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AutoinsuranceEZ.com Rating:The Hartford is an old and well-established Fortune 500 company which specializes in insurance products for nearly every walk of life. The company has been incorporated since the early 1800s, which makes The Hartford over two centuries old. Back in the 1980s, they teamed up with AARP (American Association of Retired Persons) to offer special discounts on home and auto insurance policies to senior citizens. Since 2008, they have earned an annual spot on the “World’s Most Ethical Companies” list.
As far as financial strength goes, credit ratings agency AM Best rated the Hartford A+ (Superior). However, there appears to be some issues with their customer service. Both the Consumer Affairs website and the BBB have negative reviews from customers who purchased Hartford auto insurance. The biggest problems seemed to center around the company’s ability to communicate specific information to their clients in a timely manner.
|AM Best (2016)||A+|
|JD Power & Associates Rating||4 out of 5 (Better than Most)|
|Complaint Ratio per Vehicle – the Hartford (NJ, 2012)||1 / 18,598|
|Complaint Ratio per Vehicle – the Hartford (CA, 2011)||2 / 254,417 (Above Average)|
|Better Business Bureau (2016)||No Rating|
|Consumer Affairs (2016)||2/5 Stars|
Most consumers will naturally flock toward a company which promises to save them money by offering discounts. And The Hartford is one of many insurance companies putting this practice to use in order to attract business. The chart below outlines what you might be able to save with a Hartford auto policy:
|Discount Type||Maximum Possible Discount*|
|Airbag Installation||10 – 20%|
|Anti-Theft Devices||5 – 15%|
|Anti-Lock Braking System||5%|
|Multi-Policy Credit||5% off auto, 20% off home/condo/renter’s insurance|
|Persistency Credit||2 – 8%|
(*TheHartford.com 2016 and the California Department of Insurance 2013 Automobile Premium Survey)
Like every other insurance company, The Hartford is required by law to offer you as much coverage as you need in order to drive legally within your state. And, like many other companies, they also offer additional forms of coverage which you can purchase to meet your needs:
When it comes to your monthly premiums, a single man living alone in his own apartment isn’t going to pay the same monthly premium as a soccer mom on a family policy with two SUVs. Different drivers are going to get charged different rates based on their risk profile. In the chart below, you can see how The Hartford’s rates compare both among different risk pools, and among other companies.
Clearly, the chart shows that Hartford is fairly competitive with other, average-priced major providers in the insurance agency. As a matter of fact, the estimated quotes in this chart are ironically more competitive among young drivers than with their rates for seniors, which nearly break even with the average market rate for drivers 65+ who own their own home.
|Useful discounts for senior citizens||About average rates for those under 65|
|Strong financial stability||Customer service reviews suggest poor communication between The Hartford and its customers|
The Hartford, in partnership with the AARP, has been working hard for over 30 years to bring discounted auto insurance to senior citizens who need it. They’ve also been staying relatively competitive, price-wise, among those drivers who are not yet of retirement age. Apparently, however, their customer service has been less than optimal in recent years. At the end of the day, it’s up to you to weigh the risks and compare quote from multiple companies, The Hartford included, to find the best auto insurance deal for you.