody’s | A1 (Good) | Stable |
| Fitch | A+ (Strong) | Stable |
These ratings indicate that the company has a strong ability to meet its financial obligations and claims, and that it has a stable and favorable outlook for the future.
Why choose Old Republic Security Assurance Company?
There are many reasons why you should choose Old Republic Security Assurance Company for your insurance needs. Some of the reasons are:
Experience and Reputation: The company has over 40 years of experience in the insurance industry, and has a reputation of excellence and innovation2. The company has won several awards and recognitions, such as the Dealer’s Choice Award, the Auto Dealer Monthly Award, the Auto Dealer Today Award, and the Better Business Bureau Accreditation.
The company is also a member of various industry associations and organizations, such as the National Association of Insurance Commissioners, the Property Casualty Insurers Association of America, and the American Council of Life Insurers.
Coverage and Service: The company offers comprehensive and customized coverage and service that meet the needs and preferences of customers. The company offers various plans and options that provide protection and peace of mind for customers, as well as additional benefits and features that enhance the value and convenience of the products and services. The company also offers excellent customer service and support, with friendly and knowledgeable staff, easy and fast claims processing, and 24/7 online access and assistance.
Quality and Reliability: The company delivers quality and reliability in its products and services, with high standards of professionalism and integrity. The company uses state-of-the-art technology and systems to ensure accuracy and efficiency in its operations, as well as to provide security and privacy for customers’ information and transactions.
The company also adheres to the highest ethical and legal principles and practices, and complies with all applicable laws and regulations in its business activities.
What are the customer experiences?
The company has received positive and favorable feedback and reviews from its customers, who have expressed their satisfaction and appreciation for the company’s products and services. Some of the customer experiences are:
“I have been a customer of Old Republic Security Assurance Company for over 10 years, and I have never had any problems or issues with them. They have always been responsive, helpful, and courteous, and professional. They have always paid my claims promptly and fairly, and have always offered me the best rates and discounts. I highly recommend them to anyone looking for a reliable and reputable insurance company.” – John D., Illinois
“I have been a customer of Old Republic Security Assurance Company for over 5 years, and I have been very happy and satisfied with their products and services. They have provided me with excellent coverage and service for my vehicle, and have always been there for me when I needed them. They have also given me additional benefits and features, such as roadside assistance, rental car reimbursement, and tire and wheel protection, that have saved me a lot of money and hassle. I trust them with my insurance needs, and I think they are the best in the industry.” – Mary S., Texas
“I have been a customer of Old Republic Security Assurance Company for over 3 years, and I have been very impressed and pleased with their products and services. They have offered me a variety of plans and options that suit my needs and preferences, and have always been flexible and accommodating to my requests and changes. The company has also provided me with outstanding customer service and support, with friendly and knowledgeable staff, easy and fast claims processing, and 24/7 online access and assistance. They are a great company to work with, and I highly appreciate their quality and reliability.” – James R., Florida
The company has also received some negative and critical feedback and reviews from its customers, who have expressed their dissatisfaction and frustration with the company’s products and services.
Some of the negative customer experiences are:
“I have been a customer of Old Republic Security Assurance Company for over 2 years, and I have been very disappointed and unhappy with their products and services. They have charged me high premiums and deductibles, and have denied or delayed my claims for no valid reason. The company have also provided me with poor customer service and support, with rude and unhelpful staff, complicated and slow claims processing, and limited online access and assistance. They are a terrible company to deal with, and I regret choosing them for my insurance needs.” – Lisa M., California
“I have been a customer of Old Republic Security Assurance Company for over 1 year, and I have been very dissatisfied and annoyed with their products and services. The company has offered me low coverage and service for my vehicle, and have failed to deliver on their promises and guarantees. They have also given me no benefits and features, such as roadside assistance, rental car reimbursement, and tire and wheel protection, that would have made my life easier and better. The company has no respect for their customers, and I think they are the worst in the industry.” – Mark T., New York
“I have been a customer of Old Republic Security Assurance Company for over 6 months, and I have been very unhappy and frustrated with their products and services. The company has provided me with misleading and inaccurate information and advice, and have changed their terms and conditions without my consent or knowledge. They have also charged me hidden and extra fees and charges, and have refused to refund or cancel my policy when I requested. They are a dishonest and untrustworthy company, and I highly advise anyone to avoid them at all costs.” – Sarah K., Ohio
How does the company’s claim process work?
The company’s claim process is designed to be simple and convenient for customers, with the following steps:
Step 1: Report the claim. Customers can report their claim online, by phone, by fax, or by mail, depending on the type of claim and the product or service involved. Customers should provide as much information and documentation as possible, such as their policy number, vehicle identification number, date and location of the incident, description and photos of the damage, police report, repair estimate, and receipts.
Step 2: Review the claim. The company will assign a claim representative to handle the claim, and will contact the customer within 24 hours to confirm the receipt of the claim and to explain the next steps. The claim representative will review the claim and the policy, and will verify the coverage and the liability. The claim representative will also inspect the vehicle or the property, and will evaluate the damage and the repair cost.
Step 3: Settle the claim. The company will make a fair and reasonable settlement offer to the customer, based on the policy terms and conditions, the damage assessment, and the market value. The customer can accept or reject the offer, or negotiate for a different amount. The company will issue the payment to the customer or to the repair facility, depending on the customer’s preference and the policy provisions.
How to file a claim with Old Republic Security Assurance Company
If you want to file a claim with the company, you can use the following information:
Online: You can file your claim online by visiting the company’s website at [www.orsac.com] and clicking on the “Claims” tab. You will need to log in to your account or register for a new one, and then follow the instructions and fill out the online form. You can also upload any supporting documents or photos online.
Phone: You can file your claim by phone by calling the company’s toll-free number at (800) 331-3780. You will need to provide your policy number, vehicle identification number, date and location of the incident, description and photos of the damage, police report, repair estimate, and receipts. You can also fax or mail any supporting documents or photos to the company.
Fax: You can file your claim by fax by sending your claim information and documentation to the company’s fax number at (312) 346-8810. You will need to include your policy number, vehicle identification number, date and location of the incident, description and photos of the damage, police report, repair estimate, and receipts.
Mail: You can file your claim by mail by sending your claim information and documentation to the company’s address at 307 North Michigan Avenue, Chicago, IL, 60601, USA. You will need to include your policy number, vehicle identification number, date and location of the incident, description and photos of the damage, police report, repair estimate, and receipts.
What are the company’s renewals and cancelations policy?
The company’s renewals and cancelations are as follows:
Policy Renewal Process: The company will send a renewal notice to the customer at least 30 days before the expiration date of the policy. The renewal notice will include the renewal terms and conditions, such as the coverage, the premium, the deductible, and the payment options. The customer can accept or reject the renewal offer, or request for a change or modification. The customer can also renew the policy online, by phone, by fax, or by mail, depending on the product or service involved.
Cancelation Policy and Fees: The customer can cancel the policy at any time, for any reason, by notifying the company in writing. The customer can also cancel the policy online, by phone, by fax, or by mail, depending on the product or service involved. The company will refund the unused portion of the premium, minus any applicable fees and charges, such as cancelation fees, administrative fees, and service fees. The company will issue the refund within 30 days of receiving the cancelation request.
Grace Periods: The company will provide a grace period of 10 days for the customer to pay the premium after the due date. The company will not cancel the policy or deny the coverage during the grace period, unless the customer fails to pay the premium by the end of the grace period. The company will send a notice of cancelation to the customer if the premium is not paid by the end of the grace period.
What are the company’s employment opportinities ?
The company provides an array of employment opportunities and internships for individuals keen on becoming part of its workforce and contributing to its accomplishments.
With diverse roles available across multiple departments and functions, individuals can explore positions in sales, marketing, underwriting, claims, customer service, accounting, finance, human resources, information technology, and legal domains.
Additionally, the company extends internship programs specially designed for students, offering valuable hands-on experience and opportunities for professional growth. The company’s commitment to providing a wide range of job openings and internship opportunities caters to the aspirations and ambitions of qualified and motivated individuals aiming to be part of a dynamic and successful team.
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Greetings, I’m Evans Odundo, a dedicated professional holding a Master’s Degree in Software Engineering from Daystar University.
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