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AutoinsuranceEZ.com Rating:“Non-Standard” insurance coverage is code in the industry for coverage sold to drivers who, for many different reasons, might not be able to purchase a standard policy from a major insurance provider. Such circumstances include poor credit, a bad driving record, DUI, and more. If you live in CO, CA, NV, IL, TX, or NM and require a non-standard policy, then Fred Loya may be able to sell you a policy. Below, we’ll take a look at the attributes of this insurer and evaluate the potential risks and rewards of doing business with them.
Unfortunately for Fred Loya, they don’t have the strongest ratings. For starters, it’s difficult to gauge their financial strength because they have not been evaluated by major credit rating agencies like AM Best or S&P Global. As far as customer service goes, it appears to be hit-or-miss. Different Fred Loya insurance offices in different cities and states across the country have received different ratings from the BBB. Some offices have earned as much as an A grade; others are as low as “F” or have no rating at all.
|NAIC Complaint Index (2012)||1.17 (Somewhat Above Average)|
|AM Best Financial Strength||NR (Not Rated)|
When it comes to non-standard auto coverage, insurance companies aren’t always so keen on trying to attract more business with discounts. Fred Loya, however, offers a small exception to that industry rule. They do offer one modest discount, and it’s a fairly common one. If you pay your balance in full every time you renew your policy, you can look forward to the savings below:
Fred Loya offers non-standard insurance coverage to drivers who struggle to find coverage from other providers. On the company website, this coverage seems to be limited to Liability only, and in the lower amounts necessary to be considered legal coverage. For higher coverage limits or additional coverage options, like Comprehensive or UM/UIM, you may need to contact an agent directly in order to find out what is available.
In Texas, where everything is bigger (which is especially true in the case of automotive insurance premiums), there is data that suggest an average 30-year-old driver with basic Liability coverage can expect to pay around $85/mo for a policy. Keep that number in mind as you compare it to other quotes from across the country:
It should be noted, however, that the numbers in the chart reflect an average driver with a fairly comprehensive policy – this means additional coverage options, such as Comprehensive/Collision in addition to Liability, and in higher amounts. Basically, it seems as though Texas drivers with non-standard coverage from Fred Loya are paying about the same for less coverage. And in other areas, they’re paying more for Liability than they would for a comprehensive policy.
|Access to full-service and proprietary offices where agents can handle quotes and claims||Offices not available in all states|
|Offers non-standard coverage to drivers who have trouble getting legally insured||No 24/7 claims service|
|Mixed reviews on claims resolution and response time|
If your circumstances determine that you need non-standard coverage, your options may be limited as far as variety of providers is concerned. But that doesn’t mean you shouldn’t try to comparison shop. If you really want to know for sure whether Fred Loya Auto Insurance is the best deal near you, you’ll need to compare them to as many providers as you can. And here at AutoInsuranceEZ.com, we can help you do that.