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Auto-Owners Insurance Group Homeowners Review

Auto-Owners Insurance Group Homeowners Review

Auto-Owners Insurance Group Homeowners Review

Auto-Owners Insurance Group is a Michigan-based insurance company that insures homeowners, auto owners, and commercial insurance owners. Auto-Owners is one of the oldest insurance companies in the United States, it was established in 1916 by an entrepreneur called Vern Moulton who started out of a room at the bank he worked at. Auto-Owners used to specialize in insuring automobiles in the state of Michigan during the automobile boom. The company became one of the largest insurance companies in Michigan, and in the ’40s started expanding by offering personal liability and home insurance policies.

Auto-Owners is one of the largest insurance groups in the world. The company is listed on the Fortune 500 for over 10 years, and it has one of the biggest turnovers n the U.S., allowing for claims to be processed fast. Auto-Owners employs over 3,000 customer service employees, has 35,000 agents selling policies and offices in 65 cities around the 26 states it services. Auto-Owners policies can be purchased independently or in combined bundles, and the company offers multiple discounts. 

Auto-Owners currently services 26 U.S. states: Alabama, Arkansas, Florida, Georgia, Arkansas, Idaho, Illinois, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Carolina, North Dakota, Ohio, Pennsylvania, South Carolina, South Dakota, Tennessee, Utah, Virginia, and Wisconsin. Auto-Owners policies are not sold directly but through a network of over 6,000 subsidiary insurance corps. Clients have to reach out to an agent in order to receive a quote and premium options. Auto-Owners is based in Lansing, MI.

Auto-Owners home insurance is available for the following:

  • Homeowners
  • Condominium unit owners
  • Renters/tenants
  • Mobile homeowners
  • Farm owners
  • Commercial property owners

Financial Ratings

Auto-Owners is one of the most financially-stable companies in the United States. Auto-Owners was rated by all the major financial institutions (AM Best, S&P, Weiss & Better Business Bureau). A.M. Best. is one of the largest financial institutions in the U.S. responsible for rating insurance companies based on their financial stability, awards Auto-Owners an A++ rating – Superior financial stability.  

S&P’s current rating is an AA rating which is the highest obtainable. Weiss rates Auto-Owners A – Excellent for financial stability. J.D. Power & Associates rates Auto-Owners highly for a low customer complaint ratio. Polled customers show a near 90% of customers renew their policies each year.

Auto-Owners is listed on the Better Business Bureau, a company that rates insurance companies based on their financial stability and customer complaint ratio. Auto-Owners current holds an A+ rating for financial stability and low customer complaint ratio.

HO-3 Policy

Auto-Owners all-encompassing HO-3 plan provides coverage for the home, the side structures/de-attached properties, personal belongings, medical liability and more. The following are covered under the Auto-Owners standard HO-3 plan:

  • Main Residence. The main residence is covered at 100% repair or replacement cost, depending on the needs of the client. The home takes the bulk of the insurance coverage, and clients will be reimbursed for any damage to the main home. This includes attached structures such as the garage or the home deck. Clients can optionally increase their coverage on their home.
  • Side Structures. Structures on the client’s property that are not attached to the main home: visitors home’s, sheds, workshops, playgrounds, boat docks, barns or more. Each side structure can be insured and the insurance upgraded (optional).
  • Personal Property. All personal possessions in the home are automatically insured. Personal possessions include furniture, clothing, silverware, electronics, AC units, pool equipment, and more. The only exception is for high-value items such as items exceeding over $10-20K in value (watches, antiques, designer clothes, precious metals, etc). Clients have to purchase coverage for those items separately.
  • Medical Liability. If the client or anyone in their family/guests are injured in the property, Auto-Owners takes full ownership of their medical bills.
  • Personal Lawsuit Liability. Auto-Owners will bear the cost of any legal charges in case the client is sued and becomes liable for legal reasons. For example, if a neighbor sues a client for a tree falling on their property, Auto-Owners will cover their legal fees and settlements.
  • Loss Of Use Policy. If the client is forced to move out of their property while repairs are being carried out, Auto-Owners bears all their living costs: hotel/rental unit, bills, food expenses, and transportation costs.

Add-Ons

The following add-ons can be purchased as independent policies (based on the client’s needs):

  • Guaranteed home replacement. If the total insurance coverage does not cover the contractor bill in times of repair (ex. a client is insured for $500K and a contractor bills them $550K to rebuild), Auto-Owners provides a guarantee policy that will insure a client’s home at any price, including inflation-adjusted costs.
  • Water-damage guarantee. If any pipes start overflowing and cause leaks/floods in their client’s home, Auto-Owners will provide additional coverage for plumbing and cleanup contractors. Any damage to the interior, the walls, the furniture, and electronics will be covered under the water damage add-on.
  • High-value item property coverage. If the client has to insure high-value items such as watches, guns, designer clothes, gold/silver/precious metals, antiques, and more – they can get additional coverage in case their regular insurance doesn’t cut it. Clients have to inquire for each valuable independently.
  • Law coverage. If the client’s home does not meet community standards and it’s threatened demolition, this coverage will cover all their legal fees in order to secure the legal paperwork.
  • Homeowners Plus. Homeowners Plus policy is an upgrade that increases the client’s appliance coverage, increases limits for electricity breakdowns that cause food spoilage or damaged appliances in the home such as the fridge.
  • Identity theft. If the client’s identity is used for malicious purposes, this policy will help clear out their credit history and reimburses damages of up to $15,000 to restore the client’s damages.

Customer Reviews

Auto-Owners reviews are a mixed bag – customers write highly positive and highly negative reviews, as the company is so big that it’s all based on personal cases; some clients say they’ve had negative experiences with their customer service while others say they were pleasant. Many clients praise them and have used them for over 10 years, their customer service is rated as excellent and their plans are easy to purchase. 

Negative reviews for Auto-Owners are almost exclusively vehicle-related. Clients say the company might refuse to pay for a claim unless they know the client is 100% not at fault. Some said the company increased their premium after the first claim or they were completely dropped from the company. Most home insurance reviews are positive and they say the company was quick to pay for home insurance repairs

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