United Fire and Casualty Company, Iowa: Overview, Contacts, Services, Finances, Coverage, Claims, Compliance, Renewal & Cancellations, Reviews

United Fire and Casualty Company: A Trusted Insurance Partner in Iowa.

An image illustration of United Fire and Casualty Company
United Fire and Casualty Company: Where Trust Meets Protection, Ensuring Your Peace of Mind in Every Policy.

Are you looking for a reliable and reputable insurance company in Iowa?

If so, you might want to consider United Fire and Casualty Company, also known as UFG Insurance.

UFG is a multibillion-dollar insurance company that offers a wide range of insurance products and services for individuals and businesses.

In this blog post, we will give you an overview of UFG’s:

History, basic information, services and products, financial details, coverage details, claims, legal and compliance, renewals and cancellations, company culture, and customer experiences.

By the end of this post, you will have a better understanding of why UFG is a trusted insurance partner in Iowa and beyond.

Company Details

History and Founding Year:

UFG was founded in 1946 by Scott McIntyre Sr., a Cedar Rapids businessman who had the ambition to form a stock insurance company in Iowa.

UFG started as United Casualty Company, and later merged with other small insurance companies to form United Fire and Casualty Group.

Today, UFG is a publicly traded company listed on the Nasdaq Stock Market under UFCS.

CEO and Leadership Team:

UFG’s current CEO and president is Randy A. Ramlo, who has been with the company since 1987 and assumed his current role in 2007.

The Company’s leadership team consists of experienced and qualified executives who oversee various aspects of the company’s operations, such as finance, underwriting, claims, marketing, human resources, and information technology.

Market Share and Company Size:

UFG has a market share of about 0.2% in the U.S. property and casualty insurance industry, ranking 77th among the top 200 U.S. property and casualty writers in 2020.

The Company has a workforce of over 1,100 employees and a network of more than 1,000 independent agents across the country.

UFG serves thousands of policyholders in every region of the U.S., as well as in Canada.

Basic Information

Here is some basic information about UFG that you might find useful:

Category Information
Phone Number (800) 332-7977
Address 118 2nd Ave SE, Cedar Rapids, IA, 52401
Customer Service Contact (800) 637-6309
Policy Details Varies depending on the type of insurance and the state of residence
Email Address info@ufginsurance.com
Fax Number (319) 399-5810
Operating Hours Monday to Friday, 8:00 a.m. to 4:30 p.m. (Central Time)

Services and Products

UFG offers a variety of insurance products and services for both individuals and businesses, such as:

  • Commercial Insurance: UFG provides comprehensive and customized insurance solutions for businesses of all sizes and industries, including general liability, property, workers’ compensation, commercial auto, inland marine, umbrella, and cyber liability.
  • surety bonds: UFG is one of the leading providers of surety bonds in the U.S., offering contract bonds, commercial bonds, and fidelity bonds for various types of projects and obligations.
  • Specialty: UFG specializes in niche markets that require unique and tailored insurance coverage, such as transportation, professional liability, agribusiness, and art and jewelry.
  • Small Business: UFG offers a simplified and affordable insurance option for small businesses, called UFG BizAssure, which combines essential coverages into one package, such as business owners’ policy, commercial auto, and workers’ compensation.
  • Individual Insurance: UFG also caters to the personal insurance needs of individuals and families, offering auto, home, life, and annuity insurance products.

UFG also offers some special packages and bundled services, such as:

  • UFG Homeowners Plus: This is an optional endorsement that adds extra coverage and benefits to the standard homeowners policy, such as identity theft protection, equipment breakdown coverage, and increased limits for certain items.
  • UFG RoadGuard: This is a roadside assistance program that provides 24/7 emergency services for UFG auto policyholders, such as towing, battery jump-start, flat tire change, lockout service, and fuel delivery.
  • UFG Life Solutions: This is a life insurance program that allows UFG policyholders to access a network of independent life insurance agents who can help them find the best life insurance product for their needs and budget.

Financial Details

UFG is a financially strong and stable insurance company, with a financial strength rating of “A” (Excellent) from AM Best Company and a financial size category of XI ($750 million to $1 billion).

UFG also has a positive outlook from AM Best, reflecting its solid operating performance, favorable loss reserve development, and prudent capital management.

The Company offers various payment options for its policyholders, such as monthly, quarterly, semi-annually, or annually. UFG also offers different payment methods, such as online, mail, phone, or automatic withdrawal.

UFG also offers various discounts and promotional offers for its policyholders, such as:

  • Multi-Policy Discount: UFG offers a discount for policyholders who have more than one policy with UFG, such as auto and home, or commercial and surety.
  • Loss-Free Discount: UFG offers a discount for policyholders who have no claims for a certain period of time, depending on the type of policy.
  • Safety Discount: UFG offers a discount for policyholders who implement safety measures and devices, such as smoke detectors, fire extinguishers, alarm systems, and anti-theft devices.
  • Good Student Discount: UFG offers a discount for policyholders who have a student driver who maintains a good academic record.

Coverage Details

UFG’s coverage details vary depending on the type of insurance, the level of coverage, the state of residence, and the policy terms and conditions.

Some of the coverage details that UFG offers are:

  • Policy Exclusions: These are the situations or events that UFG does not cover under its policies, such as intentional acts, war, nuclear hazards, wear and tear, and government actions.
  • Coverage Limits: These are the maximum amounts that UFG will pay for a covered loss, such as the limit of liability, the limit of insurance, or the sublimit.
  • Add-ons or Riders: These are the optional coverages that UFG offers to enhance or extend the basic policy, such as the UFG Homeowners Plus endorsement, the UFG RoadGuard program, or the UFG Life Solutions program.

Claims

UFG’s claim process is simple and convenient for its policyholders. UFG offers various ways to report a claim, such as online, phone, email, fax, or through the agent.

UFG’s required documents for claims vary depending on the type of claim, but generally include the following:

  • Policy Number: This is the number that identifies the policyholder and the policy.
  • Proof of Loss: This is the document that describes the details of the loss, such as the date, time, location, cause, and extent of the damage or injury.
  • Police Report: This is the document that records the official investigation of the incident, such as a traffic accident, a theft, or a vandalism.
  • Receipts or Invoices: These are the documents that show the cost of repairing or replacing the damaged or stolen property, or the medical expenses incurred for the injury.

Legal and Compliance

UFG operates as a legal and compliant insurance company, adhering to the laws and regulations in the states and countries it serves.

It prioritizes the privacy and security of policyholders’ personal information.

The Company maintains a privacy policy detailing the collection, use, sharing, and protection of personal information, along with policyholders’ rights and choices.

Additionally, it has terms and conditions for its website, mobile app, and online services, outlining disclaimers, limitations of liability, and indemnification clauses for both UFG and policyholders.

Renewals and Cancellations

UFG ensures a straightforward and convenient policy renewal process for its policyholders. Before the policy expiration date, UFG sends a renewal notice detailing the renewal premium, date, and any policy changes.

Policyholders can renew online, by phone, by mail, or through their agent, with the flexibility to make adjustments during the process.

Cancellation policies and fees at UFG vary based on policy type, state of residence, and cancellation reason.

Policyholders can cancel anytime by notifying UFG in writing, by phone, by email, by fax, or through their agent.

The Company refunds unused premiums, minus applicable fees, and may cancel a policy for reasons like non-payment, fraud, misrepresentation, or policy term violations.

A cancellation notice specifies the reason, effective date, and any refund or balance due. UFG offers grace periods, ranging from 10 to 31 days, allowing policyholders to pay premiums without penalties after the due date.

Company Culture

UFG makes a good and helpful company culture, caring for workers, helpers, and customers.

Its goal is to give good insurance while being honest, fair, and skilled.

UFG wants to be a top and admired insurance company, following important values: putting customers first, finding new ways, working together, taking responsibility, and doing the best.

Welcoming differences, belonging, and helping society, UFG creates a workplace where no one is treated badly and helps community projects.

Customer Experiences

UFG’s customer experiences receive positive reviews and ratings from policyholders and external sources.

Trust pilot highlights friendly service, prompt claims payment, and reliability.

ClearSource praises UFG’s customer service, flexibility, and cost-effectiveness.

With an A+ rating from the Better Business Bureau, UFG demonstrates exceptional ethical practices and social responsibility.

J.D. Power rates UFG with a 3 out of 5 stars, reflecting average performance in the U.S. property and casualty insurance industry.

FAQs

  • Q: How can I get a quote from UFG?

Potential customers and policyholders can obtain quotes from UFG through online, phone, email, or agent channels.

Basic information about the individual, property, vehicle, or business is required for the quote, and UFG calculates the premium based on the risk profile and coverage options, providing a quote within minutes.

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