- Plenty of extra coverages and policies
- Great job handling claims and customer service inquiries
- Wide range of discounts available on premiums
- Only available in 37 states
- Higher than average premiums
- Negative outlook for future financial stability
Acuity offers casualty and property insurance products for both individuals and businesses. They’re a top regional insurer that has earned numerous awards, with 90 years of experience. In 1925, this company was founded under the name Mutual Auto Insurance Company of the Town of Herman. After three decades, the company changed its name to Mutual Auto of Wisconsin, located in Sheboygan, Wisconsin, and in 1999 they made a final name change to Acuity Insurance. They are still operating as a mutual insurance company today. Acuity is a large insurer providing coverage in 37 states.
They write homeowners insurance, condo insurance, renters insurance, and auto insurance policies along with some special and recreational policies for individuals, and offer a wide range of commercial products suited for businesses. They are selling all of their products exclusively through their agents across their service areas.
Types of Acuity homeowners insurance coverages
When you choose Acuity, they help to simplify the process of obtaining homeowners insurance. You can choose to either get a standalone policy, or you can bundle it with your auto insurance. This is known as their Road and Resistance package. It can also extend to include any other personal insurance policy you need.
It appears their standard homeowners insurance is comparable to an HO-3 policy that is offered by most other insurers. You get protection for your dwelling, other structures, and personal property. There are many options available that will allow you to get additional coverage at an extra cost.
While Acuity seems to have basic homeowners insurance coverage, they make it possible to customize a policy that will suit all your needs. You can pick and choose which coverages you need to create coverage that allows you to feel secure.
Acuity homeowners insurance discounts
It is clear that Acuity wants customers to bundle policies together. This means customers can work with one company that will provide many different types of insurance. They offer a 20% discount to customers who choose to bundle their policies.
If you do not want to bundle your policies, you can still save money when you choose Acuity if you have fire protection systems such as sprinklers, fire alarms, smoke detectors, and any other fire-preventative device that is installed.
Having a newer home or a home equipped with smart systems can also give you a discount through Acuity. They also reward customers for paying their premiums in full. As long as you are not paying through an escrow account, you can qualify for this discount.
Another additional discount provided is given to mature homeowners. It is thought that homeowners that are 55+ and retired get a discount from Acuity when shopping for homeowners insurance.
Acuity’s additional coverages for homeowners insurance
There are many ways to obtain additional coverage through Acuity. Once you have a basic homeowners policy, you can choose to add extras that you feel you need.
- Guaranteed replacement cost: One of their most common appears to be guaranteed home replacement. This is an endorsement that covers the cost of rebuilding, even if it exceeds the policy limit.
- Enhanced personal property coverage: Acuity offers 3 ways to increase your personal property coverage: personal property replacement cost, scheduled personal property, and blanket jewelry. With these 3 upgrades available, Acuity is able to offer custom coverage to protect your high-value belongings. While standard homeowners insurance has sub-limits for various categories of personal belongings such as jewelry, their blanket jewelry allows you to bypass those limits. This is great when you have many valuable items.
- Some of their other featured extras are home business protection, matching siding coverage (for siding damaged by wind or hail), identity theft/fraud, and service line coverage for underground piping and lines.
- Umbrella insurance: Acuity also offers umbrella policies that will apply to all existing policies you have. This will give you the option to purchase extra protection from injuries, property damage, and lawsuits.
Acuity homeowners insurance premiums
Learning more about the average cost of a homeowners insurance policy can give you a basic idea of how much you can expect to pay. Online reviews report that the cost of homeowners insurance from Acuity is a bit more expensive than the nationwide average. According to Policygenius a policy with a $300,000 dwelling limit costs around $2,058 on average through Acuity. This is around 8% higher than the national average.
When considering this factor, you can also think about the costs that can incur when adding coverage to a basic homeowners insurance policy. Since you have to pay for these extras that you want, you might end up with a rate that is significantly higher than the average premium in your area.
This price might be balanced out if you qualify for discounts, so the easiest way to determine what you will pay is by getting a personalized quote. You can do this online through the Acuity website or by contacting an agent. This seems to be a very personalized process.
There are some reviews stating that Acuity’s premiums go up over just a few months. Some customers complain that this makes the insurance unaffordable, as it is already higher than the national average. This is expressed by a select few customers, as not all individuals had to go through a rate increase.
Acuity homeowners insurance claims
There are mainly positive reviews online that discuss how Acuity handles claims. Many customers are happy with how they were treated and seem to have few issues filing claims and receiving payments.
There are a few that express difficulties when working with the claims adjuster. One customer was unable to get approved for a roof replacement after being inspected by two different adjusters. This left them without coverage.
While there are some unfavorable experiences, a majority of them appear very positive. Customers seem content with Acuity’s ability to handle claims quickly and efficiently.
Acuity’s customer service
There are several great reviews on Acuity’s customer service and its ability to help customers with a variety of different needs. Many are very happy with their efficiency and have nothing negative to report.
It appears that there are many customers who have been with the company for a long time and see no need to change insurers in the future. Being able to feel content with an insurance company provides a lot of security.
There are few negative reviews that stated their complaints about delays when trying to reach someone at the company. These reviews are seldom and seem to reflect that Acuity does its best to be available for its customers at all times.
Acuity’s financial strength
There is a lot to be seen when it comes to a company’s financial strength. You want to make sure you are choosing an insurer that will be able to pay out claims in case you ever experience a loss.
BBB
Through the Better Business Bureau, Acuity receives an A+ rating. This is a superior rating that showcases great financial stability as a company. Over the last three years, they have handled 14 closed complaints.
AM Best
As of January 2023, Acuity also holds an A+ rating through AM Best. This is another superior rating that showcases financial stability. However, it is also reported that the company’s outlook has changed from stable to negative for the future.
The verdict
Acuity is a company that provides many types of insurance policies. They keep it simple by insuring owned homes, condos, and apartments. You get the basic level of coverage you would expect when shopping for homeowners insurance with the option to customize this coverage to suit your needs.
There are several helpful coverages and additional policies that can be purchased through Acuity. They encourage clients to bundle their insurance to only have to work with one insurer. Since they offer so many different products, this is easy to accomplish.
There is a wide range of discounts available that are relatively easy to qualify for. This is good because Acuity has premiums that are slightly higher than the national average. When you take into account that the additional coverages cost extra, you can probably expect to pay more than you would with other insurers. However, you would be adequately covered.
It is hard to find bad reviews left for Acuity by customers. Many are very happy with the service they have been provided and have minimal issues when it comes to filing claims. This appears to be a strong point for the insurer.
While Acuity has earned superior ratings regarding its current financial stability, they have recently been downgraded to a negative outlook for the future. This is important to keep in mind because it can often indicate how a company will continue to function as the years go on.
Acuity is a good choice if you are located in one of the 37 states they serve. They appear to be a straightforward insurance company with the option to create more extensive coverage if you find the need to do so.
There are definitely cheaper companies out there, but you are likely going to create a policy that has the specific coverage you are looking for since Acuity has a lot to offer. They are easy to communicate with, so you can simply specify this to the agent you are working with.
