ACE Car insurance is provided through the ACE Group, a global subsidiary of ACE Ltd. The parent company was originally formed by a group of corporate executives in 1885 who were finding it problematic to obtain adequate professional insurance.

Typically, professional insurance protects corporate officers against liability issues in the event of a lawsuit or company financial distress. For the 34 individuals that formed ACE Ltd., their insurance options prior to founding the organization were not strong enough to cover all of their personal assets.

In the 27 years since its inception, the ACE Group has developed into a very strong global presence. The company now offers a comprehensive selection of insurance and business services to both individuals and corporations around the world. You can find ACE companies in Europe, Asia, Africa, South America, North America, and the Middle East.

Car Insurance Options

One visit to the ACE Group website and one quickly realizes that this company really caters to those with a high net worth. Their car insurance, like all of the insurance products they sell, provides coverage designed to protect extremely valuable cars plus the personal assets of those who own them. Even their most basic car insurance plans are such that liability issues are rarely a problem for customers.

Some of the more interesting offerings in terms of car insurance include their Agreed Value, New for Old, and OEM Parts programs. Beginning with Agreed Value, ACE Group wants to make sure customers are completely satisfied.

Under this program, each customer can choose to cover his vehicle at an agreed value if he so desires. This agreed value protects the car owner against depreciation if his vehicle is ever completely totaled. With this coverage, there’s no haggling when it’s time to make an insurance claim.

The New for Old program provides car owners with coverage that will replace a totaled car with a brand-new one of similar make and value. This is a huge benefit to anyone who has filed a claim only to be reimbursed a fraction of what they believe the car is worth.

Finally, the OEM Parts programs is simply a commitment from ACE Global to always pay for parts from original manufacturers as deemed necessary by repair shops. Where other companies will only allow third-party parts to be used, ACE leaves that decision to what the repair shop deems best. Throw in 24-hour roadside assistance, comparable auto rental, and no deductibles for certain types of repairs, and you have a policy that is extremely tight.

ACE National Market Share

ACE Group is another one of those insurance companies whose market share is difficult to determine. We checked a number of top 10 and top 25 lists and could not find ACE listed on any of them. We even checked several different state and regional sites, such as the Texas Department of Insurance, and found nothing from ACE Global.

This would seem reasonable given the fact that the company tends to market itself to high-end customers. The cost of their insurance products puts them out of reach for most mainstream Americans.

That being said, ACE Group does enjoy a worldwide reputation as one of the strongest and the largest global insurance organizations. The company employs more than 15,000 people worldwide and sees annual income in excess of $2.5 billion.

What Makes ACE Group Different?

If you’re scratching your head wondering if you’ve ever seen an ACE Group TV commercial, you can stop scratching. Where television ads are targeted at the mostly middle-class Americans, ACE uses other marketing avenues to reach its customers. Indeed, it is that attitude that sets them apart from most other car insurance companies.

The original idea for establishing the business to begin with was to provide high value insurance products to protect corporate officers. As they branched off into auto insurance it was almost natural for them to focus on customers who would be driving more expensive BMWs, Porsches, Mercedes Benz is, and Jaguars.

Along those same lines, their car policies are built to provide coverage for just about any type of conceivable loss. If thoroughness is what you prefer in your car insurance, and you can afford it, ACE might be the right choice for you.

Ratings and Awards

As of January 2012, the latest ratings for ACE Group are as follows – Moody’s: A+, Standard & Poor’s: A1, Fitch: AA- and an A.M. Best rating of AA-.

The ratings from all four organizations indicate ACE Group is on stable financial footing and poised for a productive future. They are based on a variety of factors that all combine to give an overall picture of an insurance company’s health and its prospects in both the short and long term. Any rating of A+ or better is considered very good from a financial standpoint.

While financial ratings are helpful, nothing tells the story about how insurance companies meet the needs of their customers better than the reviews posted by those customers. Again, because of the limited customer base ACE Group enjoys, their customer reviews are harder to come by.

Nonetheless, we sampled a handful of review websites and found ACE listed on several of them. Most notable was one specific survey that had the company ranked 13th out of 50 in terms of total customer satisfaction.

All the companies in this list were rated according to price, coverage quality, overall customer service, claims service, and the courteousness and friendliness of staff. For ACE Group to rank so high with so few members is a testament to the quality they provide.