Universal Underwriters Insurance Company(Illinois); Profile, Claims, Services, and Benefits

Universal Underwriters Insurance Company (UUIC) is a major provider of property and casualty insurance for vehicle dealers in the United States.

Established in 1923, UUIC has a rich history of delivering comprehensive and innovative insurance solutions.

Universal Underwriters Insurance Company

Company Overview

Founded 1923
Headquarters Schaumburg, Illinois
Website UUIC Fact Sheet
Lines of Business Property and Casualty Insurance
Target Customers Vehicle Dealers

 

Brief History of Universal Underwriters Insurance Company

UUIC was founded in 1923 by automotive dealers seeking specialized and responsive insurance. It has since grown to become one of the largest and most respected insurers of vehicle dealers in the United States.

Mission and Values

UUIC’s mission is to provide comprehensive and innovative insurance solutions to help vehicle dealers succeed. Their core values include integrity, customer focus, innovation, and teamwork.

Filing Claims with Universal Underwriters Insurance Company

Step 1: Report Your Claim

Report your claim easily by going online, using the UUIC mobile app, or calling their claims center at 1-800-821-7803. Provide essential details like your policy number, incident date, time, a brief description, and contact info for others involved. Include a police report and photos of property damage, if available.

Step 2: Gather Documentation

Collect necessary documentation to support your claim, such as repair estimates, medical bills (if applicable), and receipts for any related expenses.

Step 3: Submit Your Claim

Once you have all the required documents, submit your claim online, through the UUIC mobile app, or by calling their claims center. A UUIC representative will review your claim and discuss your options with you.

Step 4: Monitor Your Claim

Keep track of your claim status online via the UUIC website or mobile app. Expect updates from a UUIC representative to stay informed.

Products and Services offered by Universal Underwriters Insurance Company

Products
  1. Garage Liability Insurance:
  2. Auto Physical Damage Insurance:
    • Shields vehicle dealers’ inventory from damage caused by accidents, theft, vandalism, and other perils.
  3. Dealer Errors and Omissions Insurance:
    • Safeguards vehicle dealers from liability claims stemming from errors in day-to-day operations.
  4. Workers’ Compensation Insurance:
    • Protects vehicle dealers from liability claims resulting from workplace accidents or illnesses.
  5. Excess and Umbrella Insurance:
    • Provides additional liability protection beyond the limits of a dealer’s primary liability policies.
Services
  1. Risk Management Consulting:
    • UUIC offers risk management consulting to help vehicle dealers identify and mitigate risks.
  2. Safety Training:
  3. Loss Prevention Programs:
    • UUIC offers loss prevention programs to help vehicle dealers minimize losses from theft, vandalism, and other perils.
  4. Claims Administration:

Universal Underwriters Insurance Company

Benefits of Joining Universal Underwriters Insurance Company

  1. Competitive Rates: UUIC offers competitive rates on insurance products.
  2. Comprehensive Coverage: A wide range of insurance products to meet the diverse needs of vehicle dealers.
  3. Expert Service: A team of experienced professionals dedicated to providing excellent service.
  4. Financial Stability: UUIC is financially stable with a strong track record of claims payment.

Ratings

Highly rated by credit rating agencies:

  • AM Best: A+ (Superior)
  • Fitch Ratings: A (Excellent)
  • Moody’s Investors Service: Aa3 (Very Strong)
  • Demotech: F1 (Exceptional)

Premiums and Payment Options

Premium costs vary based on individual needs, and UUIC is committed to providing competitive rates.

Payment options include online payments, automated payments, phone payments, and mail payments for the convenience of vehicle dealers

Contact Details of Universal Underwriters Insurance Company

Contact Information Phone Number
General Customer Service 1-800-821-7803
Commercial Customer Service 1-800-218-3206
Claims Department 1-800-470-0599
Underwriting Department 1-800-218-3206
Agent Locator 1-800-821-7803
Email
General Inquiries Online Form
Mailing Address
Universal Underwriters Insurance Company 1299 Zurich Way, Schaumburg, IL 60196
Website Zurich North America

 

Customer Reviews

UUIC’s online customer reviews vary, with an A+ rating on the Better Business Bureau (BBB) based on 94 customer reviews. Of these, 75% are positive, 13% negative, and 12% neutral.

Positive Reviews

Customers commend UUIC for competitive rates, helpful customer service, and quick claims processing. One BBB reviewer expressed satisfaction over a decade, stating, “I’ve always been happy with their service and competitive rates.”

Universal Underwriters Insurance Company

Negative Reviews

Some negative reviews cite slow claims processing, poor communication, and high premiums. A disappointed reviewer mentioned, “It took them over a month to process my claim, and they never kept me updated.

Complaints and Resolutions

In 2023, UUIC received 62 complaints, a decrease from 144 in 2022. Of these, 38% concerned claims handling, 24% policy issues, and 22% billing issues.

UUIC boasts a 97% resolution rate, demonstrating its commitment to resolving customer concerns promptly.

In summary, while UUIC maintains a positive reputation for customer service and claims handling, there are instances of negative reviews highlighting slow claims processing, communication issues, and high premiums.

The company’s proactive approach to addressing complaints is reflected in its high-resolution rate.

Cancellations and Renewals of Policies

Cancellations at UUIC:

UUIC cancels 10% of policies annually. The main reasons include:

  1. Non-payment of Premiums:
    • If premiums aren’t paid on time, UUIC cancels policies.
  2. Customer Dissatisfaction:
    • Policies may be canceled if customers aren’t satisfied with rates, coverage, or service.
  3. Change in Circumstances:
    • Policyholders cancel if situations change, like selling a vehicle or moving.

Renewals with UUIC:

UUIC sees a 90% renewal rate. Common reasons are:

  1. Customer Satisfaction:
    • Satisfied customers tend to renew their policies with UUIC.
  2. Competitive Rates:
  3. Convenience:
    • Renewing is easy online, by phone, or by mail.

Tips to Avoid Cancellations:

  1. Understand Your Policy:
    • Read your policy thoroughly to know what’s covered and what’s not.
  2. Pay Premiums on Time:
    • Avoid cancellations by setting up automatic payments.
  3. Contact Your Agent:
    • For any questions or concerns, your agent can help you understand your policy and ensure you have the right coverage.

FAQ’S

1. How can I contact Universal Underwriters Insurance Company (UUIC)?

  • Answer: You can reach UUIC at their General Customer Service line: 1-800-821-7803.

2. What types of insurance products does UUIC offer for vehicle dealers?

  • Answer: UUIC provides various insurance products, including Garage Liability, Auto Physical Damage, Dealer Errors and Omissions, Workers’ Compensation, and Excess and Umbrella Insurance.

3. How do I file a claim with UUIC?

  • Answer: You can report your claim online, through the UUIC mobile app, or by calling their Claims Department at 1-800-470-0599.

4. What are some positive aspects mentioned in customer reviews of UUIC?

  • Answer: Customers often praise UUIC for competitive rates, helpful customer service, and quick claims processing.

5. Are there any negative aspects mentioned in customer reviews?

  • Answer: Some negative reviews highlight issues like slow claims processing, poor communication, and perceived high premiums.

6. How many complaints did UUIC receive in 2023, and what were the main concerns?

  • Answer: In 2023, UUIC received 62 complaints. The main concerns included claims handling (38%), policy issues (24%), and billing issues (22%).

7. What is UUIC’s resolution rate for customer complaints?

  • Answer: UUIC has an impressive resolution rate of 97%, indicating their commitment to promptly addressing and resolving customer concerns.

Conclusions

To sum up, Universal Underwriters Insurance Company (UUIC) stands out as a leading provider of property and casualty insurance tailored for vehicle dealers.

Established in 1923, UUIC has evolved into one of the nation’s major insurers, consistently showcasing its dedication to customer satisfaction.

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