- Available in all 50 states, plus D.C.
- Decent customer reviews.
- No online quote tool.
- Unfavorable claims process cited by customers.
The Horace Mann Insurance Group’s subsidiary, Horace Mann, operates in Illinois. Two Illinois-based professors established Horace Mann in 1945, aiming to offer affordable auto insurance and cater to educators’ insurance requirements.
As you can imagine, this insurer offers customized insurance policies designed especially for professors, administrators, and educational professionals. The company is focused on meeting the specific insurance needs of educational institutions.
Although Horace Mann initially provided only car insurance policies, they rapidly expanded their offerings to encompass bundle options and home insurance. The primary insurance policies of Horace Mann consist of life, umbrella, automotive, and home insurance policies. Horace Mann policies are available in 45 states and Washington, D.C.
Considering Horace Mann strives so deeply to connect with specific navigators of the workforce, we can get a pretty decent understanding of how well they treat their customers. So, we’ve created this review of their home insurance products and services. Aside from customer satisfaction, we’ll also dig into their coverage, policy pricing options, potential discounts, and more!
Horace Mann specializes in providing insurance to educators: professors, school administration employees, and educators seeking tailored insurance policies. Horace Mann’s services are made to cater to educational institutions. Horace Mann was founded by 2 Illinois professors in 1945; they sought to provide educators with affordable auto insurance and supply educators’ insurance needs. The company started out offering auto insurance policies but quickly grew to offer home insurance and other bundle options. Horace Mann’s main insurance policies are home, automotive, life insurance, and umbrella insurance policies. Horace Mann retains its education-insurance roots and currently offers a number of insurance policies for educators. Horace Mann provides insurance for classrooms, provides classroom funding, loan assistance for students, workshops, and more. The company optionally insures annuities and IRAs under its financial insurance policies.
Horace Mann started expanding outside of Illinois in 1945. It was acquired by a Pennsylvania-based financial conglomerate called The Insurance Company of North America – INA in 1974. The company was then merged with Connecticut General in 1972, and the group became known as CIGNA. An investor last acquired the company from CIGNA in 1989, and the company IPO’d on the U.S. stock exchange in 1991. It is currently traded on the market under the name HMN. Horace Mann made a number of acquisitions since it became a publically traded company, in 1994 it acquired a California property insurer called Allegiance Insurance Company.
Horace Mann does not sell their policies directly online but through a network of independent agents. Clients have to enter their zip code to find a list of agents in their vicinity. Most agents selling Horace Mann work in education or are former educators. Horace Mann has 2 main claim offices outside of Illinois – Irving, TX, and Morrisville, NC. Horace Mann is located in Springfield, IL.
Horace Mann homeowners insurance coverages
Horace Mann policies are unavailable for direct purchase online. Rather, the company offers its policies through a network of independent brokers. As such, we couldn’t receive a direct personalized quote online. Instead, those looking for coverage must begin their search by providing their zip code to locate nearby agents.
On the bright side, Horace Mann provides us with the basic information we need to get a better understanding of the coverage they have available. This is the kind of protection you can see with Horace Mann’s home insurance:
- Dwelling coverage: The main dwelling is protected from natural disasters, accidental damage, home invasions, vandalism, and a few other perils. Clients get the most out of their plans for repairs and replacements. There’s room to negotiate coverage limits.
- Other structures: The outlying structures on the property are fully insured. These may include detached garages, sports playgrounds, sheds, animal houses/barns, visitor’s homes, boat docks, and more. Although the coverage for side structures is less than that of the main home, clients can ask to increase the coverage percentage if they so choose.
- Personal property: Personal property within the house, such as clothing, furniture, electronics, kitchen appliances, silverware, and more are covered. Claims on most items are not limited, though high-value items that cost over $10,000 can be insured separately. We’ll get into those endorsements in a bit.
- Personal liability: Coverage is provided to customers for any legal and/or medical responsibility. This coverage works by resolving the issue and compensating customers for any legal expenses if they’ve caused harm to a neighbor’s property. This also covers all medical bills incurred if somebody gets injured while on the premises, including family and guests.
- Loss of use: In case a client’s residence cannot be occupied during the repair process, the company takes liability for their expenses, including rent for hotel accommodations, food, and other bills.
Horace Mann’s endorsements and additional coverages
Horace Mann allows you to get the most out of your insurance by providing a few endorsements you can choose from. With these, you can enhance your existing coverage and get extra protection for unexpected events and peace of mind for you and your loved ones.
- Scheduled personal property: offers extra insurance for specific items. If any of the designated property is stolen or damaged, the deductible is entirely waived.
- Replacement cost for personal property: safeguards your beloved belongings, such as carpets, televisions, and furniture. This policy reimburses you for the entire cost of replacing your personal property that is destroyed or damaged due to a covered loss. This is opposed to the standard actual cash value of replacement, which factors in item depreciation.
- Refrigerated food: guarantees the compensation of up to $1,000 for any losses incurred from the contents of your fridge and freezer. This policy comes at an affordable premium and does not require a deductible.
- Homeowner educator advantage: if both your home and car are damaged at the same time, you can apply your cheapest deductible. The Identity Fraud Advocacy Services Endorsement is a complementary addition to the property policy for educators.
- Identity theft services: As part of our home, condo, or renters insurance policy, Identity Fraud Advocacy Services is offered to educators completely free of charge. These services aim to protect against identity theft by helping you navigate through the entire process of restoring your security.
Horace Mann homeowners insurance premiums and possible discounts
Without an online quote tool, we can’t say for sure how much home insurance will cost us with Horace Mann unless we contact a local agent. Luckily, we can decipher what kind of rates you can expect based on the state you live in.
Different states carry different caveats and benefits that directly influence the rate of home insurance. For example, states in the Tornado Alley (Oklahoma, Kansas, Arkansas, etc.) are noted as some of the most expensive states for insurance due to their constant state-specific weather events and claims.
More docile areas of the US have less money to pay on their annual premiums than others. Insurance companies like Horace Mann don’t have to dish out as many claims payments here as they do in more weather-aware states.
Customers tend to be relatively satisfied with Horace Mann’s annual premiums. Many declare that their rates can’t be beaten thanks to their strong advocacy for educators. Several customers explain how fantastic the discounts for educators are.
These discounts are as follows:
- New home: If the client’s property was either constructed or renovated in the last decade, they can receive a reduction in their insurance premiums.
- Secure home: A discount can be availed by clients with installed security equipment, such as smoke detectors or infrared cameras.
- Bundled: In case a client decides to merge their HO-3 plan with an auto insurance policy, they can qualify for a bundle policy discount.
- Loyalty: The loyalty policy introduced by Horace Mann offers a discount to clients who switch from their current home insurance scheme to the HO-3 plan. This discount is available from the beginning of the contract term.
- Educator advantage: By utilizing Homeowner Educator Advantage, teachers can obtain extra protection for their property without any additional fees.
Horace Mann’s customer reviews
In 2022, the NAIC (National Association of Insurance Commissioners) registered an average of 0.5 complaints from Horace Mann for their home insurance. This is 0.5 points below the national average of 1.00 so they are receiving a below-average number of complaints for a company of their size.
When we look a little deeper, there were 15 complaints launched at the company that year and only 6 of them were about home insurance. Claim handling was the biggest gripe, citing unsatisfactory settlements as the biggest issue.
Elsewhere on the internet, consumers tend to express a predominantly favorable judgment about Horace Mann. The advantageous pricing policy and resulting savings, which distinguish the company from its competitors, are widely praised by policyholders.
Additionally, their top-notch and dependable customer service is often acknowledged by customers who report a positive and comfortable enrollment experience where they were aided every step of the way. According to some reviewers, it is also possible to apply several discounts at the same time.
Clients have expressed their dissatisfaction with the company through negative reviews, citing the slow response times as the main issue for homeowners. Many other customers are upset with the raising rates and the sudden cancellation of their policies without notice.
Horace Mann’s claims experience
You can file claims 24/7 through their toll-free number for home insurance claims: 800.999.1030. You can also file online, but only when logged into the insured’s web account.
Unfortunately, it’s difficult to tell whether their claims process will work out in your favor. With most complaints being driven by claims handling, delays, and unsatisfactory settlements, customers are at a loss with their losses.
A few customers recite how it took over a month to resolve a minor claim, while others reel about how difficult it is to get ahold of someone.
Horace Mann’s financial ratings
All major financial institutions have rated Horace Mann as a financially stable company. A.M. Best, a well-known financial institution, gave Horace Mann an “A” which is their rating for excellent financial standings.
Horace Mann was also seen favorably by Weiss Ratings, with a financial stability rating of “B”. This means that Horace Mann offers good financial security with the resources to deal with adverse economic conditions, and is likely to remain healthy for the near future.
Horace Mann isn’t rated by Demotech or accredited by the BBB. However, the BBB does declare an A+ rating for this insurer due to its ability to resolve 19 complaints in the last 3 years.
Conclusion
Horace Mann’s insurance shows legitimate care and concern for our nation of educators on the surface. Teachers and professors are met with decent coverage for their homes using their home insurance products. They also benefit from fair discounts that seem to knock off a good portion of expenses, according to customers.
Contrarily, customers talk about their claims as well. Unfortunately, there aren’t many good things to find out about the claims process, with many consumers feeling the cold shoulders and unresponsiveness of underwhelming adjusters and agents.
Conclusively, Horace Mann may be the insurer for you if you’re an educator with a need for inexpensive insurance and respectable home coverage. When filing a claim or finding an agent, it’s best to err on the side of caution. Make sure you find someone who knows their stuff and won’t leave you hanging.
