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Can Allianz Provide the Auto Insurance Coverage that You’re Looking For?

Allianz is actually part of a global conglomerate that was founded during the 1890’s in Berlin. Apparently, though, the company has been going through some major restructuring in the past few years. After changing hands (and names) a few times, it looks as though ordinary drivers who purchased a personal auto policy from Allianz 5 years ago or longer are now getting their policy managed through Chubb. There is still automotive insurance available through Allainz, but it primarily sells policies to owners of classic cars or companies which need to insure a fleet of business vehicles.

Allianz Insurance Review

As a multinational company, Allianz deals in some big business. And for a company so large to survive for over a century, it’s got to have a strong financial foundation. The grades below are a very strong indication of that:

Rating Agency Rating
A.M. Best: A++
S&P Rating: AA
Moody’s Rating: Aa2

Keep in mind that Allianz mostly deals with commercial financial products and/or expensive, classic cars. But if you’re more like the average driver, you probably either have or are looking for a personal auto policy from a company known as Chubb. They have mixed reviews on sites like Yelp, but as of 2016, the company has an “F” from the Better Business Bureau. This rating is related to claims against Chubb for “billing/collection issues” and “problems with product/service”.

Allianz Insurance Discounts

Chubb operates very differently than most personal auto insurance companies. They market their products to their customers not by advertising enticing discounts, but by convincing clients that they are offering a superior product. To get more information on potential discounts, like bundling, you’ll have to speak directly with a Chubb insurance agent for personal vehicle coverage. If you are a business owner with many commercial vehicles to insure, you’ll also need to contact Allianz directly. And if you are an owner/collector of classic cars, both companies can help you find a good rate.

Allianz Auto Insurance Options

Because Chubb and Allianz are major players in the insurance industry, their coverage options are geared more towards customers who either have an expensive vehicle that needs coverage, several vehicles that need coverage, or all of the above. They also pride themselves on offering more options than most standard insurance companies, such as:

  • Agreed Value Coverage – you and your insurance agent agree how much the vehicle is worth on day one of your policy, and you get that amount in the event of a total loss (works similarly to Gap-Loss coverage)
  • Choice of Repair Shop – instead of being restricted to a Chubb-approved body shop, you are free to pick one of your choosing
  • Rental Car Reimbursement – Cubb will cover rental car reimbursement for over nine times the amount of what most standard auto insurance companies are willing to cover
  • OEM Parts Coverage – if your vehicle needs to be repaired using original equipment from the manufacturer, Chubb will cover you (while some companies do not)
  • Higher Amounts of Coverage – for the basic and necessary forms of coverage such as Liability and Uninsured/Underinsured Motorists, Chubb will allow you to purchase more than most companies (which usually maxes out at around 100,000/300,000)

Comparing Allianz Insurance Quotes

If you want to make sure you’re getting the most affordable rate four your automotive insurance needs, you’re going to want to compare rates among different providers. This is a basic principle all drivers should follow, whether they need liability coverage on a used Dodge Neon or they’re looking to protect a brand new Escalade:

Comparing Average Auto Insurance Quotes Legend: Allstate State Farm Mercury Average Rate Illinois Average California Average Texas Average Florida Average New York Average 50 100 150 200 250 300 350 $52 $34 $89 $34 $146 $139 $88 $64 $71 $89 $260 $105 $147 $230 $353 $126 $72 $93 $231 $93

 
The chart above displays average rates for standard insurance policies from some of the biggest providers in the country. However, companies like Allianz and Chubb orient their business towards a different type of customer – usually someone who is in the market for a large or expensive policy. This may be because they are looking to insure multiple vehicles under one simple plan, or because the type of vehicle they are trying to insure might be too costly to fix or replace for most insurance companies.

Pros and Cons of Allianz Insurance

Pro Con
Strong financial strength rating Bad reviews by the BBB and on Yelp
Offers unique coverage options which most standard insurance companies don’t Meant for either commercial business owners or luxury/collector vehicles
Dedicated to offering a superior product to their customers Their financial products might be outside the price range of the average driver

Both Chubb and Allianz have a history of offering thorough, comprehensive insurance coverage to their customers over the years. However, doing such big business across multiple countries has led to some restructuring in the company. These changes might make the insurance policies they sell fall outside of what the average driver is looking for. But that doesn’t mean you shouldn’t compare a free quote from Chubb/Allianz against at least 3-4 others before you decide on a policy.

Corporate Headquarters
15 Mountain View Road
Warren, NJ 07059
www.chubb.com
Phone: (908) 467-6766
Fax: (908) 903-2027

Corporate Headquarters
777 San Marin Dr.
Novato, CA 94998
www.allianzautoinsurance.com
1-800-227-1700

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