- Many additional coverages to offer
- A variety of discounts
- Good customer service
- Affordable rates according to online reviews
- Personal insurance lines such as homeowners are only available in 15 states
- Not great at handling claims
- No online quote available
When you are shopping for a great homeowners insurance policy, you are likely going to compare carriers to find the best option. There are several out there who are willing to insure your home, so you need to figure out which one is offering the best coverage that will suit your needs. Selective offers homeowners insurance is offered in only 15 states, while other types of policies are offered in more states. They are focused on providing insurance for owned homes at various levels of protection.
Selective homeowners insurance is available in Arizona, Illinois, Indiana, Iowa, Minnesota, Maryland, New Jersey, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Utah, Virginia, and Wisconsin.
Selective Insurance Group is a New Jersey-based insurance company that provides insurance throughout the United States. Selective is one of the largest insurance companies in the US – providing nationwide coverage and selling policies in all 50 states including Hawaii and Alaska.
Selective provides automotive, homeowners, business, commercial, and flood insurance policies. The company ranks as the #36th largest general insurance company on U.S. soil. Selective specializes in flood insurance and provides flood coverage in all 50 states – they are currently the fifth largest flood insurer in the U.S. by the number of customers. Selective auto and home insurance policies are only available in 15 states.
Selective is one of the oldest insurance companies in the Northeast. Selective was founded in 1928 as a fire insurance company and has nearly 100 years in the insurance business. The company was founded as the Selected Risks Indemnity Company and then renamed to Selected Risks Fire Insurance Company. Selective is a publically traded corporation seeing its biggest expansions during the ’30s when the company expanded its fire policies to workers compensation insurance and opened its first branch offices in Washington, D.C. The company merged with another company to form the conglomerate Selected Risks Insurance Company.
Selective Insurance Group is comprised of 10 large subsidiaries that write their policies in all 50 states:
- Selective Way Insurance Company
- Selective Insurance Company of New England
- Selective Insurance Company Of New York
- Selective Insurance Company Of South Carolina
- Selective Insurance Company Of The Southeast
- Selective Auto Insurance Company Of New Jersey
- Mesa Specialty Insurance Company
- Selective Casualty Insurance
- Selective Fire And Casualty Insurance
- Selective Insurance Company Of America
Selective currently employs over 2,300 full-time personnel, while they have a network of over 2,000 licensed agents that sell their policies in every state. Clients can inquire with a local agent to find out about premium options for their homes. Selective currently marks a yearly profit of over $2.6B, making it one of the most profitable insurance companies in the U.S. Selective is located in Branchville, NJ.
Selective home insurance policies are available for the following:
Selective homeowners insurance coverages
Selective provides homeowners insurance at different levels to make sure customers feel protected. They offer standard coverage, as well as enhanced policies that include more than the typical homeowners insurance policy. They recognize that homeowners have unique needs and might need more coverage at times.
The main policy they advertise on their website is the Platinum Policy. They advise that this is a traditional homeowners insurance policy that covers the dwelling, other structures, personal property, loss of use, liability, and medical payments. It is also equipped with a variety of enhancements that will take the coverage to the next level such as guaranteed replacement cost for non-building structures, theft of jewelry and watches, and cash-out option.
It appears that Selective is very focused on putting policies together that are unique and suitable for many different situations. They recognize that not all homes are built equally, so they like to give their customers many options when signing up for a policy.
Selective homeowners insurance discounts
If you are looking for discounts with Selective, there are a variety of different ones that you may qualify for. This is a way to save additional money on your policy.
- Auto policy: when you hold an auto policy with Selective, you qualify for the multi-policy discount they offer.
- Smoke alarms: having smoke alarms or sprinkler systems in your home can earn you a discount on your premium.
- Burglar alarms: protection against intruders is another way you can save money on your homeowners insurance with Selective.
- Getting quotes in advance: when you get a quote at least 15 days before signing up for a policy, you will receive a discount.
- Higher deductible: Selective advises that choosing a higher deductible will result in a lower premium payment.
- On-time payments: Selective rewards those who pay on time, and this is a discount you can earn in the future by keeping up with your payments.
Many of these discounts are easy to qualify for, so it is clear that Selective aims to make its products affordable. When you are getting a quote, you can always ask about the discounts you qualify for.
Additional coverages
If you are looking for a policy that covers more than the basics, you are making a good choice by going with Selective. They have a range of different coverages available for their customers to feel they are getting the best protection possible.
- Scheduled wine and spirits: If you have valuable bottles of wine or spirits, this coverage will protect the items that exceed a value of $5,000. It also extends large collections with a value of over $50,000.
- Undamaged roofing materials and siding: In case you experience a covered loss, you will have coverage to replace your roofing and siding. This coverage is not yet available in New Jersey.
- Service line: if any underground service lines must be repaired or replaced, these costs will be covered. The enhancement also pays for damages to outdoor property caused by these repairs and will pay for temporary living expenses if needed.
- Identity protection: In the event your identity gets stolen, this coverage helps you get back on track. It compensates you for any legal fees owed, lost wages incurred, and other expenses that you paid out-of-pocket.
- Home cyber protection: In case you are extorted or attacked online, this coverage will kick in. It is also extended to cases that deal with fraud and provides you with coverage for your online devices/technology.
- Home systems protection: in case a system or appliance in your home breaks down, this coverage will protect you. This includes sump pumps and HVAC units.
Any of these coverages can be added to a homeowners policy when you choose Selective. You are able to request them as needed when you speak to a local agent for a quote.
Selective home insurance premiums
It is hard to determine how Selective matches up to its competition because there is no way to get a quote online. You need to contact a local agent to get a personalized quote. There are many ways you can save money by qualifying for the range of discounts they offer, though.
Many customers are happy with all the discounts that are provided because they state this helps with the premiums a lot. Even without the discounts, a majority of customers praise Selective for being great and affordable.
When taking a look at the competition, it appears that customers agree that Selective is a top contender. Their rates are low, and this number can be made even more affordable by taking advantage of their discounts. Some customers said their multi-policy discount is excellent and makes the cost of insurance very affordable.
Selective’s claims process
When taking a look at reviews regarding claims, customers are not as pleased. There are several that experienced wind damage that was not covered by Selective. Customers are left feeling frustrated because these damages had to be paid out-of-pocket instead.
Those who were able to file claims have complained about receiving their payments in a timely manner. Many people were left waiting on payments for a long time with little communication and updates from the company. This has left them feeling very frustrated and on their own.
Some of the claims discussed in these reviews that did not happen due to storms were handled properly, and these customers are decently happy with the process they experienced. However, it is clear that many of the negative reviews focus on larger and more detrimental claims.
Selective’s customer service
One notable factor that is mentioned in several reviews is the ease of working with Selective agents. Lots of customers appear to be very happy with their agents and the customer service they are provided. It appears the agents are helpful and responsive.
There are a handful of negative reviews, but it appears that most customers have had good experiences with the customer service team. They are able to get policy servicing and make changes as needed. This is a plus because having a reputable contact is very important when dealing with homeowners insurance.
It seems that most would agree that Selective is easy to work with on a customer service level. This is positive, as the claims department does not seem to have the same reputation. If you are looking to make minor changes to your policy and get information, you will likely receive the help you need.
Selective‘s financial strength
BBB
While Selective is not an accredited business with the Better Business Bureau, they have received an A+ rating. There is not much information to be found on the BBB website about the company, and there are currently no reported claims on file for the company.
AM Best
Selective received an A+ from AM Best, as well. This is a rating that showcases a company’s superior ability to meet its obligations. The future outlook of the company is listed as stable, and it appears this information is from November 2022.
The verdict
Selective is an insurance company that specializes in customizable homeowners insurance. It offers several additional enhancements that can be added to any policy. This gives customers the chance to create a policy they feel comfortable with.
Along with their optional coverages, another strong point is the several discounts they offer. These discounts are easy to obtain and seem to help people save money on their insurance. It is thought that their premiums are competitive, though no information can be found online because there is no way to get an instant quote.
When it comes to handling claims, Selective is not the best carrier. Many people have complained that rather large claims have been denied. Those who were able to file claims have reported the carrier takes a long time to send out payments and does not do the best job of communicating throughout the process.
People seem to enjoy the customer service aspect of the company, even though the claims department does not have a great reputation. Many who have contacted the company for customer service reasons were able to get help efficiently.
Selective appears to be a decent company to get homeowners insurance from, however, filing claims can be a cause for concern. There are definitely other affordable carriers out there, so if you are not willing to take the risk of having a claim get denied, then it is suggested to look elsewhere.
