Esurance Car Insurance Company Review
Esurance is relatively new to the insurance market, launching in 1999, but the company website notes it has since grown large enough to be one of the hottest names in online car insurance. Part of its growth may be due to the manner in which it operates. Esurance is an online insurance company that focuses its business online, with Esurance Mobile and website services.
Although it started in only four states, it now offers coverage in 30 states. Esurance has also expanded to sell more than just car insurance, with offerings that now include home, renter, motorcycle, life and health insurance.
Esurance claims to offer coverage to nearly 90% of the population. At a glance, such a claim sounds impressive, but just because coverage is offered to a large portion of the population, it does not mean that same large portion buys the coverage. Esurance is owned by Allstate Insurance Corporation, one of the major players in the insurance industry.
Esurance Car Insurance Options
Standard car insurance options are available from Esurance, although the company website does not readily disclose many details unless you enter a zip code and request a quote. The site does offer a bit more information on the types of discounts available, many of which are also standard fare found with most car insurance companies.
A few discounts are a bit different from the standard slate. For starters, you get a 5% discount for requesting a quote, and there seems to be no way to get around the request-a-quote option. Another is the Switch and Save discount, which offers you a rate reduction if you switch from your current car insurance company to Esurance. They also include the Pac-12 discount that offers deals on insurance for those currently attending Pac-12 schools as well as Pac-12 alumni.
National Market Share
Esurance alone does not merit a notable market share in the insurance industry, but its owner does. Allstate Insurance Corporation ranks #2 on the 2010 of top 10 private car insurance companies based on its premiums, according to the Insurance Information Institute. Allstate Corp’s 2010 policies totaled $16.9 million and its market share weighed in at 10.2%. The only company that ranks higher than Allstate in auto insurance is State Farm Mutual.
Esurance Notable Notes
The Esurance icon, named Erin Esurance, made it into the Advertising Icon Museum in 2009. The company ads and commercials featured Erin Esurance as a cartoon figure, although commercials that are more recent rely more on the company motto of “Insurance for the modern world.”
Due to the major focus on online services only, Esurance already has a leg up on competitors for being environmentally friendly. Online transactions and communications means less paper waste and needless mailings. The company’s website also mentions it uses only hybrid vehicles to further its role as an environmentally friendly company.
Esurance Consumer Ratings and Awards
Esurance Car Insurance Company ranked two out of five for overall customer satisfaction for 2011 from J.D. Power and Associates, according to their website. Two out of five is the lowest a company can go on the scale, meriting them the lowly distinction of “the rest” when compared to other companies that performed more to people’s satisfaction. The two out of five held firm in the categories of billing and payment as well as the ability and ease of contacting the insurer.
Esurance’s mobile apps made the 500 list issued by InformationWeek, a company that focuses on business information technology, according to its website. The InformationWeek 500 list applauds innovation in IT and their mobile apps made the list for 2011.
The inclusion marked Esurance’s first time on the annual InformationWeek list, according to the Investor Point website, noting that it has been offering free apps and a site dedicated to mobile service for consumers. It also noted Esurance would soon be launching additional mobile services for emergency and accident services that will work on Android devices and iPhones.
A.M. Best gave Esurance Insurance an A+ for its superior financial performance, the Esurance website says. Financial stability is an important factor in determining if the company has a predicable longevity.
The Esurance awards page on its site also notes numerous awards from numerous organizations, with honors for honesty, workplace equality, communication and other honors. Esurance received the 2010 Silver Award of Distinction from the Better Business Bureau for its honesty and integrity. For four years running, the company also merited a perfect 100% on the corporate equality index from the Human Rights Campaign. This ranks Esurance at the top of the best places to work for LGBT non-discrimination and equality.
The web analysis firm of Change Sciences Group also honored the company by placing it on the list of top car insurance companies for having stellar customer service and highly usable website. Esurance made the cut two years in a row.