Shelter Insurance Review: Pros, Cons, and Ratings Explained

Shelter Insurance is a regional insurance company that offers auto, home, life and other types of insurance. It operates in 15 states, mostly in the Midwest and South. In this post, we will review Shelter Insurance’s products, customer service, discounts, ratings and more. We will also compare it to some of the best insurance companies in the market.

Shelter Insurance

 

Pros and Cons of Shelter Insurance

Here are some of the pros and cons of the insurance:

Pros

  • Excellent customer service: The insurance has a low number of complaints and a high customer satisfaction score, according to the National Association of Insurance Commissioners (NAIC) and J.D. Power. It also has a network of local agents who can provide personalized service and advice.
  • Many discounts available: The Insurance offers a variety of discounts to help you save money on your premiums. Some of the discounts include multi-policy, safe driver, good student, loyalty, military and more.
  • Roadside assistance and new car replacement included: The insurance includes roadside assistance and new car replacement in every auto policy, which are usually optional coverages. Roadside assistance covers towing, battery jump, flat tire, lockout and fuel delivery. New car replacement pays for a new car of the same make and model if your car is totaled within the first year or 15,000 miles.

Cons

  • Not offered in every state: The insurance only operates in 15 states: Arkansas, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, Nevada, Oklahoma, Tennessee and Texas. If you live outside these states, you will not be able to buy a policy from Shelter Insurance.
  • Limited online tools: The insurance has a user-friendly website and mobile app, but they do not offer many online features. You can get a quote, pay your bill, file a claim and access your policy online, but you cannot manage your policy, change your coverages, or chat with an agent online.
  • Higher home insurance rates: The insurance’s home insurance rates are higher than the national average, according to our analysis. The average annual premium for Shelter home insurance is $2,136, while the national average is $1,477. However, your actual rate may vary depending on your location, home value, coverage options and other factors.

Shelter Insurance Ratings

The insurance has a strong financial rating and a good reputation for customer service. Here are some of the ratings that the insurance has received from different sources:

  • A.M. Best: A (Excellent). This rating indicates that the insurance has a strong ability to meet its financial obligations and pay claims.
  • J.D. Power: 5 out of 5 (Among the best). This specific insurance ranked first in the Central region for customer satisfaction in the J.D. Power 2023 U.S
  • NAIC: 0.17 (Far fewer than expected). This ratio compares the number of complaints that Shelter Insurance received to its market share.
  • Bankrate Score: 3.4 out of 5. This score is based on a comprehensive analysis of Shelter Insurance’s products, discounts, website, financial strength, complaint data and more.

How Shelter Insurance Compares to Other Companies

Here are some of the top insurance companies that you can compare to Shelter Insurance:</p>

  • State Farm: State Farm is the largest insurance company in the U.S., with a market share of 16.1%. It offers auto, home, life and other types of insurance in all 50 states. State Farm has a lower auto insurance rate than Shelter Insurance, according to our analysis. The average annual premium for State Farm auto insurance is $1,457, while the average for Shelter Insurance is $2,136. State Farm also has a higher J.D.
  • GEICO: GEICO is the second-largest insurance company in the U.S., with a market share of 13.8%. It offers auto, home, life and other types of insurance in all 50 states. GEICO has a lower home insurance rate than Shelter Insurance, according to our analysis. The average annual premium for GEICO home insurance is $1,258, while the average for Shelter Insurance is $2,136. GEICO also has a higher J.D. Power customer satisfaction score than Shelter Insurance in the Mid-Atlantic, New England and New York regions.
  • Progressive: Progressive is the third-largest insurance company in the U.S., with a market share of 12.3%. It offers auto, home, life and other types of insurance in all 50 states. Progressive has a lower auto and home insurance rate than Shelter Insurance, according to our analysis. The average annual premium for Progressive auto insurance is $1,509, while the average for Shelter Insurance is $2,136

Conclusion

Shelter Insurance is a regional insurance company that offers a range of insurance products and discounts. It has excellent customer service, low complaints, and strong financial stability. However, it is not available in every state, has limited online tools, and has higher home insurance rates than the national average. If you are looking for an insurance company that has more online features, lower prices, or wider availability, you may want to it <span style=”font-size: inherit;”>to other top companies in the market.

Spread the love

Leave a Comment