UPDATED: Mar 13, 2020
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A few years ago, the company known as Conseco Auto Insurance (a member of the CNO group of insurance companies) merged with major insurance provider Amica. Conseco and the CNO group have roots reaching as far back as 1979, when the company was originally known as Security Life of Indiana. Amica is an even older company with a longer history in the automotive insurance market; they began offering auto policies to motor vehicle owners as far back as 1907. Today, their merger marks a major shift in the availability and affordability of automobile insurance in the areas where these companies do business.
Conseco Insurance Review
Amica and Conseco’s merger has provided benefits for both companies, and also the customers who purchase policies from them. According to A.M. Best, the joint company has an A++ credit rating, which is one of the strongest in the country. They have also earned exemplary marks in customer service as reported by the BBB, JD Power, and the NAIC Complaint Index.
|AM Best Financial Strength (Jan. 2016)||A++|
|JD Power & Associates Overall Rating (2013)||4 / 5 (Above Average)|
|Complaint Ratio per Vehicle (NJ, 2012)||0 / 43,710 (Excellent)|
|NAIC Complaint Index (2012)||0.42 (Better than Average)|
|Better Business Bureau (2016)||A+|
Conseco Insurance Discounts
With the merging of Conseco and Amica also came a merging of the discounts they would be able to offer their customers. Naturally, because these large entities operate in so many different states and because so many states have their own unique laws, not all discounts can be guaranteed in every state. Nor can they be guaranteed for the exact amounts shown here. But you can take these totals and compare them to what your local Amica/Conseco agent is willing to offer you on a policy in your area:
|Type of Discount||Max Percentage Discount*|
|Low Annual Mileage Driven||10%|
|Mature Drivers Course||5%|
(*Data provided by the California Department of Insurance 2013 Automobile Premium Survey)
Conseco Auto Insurance Options
Unsurprisingly, now that Conseco and Amica are one in the same, they offer the exact same standardized coverage to every driver who walks through their doors. In addition to Liability (which is required in all states for legal driving privileges), along with essentials like Collision and Comprehensive, you can also request:
- Good Driver Rewards
- Prestige Rental Coverage
- Full Glass Coverage
- Identity Fraud Monitoring
But Conseco/Amica do their best to offer enticing extras for their clients. These options help them stay competitive and keep customers with unique insurance needs satisfied:
- No depreciation deduction for a brand new vehicle totaled within your first year of ownership
- No Deductible for lock replacement services
- No deductible for glass repair services (excludes glass replacement)
- No Deductible for repairing or replacing a deployed airbag
- Loss earnings reimbursement for court appearances
- $1,000 bail bonds
- Dividend policies which may result in significant discounts toward your premium
Comparing Conseco Insurance Quotes
Did you know there are different “risk pools” that insurance companies divide their customers into in order to figure out how much to charge them for their premiums? It’s true. For the most part, motorists are separated into “high-risk” and “low risk” groups based on several different lifestyle factors. And depending on your own personal driving history, you may fall into one or the other:
As you can see in the chart above, an older senior couple with a lifetime of driving experience are paying, collectively, some of the lowest rates out of any other Conseco/Amica customers. Meanwhile, a young driver with less experience behind the wheel is paying nearly as much as two married individuals who are bundled together on the same policy. But age and driving experience aren’t the only factors which can significantly influence your premiums. Things like credit score, accident history, and the type of vehicle you drive can have an impact, too.
Pros and Cons of Conseco Insurance
|Large, financially stable company with good ratings||Some complaints about unexpected or unwarranted premium increases|
|Good reputation for having a swift, simple claims process||Customer complaints surrounding unexpected cancellation notices from Amica/Conseco|
Whether you’re in the market for your first insurance policy or simply thinking about making a change, it’s understandable why Conseco (now Amica) would be on your short list of contenders. But unless you are their ideal customer (low-risk, good credit, few accidents, over the age of 25), you might want to make sure and compare any Amica quotes you get with at least a few other local providers before you make a final decision. Otherwise, you might not be getting the best deal available.Corporate Headquarters
11825 N. Pennsylvania St.
Carmel, IN 46032