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Zurich Home Insurance Review (2023)

Zurich is a large insurance company from Switzerland that offers homeowners insurance in all 50 states. They have been around for 150 years and have earned excellent financial ratings. However, there are many complaints online from their customers regarding claims and overall customer experience.

Read Time: 7 mins

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2.5
★ HOIC RATING
Premiums 3
Claims 1
Customer Satisfaction 1
Financial Standing 5
PROS
  • Been in business for over a century
  • Offers insurance in all 50 states
  • Offers many different insurance products
  • Very financially stable
CONS
  • Limited information on discounts available and premium pricing
  • No online quoting option
  • An overwhelming amount of negative customer reviews
  • Delays when handling claims and customer service requests

Zurich Insurance Group Ltd. is a global insurance company with headquarters in Zurich, Switzerland. It is the largest insurance company in Switzerland and has multiple subsidiaries including providing insurance and financial services in the United States and Canada. The company is listed in Forbes’ Global 2000 in 2017 as the 91st largest company worldwide.

With an excellent reputation and rich history, Zurich Insurance is a frontrunner in global insurance services. They offer a wide variety of products and services including personal and commercial insurance policies. They provide homeowners insurance for owned homes and serve all 50 states. Their comprehensive coverages make them a great option for many different individuals.

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In the United States, however, Zurich offers commercial property insurance through its subsidiary – Zurich North America. Additionally, Farmers Insurance Group, another subsidiary, underwrite home insurance for Zurich Insurance in some states in the US. Zurich Insurance has come a long time from being a marine insurance company when it was founded in Zurich, Switzerland in 1872. Today, the company is known for its numerous acquisitions and partnerships including offering some of the most comprehensive commercial insurance in North America.

Types of Zurich homeowners insurance coverage

Aside from homeowners insurance, Zurich is also known for covering businesses equipment, and stocks/assets. They are a large company with a variety of different products. Through their website, it is not clear what kinds of coverage limits they provide.

They state they are able to cover homes and their contents. Zurich offers simple policies with the option to add additional coverages as needed. Their website makes it clear that you are able to customize a homeowners insurance policy to suit your specific needs.

It seems that Zurich takes pride in being a large company and being able to provide coverage for many different types of homes of all shapes and sizes. They aim to protect customers from experiencing losses in the first place.

Zurich’s additional coverages

It is clear that Zurich wants its customers to know they have a lot to offer. Their product catalog is extensive and serves both commercial and personal clients. Since they are such a large company, it can be assumed there are many additional coverages that can be added to a homeowners insurance policy.

This information is not directly listed on their website, but they do make it a point to say they want their customers to feel secure with the homeowners insurance coverage they offer. Finding out more about this is also something that can be done when requesting a quote.

Zurich home insurance discounts

It is unclear if Zurich offers its homeowners insurance customers in North America any discounts on their policies. In some other countries, discounts are provided. Since there is limited information regarding what Zurich will provide its North American customers, it is difficult to say if they are helpful when you are trying to save money. The easiest way to determine if any discounts are offered is to get a personalized quote through an agent.

Zurich homeowners insurance premiums

The way that Zurich is structured makes it difficult to determine if its pricing is competitive. Since they severe many areas, including internationally, it is encouraged to reach out to a local agent to find out more about the pricing in your specific locale.

They have an option on their website which allows you to find an agent near you. This is how you will get a quote and also inquire about all of the different products that are offered in your area. Little is known about how much people are paying with Zurich for homeowners insurance.

Since they are such a large company, it is probably reasonable to assume that Zurich tries to be competitive with its pricing. They serve many different customers all over the United States, so they likely aim to be affordable.

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Zurich homeowners insurance claims

Zurich receives a lot of backlash online from customers regarding how they handle their claims process. Many customers have complained about a lack of timely communication, thus resulting in costly expenses and negative outcomes.

Many people suggest that they are kept waiting for months, even after submitting all of the necessary documentation that is requested. Some customers even complained that they are unable to get a response back at all when dealing with open claims.

The negative reviews are concerning when considering Zurich as an insurer because there are several customers who are very unhappy. It appears Zurich does not live up to its promise to adequately cover customers when they need it most.

Zurich’s customer service

The reviews regarding Zurich’s customer service experiences are also overwhelmingly negative. People have the same complaints about their lack of punctuality when getting in touch with their customers. They leave people to face issues without providing much assistance.

It appears that Zurich does respond to these negative reviews, but they fail to offer much helpful advice. Most of the time, they tell customers they have sent out a written response to their complaints.

People are consistently unhappy with the service Zurich provides, and this is clear across the board regarding different policy types and customer locations. It is unsettling to see these reviews because it does not showcase that Zurich is able to successfully manage its customers.

Zurich’s financial strength

Taking a look at an insurance company’s financial standing is another way to determine how they are as a carrier. This can highlight the company’s ability to pay out claims and remain financially stable over time.

BBB 

Zurich has been in business for over a century and receives an A+ rating through the Better Business Bureau. This is indicative of a great financial outlook with future stability noted. Over the last three years, there have been 111 closed complaints.

AM Best

Zurich has an A+ rating through AM Best, as well. This suggests a superior financial outlook when compared to other companies. Their outlook appears very stable.

The verdict

It is clear that Zurich is a very large insurer with plenty to offer its customers. They have a lot of information on their website about their various products and their ability to insure all different kinds of homes and even businesses.

They do not list specific details about their coverages provided, but they make it clear their simple homeowners insurance policies can be customized to your liking. Zurich takes pride in offering customers what they need to feel protected.

It is unclear what discounts are offered and how much average premiums cost because this information is not readily available online. Most of these questions need to be answered by contacting a local agent who can quote you.

When reading the customer reviews, Zurich is notably bad at handling claims and customer service inquiries. There are various complaints about each process and how customers are unhappy with how they are treated after choosing the company.

These reviews should be taken into account because there are so many of them. It appears that Zurich does not seem to be the best choice for homeowners insurance, even despite its impeccable financial stability as a company.

Customer experiences should be considered because Zurich offers so many different products and insures several people around the world. With the lack of efficiency and ability to handle even basic customer service tasks, it seems best to go with another carrier.

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ABOUT AUTHOR
Kristen Nadel has worked as an insurance agent for 4 years and has an extensive background in writing homeowners insurance content. She is also a published author residing in Oklahoma. Her creative spirit and tenacity for excellence allow her to stay inspired. Writing is more than just a task to her — it is a lifelong passion.
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