Platte River Insurance Company, Nebraska: Outline, Phone Number, Email Address, Finances, Coverage, Claims & Reviews

Platte River Insurance Company: Your Trusted Shield in a World of Uncertainty.

An image illustration of Platte River Insurance Company
Platte River Insurance Company: Your Trusted Partner for Comprehensive Coverage

 

A Look at Nebraska’s Top Insurance Provider Platte River Insurance Company stands as one of Nebraska’s most trusted and dependable insurance providers.

This company has a long history of serving the insurance needs of individuals and businesses in the state.

In this blog post, we’ll delve into the company’s specifics, including:

Essential details, services, financials, coverage, claims, legal and compliance matters, renewals and cancellations, corporate culture, and customer experiences.

Additionally, we’ll provide some links for further information about Platte River Insurance Company and its offerings.

Company Overview

History and Founding Year:

Established in 1954 as a mutual insurance company in Omaha, Nebraska, Platte River Insurance Company was originally known as Mutual Fire Insurance Company of Nebraska.

It later rebranded to Platte River Insurance Company in 1998.

The company operates as a subsidiary of Capitol Insurance Company, which is part of the CapSpecialty Insurance Group.

Itself owned by Alleghany Corporation, a diversified holding company with interests in property and casualty insurance, reinsurance, and other businesses.

CEO and Founding Year:

At the helm of Platte River Insurance Company is CEO and President Stephen Sills, who also serves as the CEO and President of Capitol Insurance Company and the CapSpecialty Insurance Group.

The company’s leadership team includes John Lauer as the Chief Financial Officer, David Pauly as the Chief Operating Officer, Susan Chmieleski as the Chief Underwriting Officer, and Jeff Lamb as the Chief Claims Officer.

Market Share and Company Size:

In Nebraska, Platte River Insurance Company holds a market share of 0.02%, ranking 87th among all insurers in the state.

As of March 31, 2023, the company’s financials comprise total assets of $245 million, total liabilities of $173 million, and policyholders’ surplus of $72 million.

With an A.M. Best Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of a+ (Excellent), the company demonstrates its strong ability to meet ongoing insurance obligations.

Essential Information

Below is a summary of key information about Platte River Insurance Company:

Field Information
Phone Number 800-475-4450
Address P.O. Box 5900 Madison, Wisconsin 53705-0900
Customer Service Contact customerservice@capspecialty.com
Policy Details policyinfo@capspecialty.com
Email Address info@capspecialty.com
Fax Number 608-829-4201
Operating Hours Monday-Friday 8:00 AM – 5:00 PM Central Time

Services and Products

Platte River Insurance Company offers a range of insurance products and services for individuals and businesses in Nebraska, including:

  1. Auto insurance: This covers bodily injury, property damage, medical expenses, and vehicle damage due to accidents.

Optional coverages include collision, comprehensive, uninsured/underinsured motorist, rental reimbursement, towing and labor, and roadside assistance.

  1. Home insurance: This covers dwelling, personal property, liability, and additional living expenses in case of fire, theft, vandalism, or other covered perils. Additional endorsements are available.
  2. Life insurance: Providing a lump sum payment to beneficiaries upon the policyholder’s death, with options for term life and permanent life policies, and various riders.
  3. Business insurance: Covering property, liability, income, and employees in case of loss or lawsuits, with a variety of coverage options.

The company also offers specialized packages for farms, nonprofits, and healthcare facilities, as well as international coverage and temporary policies for specific needs.

Financial Aspects

Platte River Insurance Company aims to provide competitive and cost-effective premium options.

It offers flexible payment plans, discounts, and promotions to assist customers in managing their finances.

Payment options include monthly, annual, quarterly, and semi-annual plans.

Discounts encompass:

  • Multi-policy
  • Multi-car.
  • Safe driver.
  • Home security.
  • Loyalty discounts.

The company has a strong claim payout ratio, paying out 69.8% of its premiums in 2022, surpassing the industry average of 62.1%.

This reflects its financial stability and commitment to meeting customers‘ needs.

Coverage Details

Platte River Insurance Company lets you choose the best insurance plan for you.

You can pick how much money you want to pay, how much money you want to get back, and what extra things you want to cover.

How much money the insurance plan covers for hurting someone else, damaging your own things, or getting hurt yourself depends on the specific plan you choose.

When you have a problem and need to use your insurance plan, Platte River Insurance Company makes it easy and quick for you.

Follow these steps:

  • Tell them what happened: You can tell them online, by phone, by email, or by fax.

You need to give them some basic information like your name, your policy number, when and where the problem happened, and what the problem was.

You can also send them any pictures, videos, or papers that show what happened.

  • Wait for them to check: Someone from the company will call you within one day of telling them what happened.

They will check your plan details, how much money you can get back, and what things are not covered.

Additionally, they will also send someone to look at the damage and see how much it will cost to fix or replace it.

They may also talk to other people who saw what happened or who know more about it.

  • Get your money: After they check everything, they will tell you if they agree with your problem and how much money they will give you.

Furthermore, they will also tell you how they will give you the money and when.

Additionally, they will also answer any questions you have and tell you what you need to do next.

They will try to give you the money as soon as possible, depending on how you want to get it.

They usually agree with your problem and give you the money within 10 days, which is faster than most other companies that take 15 days.

Legal and Compliance

The company prioritizes safeguarding customers’ personal and financial information.

It maintains a privacy policy outlining information collection, use, and security, as well as terms and conditions governing website and service usage.

The policy covers data collection, use, sharing, safeguarding, and customers’ rights regarding their information.

Company Culture

Platte River Insurance Company fosters a positive company culture founded on four core principles:

  1. Customer focus: Putting customers first, offering responsive service, and treating them with respect and honesty.
  2. Employee engagement: Valuing employees, providing a supportive work environment, and offering opportunities for development and growth.
  3. Innovation: Encouraging creativity, problem-solving, and investment in technology and research.
  4. Social responsibility: Supporting charitable causes and adopting sustainable practices.

Customer Experiences

Platte River Insurance Company boasts high customer satisfaction and loyalty, with positive reviews and ratings across various platforms.

Customers appreciate the company’s helpful, friendly, and responsive service, reasonable rates, comprehensive coverage, and fast claims processing.

FAQs

Q.) How do I obtain a quote from Platte River Insurance Company?

You can request a quote from them by visiting their website and completing a straightforward online form.

Alternatively, you can reach out to them by calling 800-475-4450 or emailing them at info@capspecialty.com.

Another option is to get in touch with your local agent or broker who works with Platte River Insurance Company.

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