IFA Auto Insurance: Understanding Local Nuance in the Northeast Automotive Insurance Market
AutoinsuranceEZ.com Rating:IFA has been helping New Jersey residents meet their automobile insurance needs for the past 40 years and counting. Today, their business has even expanded into Pennsylvania, Maryland, and even Delaware. Their corporate philosophy preaches a sincere dedication to providing the best customer service possible while also doing their best to make sure drivers in the Northeast can get the most affordable rates.
IFA Insurance Review
In order to feel good and confident about doing business with a particular insurance company, you have to know that their customer service and financial strength ratings are strong. Unfortunately, it does not look like that is the case with IFA. Over the last several years, their financial strength rating has slowly descended from a B-, to a C+, to having no official rating whatsoever as of 2015. On top of that, their rating with the BBB is a B-, and they have almost exclusively 1-star reviews on the popular customer review website Yelp.
|AM Best Financial Rating (2015)||NR (No Rating)|
|Better Business Bureau Rating (2016)||B-|
|NAIC Complaint Index (2012)||1.50 (Worse than Average)|
IFA Insurance Discounts
IFA is, unfortunately, not very forthcoming with information on what, if any, discounts they are willing to offer their customers. But things like discounts can vary greatly across state lines, so it might be helpful to call and ask what discounts your local IFA agent is willing to offer. Most companies tend to offer basic discounts such as:
- Loyalty Discounts for months or years of continued business
- Safe Driver discounts for not getting into any accidents
- Multi-Vehicle discounts for insuring more than one vehicle on the same policy
- Low Mileage discounts for driving fewer than average miles annually
- Safety Equipment for airbags, anti-theft devices, ABS, and more
Be sure to ask your local IFA agent if they offer similar discounts on their policies before you make any final decisions on your next policy.
IFA Auto Insurance Options
IFA auto insurance policies are pretty bare-bones. Due to state laws in New Jersey and the surrounding areas, IFA offers the following types of coverage in order to help you drive legally:
- Bodily Injury Liability Coverage – Pays out on claims if you are found at-fault in an accident where someone gets hurt and requires medical treatment
- Property Damage Liability Coverage – Pays out claims if you are found at-fault in an accident where property gets damaged
- PIP/First Party Benefits Medical Payments – pays for medical expenses and sometimes lost wages in the event you are hurt in an accident, regardless of fault
- Collision – If your car is damaged or totaled in an accident, Collision coverage will pay to fix or replace the vehicle, regardless of fault
Comparing IFA Insurance Quotes
Part of IFA’s mission statement is to provide the most affordable insurance premiums within the state of New Jersey and their surrounding markets. But when you compare quote estimates from IFA to the state average, a different story begins to emerge.Auto Insurance Quote Comparisons Legend: IFA State Average Married Homeowners Young Female Driver < 25 Young Male Driver < 25 Single Renter 50 100 150 200 250 300 $342 $198 $52 $74 $218 $188 $165 $136
Interestingly, the smallest price discrepancy between IFA and average New Jersey rates is among young drivers under the age of 25. For young female drivers especially, it appears as though IFA offers the better deal. Older drivers, males, and married couples unfortunately may end up paying a little more on their monthly premiums if they happen to go with IFA though.
Pros and Cons of IFA Insurance
|Provide local, personable service to NJ, DE, MD, and PA residents||Many customer service complaints from current and former customers|
|Low rates for young female drivers who might pay more with another company||Still charge more than the state average for most other demographics|
If you live in or near New Jersey, are a relatively safe driver, and want a good deal on your automotive insurance, then there’s a chance that IFA might have an affordable policy for you. Anyone who falls outside of that specific demographic, however, may have a hard time finding the policy they want at a rate they can afford. Before you narrow in on IFA as your next insurance provider, be sure to compare their rates to some fast, free quotes from our quote generator. You’ll be comparison-shopping in a matter of minutes.Corporate Headquarters
14 Walnut Avenue
Clark, NJ 07066