Top 10 Idaho Car Insurance Companies
Allstate and Ameriprise are among the top Idaho car insurance companies, but you may find a better policy from a local independent agency on this list. Read more to see which local Idaho car insurance companies are offering policies near you, or enter your ZIP code below to compare local Idaho car insurance quotes for free.
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UPDATED: Sep 11, 2020
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It is important to understand Idaho laws regarding mandatory auto insurance before deciding which policy is best for you as well as how much insurance you need. There are more than 110 auto insurance companies licensed to operate in Idaho, so one of them should be exactly what you want. These car insurance requirements apply to all drivers:
- Regardless of registration status, all motorized vehicles accessing Idaho roadways must carry liability insurance for $25,000 (injury or death for one person), $50,000 (injury or death for more than one person), and property damage in the amount of $15,000. In lieu of insurance, an indemnity bond offered by a surety company can be purchased or, if certain guidelines are met, self-insurance is acceptable.
- Operators must carry evidence of financial responsibility (proof of insurance or an acceptable alternative) in vehicles at all times.
- Proof of financial responsibility is required as part of the registration process.
- Underinsured motorist (UIM) and uninsured motorist (UM) coverage must be rejected, in writing, unless the insured chooses to include UIM and UM coverage as part of a policy.
- Individual drivers can be specifically excluded.
There are important questions you should ask each insurance company you consider, so you can compare these car insurance companies against the same criteria. Keep in mind that Idahoans pay very low car insurance rates. An excellent way to do your comparison shopping is by requesting a quote using identical circumstances. These are some of the criteria to use when evaluating the companies.
- Cost of car rental insurance
- UM/UIM coverage required to be equal
- Importance of credit score
- Minimum coverage because of Tort System
- Maximum number of vehicles on policy
- Maximum number of people on policy
- Deductible amounts available
- Available discounts
- Youth premiums
- Cost of living and work location
- Driving history penalties
- Charges for make/model of vehicle
- Vehicle usage (work vs. pleasure)
- Is it a mutual company (policyholders own the company)
Top Ten Car Insurance Companies in Idaho
What follows is a list of the top ten Idaho car insurance companies and information about each of them. These companies have been selected based on a combination of consumer evaluations and financial stability.
Allstate traces its roots back to 1931 when it was established by Sears Roebuck. It is now traded on the New York Stock Exchange. It commands about 11% of the private automobile insurance business in the United States and has the second largest share of the market. It offers policies through telephone and Internet sales as well as brokers, broker-dealers, and independent agents.
Seventy percent of its business comes from its automobile insurance, so its commitment to that market is considerable. It’s financial health is excellent and, for the most part, it receives superior ratings in that area.
Ameriprise Auto & Home Insurance
As part of the Ameriprise Group, Ameriprise Auto & Home Insurance is a publically traded company. It opened its doors in 1894 under the name Investors Syndicate. At one time, it was part of the American Express company, although it no longer has that relationship. Career agents sell the products to consumers. Its Best Insurance Reports rating is an A; Standard & Poor rates it an A-; Moody’s rates it an A3, while Fitch gave it a financial rating of A-.
As a mutual insurance company, it is especially responsive to its customers since the customers have a stake in the company. Amica Insurance takes pride in its J.D. Power and Associates awards. The company is more than one hundred years old and is a direct writer of its policies including automobile products. The company is rated A++ by Best Insurance Reports which means it is financially stable and able to meet its obligations.
Although this company is part of the Allstate offerings, it is a separate entity that sells its only product, automobile insurance, through a network of independent agents. Its financial foundation is solid, and it is consistently rated superior by report agencies like Best Insurance Reports. While Allstate stock is publicly traded, Deerbrook Insurance is a mutual company.
You will, easily, recognize the parent company of Electric Insurance – General Electric. Originally established, in 1927, to serve General Electric employees with Workers’ Compensation insurance in Massachusetts, the 1950s saw its scope expand to include commercial vehicle and general liability coverage, as well.
Currently, its sales are limited to GE employees, retirees, and customers. As you might expect, it receives generally good ratings with respect to its financial stability including a Standard & Poor rating of A as well as an A- from Best Insurance Reports.
The Hartford is a publicly traded company that is part of the Hartford Financial Services Group. One of the oldest insurance companies in the United States, it was established in 1810 and, now, serves customers all over the world. It utilizes registered brokers/dealers and independent agents to sell and service its products. Best Insurance Reports gives it a financial rating of A+.
Direct Response Corp. is the parent company of Response Insurance which is a mutual company. A relatively new company, it was established in 1995 with seed money from Morgan Stanley. It sells its product to customers, directly, by way of the Internet. Its target market is the better driver. Although it is backed by Morgan Stanley, its credit rating is B++ from Best Insurance Reports.
State Farm is a mutual company that holds the largest share of the automobile insurance market at around 18%. It was established in Illinois in 1922. It is owned by its customers because it is a mutual company. Today, it celebrates its status as a top ranked company in the Fortune 500. In addition to offering private vehicle insurance, it also covers some small to medium commercial policies.
Its first product offering was designed to provide the farmers of Illinois with inexpensive automobile insurance. Today’s policies are sold by career agents. The major ratings evaluate State Farm’s financial health as superior in all respects.
Travelers is a publicly traded company that traces its beginning back to 1864. In fact, it was the first American company to provide insurance for accidents. It sells its policies through independent agents and brokers. It is a financially stable company that boasts a rating of A+ from Best Insurance Reports as well as a S&P rating of AA-, Moody’s rating of Aa3, and a Fitch rating of AA-. It’s no surprise that it is in the top 100 companies in the Fortune 500.
1922 was the year that United Services Automobile Association established an insurance company that was designed to serve members of the U.S. military and retirees as well as their descendants. Like all mutual companies, it is owned by the policy holders. Policies are sold on the Internet as well as by mail and telephone.
It offers a full line of private automobile insurance products in addition to its other services. Best Insurance Reports gives it an A++ rating; Standard & Poor rates it AAA, and Moody’s evaluates its financial standing as Aaa.
These are ten of the highest rated automobile insurance companies in Idaho according to customer evaluations. Take the time to check their offerings, then make an informed decision based on what you discover. Find cheap car insurance with our FREE comparison tool!