Auto-Owners Insurance got its roots in Mount Pleasant, Michigan, over 100 years ago in 1916. Having since moved to its headquartered location in Lansing, Michigan, Auto-Owners has proudly gone from $174.25 in total assets to an astounding $21.38 billion.
Indiana was its first expanded location in 1935. Today, Auto-Owners offers a collection of insurance products to 30 states in the US.
Auto-Owners allows individuals in these select states to enjoy insurance for their lives, homes, property, farms, businesses, and much more. With the help of independent agents and many products to choose from, Auto-Owners remains a stable insurer in the country.
Are you curious to know what kind of coverage an Auto-Owners home insurance policy has in store for you? Keep reading! In this review, we’ll look at what Auto-Owners home insurance has to offer.
We’ll see how much one of these policies will cost you, plus any potential savings on your annual premium. After that, we’ll talk about how their customers feel and delve into their financial security.
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:
Auto-Owners homeowners insurance coverages
Auto-Owners’ website provides plenty of information about the definitions of their coverages and an outline of their discounts for reference.
When it comes to Auto-Owners home insurance, you can expect the typical policy specifications from any home insurance company. These include coverages for your:
- Dwelling: Your agent will assist in identifying the replacement cost of your dwelling to establish the necessary coverage. This will include protection for your home and any incorporated structures like a garage or deck.
- Other structures: This section of the policy caters to buildings that are situated on your land but are not physically connected to your main house. Examples of these include a separate garage, storage shed, or a large agricultural building.
- Personal property: Irrespective of the location, your personal belongings are insured up to a percentage of your dwelling coverage replacement cost. Certain personal effects can be insured separately for more coverage opportunities.
- Personal liability: Safeguards against potential lawsuits you may face and offers global coverage for any incidents that may occur.
- Medical payments: Protection for any individuals harmed while at your home. This coverage encompasses small medical expenses such as x-rays, outpatient visits, etc.
- Loss of use: Covers the extra living expenses incurred in the event that a covered loss results in displacement from your residence.
Additional coverages and endorsements
Auto-Owners has a list of extra coverages and endorsements. With these extra provisions in your policy, you’re provided with more avenues for financial security in case of a covered loss.
For example, guaranteed replacement cost is available for a little extra on your annual premium. With this endorsement, your home can be repaired or replaced regardless of if the costs exceed your policy limits.
Other optional coverages include:
- Water backup of sewers or drains: When sewage or drainage systems become clogged, they can create chaos in a household, resulting in harm to floors, walls, furniture, and electrical setups. There are various options for water backup coverage, each with personalized limits to match your specific requirements.
- Special personal property coverage: As mentioned earlier, certain personal effects can be given special limits to ensure total coverage. This endorsement provides extra coverage which encompasses a wider range of protection for your personal belongings.
- Ordinance or law coverage: Property owners can benefit from this endorsement as they seek protection against legal action that may be initiated due to non-compliance with zoning regulations or building codes imposed by the local authorities. We usually see this coverage included with a regular policy, but Auto-Owners has it set up as an add-on.
- Homeowner Plus: With this coverage, you will receive added protection that combines various coverages in one package. Think of this as your homeowner’s policy on steroids. It covers any harm to your property attributed to household appliances leaking, heightened coverage limits for damages caused by power outages resulting in food spoilage, and other beneficial features.
- Equipment breakdown: Safeguard your home from potential electrical and mechanical defects of essential equipment, ranging from computers and major appliances to air conditioners and heating units, with comprehensive equipment breakdown coverage.
- Home cyber protection: Ensures that the expenses relating to hiring expert assistance for regaining stolen or tampered data, repairing your device, and acquiring legal counsel to examine and devise a plan of action for personal data breaches are covered.
- Identity theft: Gives you a maximum of $15,000 to cover the expenses you may have while attempting to recover your financial identity.
- Inland flood coverage: Possibly one of the finer options, in our opinion, is Auto-Owners flood coverage. A homeowner can opt for inclusive flood coverage by adding it to their current homeowners policy instead of buying a distinct policy for homes located in areas with mild to moderate flood risk.
This additional coverage covers various expenses like moving costs, debris removal, and additional living expenses besides covering the contents of the house, including the ones placed in basements. The definition of flood in this coverage is more comprehensive, and it is not as limiting as the National Flood Insurance Program’s coverage.
Auto-Owners homeowners insurance premiums
Without an online tool to thoroughly and autonomously choose the coverages to meet our needs, we’re left to scrounge for information on their website. Without a quote tool, we’re unable to find the right price for the perfect level of coverage.
In the 30 states where home insurance is offered, the average home insurance premiums for all companies vary greatly between $643 and $2,591.
Although we don’t have precise data, according to many customer reviews, Auto-Owners has affordable and fair rates. Quite a few reviews claim that they found the cheapest premium with this insurance company. One policyholder reported in the online review that they got 20% more coverage for 60% less a year. On the flip side, there are some homeowners who complained that Auto-Owners has increased their rate without any claims.
Auto-Owners provides quality discounts designed to help you save money. These include your typical incentives, like:
- Multi-policy discount: This allows you to save money when you have more than one policy open with Auto-Owners.
- Payment history: If you have maintained timely premium payments within the last 36 months, you could be eligible for a reduction in cost.
- Paid in full: Opt for the complete and timely payment of your yearly policy premium to save more.
- Green discount: By opting for paperless billing and paying your premiums via online mode, you might become eligible for this discount.
- Advance quote: New applicants can receive a discount if they ask for a premium quote before the policy takes effect.
- Protective devices: This discount is ready for those who possess safeguard equipment like fire alarms, bolt locks, and fire extinguishers.
- Positive claims history: Receive a discount for having a favorable history of claims (or lack thereof)
There are also a few other discounts available that we found to be more unique and customer-centric. These were:
- Water shut-off: If you have a whole-house water pipe shut-off system that is authorized and maintained correctly, you may be eligible for this discount.
- Backup generator: If your backup generator meets the necessary requirements, you could potentially qualify for a discount. This is an interesting discount we haven’t seen before! This incentive makes sense to help you protect against food spoilage or possible displacement.
- Mortgage free discount: If you lack a mortgage or line of credit on your home, you could qualify for this discount.
On NAIC’s National Complaint Index, there were significantly fewer complaints toward Auto-Owners home insurance in 2022. When the average is set to a level of 1, Auto-Owners scored 0.13. In fact, this insurer has consistently registered a less-than-average level of complaints for the last 3 years at least.
Homeowners insurance accounted for nearly a third of total company complaints in 2022. As you can expect, many of Auto-Owner customers are split. Being blessed with knowledgeable, personable, and kind agents seems to be a common deciding factor for customers.
If you need to file a claim with Auto-Owners, all you need to do is get ahold of your agent. If it’s after hours you can call their 24/7 support line at 1-888-252-4626.
According to customers registered by the NAIC, the biggest gripes related to claims are unsatisfactory settlements and delays. Most reviews related to claims are positive and many homeowners had no issues getting their payouts. Some reviews report that the right agent can help mitigate some of these issues, at times taking the pain away from the process.
Unluckier customers get stuck with agents and adjusters without the right expertise. These are the clients dealing with claims that take 4+ months to conclude.
According to AM Best, Auto-Owners has a Superior A++ financial stability rating. Weiss Ratings shares this outstanding sentiment – providing the insurer with a solid “B” rating.
To summarize, these scores indicate how Auto-Owners offers decent financial security with the available resources to deal with negative economic conditions. This was founded on Auto-Owners’ history of adequate reserve strength, good liquidity fair stability test results, and several other factors.
Since 2016, Auto-Owners has been accredited by the BBB. They carry an A+ rating with 156 complaints closed in the last 3 years.
Auto-Owners earns another win for the elder home insurers. Their coverage options are enough to thoroughly protect your home and belongings.
You may need to ask about their discounts if you’re looking for the best prices. There are many incentives available for certain homeowners which have the potential to save you hundreds of dollars a year.
If you’re considering a home insurer that can provide you with the perfect level of coverage for a fair price, this may be your lucky day. This may especially be the case if you’re in favor of working with an agent to take care of all your insurance needs.